Signature Global recorded 65 percent increase in revenue to Rs 1,327.4 crore in the first half of this fiscal year 2023, up from Rs 804.8 crore in the previous year.
Pre-sales booking increased 38 percent to Rs 1,861.3 crore in the first half of the year. The residential units booked before construction or completion is comes under pre-sales revenue.
Pre-sales revenue increased 4.23 percent year on year to Rs 981.6 crore in the second quarter, after more than doubling to Rs 879.7 crore in the first quarter, according to the business sources.
Total cash collections grew 58 percent year on year to 723.6 crore in the second quarter and 74 percent to Rs 603.8 crore in the first quarter. In the first half of Financial Year 2024, the sales increased by 4.4 percent to 1.9 million square feet, with 980,000 square feet sold in the second quarter.
Signature Global Gurgaon primarily focuses on affordable and mid-housing segments in the National Capital Region. The company also reduced Rs 369.9 crore net debt in the first half from Rs 1,093.8 crore at the end of Financial Year 2023.
“We were able to significantly reduce our net debt as a result of funds raised through an initial public offering,” said chairman Pradeep Kumar Aggarwal. The company also raised Rs 730 fund in the form of IPO.
He noted that the increase in pre-sales and collections, as well as sales realisation of Rs 9,800 per square feet prove the company’s strong financial state.
How Signature Global Redefined Urban Living With Luxury And Innovation?
Signature Global is a prominent real estate developer known for its grand projects that redefine urban living. The Signature Global City, located in Sector 37D, stands as a proof to their commitment to creating spaces that exude luxury and renovation.
The Signature Global 37D project offers a blend of luxurious amenities that set a new standard in residential development. In addition to residential projects, Signature Global has also ventured into commercial developments with iconic projects like the Signature Global Mall in Vaishali.
Signature Global Mall Vaishali is a hub of entertainment, retail therapy, and culinary delights, offering a grand experience for visitors. Grand Iva Signature Global has left an unforgettable mark with Signature Global Andour Heights and Signature Global 63A.
Signature Global Andour Heights boasts modern design and thoughtful amenities, creating a comfortable and stylish living. On the other hand, Signature Global 63A is an example of developer’s commitment to excellence, offering a blend of luxury and elegance.
Signature Global Park is another jewel in the developer’s pinnacle, showcasing their dedication to creating green and sustainable living surroundings.
Source- ET
