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Signature Global has set a target of achieving sales bookings of Rs 10,000 crore in the current fiscal year, as against Rs 7,270 crore in the preceding year.
Real estate is thriving in Gurugram, and Signature Global, a prominent realty firm, is set to make a significant mark by investing approximately Rs 4,000 crore in two new premium residential projects as part of its expansion strategy.
Signature Global’s Investment Plan
Pradeep Kumar Aggarwal, Chairman of Signature Global, revealed in an interview with PTI that the company plans to launch over 4 million square feet of premium residential space in Gurugram in the upcoming quarter. These projects will cater to the Rs 2–5 crore segment, which he described as having strong demand but limited supply.
Aggarwal emphasized that demand for residential properties is robust, especially among large and established players, despite some moderation over the years. The total development cost of the two projects, including land, construction, and other expenses, is estimated to be Rs 4,000 crore.
He noted that the demand for residential properties, especially for big reputed players, remains strong, although he acknowledged that the frenzy seen in the last few years have subsided to some extent.
Asked about the total project cost to develop the two new housing projects, he said it will be around Rs 4,000 crore, including land, construction and other costs. On the operational front, Signature Global sold properties worth Rs 8,670 crore during the April-December period of this fiscal year, a sharp rise from Rs 3,120 crore in the year-ago period.
Average pre-sales realisation for April-December period of 2024-25 increased to Rs 12,565 per square feet, compared to Rs 11,762 per square feet in the entire 2023-24.
Aggarwal expressed confidence in surpassing the sales bookings target for the current fiscal. He also shared that the company is targeting to achieve zero net debt during the next fiscal on healthy internal cash flow.
The company has reduced its net debt in the October-December quarter to Rs 740 crore, from Rs 1,020 crore at the end of the second quarter of this fiscal year.
During the first nine months of this fiscal, the company has delivered 24.2 lakh square feet area, up from 20 lakh square feet in the year-ago period. Since inception, Signature Global has so far delivered 120 lakh sq ft of housing area.
The company has a robust pipeline of 350 lakh sq ft of saleable area in its forthcoming projects, along with 158 lakh sq ft of ongoing projects. The company has been buying land to expand its business.
(With inputs from PTI)
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