Signature Global plans to invest approximately Rs 2,200 crore in the development of a new housing project in Gurugram, aiming to enhance its business and achieve over 20 percent growth in pre-sales for this fiscal year. Recently, the company introduced a premium residential project named ‘Cloverdale’, which consists of 770 apartments located on Southern Peripheral Road (SPR), Sector 71, Gurugram.
In the last fiscal year, Signature Global ranked as the fifth largest publicly listed real estate developer based on sales bookings, achieving record pre-sales of Rs 10,290 crore. The Gurugram-based firm has projected pre-sales worth Rs 12,500 crore for the current fiscal year. “We have initiated a new housing project in Gurugram. The demand for housing remains robust in this city, particularly for reputable builders,” stated Signature Global Chairman Pradeep Kumar Aggarwal .
The company is offering homes within a price range of Rs 4 crore to Rs 7 crore in this project, which spans 8 acres and is part of a larger 22-acre development. Completion of the project is anticipated by 2031. Last month, Aggarwal mentioned that the company intends to invest around Rs 4,000 crore this fiscal year to acquire land parcels and conduct construction activities for its housing projects in Gurugram.
In the previous fiscal year, Signature Global invested Rs 1,070 crore to acquire 48 acres of land in Gurugram, Haryana. “Land is a crucial raw material for real estate developers. We plan to invest approximately Rs 1,200-1,500 crore in acquiring land parcels,” he remarked. Aggarwal indicated that the investment in construction activities is expected to reach around Rs 2,500 crore in 2025-26, compared to Rs 1,900 crore in the prior fiscal year.
Last week, Signature Global revealed its intention to raise Rs 875 crore through the issuance of non-convertible debentures to refinance debt and facilitate business expansion. “We have obtained board approval to raise funds. We will also seek the approval of shareholders,” Aggarwal added. He noted that Rs 450 crore will be allocated to refinance existing debt, while the remaining funds will be directed towards business growth.
Aggarwal stated that the company aims to secure funding by the end of August, pending approval from shareholders. Signature Global, a prominent real estate developer in the nation, initially focused on creating affordable housing projects but has since redirected its efforts towards mid-income, premium, and luxury segments due to the high land costs in Gurugram.
The company reported a net profit of Rs 101.2 crore for the last fiscal year, a significant increase from Rs 16.32 crore in the previous year. Its total income rose to Rs 2,637.99 crore in the last fiscal year, up from Rs 1,324.55 crore in 2023-24.
Since its inception, Signature Global has completed 13.5 million square feet of housing projects and has a robust pipeline of approximately 21.6 million square feet of saleable area in forthcoming projects, in addition to 46.38 million square feet of ongoing projects, which are expected to be completed within the next 2-3 years.
