Is Signature Global’s Rs 2,500 crore investment in housing projects a game changer for the real estate market?

Realty Firm Signature Global to Invest Rs 2,500 Crore in Housing Projects This Fiscal Year

Signature Global, a leading real estate developer, will invest around Rs 2,500 crore this fiscal year on the construction of its various housing projects, according to Chairman Pradeep Kumar Aggarwal.

Aggarwal expressed confidence that the company will achieve its sales bookings target of Rs 10,000 crore for the 2024-25 financial year, a notable increase from Rs 7,270 crore in the previous year.

“We have accelerated construction work across all our projects. We will be investing around Rs 2,500 crore this financial year solely on construction activities,” Aggarwal stated at the Assocham real estate conference.

The company anticipates collecting Rs 6,000 crore from customers this fiscal year.

Additionally, Signature Global plans to utilize surplus internal cash flow to acquire land and reduce debt.

“We are scouting for land in the Noida and Delhi markets for new housing projects,” Aggarwal added, noting that the company intends to launch projects in these two cities during 2025-26.

On Sunday, Signature Global reported a 3.5-fold increase in sales bookings to Rs 3,120 crore for the April-June quarter, driven by high demand for its housing projects.

The company’s sales bookings were Rs 820 crore in the same period last year.

According to a regulatory filing, Signature Global sold 968 units in the first quarter of this fiscal year, compared to 894 units in the corresponding period of the previous year.

In terms of volume, sales bookings more than doubled to 2.03 million square feet from 0.91 million square feet a year earlier.

Signature Global continues to achieve strong growth, with robust pre-sales and collection figures for the third consecutive quarter.

Since its listing on the stock exchanges, Signature Global has delivered 10.4 million square feet of housing area.

The company has a strong pipeline of about 32.2 million square feet of saleable area in upcoming projects and 16.4 million square feet in ongoing projects.

Founded in 2014, Signature Global initially focused on affordable housing projects. The company has since expanded into mid-income, premium, and luxury housing segments.