Signature Global Purchases 16-Acre Land in Gurugram for ₹300 Crore, Plans Premium Housing Project

Signature Global has acquired a significant 16.12-acre land parcel in Sector 71, Southern Peripheral Road, Gurugram, Haryana, for nearly ₹300 crore. This acquisition is a strategic move as the company plans to develop a premium housing project on the newly acquired land. According to Pradeep Kumar Aggarwal, the chairman of Signature Global, the housing units in this project will be priced between ₹3 crore and ₹4 crore. The total saleable area for the development is expected to be approximately 27 to 28 lakh square feet.

The land was purchased through a sale deed executed on January 10, 2025. Signature Global has outlined that the project will have a substantial developable area of around 2.73 million square feet. Aggarwal stated that although the cost of the land is ₹300 crore, the company anticipates the housing units will be positioned in the premium category, with prices ranging from ₹3 crore to ₹4 crore.

Signature Global plans to start work on the project once regulatory approvals are secured, which are expected to take at least six months. Once completed, the development will offer a significant addition to the premium housing market in Gurugram, catering to the high-end residential demand in the region.

Signature Global has traditionally been focused on the affordable housing segment, but the company has recently shifted its attention to mid-income, premium, and luxury homes. This marks a significant departure from its earlier strategy, as it looks to tap into a growing demand for higher-priced homes in key urban areas.

The firm’s move to develop premium housing projects is seen as a response to the evolving real estate market, where there is an increasing demand for upscale properties. The company’s plans align with its ambition to cater to a more diverse range of buyers while maintaining its stronghold in the affordable housing market.

Apart from the Gurugram project, Signature Global is also looking to expand its footprint into other key markets, such as Noida and Greater Noida. The company aims to diversify its portfolio and capitalize on the ongoing demand for residential properties in these areas.

Earlier this month, Signature Global reported a significant growth in its sales bookings. The company saw a more than two-fold increase in sales, recording ₹2,770 crore in sales bookings compared to ₹1,260 crore during the same period last year. For the financial year 2023-24, Signature Global achieved total sales bookings of ₹7,270 crore. The company has set an ambitious target of ₹10,000 crore for the current fiscal year.

While Signature Global's move towards premium housing marks a new direction, it is also a natural progression given the changing dynamics of the real estate sector. As the market demand shifts toward mid to high-end homes, companies like Signature Global are positioning themselves to cater to this emerging segment. Their strategic shift has the potential to significantly increase the company's revenue and overall market presence.

The company has already delivered 120 lakh square feet of housing area and currently has a robust pipeline with 350 lakh square feet of saleable area in the works. This growth is underpinned by a series of high-profile projects that will likely contribute to the company’s increasing market share in the real estate industry.

Motilal Oswal Financial Services, a leading brokerage firm, recently highlighted Signature Global’s potential to capitalize on the ongoing demand in the real estate sector. The company’s project pipeline of 24.3 million square feet positions it well for future growth. Analysts have also pointed out that the company's shift from affordable housing to the premium segment could help it achieve a cash-positive balance sheet by the end of the 2024-25 fiscal year.

Signature Global's expansion into the premium housing market is expected to strengthen its position. With good financial performance and a growing project pipeline, the company is aiming for continued growth in the real estate sector.

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