Page 2 - Signature Global

ICICI Securities raises Signature Global target price, sees 35% upside

Following the boost in its target price, Signature Global share gained 1.77% intraday. The price hike was attributed to its strong project portfolio and its scope for expansion beyond Gurugram.

Signature Global shares slip 6.5% after multiple block deals

Signature Global had reported a consolidated net profit of Rs 579.7 crore in Q1FY25, while it had incurred a loss of Rs 7.5 crore in the corresponding quarter, last year.

Signature Global plans to foray in Delhi, Noida property mkts

Realty firm Signature Global, which has a significant presence in the Gurugram property market, is looking to enter Delhi, Noida and Greater Noida by launching housing projects in these new locations. Gurugram-based Signature Global, which got listed in September last year after raising Rs 730 crore through an Initial Public Offering (IPO), has so far delivered 11 million square feet of area. The company has a pipeline of about 32.2 million square feet of saleable area in the forthcoming projects along with 16.4 million sq ft of ongoing projects. "We are also open to entering new markets within the NCR region,... be it the main Delhi region, or the Noida market. You may not see a launch happening within this financial year but over the next financial year, you will probably see us kind of coming up with a project which is outside of Gurugram," Signature Global Chief Executive Officer (CEO) Rajat Kathuria told investors. According to a transcript of discussion with analysts, the CEO

Signature Global cuts net debt by 16% in June quarter on strong sales

Realty firm Signature Global's net debt has come down by 16 per cent in June quarter to Rs 980 crore on better cash flows amid strong sales in its housing projects. In its latest investor presentation for the June quarter, the company informed that its net debt stood at Rs 980 crore as on June 30, 2024, as against Rs 1,160 crore at the end of the last financial year. "The company aims to keep net debt below 0.5 times of the projected operating surplus for the ongoing financial year, as a long term discipline," the presentation said. Earlier this week, Signature Global reported a consolidated net profit of Rs 6.76 crore for the quarter ended June on higher income. The company had posted a net loss of Rs 7.22 crore in the year-ago period. Total income rose to Rs 427.98 crore in April-June of 2024-25 fiscal from Rs 178.90 crore in the corresponding period of the previous year. Pradeep Kumar Aggarwal, Chairman and WholeTime Director, highlighted that, "In the first quarter itself, we

Signature Global to launch housing projects worth Rs 13k cr by March: CMD

Realty firm Signature Global will launch multiple housing projects with a revenue potential of around Rs 13,000 crore by March next year to expand business and encash strong demand. Signature Global Chairman Pradeep Kumar Aggarwal said, "We have launched one housing project worth around Rs 3,000 crore in the first quarter of 2024-25. We have a strong launch pipeline for the remaining three quarters". "We are looking at launching more housing projects in Gurugram, Manesar and Sohna belt. These upcoming projects will have a revenue potential of around Rs 13,000 crore," he added. Gurugram-based Signature Global, which got listed on the stock exchanges last year, is one of the leading real estate developers in the country. Asked about the execution of projects, Aggarwal said the company is focusing a lot on the timely delivery of projects. "We will invest around Rs 2,500 crore this fiscal on the construction activities," he said. On sales performance, Aggarwal expressed confidence th

Signature Global to invest Rs 2,500 cr on housing projects in FY25: CMD

Realty firm Signature Global will invest around Rs 2,500 crore this fiscal on the construction of its various housing projects, its Chairman Pradeep Kumar Aggarwal said on Wednesday. He expressed confidence that the company would meet the sales bookings guidance of Rs 10,000 crore for the current 2024-25 financial year, a significant growth from Rs 7,270 crore in the preceding year. "We have speeded up the construction work across all our projects. We will be investing around Rs 2,500 crore during this financial year on pure construction activities," Aggarwal said on the sidelines of the Assocham real estate conference. He said the company is expecting to collect Rs 6,000 crore from customers this fiscal. The company would also utilise the surplus internal cash flow to acquire land and reduce debt, he added. "We are looking for land in Noida and Delhi markets for the development of housing projects," he said, adding that the company intends to launch projects in these two new citi

Signature Global Q1 sales bookings jump 3.5X to Rs 3.1K cr on strong demand

Realty firm Signature Global on Sunday reported a 3.5 times jump in sales bookings to Rs 3,120 crore for the April-June quarter on high demand for its housing projects. The company's sales bookings stood at Rs 820 crore in the year-ago period. According to a regulatory filing, Signature Global sold 968 units in the first quarter of this fiscal against 894 units in the corresponding period of the previous year. In terms of volume, its sales bookings more than doubled to 2.03 million square feet from 0.91 million square feet a year earlier. Signature Global Chairman Pradeep Kumar Aggarwal said the company continues to ride on a high growth trajectory, achieving robust pre-sales and collection figures for the third consecutive quarter. "We ended the last fiscal year on an exceptional note, exceeding our guidance by a substantial margin in both pre-sales and collections. This fiscal year, we have set an ambitious target of achieving Rs 10,000 crore in pre-sales. Remarkably, in the fir

