Sumit Woods Limited has issued a postal ballot notice dated May 08, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, seeking shareholder consent for a special resolution concerning the continuation of its Managing Director. The notice has been dispatched electronically to all eligible shareholders, with the cut-off date for determining voting eligibility set at Friday, May 01, 2026.

Key Resolution Under Consideration

The sole item placed before shareholders pertains to the continuation of Mr. Mitaram Jangid (DIN: 00043757) as Managing Director of the company after he attains the age of 70 years on June 18, 2026. Under Section 196(3) of the Companies Act, 2013, a person who has attained the age of 70 years may be appointed or continue as Managing Director only upon passing of a special resolution by members. Mr. Jangid's re-appointment as Managing Director was previously approved by members for the period from May 26, 2023 to May 25, 2028, by way of a special resolution passed at the meeting held on June 22, 2023. If the current resolution is approved, all other terms and conditions of his re-appointment, including remuneration, shall remain unchanged and continue in full force and effect.

Profile and Background of Mr. Mitaram Jangid

The following table summarises the key details of Mr. Mitaram Jangid as disclosed in the postal ballot notice:

Mr. Jangid co-founded the company in 1987 alongside Mr. Subodh Nemlekar and has been on the board since incorporation. He has over 40 years of experience in the construction industry and heads the Design Development activity of the company, overseeing the overall progress of all projects. The Board of Directors, based on the recommendation of the Nomination and Remuneration Committee, has approved and recommended the continuation of his office as Managing Director for the remaining tenure.

E-Voting Schedule and Process

The company has engaged National Securities Depository Limited (NSDL) as the e-voting service provider. The complete schedule of events for the postal ballot and e-voting process is as follows:

Voting rights shall be reckoned on the paid-up value of shares registered in the name of the member as on the cut-off date of Friday, May 01, 2026. Members holding shares in physical or dematerialised form as on the cut-off date are eligible to participate. The postal ballot notice is available on the company's website at www.sumitwoods.com and on NSDL's e-voting website at www.evoting.nsdl.com .

Scrutinizer and Result Declaration

The Board of Directors has appointed Mr. Vijay Yadav, Partner, M/s. AVS & Associates, Practising Company Secretary, as the Scrutinizer to conduct the postal ballot process in a fair and transparent manner. The Scrutinizer will submit the results to the Chairman or any authorised person of the company after completion of scrutiny. The results of the postal ballot, along with the Scrutinizer's Report, will be announced on or before Wednesday, June 10, 2026, and will be displayed on the company's website as well as communicated to the stock exchanges where the company's shares are listed. If approved by the requisite majority, the resolution shall be deemed to have been passed on Monday, June 08, 2026, the last date of voting.

Sumit Woods has announced a major business development with its subsidiary entering into an agreement for a significant redevelopment project in Mumbai. The company has secured the Nav Vidya Laxmi Cooperative Housing Society Limited (CHSL) redevelopment project located in the prime area of Mahim.

Project Details

The redevelopment project represents a substantial investment opportunity for the company with considerable scale and value.

Strategic Significance

The Nav Vidya Laxmi CHSL redevelopment project marks an important addition to Sumit Woods' project portfolio. Mahim is considered one of Mumbai's well-connected and sought-after residential areas, making this redevelopment opportunity strategically valuable for the company.

The project's substantial FSI area of 170,000 square feet indicates the scale of development potential, which could translate into significant revenue generation for the company. Redevelopment projects in Mumbai's prime locations typically offer attractive margins and steady cash flows over the project lifecycle.

Business Impact

This agreement strengthens Sumit Woods' presence in Mumbai's competitive real estate redevelopment market. The ₹737.00 crore project value represents a significant addition to the company's order book and is expected to contribute to future revenue streams.

The successful securing of this project demonstrates the company's capability to win substantial redevelopment contracts in Mumbai's prime real estate corridors, positioning it for potential future opportunities in similar high-value segments.