Signature Global’s Q4 Business Updates: Sale Bookings Decline 61% To Rs 1,620 Crore
The company said, "strong customer confidence, timely execution, and successful new launches in Gurugram and adjoining markets" helped annual collections rise by 41%.
Signature Global India Ltd. reported sale bookings at Rs 1,620 crore in the latest March quarter. This is a decline of 61% year on year.
The company's sale bookings were Rs 4,140 crore in the fourth quarter of the 2023-24 fiscal, while for the entire 2023-24 financial year, the figure stood at Rs 7,270 crore.
The realty firm's pre-sales during the entire financial year 2024-25 witnessed a rise of 42% to Rs 10,290 crore.
Signature Global's Chairman and Whole-Time Director Pradeep Kumar Aggarwal asserted that the company has surpassed the annual guidance of Rs 10,000 crore for the 2024-25 fiscal.
"Our ability to anticipate market trends, launch timely projects in high-potential micro-markets, and consistently deliver value across the premium and mid-income segments has been central to this growth," he said.
The company's press release stated that it has achieved record annual collections of Rs 4,380 crore from customers, marking a 41% annual increase. It attributed the rise in collections to "strong customer confidence, timely execution, and successful new launches in Gurugram and adjoining markets".
The company's average sales realisation also improved to Rs 12,457 per square foot in FY25 from Rs 11,762 in the preceding fiscal year.
"Some of the launches initially planned for March 2025 have been realigned to the current quarter due to minor delays in approvals," Signature Global's press release stated.
The company said that it was able to successfully reduce its net debt to Rs 880 crore by the end of FY25. In FY24, its net debt stood at Rs 1,160 crore.
It added that despite significant investments in land acquisitions it could reduce the debt due to its disciplined capital management and strong operating cash flows. In FY25, the company's land acquisitions totaled 47.71 acres, which had a development potential of 7.97 million square feet.
Since its inception, Signature Global has delivered 13.5 million square feet of area.
Shares of Signature Global India Ltd closed 1.55% higher at Rs 1,068.25 apiece on the BSE, compared to a 1.49% advance in the benchmark Sensex.
—With PTI inputs
