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Signature Global reported a consolidated net loss of INR 16.52 crore for the first quarter of the current financial year, compared to a net profit of INR 34.43 crore in the corresponding period last year. The decline came as the company's total income dropped to INR 611.72 crore from INR 898.35 crore a year earlier. The Gurugram-based developer has been actively expanding its residential portfolio in recent years and remains one of the country's leading listed real estate companies despite the weaker quarterly financial performance.
Signature Global has reported a consolidated net loss of INR 16.52 crore for the first quarter of the current financial year, mainly due to lower income during the quarter.
The company had posted a consolidated net profit of INR 34.43 crore in the corresponding quarter of the previous financial year, reflecting a year-on-year decline in its financial performance.
According to a regulatory filing made in the past week, the company's total income declined to INR 611.72 crore during the April-June quarter of the current financial year from INR 898.35 crore in the same period of the previous financial year.
The decline in income contributed to the company's shift from profit to loss during the quarter. However, Signature Global continues to be one of India's leading listed real estate developers, with a strong presence in the residential housing segment, particularly in the Delhi-NCR market. In recent years, the company has expanded its portfolio across the premium, mid-income and affordable housing segments while continuing to launch new projects in key micro-markets.
The company regularly reports its quarterly financial performance through regulatory filings as part of its disclosure requirements for listed entities.
Source PTI
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