Saturday, July 13, 2024

Signature Global Q1-FY25 pre-sales grow 255% to INR 31.2 billion; collections rise 102% to INR 12.1 billion

Signature Global (BSE: 543990 | NSE: SIGNATURE), amongst the leading real estate development companies in India with a well-established brand in Delhi-NCR, achieved pre-sales of INR 31.2 billion in Q1 FY25 with year on year growth of 255%More than 30% of the FY25 guidance of INR 100 billionin pre-sales was achieved in Q1 FY25. The company has successfully entered the premium housing market and launched two group housing projects in Gurugram, both receiving an overwhelming response, during the last two quarters.

The Company’s collections in Q1 FY25 grew by 102% to INR 12.1 billion. Net debt reduced significantly by 16% to INR 9.8 billion at the end of Q1 FY25 in comparison to INR 11.6 billion as at the end of FY24.

Below are the operational highlights for the first quarter ended June 30, 2024.

ParticularsQ1FY25Q1FY24YoY (%)Q4FY24QoQ (%)FY24
Pre-Sales (INR Bn)31.28.8255%41.4(25%)72.7
No. of Units9688948%1,484(35%)4,619
Area sold (mln sq. ft)2.030.91123%2.98(32%)6.18
Collections (INR Bn)12.16.0102%10.120%31.1
Sales Realization (per sq. ft.)15,36911,762
Net Debt (INR Bn)9.8 –11.6

Commenting on the company’s performance, Mr. Pradeep Kumar Aggarwal, Chairman and Whole-Time Director, said”Signature Global continues to ride a high growth trajectory, showcasing robust pre-sales and collection figures for the third consecutive quarter. We ended the last fiscal year on an exceptional note, exceeding our guidance by a substantial margin in both pre-sales and collections. This fiscal year, we have set an ambitious target of achieving INR 100 billion in pre-sales. Remarkably, in the first quarter alone, we have already surpassed 30% of this target.

Our second successful launch in the premium segment stands as a testament to our capabilities and our dedication to delivering excellence. We are committed to ensuring that the trust of our valued customers remains steadfast, as we continue to innovate and expand our offerings. Our performance thus far underscores our strategic vision and the effectiveness of our growth initiatives, reinforcing our position in the industry.”

About Signature Global (India) Ltd:

Signature Global, a leading real estate development company in India, is reshaping the housing market in northern India. Initially established as a key player in affordable housing, the company is now broadening its scope by venturing into the mid-housing segment, with a strong emphasis on quality execution, value creation, reliability, and adherence to global standards. Founded in Gurugram in 2014 by seasoned professionals with extensive real estate experience, Signature Global commands a 36% market share in Gurugram’s affordable and mid-housing sector.

Supported by prominent investors like Nomura, HDFC, IFC, Standard Chartered, Bandhan MF, and Kotak, Signature Global upholds high standards of corporate governance. The company employs a disciplined land acquisition strategy, typically launching projects within 18 months of acquisition. The Company has so far delivered 10.4 million sq. ft. of housing area and boasts a robust pipeline of approximately 32.2 million sq. ft. of saleable area in our forthcoming projects along with 16.4 million sq. ft. of ongoing projects, set for execution over the next 2-3 years. In FY24, Signature Global achieved sales bookings of ₹72.7 billion and reported a sales CAGR of 62% from FY21 to FY24. The company projects sales of ₹100 billion in FY25 and ₹ 38 billion of revenue recognition.

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