Signature Global buys 3.8 acre land in Sector 37D of Dwarka Expressway, Gurugram

economictimes.indiatimes.com:

Signature Global has acquired 3.8 acre land in Sector 37D of Dwarka Expressway, Gurugram with a total development potential of 600,000 sq ft.

The acquisition is followed by another purchase of 14.65 acre land in the same sector as the company looks to develop multiple projects in the micro market.

“Dwarka Expressway has swiftly become a premier destination for homebuyers seeking luxury residences. In recent years, numerous high-end residential projects have been launched in this area, with many more expected in the near future,” Pradeep Kumar Aggarwal, Chairman and Whole-Time Director had said on acquisition of earlier land.

“We aim to launch a residential project on this land in FY25-26, reinforcing our presence in the luxury housing market,” Aggarwal had said.
The company has reported Rs 7,270 crore pre-sales in FY 24 and achieved its best ever quarterly and annual pre-sales.

Company reported Rs 4,140 crore pre-sales in Q4 FY 24, with year on year growth rates of 240% for the fourth quarter and 112% for the full year. Company has significantly exceeded its guidance of Rs 4,500 crore in FY24, due to successful launch of its first ever premium housing project.

The company’s collections in FY24 grew 62% to Rs 3,110 crore comfortably beating its annual guidance of Rs 2,900 crore.

Major contribution in sales came from sales realisation that soared 49% to Rs 11,762 per sq. ft in FY24 compared to Rs 7,886 per sq. ft in FY23.