Signature Global Revenue to Surge 2.5x to Rs 3K Cr in FY25

New Delhi, Feb 23 (PTI) Real estate company Signature Global is expecting at least a 2.5 times jump in its operational revenue to more than Rs 3,000 crore in this fiscal on strong sales as well as completions of projects, its Chairman Pradeep Kumar Aggarwal said.

In an interview with PTI, he also exuded confidence that the company would easily surpass the pre-sales target of Rs 10,000 crore and launches of Rs 16,000 crore during the current fiscal year.

"The company's performance in the first three quarters of this fiscal has been very strong across all major parameters like sales bookings, launches, collection from customers and deliveries," Aggarwal said.

He said the company would end the financial year 2024-25 on a strong note.

Asked about the revenue growth, Aggarwal said, "We had given a guidance of Rs 3,800 crore worth of revenue recognition during the current fiscal year. Our operational revenue has already crossed Rs 1,900 crore in the first nine months of this financial year. We are hopeful of a healthy growth in the fourth quarter as well".

During the April-December period of this fiscal, Signature Global's operational revenue has jumped 3.6 times to Rs 1,977.58 crore from Rs 546.19 crore in the corresponding period of the preceding year.

In 2023-24, the company's operational revenue stood at Rs 1,240.55 crore.

Aggarwal said the company's operational revenue is likely to rise by 2.5 to 3 times during the 2024-25 fiscal.

On operational performance, he said the company, which has a significant presence in Gururam's residential market, has delivered 24.2 lakh square feet area during the first nine months of this fiscal from 20 lakh square feet in the year-ago period.

The collection of funds from customers has risen 54 per cent to Rs 3,210 crore in the first nine months of this fiscal from Rs 2,090 crore in the corresponding period of the preceding year.

Signature Global sold properties worth Rs 8,670 crore during April-December period of this fiscal, registering a sharp rise from Rs 3,120 crore in the year-ago period.

The company has set a target of achieving sales booking of ?10,000 crore in the current fiscal year as against Rs 7,270 crore in the preceding year.

Signature Global has so far delivered 120 lakh sq ft of housing area and has a robust pipeline of 350 lakh sq ft of saleable area in its forthcoming projects, along with 158 lakh sq ft of ongoing projects.

The company has been buying land to expand its business amidst strong demand.