Signature Global FY24 pre-sales grow 112 Percent to INR 72.7 billion

Signature Global FY24 pre-sales grow 112 Percent to INR 72.7 billion

New Delhi,8th April 2024: Signature Global (BSE: 543990 | NSE: SIGNATURE), amongst the leading real estate development companies in India with a well-established brand in Delhi-NCR, achieved its best quarterly and annual pre-sales performance of INR 41.4 billion and INR 72.7 billion respectively with year on year growth rates of 240% for the fourth quarter and 112% for the full year. Company has significantly exceeded its guidance of INR 45 billion in FY24, due to successful launch of its first-ever premium housing project.

The Company’s collections in FY24 grew 62% to INR 31.1 billion again comfortably beating its annual guidance of INR 29 billion. Company achieved its best-ever quarterly and annual collection. Major contribution in sales came from sales realisation that soared 49% to INR 11,762 per sq. ft in FY24 compared to INR 7,886 per sq. ft in, FY23.

Net debt stood at INR 11.6 billion at the end of FY24 in comparison to INR 10.9 billion in FY23. There is a very marginal increase in net debt, however, it is on a much larger pre-sales which has more than doubled for the year.

Below is the operational highlights for the fourth quarter and full year ended March 31, 2024.

Particulars Q4FY24 Q4FY23 YoY (%) Q3FY24 QoQ (%) FY24 FY23 YoY (%)
Pre-Sales (INR Bn) 41.4 12.2 239.5% 12.6 228.2% 72.7 34.3 111.9%
No. of Units 1,484 1,399 6.1% 1,179 25.9% 4,619 4,512 2.4%
Area sold (mln sq. ft) 2.98 1.41 111.3% 1.31 127.5% 6.18 4.35 42.1%
Collections (INR Bn) 10.1 5.9 71.7% 7.7 31.3% 31.1 19.2 61.8%
Sales Realization (per sq. ft.) 11,762 7,886 49.2%
Net Debt (INR Bn)     11.6 10.9

Commenting on the company’s performance, Mr. Pradeep Kumar Aggarwal, Chairman and Whole- Time Director, said “The Company’s pre-sales and collections growth in the last quarter is a testimony of its execution capabilities and the trust that it gets from the home buyers. In the last quarter, we launched our first project in the premium segment, which received an overwhelming response. On both fronts – pre-sales and collections, we were able to beat the guidance very comfortably and we are sure FY25 will also be the year of robust growth for the Company as we focus on expanding our footprints in mid-income and premium segments. We whole-heartedly thank all our customers for believing in our capabilities and ensure that their trust will never be broken as we deliver quality construction within given deadlines.”