In a strategic move to expand its footprint in the real estate sector, Signature Global, a prominent real estate firm, has acquired two land parcels in Gurugram, Haryana, totalling approximately 10 acres. This acquisition is part of the company’s broader plan to upscale its housing project developments in the region.
Details of the Acquisition
The newly acquired lands are located at Tehsil Sohna, District Gurugram, Haryana, and span nearly 9.96 acres. These parcels are projected to have a potential sales area of approximately 0.53 million (5.3 lakh) square feet. This acquisition aligns with Signature Global’s strategy to bolster its portfolio and capitalize on the growing real estate demand in Gurugram.
| Quick Facts | Details |
|---|---|
| Total Land Acquired | 10 acres |
| Location | Tehsil Sohna, District Gurugram, Haryana |
| Potential Sales Area | 0.53 million sq ft |
| Investment Planned | ₹1,200-1,500 crore |
Investment and Expansion Strategy
Pradeep Kumar Aggarwal, Chairman of Signature Global, emphasized the importance of land acquisition for real estate developers. “Land is an important raw material for real estate developers. We will be investing around ₹1,200-1,500 crore on the acquisition of land parcels this fiscal,” he stated. This statement underscores the company’s aggressive expansion strategy, which previously saw an investment of ₹1,070 crore in acquiring 48 acres in the same region.
Company Performance and Future Goals
Signature Global has emerged as a formidable player in the real estate market, ranking as the fifth-largest listed real estate developer last fiscal year, with record pre-sales of ₹10,290 crore. The company aims to achieve ₹12,500 crore in pre-sales in the current fiscal year, reflecting its robust growth trajectory.
Ramping Up Construction Activities
In addition to land acquisition, Signature Global is intensifying its construction efforts. The company plans to invest ₹2,500 crore in the 2025-26 fiscal year for construction activities, a significant increase from the ₹1,900 crore investment in the preceding year. This expansion is part of Signature Global’s strategic shift from affordable housing projects to mid-income, premium, and luxury segments, driven by the high land costs in Gurugram.
Financial Highlights
The firm’s financial performance has been noteworthy, with a net profit of ₹101.2 crore last fiscal year, a substantial rise from ₹16.32 crore in the previous year. The total income surged to ₹2,637.99 crore from ₹1,324.55 crore in 2023-24. Signature Global’s impressive financial results are complemented by its strong pipeline of projects, with 13.5 million sq ft of delivered housing projects and approximately 21.6 million sq ft of saleable area in upcoming projects.
FAQs
Q1: What are the recent land acquisitions by Signature Global?
A: Signature Global has acquired two land parcels in Gurugram, Haryana, totalling approximately 10 acres, for housing projects.
Q2: What is the estimated sales area for the new projects?
A: The newly acquired land parcels have a potential sales area of about 0.53 million (5.3 lakh) square feet.
Q3: How much does Signature Global plan to invest in land acquisition this fiscal?
A: Signature Global plans to invest around ₹1,200-1,500 crore in land acquisitions this fiscal year.
Q4: What are the company’s construction investment plans?
A: The company plans to invest ₹2,500 crore in the 2025-26 fiscal year for construction activities, increasing from ₹1,900 crore in the previous fiscal year.
Q5: What is Signature Global’s current focus in terms of housing segments?
A: Due to high land costs in Gurugram, Signature Global has shifted its focus from affordable housing to mid-income, premium, and luxury segments.
In conclusion, Signature Global’s recent land acquisitions in Gurugram highlight its commitment to expanding its presence in the real estate market. With significant investments planned for both land acquisition and construction, the company is well-positioned to meet its ambitious sales targets and continue its upward trajectory in the industry.