New Delhi, Feb 27 – Realty major Signature Global is set to achieve zero net debt in the upcoming financial year, backed by robust internal cash flow and continued demand for its residential projects in Gurugram. The company has significantly reduced its net debt to ₹740 crore by the third quarter of FY24, down from ₹1,020 crore in the previous quarter.
"We will achieve zero net debt during the next financial year," stated Pradeep Kumar Aggarwal, Chairman of Signature Global, emphasizing the firm's ongoing efforts to strengthen its financial position. The company’s net debt stood at ₹1,160 crore at the end of FY23, reflecting a steady decline over the past year.
Robust Housing Demand in Premium Segment
Despite a slight slowdown in the housing market’s "frenzy" over the past few years, Aggarwal highlighted sustained demand in Gurugram. Signature Global is focusing on residential units in the ₹2-5 crore price range, where demand remains high but supply is limited.Strong Operational Performance
The company’s collections from customers surged 54% to ₹3,210 crore in the first nine months of FY24, up from ₹2,090 crore in the same period last year. Additionally, Signature Global recorded property sales worth ₹8,670 crore in April-December FY24, a sharp increase from ₹3,120 crore in the year-ago period.The average pre-sales realization for April-December FY25 climbed to ₹12,565 per square foot, compared to ₹11,762 per square foot in FY24. The company has set an ambitious sales booking target of ₹10,000 crore for the current fiscal, up from ₹7,270 crore in the previous year.
Expansion and Future Prospects
Signature Global has so far delivered 120 lakh sq ft of residential space and has a strong pipeline, including 350 lakh sq ft of upcoming projects and 158 lakh sq ft of ongoing developments. The company is actively acquiring land to further expand its footprint.With a clear focus on financial discipline and strategic growth, Signature Global is well-positioned to capitalize on Gurugram’s thriving real estate market in the coming years.
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