Signature Global, the Delhi NCR based real estate developer, reports a robust 47% surge in Q3 FY 2023-24 sales bookings, reaching Rs 1,262.73 crore. Sales of 1,179 units, up from 1,089 in 2022, contributed to this growth. In the first nine months, a 41% increase in sales bookings was recorded, totalling Rs 3,124.12 crore. The successful IPO in September 2023, raising Rs 730 crore, showcases investor confidence. CEO Rajat Khaturia outlined ambitious plans for residential projects spanning 21 million square feet in the next six to seven years.
Signature Global, has posted a remarkable 47% surge in sales bookings, reaching Rs 1,262.73 crore for the third quarter of the financial year 2023-24. The company, known for its commitment to quality and innovation, sold 1,179 units between October and December 2023, up from 1,089 during the same period in 2022, according to a regulatory filing.
This robust performance represents a significant leap from the Q3 FY 2022-23, where Signature Global's sales bookings stood at Rs 856.77 crore. The company's momentum continued into the first nine months of FY 2023-24, recording a 41% growth in sale bookings, totalling Rs 3,124.12 crore compared to Rs 2,209.78 crore in the year-ago period.
In terms of units sold, Signature Global saw a marginal increase from 3,113 units in April-December 2022 to 3,135 units in the corresponding period of the current fiscal year. The company's sales bookings in square feet rose to 1.31 million in Q3 FY24, up from 1.10 million in the year-ago period. Volume-wise, the sale bookings grew by 9%, reaching 3.2 million square feet in the first nine months of FY 24 compared to 2.94 million square feet in the same period last year.
Looking back at the full 2022-23 financial year, Signature Global achieved notable success by selling 4,512 units, generating a revenue of Rs 3,430.58 crore. The company's commitment to transparency is reflected in the disclosure of a net debt standing at Rs 835.4 crore at the end of Q3 FY24.
Noteworthy is the successful Initial Public Offering (IPO) launched by Signature Global in September 2023, raising Rs 730 crore. The public issue, comprising a fresh issue of shares worth Rs 603 crore and an Offer for Sale (OFS) of Rs 127 crore, witnessed a robust response, being subscribed 11.88 times.
Rajat Khaturia, CEO of Signature Global, shared the company's ambitious plans, stating that they aim to develop residential projects spanning around 21 million square feet in the next six to seven years. Signature Global, backed by equity investors HDFC and IFC, has already delivered over 6 million square feet and continues to drive innovation in the real estate sector with ongoing projects covering 17.21 million square feet.
As the real estate landscape evolves, Signature Global stands as a testament to its commitment to excellence, growth, and creating value for its stakeholders.
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