High-rise safety concern in Gurugram after plaster falls at Sec-106, 107

Chunks of concrete plaster fell from the balconies of two residential complexes, Paras Dews in Sector 106 and Signature Global Solera in Sector 107 of Gurugram

Stocks to Watch, June 14: Voda Idea, Dr Reddy's, Suzlon, Signature Global

Stocks to Watch on Friday, June 14: Vodafone Idea (Vi) has decided to offer a Rs 2,458 crore stake to long-term vendors Nokia and Ericsson in a bid to partially clear outstanding dues

Stocks to watch on May 21: Oil India, India Cements, Signature Global

Despite tech shares propelling the Nasdaq Composite to record highs, most Asia-Pacific markets saw declines

Signature Global aims to sell Rs 10,000 cr worth homes in FY25, up 38%

Realty firm Signature Global Ltd has set a target to sell housing properties worth Rs 10,000 crore in 2024-25, up 38 per cent from the last fiscal, as it expects demand for residential assets to remain strong. In its investors presentation, the company has given a guidance of Rs 10,000 crore for sales bookings in the current fiscal. The company's sales bookings more than doubled to Rs 7,268 crore in 2023-24 from Rs 3,430 crore in the preceding year. The company, which is mainly developing projects at Gurugram in Haryana, sold 4,619 units last fiscal as against 4,512 units in 2022-23. In terms of area, Signature Global sold 6.18 million square feet in 2023-24, up from 4.35 million square feet in the preceding years. Sales realisation for 2023-24 averaged Rs 11,762 per square feet compared to Rs 7,886 per square feet in the previous fiscal. Pradeep Kumar Aggarwal, Chairman of Signature Global, said, "The financial year 2023-24 marked a significant period for our company, characteri

Signature Global net debt up 6% in FY24 to Rs 1,160 cr on land acquisitions

Realty firm Signature Global's net debt increased by 6 per cent last fiscal to Rs 1,160 crore due to land acquisitions for the development of housing projects. According to the latest operational update, the company's net debt stood at Rs 1,160 crore at the end of 2023-24 fiscal, as compared to Rs 1,090 crore in FY23. "The increase in net debt is due to significant addition to our land portfolio during the current financial year," Gurugram-based Signature Global said. On Sunday, Signature Global reported that its sales bookings more than doubled to Rs 7,270 crore in 2023-24 from Rs 3,430 crore in the previous financial year. In March, the company sold 1,008 luxury homes for around Rs 3,600 crore in its new project at Gurugram, Haryana, helping the company achieve record sales bookings during the last fiscal and beating the target of Rs 4,500 crore for 2023-24. The company sold 4,619 units during the last fiscal, as against 4,512 units in 2022-23. In terms of area, Signature Globa

Signature Global Q4 sales bookings jump 3.4 times to Rs 4,140 crore

Realty firm Signature Global on Sunday reported a more than three-fold jump in its sales bookings to Rs 4,140 crore in the fourth quarter of last fiscal year, driven by strong demand for its luxury projects in Gurugram. In a regulatory filing, the company informed that it clocked record sales bookings in the fourth quarter as well as in the full 2023-24 that saw sales more than doubling to Rs 7,270 crore from the previous year. As per the data, Signature Global clocked sales bookings of Rs 4,140 crore in the January-March quarter of 2023-24 as against Rs 1,220 crore in the year-ago period. The company sold 1,484 units in the January-March period of last fiscal year as against 1,399 units in the year-ago period. In terms of volume, the company sold 2.98 million square feet area as against 1.41 million square feet. In March, Signature Global sold 1008 luxury homes for around Rs 3,600 crore in its new project at Gurugram, Haryana, helping the company achieve record sales bookings las

Signature Global to invest over Rs 1,200 cr/year to boost housing projects

Realty firm Signature Global will invest Rs 1,000-1200 crore per year to purchase land for the development of housing projects and encash strong consumer demand, its Chairman Pradeep Aggarwal has said. In an interview with PTI, he highlighted that housing demand has been very strong in the past two years across all segments, be it affordable, mid-income, premium, luxury or super luxury. Aggarwal expects the demand momentum to sustain on better economic growth. "We will be investing Rs 1,000-1200 crore every year for outright purchase of land to achieve our growth plan," Aggarwal said. Apart from outright land acquisition, he said the company would also be open to partnership with landlords for the development of housing projects. "We will continue to focus on the Gurugram property market for short to medium term," he said. On sales bookings, Aggarwal said the company is expecting to reach around Rs 7,200 crore this fiscal against Rs 3,430 crore in the previous financial ...

