Signature Global Faces Sales Slowdown in Gurugram's Luxury Housing Market

Realty firm Signature Global predicts it won't meet its fiscal target of Rs 12,700 crore due to slow demand in Gurugram's luxury housing market. Despite a 27% sales decline, the company aims to match last year's Rs 10,290 crore sales. The market softening post-COVID has impacted their performance.

Signature Global, a prominent realty firm, announced it would miss its projected sales target of Rs 12,700 crore for the current fiscal year, citing decreased demand in Gurugram's luxury housing market.

The company, which reported a 27% decline in sales bookings to Rs 2,020 crore in the last quarter, expressed commitment to matching the previous year's sales achievement of Rs 10,290 crore.

Despite the ambitious start of the fiscal year, which saw them aiming for Rs 12,700 crore in sales by FY26, the ongoing market softening post-COVID has significantly impacted their performance. The firm's share price has also been affected, dropping by 6.47% on Monday.

(With inputs from agencies.)