Signature Global Acquires 14.65 Acres in Gurugram for ₹350 Cr

Listen to our Podcast: Grow your wealth and keep it secure.

0:00 / 0:00

Synopsis:

Signature Global acquires 14.65 acres in Gurugram for ₹350 Cr, and plans a 27 lakh sq ft luxury residential project. Targets ₹10,000 Cr sales in 2024-25, with a 38% increase. It achieved ₹7,268 Cr in sales last year, with a 5x jump in net profit.

Signature Global News Today

Signature Global, a leading real estate firm, has acquired 14.65 acres of land in Gurugram's Sector 37D near Dwarka Expressway for approximately ₹350 crore. This acquisition aligns with the company's expansion strategy for developing a housing project in the area.

ExploreSignatureglobal India Ltd Share Price

Development Plans

The purchased land is intended for the development of a residential project spanning 27 lakh square feet, tapping into the demand for luxury residences in Gurugram. The company aims to launch this project by 2025-26, solidifying its presence in the luxury housing segment.

Financial Performance

In the fiscal year 2023-24, Signature Global witnessed substantial growth in its sales bookings, surpassing ₹7,268 crore, marking a significant increase from ₹3,430 crore in the previous year. The company sold 4,619 units, reflecting a steady sales volume.

Additional Read:  Share Market News

Profit Surge

The company reported a remarkable five-fold surge in its consolidated net profit, reaching ₹41.21 crore for the quarter ended March, attributed to increased income. Total income for the fiscal year amounted to ₹722.73 crore, showcasing a healthy financial performance.

IPO Success

Signature Global's success extends to its IPO launched in September last year, which raised ₹730 crore. The public issue, oversubscribed by 11.88 times, reflects investor confidence in the company's growth prospects and strategic initiatives.

Future Outlook

With a portfolio of 48.6 million square feet, including ongoing and forthcoming projects, Signature Global is poised for continued expansion and market dominance in the Delhi-NCR region. The company remains committed to delivering value to its stakeholders while meeting the evolving needs of homebuyers.

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

For All Disclaimers Click Here: https://bit.ly/3Tcsfuc

Share this article: 

Read More Blogs

Our Secure Trading Platforms

Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading

Bajaj Broking App Download

7.5 Lacs+ Users

icon-with-text

4.3+ App Rating

icon-with-text

4 Languages

icon-with-text

₹4300 Cr MTF Book

icon-with-text