Signature Global to invest Rs 2,200 crore to develop housing project

Realty firm Signature Global will invest Rs 2,200 crore over the next five years to develop a new luxury housing project in Gurugram as part of its expansion plan amid strong consumer demand, its Chairman Pradeep Aggarwal said. "We have launched a new housing project in Sector 37D, Gurugram on Dwarka Expressway. The total units will be 1,008 in the project," he said. The company has already sold the entire 1,008 luxury flats for over Rs 3,600 crore, reflecting strong consumer demand despite the price rise. Aggarwal said the company received 5,400 EoIs (Expressions of Interest) from customers in this new 16.5-acre housing project 'DE LUXE-DXP'. Asked about the project cost, Aggarwal said the company would invest around Rs 2,200 crore to develop this project. The investments will be funded through internal accruals and advances from customers against sale bookings. He said the company would deliver this new housing project in 2028. With sales of Rs 3,600 crore in this new project,

Signature Global sells 1,008 flats in Gurugram for over Rs 3,600 crore

Realty firm Signature Global on Sunday said it has sold more than 1,000 flats in its luxury housing project in Gurugram for over Rs 3,600 crore on strong demand for residential projects. Housing demand has been very strong in the last two years, especially in the luxury homes segment. In a regulatory filing, Signature Global informed that it has achieved "pre-formal launch sales of more than Rs 3,600 crore for its latest premium housing residential development project 'DE LUXE-DXP' at Sector 37D in Gurugram. The project is spread over 16.5 acres and has a sales potential of 2.7 million square feet. Signature Global will develop 1,008 units in this housing project. Pradeep Aggarwal, Chairman of Signature Global, said, "With growing affluence in the middle class, a significant population segment has developed better purchasing power and higher aspirations". These factors have led to growing demand in the mid-housing segment, he added. "...modern-day consumers are seeking a mix of

Signature Global to develop housing project in Gurugram as demand surges

Realty firm Signature Global has partnered the landlord to develop a housing project on a 20-acre land in Gurugram with a revenue potential of Rs 4,500 crore, as part of its expansion plan. Signature Global has entered into a Joint Development Agreement (JDA) for 20.32 acres land in sector 71, southern peripheral road, Gurugram. The total development potential on this land is 28.4 lakh square feet of residential space. Signature Global Chairman Pradeep Aggarwal said the potential sales realisation would be around Rs 4,500 crore in this upcoming project. With a surge in housing demand after the COVID pandemic, real estate developers have been acquiring land outright as well as partnering with landlords to expand their businesses. Earlier this month, Signature Global had announced the signing of three separate JDAs with landlords to develop housing projects on a total 21.38 acres land parcels. The combined development potential in volume terms is 32 lakh square feet of residential

Signature Global Q3 bookings up 47% to Rs 1,263 cr on better housing demand

Realty firm Signature Global on Monday reported 47 per cent increase in its sales booking to Rs 1,262.73 crore for the third quarter of this fiscal on strong housing demand. Its sale bookings stood at Rs 856.77 crore in the year-ago period. In a regulatory filing, Signature Global said the company sold 1,179 units in October-December period of this fiscal as against 1,089 units in the year-ago period. In terms of volumes, sale bookings rose to 1.31 million square feet in the third quarter of this fiscal from 1.10 million square feet in the year-ago period. During April-December 2023-24 , Signature Global achieved 41 per cent growth in sale bookings to Rs 3,124.12 crore from Rs 2,209.78 crore in the year-ago period. It sold 3,135 units in the first nine months of this fiscal, marginally up from 3,113 units in the corresponding period of the previous year. In volume terms, sale bookings grew 9 per cent to 3.2 million square feet during April-December of this fiscal from 2.94 millio

Signature Global Q2 loss narrows to Rs 20 cr; buys 25 acres in Gurugram

Realty firm Signature Global has posted a consolidated net loss of Rs 19.92 crore in the second quarter of this fiscal and said it will acquire an entity having 25 acres of land in Gurugram at nearly Rs 500 crore enterprise value. Its net loss stood at Rs 59.25 crore in the year-ago period. Total income also fell to Rs 121.16 crore during July-September period of 2023-24 financial year from Rs 135.68 crore in the corresponding period of the previous year, according to a regulatory filing on Thursday. Total expenses declined to Rs 144.84 crore in the second quarter of this fiscal year from Rs 223.33 crore in the year-ago period. Signature Global also announced that it has signed a definitive agreement to acquire 100 per cent stake in Gurugram Commercity Pvt Ltd (GCPL), which owns 25.14 acre land in Sector 71 Gurugram. The enterprise value of GCPL is Rs 495 crore. "The acquisition of GCPL will result in the Company owning ~25.14 acres of land parcel in the prime location of sector-

Signature Global buys 26 acre land in Gurugram to build housing project

Realty firm Signature Global on Monday said it has acquired 25.75 acre land in Gurugram to develop a group housing project. The company did not disclose the deal value and the name of the seller. In a regulatory filing, Signature Global said the "company has entered into a Sale Deed for acquiring a land parcel admeasuring approximate 25.75 acres located at village Fazilpur, Gurugram, Haryana, for development of a group housing project." This land parcel has the overall potential developable area of about 3.25 million square feet, it added. Last month, Signature Global successfully launched its Initial Public Offering (IPO) to raise Rs 730 crore. The public issue, comprising a fresh issue of shares worth Rs 603 crore and an Offer For Sale (OFS) component of Rs 127 crore, was subscribed 11.88 times. Realty firm Signature Global has reported a 38 per cent growth in sales bookings at Rs 1,861.39 crore in the first six months of this fiscal year, on better demand for its affordable an