Signature Global: Sales Target Miss on Housing Demand

New Delhi, Jan 12 (PTI) Realty firm Signature Global has said the company would not be able to meet its sales bookings target of Rs 12,700 crore for the current fiscal year amid demand slowdown in the Gurugram luxury housing market.

However, the company said it would make efforts to reach the sales bookings of Rs 10,290 crore achieved during the last fiscal year.

Signature Global on Sunday reported a 27 per cent decline in sales bookings to Rs 2,020 crore for the quarter ended December from Rs 2,770 crore in the year-ago period.

During the first nine months of this fiscal year, Signature Global sales bookings fell 23 per cent to Rs 6,680 crore from Rs 8,670 crore a year ago.

"The overall market environment has turned softer and that has impacted us. Admittedly, we will not be able to meet our pre-sales guidance of Rs 12,700 crore, which looked comfortable a few months back. However, we will attempt to maintain sales at the same levels as last year," Signature Global said in a regulatory filing on Sunday.


Signature Global achieved sales bookings of Rs 10,290 crore last fiscal year, becoming the fifth-largest listed real estate developer in terms of sales. At the start of this fiscal year, the company gave guidance of clocking sales bookings worth Rs 12,700 crore for FY26.

On Monday, the company's share price fell 6.47 per cent to Rs 943.65 apiece on the BSE.

As per the latest operational update, the company sold 408 units during the October-December period of this fiscal year, compared to 1,518 units in the year-ago period.

During the first nine months of this fiscal year, it sold 1,746 units compared to 3,539 units in the year-ago period.

Signature Global has all residential projects in the Gurugram market, which is, of late, witnessing a sluggish demand due to sharp jump in prices post-Covid pandemic.

Till September last year, the company delivered 16 million sq ft of real estate.