Gurugram-based listed real estate developer Signature Global plans to invest around Rs 3,500 crore to develop 4 million square feet (msf) of residential space in the first and second quarters of the next financial year 2025-26, the company’s Chairman and Whole-Time Director Pradeep Aggarwal said in an interview with Moneycontrol.
Aggarwal said that he is expecting a revenue recognition of around Rs 7,000 crore to Rs 7,500 crore for FY26 and a 20-25 percent increase in pre-sales. Signature Global recorded pre-sales of Rs 12,810 crore in calendar year 2024 and a profit of Rs 40 crore in the first nine months of FY25.
Upcoming projects
He said the residential development will spread across two group housing projects having sales potential of around Rs 6,500 crore. These premium housing projects will be developed along Dwarka Expressway and Southern Peripheral Road (SPR) in Gurugram.
“Two project launches are planned for the first and second quarters of the next fiscal year. The first project, located in Sector 37D near the Delux DXP project, will encompass 2.5 msf of developable area within the 14-acre land parcel acquired last year. The second project, which will be the second phase of Titanium SPR, will be located in Sector 71 and offer 1.6-1.7 msf of developable area,” Aggarwal told Moneycontrol.
He said that the company is targeting a first-quarter launch for the Sector 71 project while the one along Dwarka Expressway in Sector 37D will be launched in Q2FY26.
Aggarwal said that units in the Dwarka Expressway project will be priced between Rs 3 crore and Rs 4 crore, while those in the Sector 71 project will range from Rs 2 crore to Rs 4 crore.
“These two projects are expected to generate revenue of Rs 6,000-6,500 crore. The total investment, including land and construction costs, among others, will be approximately Rs 3,500 crore,” he said.
The company will close a few land acquisitions in Sohna, Dwarka Expressway, and Southern Peripheral Road in Gurugram.
Delhi to be the next key market
Aggarwal said the company has a good operating surplus of Rs 1,200 crore in 9MFY25, which is expected to increase next year, boosting free cash flow. As a result, the company is open to more acquisitions in Gurugram and is also closely monitoring markets in Delhi and Noida.
He said that outer Delhi has vast land parcels measuring approximately 20,000 to 25,000 acres, with a predominantly mid-income population. Given this, Delhi holds immense potential and could become a significant segment for the company in the future.
“Now the ruling party is the same in all the three states – Haryana, Delhi and Uttar Pradesh. Good announcements can be seen on land pooling policy in the times to come as the same party would be ruling in Delhi and the Centre. So Delhi can be a big market for us provided there is clarity on land pooling policy,” he said.
Q3 performance
In Q3FY25 the company achieved pre-sales of about Rs 2,770 crore and recognised Rs 830 crore revenue. “Our pre-sales figures have gone up by around eight times since 2021. In 2021 the pre-sales figures were Rs 1,600 crore and this year we clocked pre-sales of Rs 12,800 crore. Next year also we are expecting 20-25 percent growth in pre-sales,” he said.
The company turned profitable with a net profit of Rs 40 crore in 9M FY25, compared to a loss of Rs 25 crore in 9M FY24. Signature Global’s Q3 FY25 profit after tax stood at Rs 29 crore.
Signature Global has delivered 13.5 msf of housing area and has a strong pipeline of approximately 21.6 msf of saleable area in the upcoming projects, along with 46.38 msf of ongoing projects, targeted for completion within the next 2-3 years.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
