SignatureGlobal, a leader in affordable and mid-income housing in India, has reported a robust start to FY25 with INR 31.2 billion in Q1 pre-sales, marking a 255% YoY growth. This achievement surpasses 30% of their ambitious INR 100 billion full-year target. Collections also surged by 102%, reaching INR 12.1 billion, while net debt decreased by 16% to INR 9.8 billion. With an average sales realisation of INR 15,369 per sq ft, the company plans to stabilise this figure with new mid-income housing projects. SignatureGlobal's strong performance underscores their focus on affordability and readiness to meet growing housing demands in India.
SignatureGlobal, a name in affordable and mid-income housing development in India, has kicked off FY25 (April-June 2024) with a bang. Their impressive performance in the first quarter is a strong indicator of their potential for the entire fiscal year.
SignatureGlobal reported pre-sales of INR 31.2 billion in Q1 FY25, reflecting a significant year-on-year growth of 255%. This impressive achievement translates to surpassing 30% of their ambitious target of INR 100 billion in pre-sales for the entire fiscal year. Pradeep Kumar Aggarwal, Chairman and Wholetime Director of Signature Global, mentioned that this fiscal year, they have set an ambitious target of achieving INR 100 billion in pre-sales. By the first quarter alone, they have already surpassed 30% of this target.
SignatureGlobal's robust performance extends beyond pre-sales figures. Their collections also witnessed a significant increase, jumping 102% compared to the same period last year and reaching INR 12.1 billion. This growth in collections indicates a strong customer base and reinforces the demand for SignatureGlobal's projects. The company's financial health also improved, with a notable 16% reduction in net debt to INR 9.8 billion.
While the average sales realisation per square foot has increased to INR 15,369 in Q1 FY25, SignatureGlobal anticipates this number to stabilise as they plan to launch new projects catering to the mid-income housing segment. This focus on affordability aligns with the growing demand for budget-friendly homes in India's urban areas. SignatureGlobal recognises the need for accessible housing solutions and is actively working to bridge the gap.
SignatureGlobal's strong Q1 performance is a positive sign for the company's future. Their commitment to achieving the ambitious pre-sales target and focus on affordable housing positions them well to capitalise on the growing demand in this segment. The coming quarters will be crucial to see if they can maintain this momentum and achieve their full-year targets.
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