Sumit Woods Ltd has received the Full Commencement Certificate for its residential project SUMIT KMR PARAM, located in Borivali West, Mumbai. The certificate was issued by the Brihanmumbai Municipal Corporation on July 20, 2026, enabling the company to commence construction activities in accordance with the approved plans. This approval marks a significant milestone for the premium residential development proposed on a strategically located open plot in one of Mumbai's prominent residential micro-markets.

The Full Commencement Certificate is valid until March 4, 2027. It authorizes the construction of a proposed residential building No. 1, which includes a basement, partial ground and stilt floors, 1st to 8th podium, and 9th to 37th upper floors for residential use, along with LMR, OHT, and a Dome. The approval is based on the amended plans dated December 1, 2025.

Project Details and Approvals

The project is situated on plot No. 282, 283, 284, and 293, falling under C.T.S. No. 282, 283, 284, 293 and the Borivali-R/C Town Planning Scheme. The site is located at an 18.30 mtr. wide road and 13.40 mtr. wide DP Road in the R/C Ward. The development permission was sought under Section 44 and 69 of the Maharashtra Regional and Town Planning Act, 1966.

The Brihanmumbai Municipal Corporation has appointed Jagannath Shriram Gavhane, Assistant Engineer, to exercise the powers of the Planning Authority under Section 45 of the said Act. The certificate is subject to several conditions, including that no building shall be occupied until occupancy permission is granted and that the permission is valid for one year from the date of issue, renewable annually for up to three years.

Timeline of Commencement Certificates

The project has seen a series of commencement certificates leading up to the full approval:

The disclosure was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Sumit Woods Limited announced its audited financial results for the year ended March 31, 2026, reporting a consolidated Profit After Tax (PAT) of ₹5.99 crore and declaring its first dividend. The real estate developer secured a project pipeline worth ₹5,130 crore to be executed over the next 5 to 6 years, targeting 20% to 25% annual revenue growth. The company’s Net Worth increased by 21.2% to ₹180.37 crore as on March 31, 2026, while Total Assets grew by 16.0% to ₹300.61 crore.

Consolidated Financial Performance

For FY 2025-26, the company reported a Total Revenue of ₹98.61 crore. Operating EBITDA stood at ₹20.29 crore, translating to a margin of 21%. Revenue from Operations stood at ₹90.74 crore for FY 2025-26 compared to ₹93.92 crore in FY 2024-25. Profit Before Tax (PBT) was ₹13.07 crore, while standalone PAT stood at ₹9.49 crore for FY26.

Dividend Declaration

The Board of Directors recommended a dividend of ₹0.20 per equity share, equivalent to 2% of the Face Value of ₹10 per share for FY 2025-26. This marks the first dividend declared by the company.

Strategic Developments

Investments in subsidiaries and joint ventures increased to ₹50.59 crore from ₹26.78 crore, reflecting the company's commitment to strengthening its project pipeline. Equity Share Capital increased to ₹47.86 crore following the conversion of warrants during the year. Inventory increased to ₹172.78 crore as against ₹153.65 crore in the previous year, representing ongoing development activities and future revenue visibility.

Management Commentary

Commenting on the results, Mr. Bhushan Nemlekar, WTD & CFO, said: "FY 2025-26 was a year of disciplined execution and strategic investments. While revenue recognition remained project-linked, the Company maintained profitability, strengthen our balance sheet, expand our development portfolio, and enhance shareholder value. The acquisition of Sumit Abode Private Limited and continued investments in projects position the Company well to capitalize on future growth opportunities."