Signature Global share price fell more than 2 percent in the opening trade on January 13 after the company acquired 16.12 acres of land parcel in Gurugram, Haryana.
At 09:53am, SignatureGlobal India was quoting at Rs 1,224.10, down Rs 29.95, or 2.39 percent, on the BSE.
The company has executed a sale deed for acquiring a land parcel admeasuring approximately 16.12 acres situated at Sector 71, Southern Peripheral Road, Gurugram, Haryana.
The said land has an overall potential developable area of approximately 2.73 million square feet.
The company had executed a joint development agreement for development of this land parcel with the landowner, dated 2nd February, 2024, which stand cancelled on acquisition of this land.
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Earlier in this month, the company had reported its best-ever 9M FY25 pre-sales with Rs 86.7 billion, reflecting an impressive 178% growth year-on-year.
With these pre-sales’ performances, the company achieved 87 percent of its sales guidance of Rs 100 billion for FY25.
The company's 9M FY25 collections amounted to Rs 32.1 billion, a 54 percent increase against 9M FY24, while collections in Q3 FY25 recorded at Rs 10.8 billion, the best ever till now.
Its net debt reduced to Rs 7.2 billion in 9M FY25 in comparison to Rs 11.6 billion at the end of FY24.
In its report dated January 1, research house Motilal Oswal has reiterated its 'buy' rating with a target price of Rs 2,000/share, indicating a 50 percent upside potential.
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