The corporate has signed three separate joint growth agreements (JDAs) with landlords to develop housing tasks on a complete of 21.38 acres of land parcel. The event potential in quantity phrases is 32 lakh sq. ft of residential area.
Signature International Chairman Pradeep Aggarwal stated the corporate has entered into JDAs to broaden its enterprise amid rising housing demand throughout main cities.
Requested concerning the income potential, Aggarwal advised PTI, “The potential gross sales realisation shall be in extra of ₹5,000 crore from these JDAs.”
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Amongst three tie ups, the corporate has entered right into a JDA for a 16.12-acre land that has 25 lakh sq ft of developable space.
The second JDA is for 4.26 acres having 5.3 lakh sq ft growth potential, whereas the third JDA is of round 1 acre with 1.9 lakh sq ft of growth potential.
These land parcels are situated in Sector 71, Gurugram and are adjoining to the corporate’s present tasks.
These JDAs are with a number of privately-owned firms.
Aggarwal stated the corporate targets to launch these tasks inside subsequent 12-24 months.
In the meantime, Signature International reported a consolidated web revenue of ₹2.17 crore within the quarter ended December.
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The corporate had posted a web lack of ₹44.89 crore within the year-ago interval.
Whole revenue rose to ₹301.75 crore within the third quarter of this fiscal from ₹191.78 crore within the corresponding interval of the earlier 12 months.
Throughout April-December interval of 2023-24 fiscal, Signature International’s web loss has narrowed to ₹24.93 crore from a web lack of ₹71.36 crore within the year-ago interval.
Signature International had posted a web lack of ₹56.75 crore on a complete revenue of ₹1,585.87 crore within the 2022-23 monetary 12 months.
Final month, the corporate had knowledgeable that it has achieved sale bookings of ₹1,262.73 crore through the third quarter of this fiscal, registering a 47 per cent development yearly.
The corporate, which obtained listed in September 2023 on inventory exchanges, had achieved sale bookings of ₹856.77 crore within the year-ago interval.
Signature International bought 1,179 items through the October-December interval of this fiscal as in opposition to 1,089 items in the identical interval of the earlier monetary 12 months.
Throughout April-December interval of 2023-24 fiscal, Signature International bought properties price ₹3,124.12 crore, up 41 per cent from ₹2,209.78 crore within the year-ago interval.
The corporate bought 3,135 items within the first 9 months of this fiscal as in opposition to 3,113 items within the year-ago interval.
Signature International is likely one of the main actual property builders within the Delhi-NCR. It primarily focuses on mid-income and inexpensive housing segments.
The Gurugram-based firm had launched its maiden public provide final 12 months to lift ₹730 crore.
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