Signatureglobal Homes Acquires 14.65 Acres in Gurugram for New Residential Project
NEW DELHI: Signatureglobal Homes, a wholly-owned subsidiary of Signatureglobal (India), has executed a significant land purchase, acquiring 14.65 acres in Gadauli Kalan, Sector-37D, Gurugram. This strategic acquisition encompasses a developable area of approximately 2.7 million square feet, positioning the company for substantial growth in the region.
Future Plans and Vision
Pradeep Kumar Aggarwal, Chairman and Whole-Time Director of Signatureglobal (India), shared the company’s ambitious plans for this newly acquired land. “We aim to launch a residential project on this land in FY25-26,” said Aggarwal. This announcement underscores Signatureglobal’s commitment to expanding its footprint and catering to the housing needs of the growing population in Gurugram.
Impressive Sales Performance
In FY24, Signatureglobal Homes achieved remarkable sales milestones. The company sold over 4,600 units, with an average ticket size of Rs 16 million. This impressive performance translated into sales of Rs 72.7 billion, reflecting a growth of 112% compared to Rs 34.3 billion in FY23. This surge in sales highlights the robust demand for Signatureglobal’s residential projects and the company’s ability to meet market expectations.
Strong Financial Growth
The financial growth of Signatureglobal Homes is equally noteworthy. Collections in FY24 stood at Rs 31.1 billion, marking a 62% increase from Rs 19.2 billion in FY23. This substantial growth in collections is a testament to the company’s efficient operations and strong customer base.
Expansion and Development
During FY24, Signatureglobal Homes expanded its development portfolio by adding approximately 17 million square feet in Sector 71, located on the Southern Peripheral Road. This expansion is part of the company’s broader strategy to enhance its presence in key locations and offer premium housing solutions.
Ongoing Projects and Revenue Projections
Signatureglobal Homes has several ongoing projects scheduled for completion by FY26. The company estimates revenue recognition of about Rs 120 billion over the period from FY24 to FY26. This projection reflects the company’s confidence in its ongoing projects and its ability to deliver quality residential units to its customers.
In summary, Signatureglobal Homes’ acquisition of the 14.65-acre land in Gurugram and its impressive financial performance in FY24 underline its strategic growth plans and commitment to meeting the housing demands in the region. With a clear vision and robust financial health, the company is well-positioned for continued success in the coming years.
Read more: Brookfield India Real Estate Trust Seals 50% Stake Acquisition from Bharti
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