Signature Global, a prominent name in Indian real estate, has unveiled plans to invest approximately ₹2,200 crore in developing a premium residential project in Gurugram. This strategic move comes as part of the company’s broader growth vision to surpass ₹12,500 crore in pre-sales for FY 2025, building on its record-breaking ₹10,290 crore achievement in the previous fiscal year.
The newly launched project, Cloverdale, is situated in Sector 71 along the Southern Peripheral Road (SPR), a fast-developing corridor in Gurugram. Featuring 770 premium apartments spread over 8 acres, Cloverdale is part of a larger 22-acre development scheduled for completion by 2031.
Key Project Highlights: Cloverdale by Signature Global
📌 Quick Facts
| Feature | Details |
|---|---|
| Project Name | Cloverdale |
| Location | Sector 71, SPR, Gurugram |
| Total Investment | ₹2,200 crore |
| Apartments | 770 units |
| Price Range | ₹4 crore – ₹7 crore |
| Project Area | 8 acres (part of 22-acre development) |
| Completion Target | 2031 |
| Pre-sales Target FY25 | ₹12,500 crore |
| Previous Year Pre-sales | ₹10,290 crore |
Strategic Expansion Backed by Strong Financials
With a clear focus on the premium and mid-income housing segments, Signature Global has rapidly evolved from its affordable housing roots. The shift comes in response to rising land costs in Gurugram, prompting the company to recalibrate its strategy to target a more affluent demographic.
“Our new project reflects the continued robust demand for premium housing in Gurugram, especially from reputed developers,” said Pradeep Kumar Aggarwal, Chairman of Signature Global.
Aggressive Investment Plan
Signature Global plans to invest over ₹4,000 crore in the current fiscal year:
- ₹1,200–₹1,500 crore earmarked for land acquisition
- ₹2,500 crore for construction activities
- ₹875 crore to be raised via non-convertible debentures (NCDs), of which ₹450 crore will refinance existing debt and the rest will support business expansion
Performance Snapshot & Growth Outlook
- FY24 Net Profit: ₹101.2 crore (vs ₹16.32 crore in FY23)
- Total Income: ₹2,637.99 crore (vs ₹1,324.55 crore in FY23)
- Delivered Projects: 13.5 million sq ft
- Ongoing Projects: 46.38 million sq ft
- Pipeline Projects: 21.6 million sq ft
What the Leadership Says
“Housing demand continues to be strong in this city, especially for reputed builders. We are expanding into premium segments to match market dynamics,”
– Pradeep Kumar Aggarwal, Chairman, Signature Global
“We aim to close our ₹875 crore NCD issuance by August, subject to shareholder approval,”
– Aggarwal on fundraising plans
Frequently Asked Questions (FAQs)
1. What is Signature Global’s new project in Gurugram?
Cloverdale is a premium residential project comprising 770 units in Sector 71, SPR, Gurugram, with prices ranging between ₹4 crore to ₹7 crore.
2. How much is Signature Global investing in Cloverdale?
The company will invest approximately ₹2,200 crore for development of this project.
3. What are the pre-sales targets for Signature Global this fiscal?
The company aims to achieve ₹12,500 crore in pre-sales during FY25.
4. How is Signature Global funding its expansion?
It plans to raise ₹875 crore through NCDs, with part of the funds used for refinancing and the rest for business expansion.
5. What is the expected completion timeline for the Cloverdale project?
The project is scheduled to be completed by 2031.