Steel Strips Infrastructures Ltd has provided an update regarding the sale and transfer of management rights for SAB Mall in Noida, Uttar Pradesh, following up on their previous communication dated September 6, 2025.

The company has received the balance consideration of ₹2.25 crore, broken down as ₹1.00 crore towards management rights and ₹1.25 crore towards sale consideration, after executing an addendum agreement to sell and Memorandum of Understanding (MOU). Management rights have been transferred to the buyer, and specified original title documents have been handed over as per the MOU.

The sub-lease deed will be executed upon clearance of NOIDA Authority dues and completion of related formalities. The proceeds from this transaction will be utilized for payment of the company's liabilities.

Financial Impact and Operational Details

According to Annexure-1 disclosures:

  • The SAB Mall unit contributed ₹136.03 lakhs (97.93%) of the company's revenue or income during the last financial year ended March 31, 2026, generated from rental income, hoarding & publicity charges, parking area receipts, and maintenance/lease/power backup charges.
  • The unit contributed nil to net worth as the company is loss-making.
  • The addendum to agreement to sell was executed on June 5, 2026, for receipt of ₹2.25 crore.
  • The expected completion date of sale/disposal is August 10, 2026, though this is contingent on receiving No Due Certificate/NOC or any other permission from the NOIDA Authority within stipulated time. If not received, the buyer has option to either extend time or cancel the MOU & Agreement to sell.

Transaction Counterparties

Consideration of ₹2.25 crores will be received from:

  • M/s. SMC Enterprises Private Limited: ₹1.25 Crores
  • M/s Shubham Properties Private Limited: ₹1.00 Crores

M/s. SMC Enterprises Private Limited of New Delhi works predominantly in logistics and supply chain, with business activities including Supply Chain, Warehousing, Real Estate, Commercial Real Estate, and Trading. M/s Shubham Properties Private Limited of New Delhi is a sister concern of the buyer and works predominantly in management and owning of real estate, with activities including Real Estate, Commercial Real Estate, and Real Estate Management.

The buyers are not related to the promoter/promoter group, and the transaction does not qualify as a related party transaction. The sale is outside the scope of a Scheme of Arrangement, and slump sale provisions are not applicable.