Real estate developer Signature Global targets ₹ 10,000 crore in pre-sales for FY25

Gurugram-based real estate developer Signature Global India is expected to be acquired. 10,000 crore of pre-sales in 2024-25 (April-March).

“Our overall annual target is 10,000 crore, which will come out of various projects, be it Sector 71 or Sohna Elevated Corridor or some other places. Since Sector 71, we will get steady supply in the coming few years, our overall target this year is to launch around 3.5 million sq ft in Sector 71,” company CEO Rajat Kathuria told CNBC-TV18.

The company expects net debt to be less than 0.5 times operating surplus by the end of FY25.

As of March 31, 2024, their net debt was approx. 1,150 crore despite investing huge funds in purchasing land.

The land in Sector 71, one of the prime locations in Central Noida, was also acquired in the last one year.

At the launch of the Titanium SPR project in Gurugram, Signature Global sold around 85% of the total units, contributing 2,700 crore of pre-sales in a short span of a week to ten days.

He said the company has 17 million square feet (MSF) of developable area, of which they have commissioned 2.1 MSF.

The sales trend has been steady over the past 4-5 years, with a compound annual growth rate (CAGR) of over 60%.

For the current year, the goal is to reach around 10,000 crore in pre-sales, with the project already contributing approx. 2,700 crores.

Also read: Realty firm Signature Global is seeing a 25-30 percent increase in pre-sales this year.

He said that titanium is the average recovery of the SPR project. 16,000 per sqft.

Buyers usually pay around the token. 10 lakh is about 9% of the total consideration on the next tranche allotment, and another 25% three months after the allotment. The remaining payments are tied to construction milestones.

A wholly owned subsidiary of the company has also recently executed a deed to purchase 3.8 acres of land on Gurugram, Dwarka Expressway. The area of ​​this land is six lakh square feet.

Also read: Signature Global buys 14.65 acres of land in Gurugram. 350 crores

Signature Global India's market capitalization is approx. 19,946.20 crores. Its shares have gained nearly 210 percent in the past year.

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