NEW DELHI, Dec 1: Realty firm Signature Global is targeting to deliver 16 million square feet area to its customers by March 2026, helping the company recognise around Rs 10,000 crore revenue in the books of accounts.
Signature Global is one of the leading real estate companies in the country. It has a significant presence in Gurugram.
In an interview with PTI, Signature Global Chairman Pradeep Aggarwal said the company had given a guidance of Rs 3,800 crore worth revenue recognition in the current fiscal year.
Out of this, he said the company has already booked revenue worth Rs 1,200 crore in the first half of this fiscal. He exuded confidence that the Rs 3,800 crore guidance would be easily achieved.
“We are targeting to deliver around 16 million square feet area to customers by end of the next 2025-26 fiscal,” he said, adding the company is investing a lot on construction activities.
These 16 million square feet area covers 25 real estate projects, mostly housing.
Aggarwal said the completion of this area would help the company recognise around Rs 10,000 crore worth revenue in the financial statement.
Out of this, he said the Rs 3,800 crore would be recognised this fiscal and the remaining in the next financial year.
Aggarwal said the company is focusing both on launch of new projects as well as the completion of the ongoing projects.
It also keeps evaluating proposals to acquire land parcels in Delhi-NCR on outright basis and also joint development agreements.
Outlining the business plan, Aggarwal said the company will launch multiple housing projects worth Rs 50,000 crore in Delhi-NCR over the next three years as part of its expansion plan amid strong consumer demand.
Signature Global, which is listed on stock exchanges, sold Rs 7,270 crore worth properties last fiscal and is targeting to sell Rs 10,000 crore this fiscal.
Aggarwal noted that housing demand continues to be strong in Gurugram and the company would keep expanding its presence by launching more projects and acquiring new land parcels.
“We have a strong launch pipeline. We are targeting to launch projects worth Rs 50,000 crore over the next three years,” he said.
The company already has land parcels in Gurugram and adjoining areas to launch projects.
“We gave guidance to launch Rs 16,000 crore worth projects during the current fiscal year. We achieved Rs 9,000 crore launch in the first half of this fiscal and around Rs 5,000 crore worth properties have been launched in the current quarter,” Aggarwal said.
He said the launch guidance would be achieved easily.
On pre-sales guidance, Aggarwal said, “We had given a pre-sales (sales bookings) guidance of Rs 10,000 crore for the current fiscal.”
He highlighted that the company has already achieved Rs 5,900 crore worth sales bookings in the first half of this fiscal.
Considering the strong performance in the first six months, he said, “We are quite hopeful of over-achieving of our annual guidance.”
Signature Global’s sale bookings jumped over three-time to Rs 5,900 crore in the April-September period of 2024-25 fiscal from Rs 1,860 crore in the corresponding period of the preceding year.
Last month, the company reported a consolidated net profit of Rs 4.15 crore for the quarter ended September.
The company had posted a net loss of Rs 19.92 crore in the year-ago period.
Total income rose to Rs 777.42 crore in the second quarter of this fiscal from Rs 121.16 crore in the corresponding period of the preceding year.
Signature Global has so far delivered 11 million square feet of housing area. It has a pipeline of about 32.2 million square feet of saleable area in forthcoming projects along with 16.4 million square feet of ongoing projects. (PTI)
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