In an announcement, the corporate mentioned it has acquired 14.65 acres of land in Sector 37D close to Dwarka Expressway, Gurugram.
Nonetheless, it didn’t disclose the deal worth and the title of the vendor.
Sources mentioned the deal worth could possibly be round ₹350 crore.
Signature International plans to develop a residential undertaking comprising 27 lakh sq. toes space.
Pradeep Kumar Aggarwal, Chairman of Signature International, expects the demand for residential housing on this area to stay robust.
“We goal to launch a residential undertaking on this land in 2025-26, reinforcing our presence within the luxurious housing market,” Aggarwal mentioned.
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Signature International Ltd has set a goal to promote ₹10,000 crore price housing properties in 2024-25, up 38 per cent from the final fiscal.
Efficiency in 2023-24 fiscal
The corporate’s gross sales bookings greater than doubled to ₹7,268 crore in 2023-24 from ₹3,430 crore within the previous 12 months.
The corporate, which is principally creating initiatives at Gurugram in Haryana, bought 4,619 models final fiscal as in opposition to 4,512 models in 2022-23.
By way of space, Signature International bought 6.18 million sq. toes in 2023-24, up from 4.35 million sq. toes within the previous 12 months. Gross sales realisation for the 2023-24 averaged ₹11,762 per sq. toes in comparison with ₹7,886 per sq. toes within the earlier fiscal.
“The monetary 12 months 2023-24 marked a big interval for our firm, characterised by a number of achievements, together with a profitable IPO, growth into the premium phase, and a notable transition to mid-income housing from inexpensive housing,” Aggarwal mentioned.
Signature International reported a greater than five-fold soar in its consolidated web revenue to ₹41.21 crore for the quarter ended March, pushed by larger revenue.
Its web revenue stood at ₹7.60 crore within the year-ago interval.
Complete revenue elevated to ₹722.73 crore within the fourth quarter of the final fiscal 12 months from ₹709.86 crore within the corresponding interval of the previous 12 months, in accordance with a regulatory submitting.
Throughout the 2023-24 fiscal, the corporate posted a web revenue of ₹16.18 crore as in opposition to a web lack of ₹63.86 crore within the previous 12 months.
Nonetheless, complete revenue decreased to ₹1,324.55 crore within the final fiscal from ₹1,585.87 crore within the 2022-23 fiscal.
In September final 12 months, Signature International efficiently launched its IPO (preliminary public providing) to boost ₹730 crore. The general public challenge, comprising a recent challenge of shares price ₹603 crore and an Provide for Sale (OFS) of ₹127 crore, was subscribed 11.88 occasions.
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