Signature Global Plans ₹50,000 Crore Housing Projects in Delhi-NCR Over 3 Years

25 Nov 2024 , 06:28 PM

Realty firm Signature Global has set its sights on launching housing projects worth ₹50,000 Crore in Delhi-NCR over the next three years, buoyed by strong consumer demand. The listed company sold properties worth ₹7,200 Crore in the last fiscal year and is targeting ₹10,000 Crore this fiscal year.

Chairman Pradeep Aggarwal said robust demand in Gurugram led to plans for expansion via new projects and land acquisitions.

Signature Global has already secured land in Gurugram and surrounding regions to accommodate future launches. The company had guided for ₹16,000 Crore of launches this fiscal which have come at ₹9,000 Crore in H1 FY25 and ₹5,000 Crore in Q3 FY2. Aggarwal said he is confident of surpassing the annual launch guide with the remaining quarters of this fiscal. 

The company has set sales bookings guidance for FY25 at ₹10,000 Crore. It has already touched ₹5,900 Crore in H1 FY25, much good growth compared to last year. Sales bookings have improved threefold at ₹5,900 Crore in April-September 2024 against ₹1,860 Crore in the same period last year. In FY24, Signature Global had sales bookings of ₹7,270 Crore with healthy presence in the Gurugram market.

It scouts the entry into Noida, Greater Noida and Yamuna Expressway property markets while continuing with land acquisition in Gurugram.

The consolidated net profit for the quarter under review stood at ₹4.15 Crore against net loss of ₹19.92 Crore in the corresponding quarter the previous year. Total income for Q2 FY25 was at ₹777.42 Crore, up from ₹121.16 Crore for the same quarter last year.

Signature Global has so far delivered 11 million square feet of housing area thus far. The company has a sales pipeline of 32.2 million square feet of saleable area in future projects and 16.4 million square feet in ongoing developments.