Signature Global (BSE: 543990 | NSE: SIGNATURE), amongst the leading real estate development companies in India, aims to achieve pre-sales of INR 100 bln in FY25 on the back of robust demand from the residential segment in NCR.
The Company achieved its best ever annual pre-sales growth of 112% to INR 72.7 bln for FY24, due to successful launch of its first ever premium housing project in Q4. The Company is targeting collections of INR 60 bln in FY25 and in FY24 grew 62% to INR 31.1 bln.
The Company reported robust growth in the revenue and net profit for the fourth quarter ended March 31, 2024 on the back of strong pre-sales booking and higher realisations. For Q4FY24, the Company reported consolidated net profit of INR 410 mln as compared to INR 80 mln in the corresponding period of last year. For the full financial year, the consolidated net profit was INR 160 mln against loss of INR 637 mln in FY23.
Consolidated Revenue from Operations for the fourth quarter was INR 6,940 mln, as per occupancy certificate received. For the full year, revenue stood at INR 12,410 mln.
Commenting on the company’s performance, Pradeep Kumar Aggarwal, Chairman and Whole-Time Director, said " The financial year 2023-24 marked a significant period for our company, characterized by several achievements, including a successful IPO, expansion into the premium segment, and a notable transition to mid-income housing from affordable housing. The final quarter was particularly eventful, with our inaugural premium housing project receiving an overwhelmingly positive response. We've seen substantial growth in our presence in the National Capital Region (NCR), evidenced by our increasing market share in this region.
The latest quarterly figures underscore our company's steadfast dedication to quality and a customer-centric growth approach. As we move into FY25, our focus will be on risk mitigation and the creation of opportunities to ensure sustainable profitability and long-term value for all stakeholders.
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