Assignment / Transfer of Development Rights in respect of Land owned by the Company at Dadar West, Mumbai 400028

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AI summary

Standard Industries Limited's Board meeting on May 12, 2026 approved the assignment of development rights for 1,937.30 sq.mtrs of land at Dadar West, Mumbai to Prabhadevi Developer Private Limited. The developer will construct a residential building and pay Rs. 169.51 crore in cash plus 25,774.61 sq.ft. of residential carpet area (4 flats and 16 parking spaces). The deed is yet to be executed. The meeting also approved audited FY26 results showing standalone revenue of Rs. 3,068.34 lakhs with a net loss of Rs. 1,759.22 lakhs, and recommended a final dividend of Rs. 0.25 per share.

Likely market impact

The development rights transfer will bring significant cash inflow (Rs. 169.51 crore) and real estate assets to the company, providing liquidity amid ongoing losses. This monetization of prime Mumbai land is positive for shareholders seeking to unlock asset value.