According to a top corporate official of listed real estate developer Signature Global would finish and deliver over 17 million square feet of space in its 28 distinct projects throughout the Gurugram and Sohna districts by the financial year 2025–2026 with a potential income of Rs 11,000 crore.
All of them will be mid-segment, reasonably priced units that were introduced in 2021–2022. According to Signature Global Chairman and Whole-Time Director Pradeep Aggarwal, these are the projects that are currently being built in Gurugram and nearby suburbs like Sohna.
Signature Global Plans To Deliver Rs. 11,000 Crore Projects By 2025
By FY 2025–2026, we plan to deliver and finish these 17 million square foot projects. The revenue recognition for these projects is Rs 11,000 crore. These projects will be delivered by us beginning in 2025. These initiatives combine inexpensive and mid-segment offerings in a 70:30 ratios, according to Aggarwal.
According to him, the mid-income sector apartments at Signature Global start at Rs 1 crore, while the budget category flats start at Rs 25–30 lakhs.
Based on information provided by Signature Global, there are 28 projects scheduled for completion by 2026, of which 23 are residential and 5 are commercial and retail.
Signature Global Focusing On The Mid Segment Homes In Gurgaon
Of the twenty-three housing developments, eight are in the Gurugram mid-income category, six are in the Sohna mid-income category, and nine are in the inexpensive section.
In all, 218.5 acres of land in Sohna and Gurugram are being developed. These projects would likely require an expenditure of between Rs 7,500 and Rs 8,000 crore.
In addition, Signature Global intends to start new projects in the upcoming fiscal year that will have 10 million square feet of saleable space and a top line of between Rs 10,000 and Rs 12000 crore.
Signature Global Has 31 Million Square Feet Of Land Bank In Gurugram
According to Aggarwal, the business has around 31 million square feet of land bank, of which about 10 million will be developed in the upcoming fiscal year.
“The next releases will consist of three projects, situated in the districts of Sohna, 71, and 84 in Gurugram. These would be high-end undertakings, with ticket prices beginning at about Rs 3 crore, he stated.
According to Aggarwal, the projected top line for these projects is likely to be approximately Rs 12,000 crore, with an investment of about Rs 6,500 crore including the cost of the land.
Signature Global Has Supplied 6.7 Million Square Feet In 2023
Signature Global successfully conducted its first public offering in September 2023 with the goal of raising Rs 730 crore. The public offering, which included an Offer for Sale (OFS) for Rs 127 crore and a new issuance of shares valued at Rs 603 crore, received 11.88 subscriptions.
Signature Global has supplied 6.7 million square feet of space as of December 2023. In addition to the 16.9 million square feet of space that is now creating, there are an additional 28.4 million square feet of saleable space in the pipeline.
Due to increased revenue, the real estate company reported a combined net profit of Rs 2.17 crore for the quarter that ended in December. In the same time last year, the business reported a net loss of Rs 44.89 crore.
Source- ET
