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With two new projects starting by the end of March and having a combined sales potential of Rs 8,500 crore, real estate developer Signature Global anticipates exceeding its pre-sale projection of Rs 4,500 crore this fiscal year, according to chairman and full-time director Pradeep Kumar Aggarwal.
According to Aggarwal, the Gurugram-based business has also signed three joint development agreements (JDAs) with a combined sales potential of over Rs 9,000 crore, which it intends to introduce over the next 12 to 18 months.
Signature Global To Develop Housing Project In Gurugram To Generate Rs 4500 Crore
Pre-sales for the firm in the first nine months of FY24 were Rs 3,100 crore. Signature Global intends to begin developments by the end of March after purchasing land parcels in Gurugram’s Sectors 71 and 37D.
Since we currently have a sizable presence in these three Gurgaon micro markets in Sector 71, Sector 37D, and Sohna, we plan to keep growing there. Thus far, our performance has been good and we have achieved profitability for the first time. The profitability will persist with the releases we have planned, according to Aggarwal.
To develop a residential project at Sector 71, Gurugram, spanning 21.38 acres with a potential developable area of 3.22 million sq. ft. Signature Global has signed three separate Joint Development Agreements.
Chairman Pradeep Kumar Aggarwal Reveals Blueprint For Signature Global Success
Over the last few quarters, we are seeing growing demand from the mid-housing and luxury segment, along with better realisations. We are focusing on enhancing the mid-housing segment’s sales trajectory as we start our post-listing journey since it will help us improve our blended Ebitda margins, according to Aggarwal.
Within the following 12 to 24 months, the business hopes to begin these initiatives. Within the inexpensive and mid-range housing sector, Signature Global holds a 19% market share.
Over 6 million square feet have been produced by Signature Global, which is supported by equity investors including HDFC and IFC. Additionally, it has projects in progress to build 17.21 million square feet and 21.29 million square feet of saleable space.
Signature Global Aims For Sales Surge With Focus On Mid-Income Projects
There are 60 projects in the portfolio as of right now, with roughly 28,000 units sold and about 21 projects in the works. Its unsold inventory totals 30 million square feet, of which 2.6 million are active projects with a gross development value (GDV) of Rs 2,300 crore and the remaining 27.4 million are upcoming projects with a GDV of Rs 30,000 crore.
According to Aggarwal, the business anticipates reaching an annual pre-sales milestone of Rs 10,000 crore in the next two to three years, owing to its strong pipeline.
According to him, the business anticipates posting a 26% compound annual growth rate (CAGR) in sales between FY23 and FY26, with embedded margins increasing to 20% as it places a greater emphasis on mid-income projects that offer higher margins.
Signature Global Eyes Rs 10,000 Crore Pre-Sales And 26% CAGR In Next 2-3 Years
The firm said last month that it had booked revenues of Rs 1,262.73 crore for the third quarter of this fiscal year, representing an annual rise of 47%. The company achieved sales bookings of Rs 856.77 crore in the previous year, and it got listed on stock exchanges in September 2023.
Compared to 1,089 units sold in the final quarter of the previous fiscal year, Signature Global sold 1,179 units from October to December of this financial year. Signature Global sold homes for Rs 3,124.12 crore between April and December of Financial Year 2023–24, a 41% increase from Rs 2,209.78 crore during the same time the previous year.
Signature Global’s Remarkable Q3 Revenues And Continued Sales Success
As compared to 3,113 units sold during the same period of the last year, the business sold 3,135 units in the first nine months of current financial year. Signature Global is among the top real estate developers in the Delhi-NCR area. It mostly concentrates on the low-cost and mid-income housing segments.
The Gurugram-based business had made its initial public offer last year to garner Rs 730 crore. With over 30 million square feet of upcoming projects and 17 million square feet of active projects, Signature Global has a sizable portfolio.
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