Gurugram — Real estate firm Signature Global plans to invest approximately ₹4,000 crore to develop two premium housing projects in Gurugram as part of its expansion strategy, Chairman Pradeep Kumar Aggarwal said, as published by Hindustan Times.
In an interview with PTI, Aggarwal stated that the company aims to launch more than 40 lakh (4 million) square feet of residential space in the next quarter, targeting the ₹2-5 crore price range.
“There is significant demand in this segment, but supply remains limited,” he said.
Despite a slight slowdown from the rapid growth seen in previous years, Aggarwal noted that demand for residential properties, particularly from established developers, continues to be strong.
The total cost for the two projects, including land, construction, and associated expenses, is estimated at ₹4,000 crore.
Signature Global reported property sales worth ₹8,670 crore between April and December of the current fiscal year, a substantial increase from ₹3,120 crore during the same period last year. The company’s average pre-sales realization rose to ₹12,565 per square foot in the April-December 2024-25 period, compared to ₹11,762 per square foot for the entire 2023-24 fiscal year.
For the full fiscal year, Signature Global has set a sales booking target of ₹10,000 crore, up from ₹7,270 crore in the previous year. Aggarwal expressed confidence in exceeding this target.
The company is working toward achieving zero net debt in the next fiscal year through strong internal cash flows. It reduced its net debt to ₹740 crore in the October-December quarter, down from ₹1,020 crore in the preceding quarter.
During the first nine months of the fiscal year, Signature Global delivered 24.2 lakh (2.42 million) square feet of residential space, compared to 20 lakh (2 million) square feet in the year-ago period. Since its inception, the company has delivered 120 lakh (12 million) square feet of housing area.
With a strong development pipeline, the company has 350 lakh (35 million) square feet of saleable area planned for upcoming projects and 158 lakh (15.8 million) square feet under ongoing construction.
In line with its expansion strategy, Signature Global has been actively acquiring land to strengthen its portfolio.