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Signature Global amongst the leading real estate development companies in India with a well-established brand in Delhi-NCR focusing on affordable and mid housing segments, announced its un-audited financial results for the first quarter ended on June 30th, 2023 (Q1FY24) and the KPI numbers for Q1FY24 and H1FY24. The information mentioned in this release is based on consolidated financial statements.
Commenting on the company’s performance, Pradeep Kumar Aggarwal, Chairman and Whole-Time Director, said "It is truly a pleasure to present our Q1FY24 performance for the first time since our listing. I want to extend my heartfelt gratitude to our shareholders for their unwavering support and trust in our vision. We are delighted to share that we have been able to reduce our net debt significantly in the second quarter following funds raised through initial public offer (IPO). The first half (H1FY24) has been truly remarkable in terms of our operational performance with our pre-sales growing 37% and sales realization reaching INR 9,800 per sq. ft. This is likely to reflect positively in the financial performance of second quarter. The collections too for the company have grown nearly 65% in H1FY24 showcasing significantly robust financial position of the Company.
Signature Global, amongst the leading real estate development companies in India is transforming the affordable and mid-housing segments through its focus on quality execution with an emphasis on value creation, reliability, and global standards. The company holds a market share of 19% in Delhi NCR in affordable and Mid-housing segment. The firm started its journey in Gurugram in 2014 and was founded by seasoned professionals with multiple decades of experience in the financial services sector.
Backed by marquee equity investors like HDFC and IFC, Signature Global practices high corporate governance within the organization. It has currently delivered over 6 million square feet and has ongoing projects in 17.21 million square feet area along with a robust forthcoming pipeline of 21.29 million square feet of saleable area. The total portfolio currently comprises 60 projects, with nearly 28,000 units sold and about 21 forthcoming projects.
Signature Global has been following a disciplined approach to land acquisition, with a lead-time from land acquisition to project launch of close to 18 months. All the projects are perfectly positioned in key locations in Delhi NCR and micro markets such as South of Gurugram (Sohna), Golf course extension road, Dwarka Expressway, Vaishali (Ghaziabad), and Karnal.
