Signature Global to Invest Rs 2,500 Crore in Housing Projects this Fiscal Year

Realty firm Signature Global will invest around Rs 2,500 crore this fiscal year in various housing projects. Chairman Pradeep Kumar Aggarwal expressed confidence in meeting the sales bookings guidance of Rs 10,000 crore for the financial year 2024-25. The company is also eyeing new land in Noida and Delhi for future projects.

Realty firm Signature Global has announced plans to invest approximately Rs 2,500 crore in constructing multiple housing projects during this fiscal year, Chairman Pradeep Kumar Aggarwal disclosed on Wednesday.

Aggarwal expressed optimism that the firm would achieve sales bookings of Rs 10,000 crore for the financial year 2024-25, a notable increase from the Rs 7,270 crore recorded last year.

“We have accelerated construction work across all our projects. We will be investing around Rs 2,500 crore on construction activities this fiscal,” 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 its surplus internal cash flow to acquire land and reduce debt.

“We are looking to acquire land in the Noida and Delhi markets for the development of housing projects,” Aggarwal said, noting that the company aims to launch projects in these new cities during 2025-26.

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

The first quarter saw the company selling 968 units, up from 894 units in the same period last year. Sales bookings, in terms of volume, more than doubled to 2.03 million square feet from 0.91 million square feet a year earlier.

Signature Global continues on a high growth trajectory, achieving strong pre-sales and collection figures for the third consecutive quarter. Since its listing, the company has delivered over 10.4 million square feet of housing area and has a robust pipeline of 32.2 million square feet of saleable area in upcoming projects and 16.4 million square feet in ongoing projects.