Sterling Green Woods Ltd Company Summary

Sterling Green Woods Limited was erstwhile incorporated as Sterling Enterprises Private Limited in May 1992. With due approval from the Registrar of Companies and shareholders resolution, the Company got converted into a Public Limited Company and the name of the Company was changed to Sterling Green Woods Limited in 2007. Established way back in 1970 as a partnership firm, the Company was dealing in estate development, construction contracts and organizing land and housing development schemes and acting as engineers, designers, architects and consultants.

It pioneered into the field of land development schemes of fully self-sufficient mini-townships. Promoted by the Sterling Group of Ahmedabad, the Company implemented a holiday-resort project - Greenwoods Lake Holiday Resort, about 10 km from Ahmedabad in 1994. It came out with a public issue in April, 1994 to part-finance the project.

3-star category registration has been granted to the rooms at the resort.The firm was founded by Mr B. Kumar, a civil engineer, having extensive experience in developing major infrastructure projects for the Central Government. He worked on design and construction of river valley projects, bridges, industrial buildings, plotted developments etc.

He was the founding president of Ahmedabads oldest and most reputed Club - The Rajpath Club.The Company is currently engaged in several ambitious projects. One of this is The Sarovar Village Township, Sarovar Village with A Star resort and other amenities at Sanand Nalsarovar Road. The Delhi-Mumbai Industrial Corridor (DMIC) approved a rail-based multi-modal logistics park at Sanand and Dholera.

The project was selected as the one of the early bird projects for the proposed Dholera special Investment Region. Distance :- 30 Kms. During 1990-95, the Company had developed and promoted Ahmedabad citys first multi-specialty 250-bed corporate hospital in collaboration with Apollo Hospitals.

There came a trend-setting project which ushered in a revolution in the healthcare scene in Ahmedabad city with many more corporate hospitals opening up soon after. In 2008, all of a sudden, there was a global recession and financial melt down in all the business sectors. Both real estate and hospitality were one of the worst affected.

The Company also experienced lower sales in real estate from November 2008 onwards. Their resorts experienced lower Occupancies, club memberships also dipped sharply. Mostly development, renovation jobs were completed during the year 2008.

The golden swan club building and the spa was made operational in 2008-09. The founder Chairmans aim and vision was to convert the Companys resort into the star category. After the the sad demise of the fonder chairman, the existing management decided to move forward as per his vision and convert Companys resort into star category.

The Company decided to carry out the development of the resort based on the plan approved by the founder Chairman. The founder chairman divided the development of the resort in four phases. The first phase of development was completed, however the remaining phase was not completed due to ongoing litigation, lack of funds and various other reasons.

Because of the said reason, the management was not able to rollout the membership drives also. These reasons also affected the current operation of the resorts which ultimately resulted into the loss during the year 2018-19.