Stock Of The Day: Signatureglobal Hits Life High After Record Pre-Sales — Outlook, Key Levels To Watch

Signatureglobal (India) Ltd. extended gains to a new all-time high on Monday as the positive sentiment after reporting record pre-sales of luxury homes in a Gurugram project.

Signatureglobal's pre-sales grew 41% year-on-year to Rs 3,124.1 crore during the nine months ended December, according to an exchange filing. The price realisation rose 30.6% to Rs 9,800 per sq. ft. during the period and total collections rose 57% year-on-year to Rs 2,096.5 crore.

The company's net debt declined to Rs 843.6 crore as of Dec. 31, 2023, from Rs 1,093.9 crore as of March 31, 2023. The company aims to keep net debt below 1x the projected operating surplus for the ongoing financial year 2024.

The company has a 19% market share in Delhi NCR in the affordable and mid-housing segment, and 30% in Gurugram.