Real estate company Signature Global has awarded a construction contract worth ₹1,144 crore to Ahluwalia Contracts for its luxury housing project in Gurugram.
The project, named ‘De-luxe DXP,’ is located in Sector 37D, Dwarka Expressway, and covers 16.65 acres. It will feature 1,008 housing units, with a total developable area of 28.12 lakh square feet, according to a statement from Signature Global.
Lalit Kumar Aggarwal, Vice Chairman of Signature Global (India) Ltd, shared that the construction work has already begun. The company has partnered with Ahluwalia Contracts to ensure the project is completed on time and offers top-quality amenities.
Signature Global reported a record pre-sale of over ₹3,600 crore just days after the pre-launch of its luxury housing project. Ahluwalia Contracts, the company responsible for construction, aims to finish the project within 5 years.
So far, Signature Global has delivered 11 million square feet across different projects and has 32.2 million square feet of saleable area planned for upcoming projects, along with 16.4 million square feet in ongoing developments. In the 2023-24 financial year, Signature Global recorded sales bookings of ₹7,270 crore and is aiming for ₹10,000 crore in sales this fiscal year.
In Q1 FY25, Signature Global recorded pre-sales of ₹31.2 billion, a 255% increase compared to the same period last year. This shows the company’s solid market presence and high customer demand, with over 30% of its full-year pre-sales goal of ₹100 billion already reached. Collections also rose by 102% year-on-year to ₹12.1 billion, reflecting efficient cash flow and strong sales realisation of ₹15,369 per square foot.
Additionally, Signature Global reduced its net debt by 16%, bringing it down to ₹9.8 billion from ₹11.6 billion at the end of FY24, showcasing its sound financial management in a tough economic climate.
Signature Global India Ltd was established on March 28, 2000, as Ridisha Marketing Private Limited. It is the largest real estate developer in the Delhi National Capital Region (NCR), specialising in affordable and mid-segment housing. Over the years, Signature Global launched numerous projects across Gurugram and Haryana, including Grand IVA, Orchard Avenue, and others.
On September 09, 2024, the share price of Signature Global Ltd opened at ₹1,448.35, touching the day’s high of ₹1,464.10 at 01:20 PM.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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