Signature Global Q3 Sale Bookings Up 47% To Rs 1,263 Crore On Better Housing Demand

Signature Global Q3 Sale Bookings Up 47% To Rs 1,263 Crore On Better Housing Demand

In a regulatory filing, Signature Global said the company sold 1,179 units in October-December period of this fiscal as against 1,089 units in the year-ago period.

Delhi NCR based real estate developer Signature Global has reported 47 per cent increase in its sales booking to Rs 1,262.73 crore for the third quarter of financial year 2023-23 even as the company sold 1,179 units between October and December 2023 as against 1,089 in the same period in 2022, the realty firm said in a regulatory filing.

Signature Global’s sale bookings stood at Rs 856.77 crore in the Q3 FY 2022-23 period.

In a regulatory filing on January 8, Signature Global said that in the first nine month of FY 2023-24, the company recorded 41 percent growth in sale bookings to Rs 3,124.12 crore from Rs 2,209.78 crore in the year-ago period.

It sold 3,135 units during April-December this fiscal, marginally up from 3,113 units in the corresponding period of the previous year.

The company’s sale bookings rose to 1.31 million square feet in the Q3 FY24 from 1.10 million square feet in the year-ago period. In volume terms, sale bookings grew 9 percent to 3.2 million square feet in the first nine months of FY 24 from 2.94 million square feet in the year-ago period.

In the full 2022-23 financial year, Signature Global sold 4,512 units for Rs 3,430.58 crore. In volume terms, the company sold 4.35 million square feet area. The company’s net debt stood at Rs 8,35.4 crore at end of Q3FY24, the company said.

In September 2023, Signature Global launched its IPO to raise Rs 730 crore. The public issue, comprising a fresh issue of shares worth Rs 603 crore and an Offer for Sale (OFS) of Rs 127 crore, was subscribed 11.88 times.

Signature Global’s Chief Executive Officer (CEO), Rajat Khaturia, had told Moneycontrol in September that the realty firms plans to develop residential projects comprising around 21 million square feet (msf) in the next six to seven years.

Signature Global is backed by equity investors like HDFC and IFC and has delivered over 6 million square feet of area and has ongoing projects in 17.21 million square feet area.

Source : Money Cantrol

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