Signature Global's sales bookings more than doubled to Rs 7,268 crore in 2023-24 from Rs 3,430 crore in the preceding year. (Representational image)

Signature International’s gross sales bookings greater than doubled to Rs 7,268 crore in 2023-24 from Rs 3,430 crore within the previous 12 months. (Representational picture)

Signature International plans to develop a residential mission comprising 27 lakh sq. ft space

Realty agency Signature International has purchased 14.65 acres of land in Gurugram for round Rs 350 crore to develop a housing mission as a part of its enlargement plan. In an announcement, the corporate mentioned it has acquired 14.65 acres of land in Sector 37D close to Dwarka Expressway, Gurugram.

Nevertheless, it didn’t disclose the deal worth and the identify of the vendor. Sources mentioned the deal worth may very well be round Rs 350 crore.

Signature International plans to develop a residential mission comprising 27 lakh sq. ft space. Pradeep Kumar Aggarwal, Chairman of Signature International, mentioned, “Dwarka Expressway has swiftly turn into a premier vacation spot for homebuyers looking for luxurious residences. Lately, quite a few high-end residential tasks have been launched on this space, with many extra anticipated within the close to future.” He expects the demand for residential housing on this area to stay robust.

“We intention to launch a residential mission on this land in 2025-26, reinforcing our presence within the luxurious housing market,” Aggarwal mentioned. Signature International Ltd has set a goal to promote Rs 10,000 crore value housing properties in 2024-25, up 38 per cent from the final fiscal.

The corporate’s gross sales bookings greater than doubled to Rs 7,268 crore in 2023-24 from Rs 3,430 crore within the previous 12 months. The corporate, which is principally creating tasks at Gurugram in Haryana, offered 4,619 items final fiscal as in opposition to 4,512 items in 2022-23.

By way of space, Signature International offered 6.18 million sq. ft in 2023-24, up from 4.35 million sq. ft within the previous 12 months. Gross sales realization for the 2023-24 averaged Rs 11,762 per sq. ft in comparison with Rs 7,886 per sq. ft within the earlier fiscal. “The monetary 12 months 2023-24 marked a big interval for our firm, characterised by a number of achievements, together with a profitable IPO, enlargement into the premium section, and a notable transition to mid-income housing from inexpensive housing,” Aggarwal mentioned.

Signature International reported a greater than five-fold leap in its consolidated web revenue to Rs 41.21 crore for the quarter ended March, pushed by increased revenue. Its web revenue stood at Rs 7.60 crore within the year-ago interval.

Complete revenue elevated to Rs 722.73 crore within the fourth quarter of final fiscal 12 months from Rs 709.86 crore within the corresponding interval of the previous 12 months, in response to a regulatory submitting. Throughout the complete 2023-24 fiscal, the corporate posted a web revenue of Rs 16.18 crore as in opposition to a web lack of 63.86 crore within the previous 12 months.

Nevertheless, whole revenue decreased to Rs 1,324.55 crore within the final fiscal from Rs 1,585.87 crore within the 2022-23 fiscal. Signature International is likely one of the main actual property corporations within the Delhi-NCR area.

It presently has a portfolio of 48.6 million sq. ft with 16.4 million sq. ft ongoing and 29.3 million sq. ft forthcoming. In September final 12 months, Signature International efficiently launched its IPO (preliminary public providing) to lift Rs 730 crore.

The general public challenge, comprising a recent challenge of shares value Rs 603 crore and an Provide for Sale (OFS) of Rs 127 crore, was subscribed 11.88 instances.

(This story has not been edited by News18 workers and is printed from a syndicated information company feed – PTI)

LEAVE A REPLY

Please enter your comment!
Please enter your name here