Signature Global has successfully reduced its net debt by 29% in the October-December quarter, bringing it down to Rs 720 crore, driven by strong pre-sales and increased customer collections. This marks a significant improvement from Rs 1,020 crore at the end of the previous quarter.
According to the company’s latest operational update, net debt has decreased 38% from Rs 1,160 crore as of March 31, 2024, showcasing Signature Global’s improved financial position.
The company’s customer collections rose by 54%, reaching Rs 3,210 crore in the first nine months of the fiscal year, compared to Rs 2,090 crore in the corresponding period last year. Additionally, Signature Global reported a significant increase in property sales, with a total Rs 8,670 crore worth of properties sold between April and December 2024, a sharp rise from Rs 3,120 crore during the same period in the previous year.
The average pre-sales realization for April-December 2024-25 increased to Rs 12,565 per square foot, up from Rs 11,762 per square foot in the entire 2023-24 fiscal year. The company has set a sales booking target of Rs 10,000 crore for FY 2024-25, compared to Rs 7,270 crore in the previous year.
Last month, Signature Global Chairman Pradeep Kumar Aggarwal expressed confidence that the company would achieve its pre-sales target with ease.
Expansion and Growth Strategy
Signature Global has already delivered 120 lakh sq ft of housing space and has a robust pipeline of 350 lakh sq ft of saleable area in upcoming projects, in addition to 158 lakh sq ft of ongoing developments. The company continues to acquire land for business expansion to meet growing demand.
As part of its expansion, Signature Global recently acquired a 16.12-acre land parcel in Gurugram for nearly Rs 300 crore, where it plans to develop a housing project spanning 27-28 lakh square feet. Additionally, the company is exploring opportunities to expand its presence in the Noida and Greater Noida real estate markets.
Beyond new developments, Signature Global is also open to taking over stalled housing projects and completing them, further strengthening its foothold in the Delhi-NCR region.
