Signature Global to invest Rs 1,000-1,200 cr per year to buy land for housing projects
Signature Global will invest Rs 1,000-1200 crore per year to purchase land for the development of housing projects and encash strong consumer demand, its Chairman Pradeep Aggarwal has said. In an interview with PTI, he highlighted that housing demand has been very strong in the past two years across all segments, be it affordable, mid-income, premium, luxury or super luxury.
Aggarwal expects the demand momentum to sustain on better economic growth.
«We will be investing Rs 1,000-1200 crore every year for outright purchase of land to achieve our growth plan,» Aggarwal said.
Apart from outright land acquisition, he said the company would also be open to partnership with landlords for the development of housing projects.
«We will continue to focus on the Gurugram property market for short to medium term,» he said.
On sales bookings, Aggarwal said the company is expecting to reach around Rs 7,200 crore this fiscal against Rs 3,430 crore in the previous financial year.
Recently, the company launched a new luxury housing project in Gurugram with an investment of Rs 2,200 crore. It has already sold the entire project, comprising 1,008 units for Rs 3,600 crore.
The 16.5-acre project 'DE LUXE-DXP' is located at Sector 37D, Gurugram, on Dwarka Expressway.
During the first nine months of this fiscal, Signature Global has achieved 41 per cent growth in sale bookings to Rs 3,124.12 crore from Rs 2,209.78 crore in the year-ago period.
The sales booking number is set to reach Rs 7,200 crore this fiscal after it achieved
