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Signature Global is set to invest approximately INR 4,000 crore during the current financial year to acquire land and fuel construction activities across its residential projects in Gurugram. The company had allocated INR 1,070 crore in the past year towards acquiring 48 acres in Gurugram. Of the upcoming capital deployment, INR 1,200-1,500 crore will be used for land acquisition, while INR 2,500 crore has been earmarked for construction. The firm reported robust sales bookings of INR 10,290 crore during the last fiscal and is targeting INR 12,500 crore in the current one. Signature Global's strong financials reflect a significant rise in profitability and income, marking its ascent among India's top five listed real estate firms.
Signature Global, a prominent player in the Indian real estate sector, is gearing up to invest nearly INR 4,000 crore in the ongoing fiscal year, with a sharp focus on acquiring land parcels and executing large-scale construction in Gurugram. According to a top executive from the company, the strategy is aimed at capitalising on sustained housing demand in the Delhi-NCR region. Advertisement
During a recent interaction, Signature Global Chairman Pradeep Kumar Aggarwal remarked that the company had spent INR 1,070 crore in the previous financial year to secure 48 acres of land in Gurugram, Haryana. He pointed out that land remains a critical raw material for real estate developers and disclosed that the firm would now be allocating INR 1,200-1,500 crore specifically for land acquisition in and around the Delhi-NCR belt to facilitate expansion.
Aggarwal observed that both end-users and investors were continuing to drive housing demand, resulting in a notable demand-supply gap. He stated that Signature Global plans to invest close to INR 2,500 crore towards construction activities this fiscal, which marks a rise from INR 1,900 crore spent in the previous year.
Reflecting on company performance, Aggarwal shared that Signature Global had surpassed its operational targets and seen marked improvement across metrics. The firm recorded sales bookings of INR 10,290 crore during the past fiscal, up by 42 per cent from the previous year, placing it amongst the top five listed real estate developers in terms of pre-sales.
With eyes on consistent growth, the company has issued a guidance of achieving INR 12,500 crore in sales bookings in the ongoing financial year. Financial performance also mirrored this momentum, as Signature Global posted a net profit of INR 101.2 crore during the last fiscal-up significantly from INR 16.32 crore in the year before. Total income surged to INR 2,637.99 crore, up from INR 1,324.55 crore in 2023-24.
The developer, known for its portfolio of residential projects in Gurugram, has already delivered 13.5 million sq ft of housing and has around 21.6 million sq ft of saleable area in the pipeline. In addition, it is actively working on 46.38 million sq ft of ongoing projects, with a target to complete these within the next two to three years.
With a significantly stronger financial base and a robust development pipeline, the firm is strategically positioned to capture future growth. Its commitment to long-term expansion and operational consistency highlights a forward-looking approach in a competitive real estate landscape.
Source - PTI
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