Real estate developer Signature Global to deliver 17 million sqft by FY26 in Gurugram, says top exec

Signature Global to deviler 17 million sqft projects with revenue potential of 11,000 crore in Gurugram and Sohna by FY26

Listed real estate developer Signature Global will complete and deliver over 17 million square feet of space in its 28 different projects across Gurugram and Sohna regions by the financial year 2025-26 with a revenue potential of Rs 11,000 crore,  a top company executive told Moneycontrol.

These will be all mid-segment and affordable category units, which were launched in 2021-22.

Pradeep Aggarwal, Chairman and Whole-Time Director, Signature Global, said that these are the projects that already under-construction in Gurugram and sub-urban areas like Sohna.

Also Read: Signature Global sells over 1,000 luxury apartments in Gurugram for Rs 3,600 crore

“We hope to complete and deliver these projects having 17 million sqft by FY 2025-26. These projects have revenue recognition of Rs 11,000 crore. We will start delivering these projects from 2025. These projects are a mix of mid-segment and affordable category in a ratio of 70:30 respectively,” Aggarwal told Moneycontrol.

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Ashish Mishra

Prinicipal Correspondent|moneycontrol

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The affordable category flats in Signature Global start from Rs 25 lakh-Rs 30 lakh while the mid income segment apartments start from Rs 1 crore, he said.

According to the data given by Signature Global, there are 28 projects that are to be delivered by 2026 of which 23 are housing projects and five are commercial and retail projects. Out of 23 housing projects, eight projects fall under mid-income category in Gurugram, 6 mid-income projects in Sohna and nine affordable segment projects.

Also Read: Signature Global to develop 21 msf of affordable, mid-income housing in 6-7 years

The total development includes 218.5 acres of land in Gurugram and Sohna. The tentative investment in these projects is around Rs 7,500- Rs 8,000 crore.

Besides, the Signature Global also plans to launch new projects having 10 million sqft saleable space with a top line of Rs 10,000 to 12000 crore in the next fiscal.

Aggarwal said that the company has a land bank of around 31 million sqft, out of which around 10 million sqft would be launched in the next fiscal year.

“The new launches will comprise three projects and these will come up in Gurugram sectors 71, 84 and Sohna region of the district. These will be premium projects with a ticket size starting from around Rs 3 crore,” he said.

Aggarwal said that the investment in these projects will be around Rs 6,500 crore including the land cost and expected top line is around Rs 12,000 crore.

In September 2023, Signature Global successfully launched its maiden public offer to raise Rs 730 crore. The public issue, comprising a fresh issue of shares worth Rs 603 crore and an Offer for Sale (OFS) of Rs 127 crore, was subscribed 11.88 times.

Till December 2023, Signature Global has delivered 6.7 million square feet area. It is developing 16.9 million square feet area and also has a future pipeline of 28.4 million square feet of saleable area.

The realty firm 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.