Sumit Woods surged 12.17% to Rs 68.66 after the company said its subsidiary, Sumit Hills, has signed a development agreement for the redevelopment of Nav Vidya Laxmi CHSL at Mahim, Mumbai, as part of a composite project with Brothers CHSL.
The proposed project is a super-premium residential redevelopment comprising 2 BHK and 3 BHK apartments. The project entails an approximate free-sale FSI area of 1.70 lakh sq ft and carries an estimated project value of about Rs 737 crore.Sumit Woods is in the business of real estate development.
The companys consolidated net profit tumbled 87.1% to Rs 0.29 crore on a 72% decrease in revenue from operations to Rs 12.82 crore in Q2 FY26 over Q2 FY25.
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