Axis Securities recommends ‘buy' on Signature Global stock
Pune, June 4 (UNI) Brokerage firm Axis Securities has recommended a 'buy' on Signature Global (India) Ltd with a target price of Rs 1,330, which is a 10 percent upside from the stock's current market price.
Signature Global (India) Ltd is one of the largest real estate development companies in the NCR/Delhi regions in the affordable and mid-income segments. The company has now shifted its focus to mid and premium housing and has been successful in doing so, said Axis Securities in its report on Wednesday.
Signature Global's stock closed at Rs 1,229.75 per share on June two. The stock is drawing attention from investors amid growing optimism about the company's future prospects.
Pre-sales for FY25 stood at Rs 10,290 crore, surpassing the company's guidance of Rs 10,000 crore and showing a strong 42 percent year-on-year growth. During the year, Signature Global launched projects with an approximate Gross Development Value (GDV) of Rs 13,800 crore and added around eight million sq ft of new projects.
The average ticket price of Signature Global's offerings rose to approximately Rs 2.5 crore, and the company's shift to premium housing has driven healthy sales momentum, said a company release here.
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