New Delhi, March 31 Real estate firms Signature Global (India) Ltd and RMZ Group have entered into an equal joint venture to develop a commercial project in Gurugram, with the latter investing Rs 1,293 crore for a 50 per cent stake.
In February this year, Signature Global announced a partnership with RMZ Group to develop an 18-acre commercial project with a total investment of around Rs 7,500 crore.
The project will have a leasable area of 55 lakh square feet, of which about 35 lakh sq ft would be prime office space, and the remaining area for retail spaces and two hotels with around 500 rooms each.
In a statement on Tuesday, Signature Global said, "We have successfully secured an investment of Rs 1,293 crore from RMZ Group."
The RMZ Group will own a 50 per cent equity stake in Gurugram Commercity Ltd (GCL), which was a wholly-owned subsidiary of Signature Global.
Following the completion of the transaction, Signature Global and RMZ have formed a 50:50 joint venture to develop a large-scale mixed-use commercial project on the Southern Peripheral Road (SPR) in Gurugram.
Signature Global, GCL, and Millennia Realtors Pvt Ltd (an RMZ entity), have executed a Securities Subscription and Purchase Agreement (SSPA). Pursuant to this, RMZ has acquired a 50 per cent stake in GCL through a combination of share purchase and share subscription, for an aggregate consideration of Rs 1,293 crore.
Upon completion, the upcoming project is expected to have a total capital value of Rs 14,000–16,000 crore.
The JV firm owns this land parcel.
Pradeep Aggarwal, Founder & Chairman of Signature Global, said the company is expanding its development portfolio with this large-scale mixed-use project.
"The successful closing of this transaction and the receipt of RMZ's investment further bolster our financial standing and reinforce the market's confidence in our execution capabilities," he added.
Till December 2025, Signature Global has delivered 16.5 million square feet of real estate. In the 2024-25 fiscal, the company reported sales bookings of Rs 10,290 crore, becoming the fifth largest listed real estate company.
RMZ Group is mainly into commercial real estate.
Founded in 2002, RMZ has developed and owns over 70 million square feet of assets across six major Indian cities, with assets in excess of USD 20 billion.