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Signature Global and RMZ Group have formed a 50:50 joint venture to develop an 18-acre commercial project in Gurugram, with RMZ investing INR 1,293 crore for its stake. The project will include 35 lakh square feet of office space, retail areas, and two hotels with 500 rooms each, with an estimated capital value of INR 14,000-16,000 crore. The deal strengthens Signature Global's financial position and market credibility. Signature Global has already delivered 16.5 million square feet, while RMZ Group owns assets worth over USD 20 billion across six major Indian cities.
Signature Global (India) Ltd and RMZ Group have joined hands to develop a large commercial project in Gurugram through a 50:50 joint venture. As part of the deal, RMZ Group is investing INR 1,293 crore for a 50 per cent stake in Gurugram Commercity Ltd (GCL), a subsidiary previously wholly owned by Signature Global. Advertisement
The two firms had announced their collaboration in February to create an 18-acre mixed-use project with a total investment of around INR 7,500 crore. The upcoming development will feature a leasable area of 55 lakh square feet, including approximately 35 lakh square feet of prime office space, retail areas, and two hotels with around 500 rooms each. Once completed, the total capital value of the project is expected to reach between INR 14,000-16,000 crore.
Signature Global, GCL, and Millennia Realtors Pvt Ltd (an RMZ entity) executed a Securities Subscription and Purchase Agreement, under which RMZ acquired its stake through a mix of share subscription and purchase. The land parcel required for the project is already owned by the joint venture firm.
Pradeep Aggarwal, Founder and Chairman of Signature Global, highlighted that the project will expand the company's development portfolio and strengthen its financial position. He also noted that RMZ's investment reinforces market confidence in Signature Global's ability to execute large-scale projects.
Till December 2025, Signature Global had delivered 16.5 million square feet of real estate and reported sales bookings of INR 10,290 crore in the 2024-25 fiscal, making it the fifth largest listed real estate company in India. RMZ Group, primarily focused on commercial real estate, has developed and owns over 70 million square feet of assets across six major Indian cities, with a total asset value exceeding USD 20 billion.
Source PTI
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