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Signature Global (India) is set to transform Gurugram's real estate landscape with its upcoming residential projects. Pradeep Aggarwal, chairman and full-time director, announced plans to launch 8-10 million sq. ft of residential space in the next six months, marking a significant expansion for the company.
The projects will be strategically located in key areas including sectors 71, 84, and 37-D, as well as along Sohna Road. Of particular note is the joint development agreement for a 2.8-acre land parcel, indicative of the company's commitment to strategic partnerships.
In sector 71 alone, Signature Global plans to introduce three million sq. ft out of a total potential of 15 million sq. ft. The Sohna road project will span approximately 130 acres, with four million sq. ft slated for development under Haryana Enterprises and Employment Policy-2020. Additionally, 0.8 million sq. ft in Sector 84 and 0.3 million sq. ft in Sector 37-D are earmarked for development.
With an eye on affordability, the company aims to price properties competitively, ranging from INR 1-1.5 crore for mid-income housing along Sohna road to INR 4-5 crore for upper mid-income residences in sector 71.
Looking ahead, Signature Global has set an ambitious target to deliver projects worth INR 11,000-12,000 crore by 2026. Despite a reported loss after tax of INR 63 crore in the previous fiscal year, the company is optimistic about its prospects, with a focus on the mid-income and upper mid-income segments driving its growth trend.
To support this expansion, Signature Global plans to invest INR 1,000-1,200 crore annually for land acquisition. They are open to both outright land purchases and partnerships with landowners for project development. Their short-to-medium term focus will remain firmly on the Gurugram market.
The company's strong sales performance bolsters their growth prospects. Signature Global is expecting to reach sales bookings of around INR 7,200 crore this fiscal, more than double the previous year's figure of INR 3,430 crore. This optimism stems from the recent success of their new luxury housing project in Gurugram, which involved an investment of INR 2,200 crore and achieved complete sales of all 1,008 units for a total of INR 3,600 crore.
In the initial nine months of this fiscal year, Signature Global has already achieved impressive growth in sales bookings, reaching INR 3,124.12 crore, a 41% increase compared to the same period last year. With the success of their new Dwarka Expressway project, the company is well on track to achieve their target of INR 7,200 crore in sales bookings for the year.
Signature Global has a strong foundation for future growth, with a delivered area of 6.7 million sq. ft. currently, 16.9 million sq. ft. under development, and a promising pipeline of 28.4 million sq. ft. of saleable area in the works. With their strategic expansion plans, focus on affordability, and commitment to land acquisition, Signature Global is meant to become a major player in shaping the future of Gurugram's real estate landscape.
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