New Delhi: Real estate firm Signature Global on Sunday reported a 3.5-fold rise in sales bookings to Rs 3,120 crore for the April-June quarter due to high demand for its housing projects.
The company's sales bookings stood at Rs 820 crore in the same period last year.
According to a regulatory filing, Signature Global sold 968 units in the first quarter of this fiscal year as against 894 units in the corresponding period of the previous year.
In terms of volume, its sales bookings more than doubled to 2.03 million square feet from 0.91 million square feet a year earlier.
Signature Global Chairman Pradeep Kumar Aggarwal said the company continues to advance on a high-growth trajectory, achieving strong pre-sales and collections numbers for the third consecutive quarter.
"We closed the last fiscal year on an exceptional note, surpassing our forecasts by a substantial margin in both pre-sales and collections. This fiscal year, we have set an ambitious target of achieving Rs 10,000 crore in pre-sales. Surprisingly, in just the first quarter we have already exceeded 30 percent of this objective," he stated.
Aggarwal said the company has received strong response from customers for its premium residential projects, which were launched in the last few quarters.
Signature Global sold properties worth Rs 7,270 crore in 2023-24 and has set a sales booking target of Rs 10,000 crore for the current financial year.
Almost all listed real estate companies have performed very well in the last two years, driven by an increase in housing demand.
After the COVID pandemic, end users and investors have shown great interest in purchasing residential properties.
Sales have increased despite sharp price increases over the past two years.
The listed Gurugram-based company has so far delivered 10.4 million square meters of living space.
It has a strong portfolio of approximately 32.2 million square feet of salable area in its upcoming projects and 16.4 million square feet of area in its ongoing projects.
Founded in 2014, Signature Global, one of India's leading real estate developers, focused solely on affordable housing projects in its early years of inception.
The company has expanded its presence into the luxury, premium and mid-income housing segments.
The company's sales bookings stood at Rs 820 crore in the same period last year.
According to a regulatory filing, Signature Global sold 968 units in the first quarter of this fiscal year as against 894 units in the corresponding period of the previous year.
In terms of volume, its sales bookings more than doubled to 2.03 million square feet from 0.91 million square feet a year earlier.
Signature Global Chairman Pradeep Kumar Aggarwal said the company continues to advance on a high-growth trajectory, achieving strong pre-sales and collections numbers for the third consecutive quarter.
"We closed the last fiscal year on an exceptional note, surpassing our forecasts by a substantial margin in both pre-sales and collections. This fiscal year, we have set an ambitious target of achieving Rs 10,000 crore in pre-sales. Surprisingly, in just the first quarter we have already exceeded 30 percent of this objective," he stated.
Aggarwal said the company has received strong response from customers for its premium residential projects, which were launched in the last few quarters.
Signature Global sold properties worth Rs 7,270 crore in 2023-24 and has set a sales booking target of Rs 10,000 crore for the current financial year.
Almost all listed real estate companies have performed very well in the last two years, driven by an increase in housing demand.
After the COVID pandemic, end users and investors have shown great interest in purchasing residential properties.
Sales have increased despite sharp price increases over the past two years.
The listed Gurugram-based company has so far delivered 10.4 million square meters of living space.
It has a strong portfolio of approximately 32.2 million square feet of salable area in its upcoming projects and 16.4 million square feet of area in its ongoing projects.
Founded in 2014, Signature Global, one of India's leading real estate developers, focused solely on affordable housing projects in its early years of inception.
The company has expanded its presence into the luxury, premium and mid-income housing segments.
