New Delhi: Real estate firm Signature Global will invest around Rs 2,500 crore this fiscal year in the construction of its various housing projects, its chairman Pradeep Kumar Aggarwal said on Wednesday.
He expressed confidence that the company would meet the sales booking guidance of Rs 10,000 crore for the current financial year 2024-25, a significant growth from Rs 7,270 crore in the previous year.
"We have accelerated construction work in all our projects. We will invest around Rs 2,500 crore during this financial year in purely construction activities," Aggarwal said on the sidelines of the Assocham real estate conference.
He said the company hopes to collect Rs 6,000 crore from customers in this fiscal year.
The company would also use excess internal cash flow to acquire land and reduce debt, he added.
"We are looking for land in Noida and Delhi markets for development of housing projects," he said, adding that the company intends to launch projects in these two new cities during 2025-26.
On Sunday, Signature Global reported a 3.5-fold rise in sales bookings to Rs 3.12 billion 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 said the company continues its high-growth trajectory, achieving strong pre-sales and collections numbers for the third consecutive quarter.
Publicly-listed Signature Global has so far delivered 10.4 million square feet of living space.
It has a strong pipeline of approximately 32.2 million square feet of salable area in its upcoming projects and 16.4 million square feet 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 initial years of establishment.
The company has expanded its presence into the luxury, premium and mid-income housing segments.
He expressed confidence that the company would meet the sales booking guidance of Rs 10,000 crore for the current financial year 2024-25, a significant growth from Rs 7,270 crore in the previous year.
"We have accelerated construction work in all our projects. We will invest around Rs 2,500 crore during this financial year in purely construction activities," Aggarwal said on the sidelines of the Assocham real estate conference.
He said the company hopes to collect Rs 6,000 crore from customers in this fiscal year.
The company would also use excess internal cash flow to acquire land and reduce debt, he added.
"We are looking for land in Noida and Delhi markets for development of housing projects," he said, adding that the company intends to launch projects in these two new cities during 2025-26.
On Sunday, Signature Global reported a 3.5-fold rise in sales bookings to Rs 3.12 billion 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 said the company continues its high-growth trajectory, achieving strong pre-sales and collections numbers for the third consecutive quarter.
Publicly-listed Signature Global has so far delivered 10.4 million square feet of living space.
It has a strong pipeline of approximately 32.2 million square feet of salable area in its upcoming projects and 16.4 million square feet 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 initial years of establishment.
The company has expanded its presence into the luxury, premium and mid-income housing segments.
