April 8, 2024: Real estate developer Signature Global achieved its best ever quarterly and annual pre-sales performance of Rs 41.4 billion and Rs 72.7 billion respectively with YoY growth rates of 240% for the fourth quarter (Q4 FY24) and 112% for the full year (FY24). The company has exceeded its guidance of Rs 45 billion in FY24, due to a successful launch of its first premium housing project.
The company’s collections in FY24 grew 62% to Rs 31.1 billion, exceeding its annual guidance of Rs 29 billion. Major contribution in sales came from sales realisation that soared 49% to Rs 11,762 per square foot (sqft) in FY24 compared to Rs 7,886 per sqft FY23. The net debt stood at Rs 11.6 billion at the end of FY24 in comparison to Rs 10.9 billion in FY23.
Here are the key operational highlights for Q4 FY24 and FY24:
| Particulars | Q4 FY24 | Q4 FY23 | YoY | Q3 FY24 | QoQ | FY24 | FY23 | YoY |
| Pre-sales (Rs billion) | 41.4 | 12.2 | 239.5% | 12.6 | 228.2% | 72.7 | 34.3 | 111.9% |
| No of units | 1,484 | 1,399 | 6.1% | 1,179 | 25.9% | 4,619 | 4,512 | 2.4% |
| Area sold (million square foot) | 2.98 | 1.41 | 111.3% | 1.31 | 127.5% | 6.18 | 4.35 | 42.1% |
| Collections (Rs billion) | 10.1 | 5.9 | 71.7% | 7.7 | 31.3% | 31.1 | 19.2 | 61.8% |
| Sales realisation (per sqft) | – | – | – | – | – | 11,762 | 7,886 | 49.2% |
| Net debt (Rs billion) | – | – | – | 11.6 | 10.9 | – |
Pradeep Kumar Aggarwal, chairman and whole-time director, Signature Global, said, “The company’s pre-sales and collections growth in the last quarter is a testimony of its execution capabilities and the trust that it gets from the home buyers. In the last quarter, we launched our first project in the premium segment, which received an overwhelming response. On both fronts– pre-sales and collections, we were able to beat the guidance very comfortably and we are sure FY25 will also be the year of robust growth for the company as we focus on expanding our footprints in the mid-income and premium segment.”
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Dhwani is a content management expert with over five years of professional experience. She has authored articles spanning diverse domains, including real estate, finance, business, health, taxation, education and more. Holding a Bachelor’s degree in Journalism and Mass Communication, Dhwani’s interests encompass reading and travelling. She is dedicated to staying updated on the latest real estate advancements in India.
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