Signature Global to Launch Rs 50,000 Cr Housing Projects

New Delhi, Nov 23 (PTI) Realty firm Signature Global Ltd plans to launch multiple housing projects worth Rs 50,000 crore in Delhi-NCR over the next three years as part of its expansion plan amid strong consumer demand.

Signature Global, listed on stock exchanges, is one of the leading real estate firms in the country. It sold properties worth Rs 7,200 crore last fiscal and is targeting to sell Rs 10,000 crore this fiscal.

In an interview with PTI, Signature Global Chairman Pradeep Aggarwal noted that housing demand continues to be strong in Gurugram, and the company would keep expanding its presence by launching more projects and acquiring new land parcels.

"We have a strong launch pipeline. We are targeting to launch projects worth Rs 50,000 crore over the next three years," he said.

The company has already acquired land in Gurugram and adjoining areas to launch multiple projects, Aggarwal noted.

"We gave guidance to launch Rs 16,000 crore worth of projects during the current fiscal year. We achieved Rs 9,000 crore launch in the first half of this fiscal and around Rs 5,000 crore worth of properties have been launched in the current quarter," Aggarwal said.

He said the launch guidance would be achieved easily.

On pre-sales guidance, Aggarwal said, "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".

He highlighted that the company has already achieved sales bookings worth Rs 5,900 crore in the first half of this fiscal.

Considering the strong performance in the first six months, he said, "We are quite hopeful of over-achieving of our annual guidance".

Signature Global's sale bookings jumped over three times to Rs 5,900 crore in the April-September period of 2024-25 from Rs 1,860 crore a year ago.

Signature Global, which has a significant presence in the Gurugram market, clocked sale bookings of Rs 7,270 crore in 2023-24.

Aggarwal said the company keeps evaluating proposals to buy land in the 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.

Its total income rose to Rs 777.42 crore in the second quarter of this fiscal from Rs 121.16 crore in the year-ago period.

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.