This real estate company has set a target of achieving Rs.10,000 crore in sales for the financial year 2025. It operates in the residential and commercial sectors and has developed projects in the Delhi-NCR region. The company is backed by marquee equity investors like Nomura, HDFC and IFC.
What is the news
Gurugram-based real estate developer Signature Global India is on course to meet its sales target of Rs.10,000 crore for the current financial year. In the first quarter, the company reported pre-sales of Rs.3,120 crore and collections amounting to Rs.1,210 crore.
In terms of revenue from operations, Signature Global India reported revenue of Rs.400 crore in the quarter ended June 2024, 141.2 percent up from Rs.165.85 crore in Q1 FY24. However, the revenue declined 42.3 percent from Rs.694.3 crore in Q4 FY24.
In an interview with NDTV Profit, Rajat Kathuria, CEO of Signature Global, expressed confidence in the company’s growth trajectory, emphasizing the strong momentum achieved in the first quarter.
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Kathuria noted, “In this quarter alone, we achieved sales of approximately Rs.3,100 crore, nearly 90 percent of our total sales for the entire previous year.” He added that this robust performance positions the company well to meet its Rs.10,000 crore sales target for FY25.
“We’re on track to achieve our pre-sales goal of Rs.10,000 crore, having already collected Rs.400 crore in revenue against our annual guidance of Rs.3,800 crore,” he said.
Kathuria also mentioned that the company’s sales are evenly split between the premium and mid-income segments. He projected that sales would be balanced between properties priced around Rs.11,500 to Rs.12,000 per square foot and those ranging from Rs.15,000 to Rs.16,000, with the average realization expected to fall between Rs.13,000 and Rs.13,500 per square foot.
Signature Global’s growth in the June quarter was bolstered by a strong pipeline of current and upcoming projects. The company has already delivered 11 million square feet of housing area and has around 32.2 million square feet of saleable area planned for future developments.
Additionally, Signature Global is actively working on 16.4 million square feet across 27 ongoing projects, which are anticipated to be completed over the next eight to nine quarters.
Impact on share price
Following the announcement of its sales growth guidance, Signature Global’s share price rose by 2.08 percent, reaching an intra-day high of Rs.1,512.95 per share on Wednesday, up from its previous close of Rs.1,482.05.
About the company
Signature Global is the largest real estate development company in the National Capital Region of Delhi in affordable and lower mid-segment housing in terms of units supplied, with a market share of approximately 19 percent.
Written by – Siddesh S Raskar
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