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Signature Global (India) posts net profit of Rs 41.25 crore in Q4 FY24

 Signature Global (India) has reported net consolidated profit after tax of Rs 41.25 crore during the quarter ended March 31, 2024. Its PAT stood at Rs 7.64 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s net consolidated total income stood at Rs 722.73 crore in Q4 FY24, a growth of 1.81 per cent from Rs 709.86 crore it recorded in the similar quarter last year.Pradeep Kumar Aggarwal, chairman and whole time director of the company said, “The financial year 2023-24 marked a significant period for our company, characterized by several achievements, including a successful IPO, expansion into the premium segment, and a notable transition to mid-income housing from affordable housing. As we move into FY25, our focus will be on risk mitigation and the creation of opportunities to ensure sustainable profitability and long-term value for all stakeholders.”

The board, with a view to comply with the requirement of minimum paid up capital of Rs 85 crore of Gurugram Commercity (GCPL), a wholly-owned subsidiary, as stipulated by the Directorate of Town & Country Planning, Haryana, has approved the investment of Rs. 34.74 crore in the 3,47,49,900 equity shares of Rs 10 each of GCPL for cash at par.

The company aims to achieve pre-sales of Rs 100 billion and collections of Rs 60 billion in FY25. It registered pre-sales growth of 112% to Rs 72.7 billion for FY24 while collections grew 62% to Rs 31.1 billion.

Currently, the company has a portfolio of 48.6 million sq ft with 16.4 million sq ft ongoing and 29.3 million sq ft forthcoming. It aims to keep the net debt below 0.5x the projected operating surplus.

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