Sumit Woods’ subsidiary -- Sumit Matunga Builders has entered into an agreement with M/s. JSN Realtors LLP and its existing partners for acquisition of a 60% partnership interest in JSN Realtors LLP by way of capital contribution. The 60% partnership interest is to be acquired for consideration of Rs 60 lakh.
Post investment, Sumit Matunga Builders will hold an aggregate 60% partnership interest in JSN Realtors LLP, thereby resulting in substantial control over the affairs of the LLP and making JSN Realtors LLP an entity under the control of the company. Through this acquisition, the company aims to expand its real estate activities, with a view to generating sustainable returns from development and monetisation of the property.
Sumit Woods is engaged in the construction and development activity for the last 21 years and has constructed more than 50 residential and commercial projects in Mumbai, Thane and Goa. It has handled over more than 4500 units since its incorporation.
