New Delhi, February 15 Signature Global, a real estate firm, plans to develop a branded luxury housing project in Gurugram with an estimated revenue of around ₹5,000 crore, a top company official said.
Signature Global Chairman Pradeep Aggarwal expressed confidence that the company will achieve its revised sales booking target of ₹10,300 crore for the current fiscal year.
He also highlighted that construction activities, which were affected in the December quarter due to a ban on pollution levels, have now accelerated across its various projects in Gurugram, and that the company expects a significant increase in revenue recognition during the January-March period.
Signature Global, which was the fifth-largest listed real estate firm last fiscal in terms of sales bookings, owns 25 acres of land on Southern Peripheral Road, Gurugram, to develop a large mixed-use project. It has allocated 7 acres for branded homes, while the remaining 18 acres will be used for office, retail, and hospitality spaces.
"We will develop a branded luxury residential project on 7 acres of land with a total saleable area of 20 lakh square feet. The total revenue potential is estimated at ₹5,000 crore," Aggarwal said.
The company is in talks with hospitality chains for a branded housing project, he added, and the project is expected to be launched for sale in 5-6 months.
Aggarwal noted that there is strong demand for branded homes across major cities.
To develop the 18-acre land, Signature Global formed a joint venture with Bengaluru-based RMZ Group on Saturday.
Both partners will build a commercial project with a total investment of around ₹7,500 crore.
The commercial project will have a leasable area of 55 lakh square feet, of which 35 million sq ft will be prime office space, while the remaining will be retail spaces and two hotels.
As part of the transaction, Signature Global subsidiary Gurugram Commercity Ltd (GCL) and RMZ entity Millennia Realtors have entered into a Securities Subscription and Purchase Agreement (SSPA).
Under the SSPA, the RMZ entity will acquire a 50 per cent equity stake in GCL through a combination of share purchase and share subscription, for a total consideration of up to ₹1,283 crore.
Signature Global has delivered 16.5 million square feet of real estate so far, mostly in Gurugram. It is building many housing projects across various micro-markets of Gurugram.
In the 2024-25 fiscal year, Signature Global sold properties worth ₹10,290 crore.
