Signature Global Q4 sales bookings jump 3.4 times to Rs 4,140 crore on strong housing demand

Realty firm Signature Global on Sunday reported a more than three-fold jump in its sales bookings to Rs 4,140 crore in the fourth quarter of last fiscal year, driven by strong demand for its luxury projects in Gurugram.

In a regulatory filing, the company informed that it clocked record sales bookings in the fourth quarter as well as in the full 2023-24 that saw sales more than doubling to Rs 7,270 crore from the previous year.

As per the data, Signature Global clocked sales bookings of Rs 4,140 crore in the January-March quarter of 2023-24 as against Rs 1,220 crore in the year-ago period. The company sold 1,484 units in the January-March period of last fiscal year as against 1,399 units in the year-ago period. In terms of volume, the company sold 2.98 million square feet area as against 1.41 million square feet.

In March, Signature Global sold 1008 luxury homes for around Rs 3,600 crore in its new project at Gurugram, Haryana, helping the company achieve record sales bookings last fiscal.

During the entire 2023-24 fiscal, the company's sales bookings more than doubled to Rs 7,270 crore from Rs 3,430 crore in the previous financial year. Signature Global had given sales bookings guidance of Rs 4,500 crore for the 2023-24 fiscal. The company sold 4,619 units last fiscal as against 4,512 units in 2022-23.

In terms of area, Signature Global sold 6.18 million square feet in 2023-24, up from 4.35 million square feet in the preceding years. Sales realization for the 2023-24 averaged Rs 11,762 per square feet compared to Rs 7,886 per square feet in the previous fiscal.

Pradeep Kumar Aggarwal, Chairman of Signature Global, said, "The company's pre-sales and collections growth in the last quarter is a testimony of its execution capabilities and the trust that it gets from the home buyers." "In the last quarter, we launched our first project in the premium segment, which received an overwhelming response. On both fronts pre-sales and collections, we were able to beat the guidance very comfortably and we are sure FY'25 will also be the year of robust growth for the company as we focus on expanding our footprints in mid-income and premium segment.

Till December 2023, Signature Global has delivered 6.7 million square feet area. It is developing 16.9 million square feet area and has a forthcoming pipeline of 28.4 million square feet of saleable area.