Delhi NCR-based listed real estate developer, Signature Global (India) Limited has acquired 8.39 acres of land along Dwarka Expressway for Rs 282.42 crore, the company said.
The sale deed of the land, which is located at Sector 37D in Gurugram, was executed on March 20. The overall developable potential of the acquired land would be approximately 2 million square feet, the company said in statement on March 21.
At 11:40 am, Signature Global (India) was quoting at Rs 1,151.85, up Rs 37.30, or 3.35 percent, on the BSE on March 21.
The company intends to launch a luxury housing project on this land parcel by the end of next financial year (2025-26) and it expects total revenue of around Rs 3,200 crore.
Pradeep Aggarwal, Founder and Chairman, Signature Global, said that Gurugram’s housing market has experienced exceptional growth in recent years, with Dwarka Expressway emerging as India’s fastest-growing real estate corridor.
“Strategically located between Delhi and Gurugram, Dwarka Expressway offers unparalleled access to key business hubs, the airport, and an expanding metro network. Among the standout locations, sector 37D has rapidly become a key investment hotspot. Given the success of our past projects, we are confident that our upcoming development in this sector will receive an overwhelming response upon launch,” he said.
According to a CREDAI-Colliers-Liases Foras report, housing prices here have surged by a record 58 percent YoY along this corridor. Seamless connectivity, robust infrastructure, and strong investment potential are some of the driving factors behind such a price growth along Dwarka Expressway.
Signature Global owns 45.1-acre land bank in Gurugram's Sector 37D, also known as DXP Estate, wherein the company is developing both multi-story and low-rise residential units.
In the first nine months of FY 2024-25, the company added approximately 2.9 million square feet of saleable area to this location. In September 2024, Signature Global had awarded a Rs 1,144 crore construction contract to Ahluwalia Contracts (India) Ltd. for its flagship residential project “De-luxe DXP” located along the Dwarka Expressway.
The company has so far delivered 13.5 million sq. ft. of housing area and has a robust pipeline of approximately 46 million sq. ft. in its forthcoming and ongoing projects, set for execution over the next 2-3 years.
In Q3FY25 the company achieved pre-sales of about Rs 2,770 crore and recognised Rs 830 crore revenue.
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