Signature Global posts Rs 2.17 crore net profit in December quarter; income rises to Rs 301 crore

Signature Global reported a consolidated net profit of Rs 2.17 crore in the December quarter, driven by increasing income. In the previous year, the company reported a net loss of Rs 44.89 crore.

Realty firm Signature Global has posted a consolidated net profit of Rs 2.17 crore in the quarter ended December on higher income.

The company had posted a net loss of Rs 44.89 crore in the year-ago period.

Total income rose to Rs 301.75 crore in the third quarter of this fiscal from Rs 191.78 crore in the corresponding period of the previous year, according to a regulatory filing on Friday.

Signature Global Chairman Pradeep Kumar Aggarwal said the company has achieved robust performance in the third quarter on account of surge in housing demand, which has helped the company report strong sale bookings.

During April-December period of 2023-24 fiscal, Signature Global net loss has narrowed to Rs 24.93 crore from a net loss of Rs 71.36 crore in the year-ago period.

Signature Global had posted a net loss of Rs 56.75 crore on a total income of 1,585.87 crore in the 2022-23 financial year.

Last month, the company had informed that it achieved sale bookings of Rs 1,262.73 crore during the third quarter of this fiscal, registering a 47 per cent

The company, which got listed in September 2023 on stock exchanges, had achieved sale bookings of Rs 856.77 crore in the year-ago period.

Signature Global sold 1,179 units during the October-December period of this fiscal as against 1,089 units in the same period of the previous financial year.

During April-December period of 2023-24 fiscal, Signature Global sold properties worth Rs 3,124.12 crore, up 41 per cent from Rs 2,209.78 crore in the year-ago period.

The company sold 3,135 units in the first nine months of this fiscal as against 3,113 units in the year-ago period.

Signature Global is one of the leading real estate developers in the Delhi-NCR region. It mainly focuses on mid-income and affordable housing segments.

The Gurugram-based company launched its maiden public offer last year to raise Rs 730 crore.