Introduction
Leading real estate developer Signature Global has made significant progress by launching housing projects worth ₹5,000 crore in Gurugram. These projects are impacting the city skyline. Ready to provide residents with modern, comfortable living spaces.
Table of contents
- Signature Global’s Investment in Gurugram
- According to the Chairman of Signature Global
- Loss of the Company in the Previous Year,
- Increased by 41% Compared to The Last Year.
Gurugram is also known as Gurgaon. Gurgaon is a major financial and technological hub in the National Capital Region (NCR). With excellent connectivity near Delhi, Gurugram has seen rapid urbanization and real estate development.
Signature Global’s Investment in Gurugram
Signature Global’s investment in Gurugram reflects the growing demand for quality housing in the region. The city attracts professionals, investors, and families. These new projects are poised to cater to the diverse needs of home buyers.
There are affordable apartments, luxury penthouses, and eco-friendly townships. Signature Global’s offerings are likely to contribute significantly to the real estate landscape of Gurugram. As the projects take shape, the city’s infrastructure is likely to add more value. Improve the overall living experience for its residents.
Realty firm Signature Global in Gurugram has tied up with landlords to jointly develop housing projects with a total revenue potential of over ₹5,000 crore.
Housing projects will be developed on a total area of 21.38 acres. The company has signed three separate Joint Development Agreements (JDAs) with landowners for these projects. The development potential in terms of volume is 32 lakh square feet of residential space.
According to the Chairman of Signature Global
Pradeep Agarwal, chairman of Signature Global, said housing demand will increase in major cities. In this context, he said that he entered JDAs to expand his business. About the revenue potential, Agarwal said, “Potential sales from these JDAs could exceed ₹ 5,000 crore.”
Among the three tie-ups, the company entered into JDA for 16.12 acres of land with a developable area of 25 lakh sq ft. The second JDA has a development potential of 5.3 lakh square feet on 4.26 acres. The third JDA is capable of developing 1.9 lakh square feet on 1 acre.
These land parcels are located in Sector 71, Gurugram. Adjacent to the company’s current projects. These JDAs are with some privately owned companies. Agarwal said they are aiming to launch these projects in the next 12–24 months. Meanwhile, Signature Global reported a consolidated net profit of ₹2.17 crore for the quarter ended December.
Loss of the Company in The Previous Year
The company had posted a net loss of ₹44.89 crore in the previous year. In the third quarter of this financial year, the total income increased from Rs. 191.78 crore to Rs. 301.75 crore. For the April-December period of FY 2023–24, Signature Global’s net loss narrowed to ₹24.93 crore from Rs 71.36 crore. Signature Global posted a net loss of ₹56.75 crore for the 2022–23 financial year on total revenue of ₹1,585.87 crore.
Increased by 41% Compared to The Last Year.
Signature Global sold 1,179 units in the October–December period of this financial year, compared to 1,089 units in the same period last fiscal. During the April-December period of the financial year 2023–24, Signature Global sold assets worth ₹3,124.12 crore, up 41 percent from ₹2,209.78 crore in the year-ago period.
Last month, in the third quarter of this financial year, the company registered a year-on-year growth of 47 percent to Rs. 1,262.73 crore in sales bookings. The company, which listed on stock exchanges in September 2023, saw sales bookings of ₹856.77 crore in the year-ago period.
The company sold 3,135 units in the first nine months of this fiscal year, compared to 3,113 units in the same period a year ago. Signature Global is one of the leading real estate developers in Delhi-NCR. It mainly focuses on middle-income and affordable housing segments. The Gurugram-based company launched an initial public offering last year to raise ₹730 crore.
Conclusion
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