Share price of the leading real estate development companies in India moved up by nearly 5.33 percent on BSE to Rs. 1,374.95 in the morning trading session of Monday, compared to its previous closing price of Rs. 1,305.35, after reporting 240 percent YoY pre-sales growth in the Q4 FY24 business updates.
With a market capitalisation of Rs. 18,936 crores, at 10:39 a.m. the shares of Signatureglobal (India) Limited were trading in the green at Rs. 1,349.8, up by 3.33 percent.
The company has delivered multibagger returns of about 193.8 percent in the last one year and nearly 179.6 percent in the last six months. So far in 2024, it has given positive returns of around 46.8 percent.
According to recent regulatory filings with the stock exchanges, Signature Global achieved Q4FY24 pre-sales for Rs. 4,140 crore in Q4 FY24 from Rs. 1,220 crore, up by 240 percent on a YoY basis.
For FY24, pre-sales have registered a growth of 112 percent to Rs. 7,270 crore from Rs. 3,430 crore, with again the company’s best annual pre-sales performance, exceeding FY24 guidance of Rs. 4,500 crore.
Signatureglobal (India) also recorded its highest quarterly and annual collection. The company’s collections in FY24 increased by 62 percent to Rs. 3,110 crore from Rs. 1,920 crore in FY23, beating its annual guidance of Rs. 2,900 crore, whereas, for Q4 FY24 the collections were Rs. 1,010 crore with a growth of 72 percent from Rs. 590 crore.
Sales realisation contributed significantly to sales growth, rising 49 percent to Rs. 11,762 per sq. ft in FY24 from Rs. 7,886 per sq. ft in FY23. The company forayed into premium housing with the successful launch of a large group housing project in Gurugram during Q4 2024.
The net debt stood at Rs. 1,160 crore at the end of FY24 compared to Rs. 1,090 crore in FY23. There is a very slight increase in net debt, but this is due to larger pre-sales which have more than doubled for the year.
In terms of financials, the company’s revenue from operations grew by 186.01 percent from Rs. 98.53 crore in Q2 FY23-24 to Rs. 281.81 crore in Q3 FY23-24.
The net profit of the company also increased by 110.93 percent to Rs. 2.18 crore in Q3 FY23-24 from a loss of Rs. 19.93 crore in Q2 FY23-24.
Signatureglobal (India) Limited is a real estate development company operating in the National Capital Region of Delhi (Delhi-NCR) focussed on offering affordable and mid-segment housing.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
