July 7, 2024 |
Signature Global Q1-fy25 Sales Bookings Grow 255% to ₹3120 Crore; Collections Rise 102% to ₹1210 Crore
Signature Global said in a regulatory filing that more than 30% of the FY25 guidance of ₹10,000 crore in pre-sales was achieved in Q1 FY25.
Signature Global, a Delhi-NCR based real estate company, has achieved sales bookings of ₹3120 crore in Q1 FY25 with year-on-year growth of 255% on the back of high demand for residential projects. The company’s sales bookings stood at ₹880 crore in the year-ago period, the company said in a regulatory filing.
More than 30% of the FY25 guidance of ₹10,000 crore in pre-sales was achieved in Q1 FY25. According to a regulatory filing, Signature Global sold 968 units in the first quarter of this fiscal against 894 units in the corresponding period of the previous year.
The company has entered the premium housing market and launched two group housing projects in Gurugram, both receiving an overwhelming response, during the last two quarters.
The company’s collections in Q1 FY25 grew by 102% to ₹1210 crore. Net debt reduced significantly by 16% to ₹980 crore at the end of Q1 FY25 in comparison to ₹1160 crore as at the end of FY24.
“Signature Global continues to ride a high growth trajectory, showcasing robust pre-sales and collection figures for the third consecutive quarter. We ended the last fiscal year on an exceptional note, exceeding our guidance by a substantial margin in both pre-sales and collections. This fiscal year, we have set an ambitious target of achieving ₹10,000 crore in pre-sales. Remarkably, in the first quarter alone, we have already surpassed 30% of this target,” said Pradeep Kumar Aggarwal, Chairman and Whole-Time Director, Signature Global.
Founded in Gurugram in 2014, Signature Global commands a 36% market share in Gurugram’s affordable and mid-housing sector. It is supported by investors like Nomura, HDFC, IFC, Standard Chartered, Bandhan MF, and Kotak, Signature Global upholds high standards of corporate governance.
The company has so far delivered 10.4 million sq. ft. of housing area and boasts a robust pipeline of approximately 32.2 million sq. ft. of saleable area in our forthcoming projects along with 16.4 million sq. ft. of ongoing projects, set for execution over the next 2-3 years.
Last month the company said that it had sold premium apartments worth over ₹2,700 crore in its newly launched housing project in Gurugram, reflecting strong demand despite a significant rise in prices during the last two years.
In a regulatory filing, Signature Global informed last month that it has launched a premium residential project named ‘Titanium SPR‘ in Sector 71, Gurugram. The company said the project has achieved an overwhelming response with expressions of interest of more than twice the number of apartments to be sold.
Source : HT
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