Signature Global, amongst the leading real estate development companies in India, reported strong quarterly performance with net profit of INR 21.79 million. For the third quarter, the presales grew 47.38% to INR 12,627.34 million. A combination of strong realizations and pre-sales growth led the Company’s revenue from operations to surge by 53.86%, which led to the net profit of INR 21.79 million for Q3 FY24.
Commenting on the company’s performance, Pradeep Kumar Aggarwal, Chairman and Whole-Time Director, said "Buoyed by strong pre-sales numbers and growing housing demand, we have reported robust performance for the third quarter ended Dec 31, 2023. Over last few quarters, we are witnessing growing demand from the mid-housing segment along with better realisations. As we embark on a journey post listing, we are working on improving the sales trajectory in the mid-housing segment that would help us in bettering our blended EBITDA margins. We are witnessing a revived sentiment in the real estate market in Gurugram and other adjoining areas. This upcycle is expected to help the Company gain a sizeable market share in the area that we are focusing.”
Pre-sales for Q3 FY24 grew 47.38% to INR 12,627.34 million as against INR 8,567.79 million in Q3 FY23.Company reported 45.9% growth in Q3 FY24 collections at INR 7,690.52 million. Number of units rose 8.26% to 1,179 from 1,089 in Q3 FY23. Area sold jumped 19.09% to 1.31 million sq. ft in Q3 FY24 from 1.10 million sq. ft in Q3 FY23.
Pre-sales for 9M FY24 grew 41.38% to INR 31,241.29 million as against INR 22,097.89 million YoY. Collections surged 57.40% in 9M FY24 to INR 20,965.10 million as against INR 13,319.60 million YoY. Number of units were almost flat at 3,135 from 3,113 in 9M FY23. Area sold rose 8.84% to 3.20 million sq. ft in 9M FY24 from 2.94 million sq. ft in 9M FY23.
Revenue from operation increased to INR 2,818,.05 million in Q3FY24 from 1831.59 million in Q3FY23 primarily new Occupation Certificates (OC) of units. Profit/loss after tax (PAT): Company generates profit of INR 21.79 million in Q3FY24 as compared to losses in previous quarters.
Adjusted gross profit margin reduced to 27.31% in Q3FY24 as compared to 35.41% in Q3FY23.Adjusted EBITDA margin: Adjusted EBITDA margin reduced to 9.78% in Q3FY24 as compared to 11.23% in Q3FY23.
"Signature Global Park II," has received the prestigious "Best Residential Project in the Mid Segment" accolade.
Acquired 100% equity share capital of GCPL, which owns / will own prior to the completion of the acquisition, land parcels admeasuring ~ 25.14 acres, situated at Village Fazilpur Jharsa while company has currently acquired 19% out of 100%.
