Realty firm Signature Global Ltd plans to launch multiple housing projects worth ₹50,000 crore in Delhi-NCR over the next three years as part of its expansion plan amid strong consumer demand.Signature Global, listed on stock exchanges, is one of the leading real estate firms in the country.
It sold properties worth ₹7,200 crore last fiscal and is targeting to sell ₹10,000 crore this fiscal.In an interview with PTI, Signature Global Chairman Pradeep Aggarwal noted that housing demand continues to be strong in Gurugram, and the company would keep expanding its presence by launching more projects and acquiring new land parcels. “We have a strong launch pipeline. We are targeting to launch projects worth ₹50,000 crore over the next three years,” he said. Chennai’s Casagrand sending star employees on dream ‘all-paid’ Barcelona trip .
Aggarwal noted that the company has already acquired land in Gurugram and adjoining areas to launch multiple projects. “We gave guidance to launch ₹16,000 crore worth of projects during the current fiscal year.We achieved ₹9,000 crore launch in the first half of this fiscal and around ₹5,000 crore worth of properties have been launched in the current quarter,” Aggarwal said. He said the launch guidance would be achieved easily. On pre-sales guidance, Aggarwal said, “We had given a pre-sales (sales bookings) guidance of ₹10,000 crore for the current fiscal. We were among few listed real estate developers to set such a big target”.
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He highlighted that the company has already achieved sales bookings worth ₹5,900 crore in the first half of this fiscal. Considering the strong performance in the first six months, he said, “We are quite hopeful of over-achieving of our annual guidance”.
Festive season set to boost real estate sales; Developers say a rate cut would pump demand Signature Global’s sale bookings jumped over three times to ₹5,900 crore in the April-September period of 2024-25 from ₹1,860 crore a year ago. Signature Global, which has a significant presence in the Gurugram market, clocked sale bookings of ₹7,270 crore in 2023-24. Aggarwal said the company keeps evaluating proposals to buy land in the Gurugram market and is also exploring to enter Noida, Greater Noida and Yamuna Expressway property markets. Earlier this month, the company reported a consolidated net profit of ₹4.15 crore for the quarter ended September.
The company had posted a net loss of ₹19.92 crore in the year-ago period. Its total income rose to ₹777.42 crore in the second quarter of this fiscal from ₹121.16 crore in the year-ago period.Signature Global has so far delivered 11 million square feet of housing area. It has a pipeline of about 32.2 million square feet of saleable area in forthcoming projects, along with 16.4 million square feet of ongoing projects. Godrej Properties buys 53-acre land parcel in Kolkata with revenue potential of ₹500 crore
