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Sumit Woods Ltd.

BSE: 535107 Sector: Infrastructure
NSE: SUMIT ISIN Code: INE748Z01013
BSE 05:30 | 01 Jan Sumit Woods Ltd
NSE 11:17 | 28 May 10.50 -0.15
(-1.41%)
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Sumit Woods Ltd. (SUMIT) - Chairman Speech

Company chairman speech

Letter to Shareholders

This year there have been significant changes in the company all around. We will takethis opportunity to thank our members for showing great interest and efforts forsubscribing our Initial Public Offer (IPO) on National Stock Exchange-Emerge Platform.

We have great pleasure in presenting the Annual Performance Report for the financialyear 2018-2019. As you know this was a year of transition for the company. The Resultsannounced are quite encouraging in a sense that the past year was an eventful one interms of overall economic reforms not just for us but for the whole of corporate India.In its sustained effort to achieve uniformity and transparency the Government implementedtwo significant reforms in the last fiscal years GST and RERA which we believe willcontinue to positively impact the Indian economy in the coming years.

The unified tax regime under GST is designed to enable India to be one of the fastestgrowing economies.

In addition RERA a major reform for our industry is fair to both buyers anddevelopers - making the realty sector more transparent and protecting the interests of allstakeholders. Furthermore the State Government s efforts to develop key infrastructureprojects introduce a new development plan for Mumbai and implement policies for ease ofdoing business are all set to transform the lifestyle of its inhabitants and improve theoverall business environment.

As the real estate industry enters a new era of consolidation there is renewedenthusiasm about our sector in the economy. We are at a crucial juncture where we believethat the time is right for developers of repute and credibility to lead the way. Togetherthese reforms are poised to increase investment into the sector aiding growth of not justour industry but the overall economy as well.

Our single-minded focus on the quality of our deliverables and strong process controlhas been recognised by multiple industry bodies with awards and accolades galore.

The awards we receive continue to be a validation of our work and we are extremelyproud of this affirmation conferred upon us by the industry time and again. With theseground-breaking reforms it is clear that in times to come only the agile will thrive.

Your Company is a strong believer in adaptability and has already been attuning itselfto altering market sentiments. As a Company our vision is to create spaces that areaspirational and live beyond our lifetime; developments that set benchmarks for theindustry and enhance the entire ecosystem they operate in.

As always we would like to thank you for continuing to repose your faith in ourorganisation and standing by us. With a sustained emphasis on quality control executioninnovation and ethics the future augurs well for your Company.

Wishing you all a successful year ahead!

Best Wishes

Mitaram Jangid

Managing Director

Bhushan Nemlekar

Whole-Time Director