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Realty stock hits 5% upper circuit after receiving approval for development of residential project with revenue potential of ₹400 Cr

Prominent realty developer received approval for a premium residential project in Borivali West, spanning 4,00,000 square feet with a revenue potential of ₹400 crore, strengthening its foothold in Mumbai’s real estate sector.
रियल्टी स्टॉक ₹400 करोड़ के रेजिडेंशियल प्रोजेक्ट अप्रूवल के बाद 5% चढ़ा।

Introduction:

Leading realty developer has secured approval for its premium residential project in Borivali West, spanning 4,00,000 square feet. Strategically located, the project holds a revenue potential of ₹400 crore, enhancing the company’s presence in Mumbai’s thriving real estate market.

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Share price movement of Sumit Woods:

On March 19, 2025, Sumit Woods Limited opened at ₹99.01, down 0.99% from its previous close of ₹99.89. The stock reached a high of ₹104.88 (5.00%) and a low of ₹99.01. By 4:00 PM, it traded at ₹104.88, reflecting a 5.00% increase, with a market cap of ₹474.78 crore.

Sumit Group Secures Key Approval for Borivali West Residential Project:

Sumit Group has received development permission and an additional commencement certificate for its premium residential project, “SUMIT KMR PARAM,” in Borivali West. The approval, dated March 18, 2025, allows construction on plots spanning 4,00,000 square feet.

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Located in Borivali-R/C Division, the project is positioned along an 18.30-meter-wide road and a 13.40-meter-wide DP road. This strategic location enhances connectivity and accessibility, making it a prime real estate development with high potential in Mumbai’s residential market.

With an estimated revenue potential of ₹400 crore, the project is set to be a significant growth driver for Sumit Woods Ltd. The company’s latest milestone aligns with SEBI’s disclosure regulations, reinforcing its commitment to transparency and structured expansion.

Recent news on Sumit Woods:

As of February 22, 2025, Sumit Woods Ltd reported a 30.43% YoY decline in net sales to ₹29.81 crore, while net profit surged 74.91% to ₹2.87 crore. EBITDA fell 25.64% to ₹5.80 crore in December 2024.

Stock performance of Sumit Woods for Period of 1 week, 6 months, and 1 year:

Sumit Woods Limited saw a marginal dip of 0.29% over the past week, while its six-month performance declined by 35.8%. However, the stock showcased strong long-term growth, delivering an impressive 90.6% return over the past year.

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Shareholding pattern of Sumit Woods:

ParticularsDec 2024Sep 2024Jun 2024
Promoter58.30%69.90%69.90%
FII0%0%0%
DII0%0%0%
Public41.70%30.10%30.10%

About Sumit Woods:

Sumit Woods Ltd (NSE: SUMIT), incorporated in 1997, specializes in real estate development. The company undertakes eco-friendly projects, including townships, commercial spaces, malls, resorts, and redevelopment initiatives, focusing on large-scale and sustainable urban development solutions.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.

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