November 21, 2024 |
Signature Global to Exceed FY25 Sales Bookings Target of Rs 10,000 Crore on Strong Demand: Chairman
Signature Global Ltd is poised to surpass its sales bookings target of Rs 10,000 crore. The realty firm has already achieved Rs 5,900 crore in the first half of the fiscal year. Strong housing demand in the Gurugram property market is driving the growth. The company plans to launch new projects in the second half of the fiscal year.
Realty firm Signature Global Ltd is likely to exceed its sales bookings target of Rs 10,000 crore on strong housing demand in Gurugram property market, its Chairman Pradeep Aggarwal said. In an interview with PTI, he highlighted that the company has achieved Rs 5,900 crore worth sales bookings in the first half of this fiscal.
“We had given a pre-sales (sales bookings) guidance of Rs 10,000 crore for the current fiscal. We were among few listed real estate developers to set such a big target,” Aggarwal said.
Considering the strong performance in the first six months, he said, “We are quite hopeful of over-achieving of our annual guidance.”
There is a strong launch pipeline for the second half of this fiscal, he said, adding the inventories in new as well as existing projects would help in achieving the taret comfortably.
Signature Global’s sale bookings jumped over three-time to Rs 5,900 crore in the April-September period of 2024-25 fiscal from Rs 1,860 crore in the corresponding period of the preceding year.
Signature Global, which has a significant presence in the Gurugram market, clocked sale bookings of Rs 7,270 crore in the 2023-24 fiscal.
Aggarwal said the company keep evaluating proposals to buy land in 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 Rs 4.15 crore for the quarter ended September.
The company had posted a net loss of Rs 19.92 crore in the year-ago period.
Total income rose to Rs 777.42 crore in the second quarter of this fiscal from Rs 121.16 crore in the corresponding period of the preceding year.
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.
source : ET
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