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Motilal Oswal Report
SignatureGlobal India Ltd., with its strong presence in strategic locations in Gurugram, is on track to capitalize on the ongoing demand, guided by a strong project pipeline of 24.3msf.
With a projected 35% CAGR growth in pre-sales over FY24-27, the company is set to cumulatively collect Rs 285 billion. Its strategic shift from the affordable to mid/mid-premium segment is expected to drive a strong cumulative operating cash flow of Rs 95 billion.
This will enable the company to turn net cash positive and reinvest in land to fuel future growth.
We reiterate Buy with a target price of Rs 2,000/share and a potential upside of 50%.
Key risks to our target price include:
a slowdown in residential absorption,
a delay in the monetization of forthcoming projects, and
slower business development convergence
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