Signatureglobal (India) soars 6.70% after its luxury project sales in Gurugram garner Rs 2,700 crore

Signatureglobal (India) Ltd shares soared by 6.70 per cent on BSE on Monday (July 1, 2024) after the real estate firm gained record sales of over Rs 2,700 crore at the launch of the luxury residence project "Titanium SPR" in Gurugram.

Signatureglobal (India) that closed trading at Rs 1,386.65 in the previous session soared to Monday's high of Rs 1,479.60.

It was slightly short of its 52-week high of Rs 1,485.50.

The stock of the real estate company was trading higher by 3.21 per cent, or Rs 44.50, at Rs 1,431.15. 

Why Signatureglobal (India) shares are rising?

The stock is rising because its Titanium SPR project has received huge response from buyers.

"From the expression of interest, the ongoing allotment process has achieved remarkable sales of over Rs 2,700 crores till now. The total sales figure is expected to increase significantly after the finalisation of the allotment, setting a new benchmark in the region's premium housing segment," said the company.

The project Titanium SPR Sector 71, Gurugram, is a two-phase project with a total sales potential area of 3.7 million sq. ft, as per the company's statement. 

The first phase comprises 2.1 million sq. ft, and the remaining 1.5 million sq. ft, the second phase will be launched soon, says the firm. 

This project launch is part of land parcels with a sales potential of 17 million sq. ft. in Sector 71, Gurugram.