February 16, 2025 |
Signature Global To Focus On Mid-Income Housing Projects To Drive Growth, Says CEO
Real estate development company Signature Global will continue to focus on the mid-income segment to drive growth in the upcoming quarter. Speaking to NDTV Profit, the company’s Chief Executive Officer Rajat Kathuria said Signature Global has been witnessing strong demand for its mid-income projects.
“In FY25, our strategy was similar to earlier times, but very simple. If we create supply around mid-income housing products, it is seeing good offtake,” he said.
Signature Global recorded a multi-fold increase in its profit during the third quarter of the financial year ending March 2025 to Rs 29.13 crore in comparison to Rs 2.17 crore in the year-ago period. Total income jumped nearly three times to Rs 86.21 crore in the third quarter of the current fiscal against Rs 30.17 crore in the same period of the preceding fiscal.
“During this nine-month period, we launched multiple microprojects in and around Gurugram. Whether it is on the southern peripheral road, the Sohna Corridor, or the Mansesar side, we’ve launched a few projects, and all of them have seen good uptake in the market. That’s what’s led to us achieving close to Rs 9,000 crore in pre-sales,” he said.
Kathuria highlighted that the company registered pre-sales of over Rs 12,000 crore in the calendar year 2024 from the mid-income projects. The company has a significant presence in the affordable and mid-segment housing projects segment in the Delhi-NCR market.
“If you look at calendar year 2024, pre-sales numbers were close to Rs 12,800 crore. So, our strategy is simple. Focus on mid-income housing, keep coming up with new supply, and at the rightful price points to achieve growth,” he told NDTV Profit in an interview.
Despite the strong pre-sales collection, Signature Global plans to keep the guidance unchanged for the full year, Kathuria noted.
“We expect much better collections than what we’ve done in the previous quarters. We’ve kept guidance constant as of today because there is still room in this quarter for collections to happen and to improve. At the same time, in pre-sales we are confident of crossing the Rs 10,000-crore mark. However, we’ve also kept the guidance constant as of now,” he said.
Shares of Signature Global (India) Ltd. slipped nearly 3% on Wednesday to touch an intraday low of Rs 1,255.6 apiece on the NSE. The stock was seen trading 0.88% lower at Rs 1,279.45 apiece at 1:15 pm in comparison to the benchmark Nifty 50’s rise of 0.07% to 23,087.65 points.
Source : NDTV Profit
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