Signatureglobal (India) Ltd’s Subsidiary Launched New Project

On March 13, 2024, the share price of Signatureglobal (India) Ltd is in focus as the company has launched its new project under Affordable Housing Policy 2013 as ‘Orchard Avenue-3’ in Sector 93, Gurugram, through its subsidiary. The said project consists of a total of 235 units, with an area spread over 1.66 acres. This project caters to the growing demand for affordable housing in the city and falls under the Haryana Affordable Housing Policy 2013.

The share price of Signatureglobal (India) Ltd opened at ₹1,354.10 and touched the day low and high of ₹1,258.45 and ₹1,363.20, respectively, at 10:55 AM. The shares of Signature Global have delivered a return of ~183.78% in the past one year.

Signature Global has recently launched a new luxury housing project in Gurugram with an investment of ₹2,200 crore. It has already sold the entire project, comprising 1,008 units, for ₹3,600 crore. The 16.5-acre project ‘DE LUXE-DXP’ is located at Sector 37D, Gurugram, on Dwarka Expressway.

Plans for Significant Investments

The Chairman of Signatureglobal (India) Ltd, Pradeep Aggarwal, recently stated that the company will invest ₹1,000-₹1200 crore every year for acquiring land for the development of housing projects and encash strong consumer demand. The company is also focused on new partnerships with landlords for the development of housing projects apart from outright land acquisition.

During the first nine months of FY 2024, the company achieved a growth of 41% in sale bookings to ₹3,124.12 crore from ₹2,209.78 crore in the same period of the prior year. In addition, the sales booking is likely to be ₹7,200 crore during FY 2024 after achieving sales of ₹3,600 crore in its new project on Dwarka Expressway.

About Signatureglobal (India) Ltd

Signatureglobal (India) Limited is a real estate development company operating in the Delhi- NCR (National Capital Region) focussed on offering affordable and mid-segment housing. Signature Global is one of the leading real estate development companies in Delhi NCRin affordable and lower mid-segment housing in terms of units supplied, with a market share of 19% in FY23.

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.