July 8, 2024: Real estate developer Signature Global has achieved pre-sales of Rs 31.2 billion in Q1 FY25 with year-on-year (YoY) growth of 255%. More than 30% of the FY25 guidance of Rs 100 billion in pre-sales was achieved in Q1 FY25. The company has entered the premium housing market and launched two group housing projects in Gurgaon, both receiving a great response, during the last two quarters.
The company’s collections in Q1 FY25 grew by 102% to Rs 12.1 billion from Rs 6 billion in Q1 FY24. Net debt reduced significantly by 16% to Rs 9.8 billion at the end of Q1 FY25 in comparison to Rs 11.6 billion as at the end of FY24. Sales realisation for Q1 FY25 significantly grew to Rs 15,369 per square foot (sqft) compared to Rs 11,762 per sqft in FY24.
| Signature Global operational highlights for Q1 FY25 | ||||||
| Particulars | Q1 FY25 | Q1 FY24 | YoY (%) | Q4 FY24 | QoQ (%) | FY24 |
| Pre-Sales (in Rs bn) | 31.2 | 8.8 | 255% | 41.4 | (25%) | 72.7 |
| No. of Units | 968 | 894 | 8% | 1,484 | (35%) | 4,619 |
| Area sold (in msf) | 2.03 | 0.91 | 123% | 2.98 | (32%) | 6.18 |
| Collections (in Rs bn) | 12.1 | 6.0 | 102% | 10.1 | 20% | 31.1 |
| Sales realisation (per sqft) | 15,369 | – | – | – | – | 11,762 |
| Net debt (in Rs bn) | 9.8 | – | – | – | – | 11.6 |
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 Rs 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.”
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