Realty firm Signature Global has reduced its net debt by 29 per cent in the October-December quarter to Rs 720 crore on strong pre-sales and collections from customers.
The net debt of Signature Global stood at Rs 1,020 crore at the end of the second quarter of this fiscal year.
In its latest operational update, Signature Global mentioned that the net debt has come down 38 per cent to Rs 720 crore as on December 31, 2024 from Rs 1,160 crore at the end of the 2023-24 financial year.
The company's collection of funds from customers has risen 54 per cent to Rs 3,210 crore in the first nine months of this fiscal from Rs 2,090 crore in the corresponding period of the preceding year.
Signature Global sold properties worth Rs 8,670 crore during April-December period of this fiscal, registering a sharp rise from Rs 3,120 crore in the year-ago period.
Average pre-sales realisation for April-December period of 2024-25 increased to Rs 12,565 per square feet compared to Rs 11,762 per square feet in the entire 2023-24.
Signature Global has set a target of achieving sales booking of Rs 10,000 crore in the current fiscal year as against Rs 7,270 crore in the preceding year.
Last month, Signature Global Chairman Pradeep Kumar Aggarwal expressed confidence that the company would be able to meet pre-sales target easily.
Signature Global has so far delivered 120 lakh sq ft of housing area and has a robust pipeline of 350 lakh sq ft of saleable area in its forthcoming projects, along with 158 lakh sq ft of ongoing projects.
The company has been buying land to expand its business amid strong demand.
Last month Signature Global bought a 16.12-acre land in Gurugram for nearly Rs 300 crore to develop a housing project, comprising 27-28 lakh square feet of developable area.
It is also looking to expand presence in Noida and Greater Noida markets of the Delhi-NCR region.
The company is also willing to takeover stalled housing projects and complete those.
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