Signature Global Achieves 59% of FY25 Sales Projections

9 Oct 2024 , 02:00 PM

With Rs 5,900 crore in H1FY25, the real estate developer Signature Global claimed its best-ever half-year pre-sales, representing a 217% year-over-year gain.

Pre-sales for Q2FY25 were Rs 2,780 crore, up 184% from Q2FY 24 despite the “Shradhh” period.

The company’s net debt at the end of H1 FY25 was Rs 1,020 crore, down from Rs 1,160 crore at the end of FY24. The company’s collections increased by 60% to Rs 2,130 crore.

Based on these pre-sales results, the company has already surpassed 59% of its FY25 sales target of Rs 10,000 crore. The successful launch of a major group housing project on SPR Road, Gurugram, and a mid-income housing project in Sohna, South Gurugram, were the main drivers of this outstanding pre-sales performance.

“We are thrilled about how our innovations are strengthening us. As we advance, we are certain that we will keep up this pace and expand on our collective accomplishments, declared Pradeep Kumar Aggarwal, the company’s chairman and full-time director who talked to ET.

Aggarwal stated to ET, “We will stay ahead of the curve with our focus on premium and mid-housing projects, strategic land acquisitions, and the introduction of new customer-centric initiatives.”

Signature Global, backed by major investors such as Nomura, HDFC, IFC, Standard Chartered, Bandhan MF, and Kotak, follows a methodical approach to land acquisition and usually initiates projects within 18 months of acquisition.

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