Signature Global Eyes for ₹10,000 Crore Sales in FY25 For Residential Projects

Gurugram-based realty firm, Signature Global Ltd, is setting a target of selling housing properties worth ₹10,000 crore in 2024-25. This target represents a substantial 38% increase from the previous fiscal year, as it expects residential real estate assets to remain strong. 

The company's sales bookings have experienced an impressive surge, more than doubling from ₹3,430 crore in the preceding year to a staggering ₹7,268 crore in 2023-24. The surge in sales bookings is credited to Signature Global's strategic emphasis on developing projects primarily in Gurugram, Haryana. Despite the challenges posed by the pandemic, the company managed to sell 4,619 units in the last fiscal year, compared to 4,512 units in 2022-23. Moreover, there was a significant increase in the area sold, from 4.35 million square feet to 6.18 million square feet. 

A pivotal factor driving Signature Global's success is its transition from affordable housing to mid-income housing, alongside its foray into the premium segment. This strategic shift has enabled the company to tap into a broader market segment, resulting in substantial growth in its presence in the National Capital Region (NCR) and an expansion of its market share. 

Looking ahead to FY25, Pradeep Kumar Aggarwal, Chairman of Signature Global, underscored the company's focus on risk mitigation and the creation of opportunities to ensure sustainable profitability and long-term value for all stakeholders. The company's recent financial performance underscores its commitment to delivering value to investors, with a more than 5-fold jump in consolidated net profit to ₹41.21 crore for the quarter ended March.

Despite the challenging economic landscape, Signature Global remains bullish about its growth prospects, boasting a robust portfolio of 48.6 million square feet, comprising ongoing and forthcoming projects. The success of the company's IPO last year, which raised ₹730 crore, reflects investor confidence in its growth trajectory and strategic initiatives. 

Signature Global's ambitious sales target for FY25 not only underscores its confidence in the resilience of the real estate market but also highlights its forward thinking approach in delivering value to its stakeholders.