Signature Global to launch homes worth Rs 6k cr in Gurugram in Jul-Sep: Chairman
New Delhi, Jul 20 (PTI) Realty firm Signature Global plans to launch homes worth Rs 6,000 crore for sale in Gurugram in the current quarter to cater to the demand from end-users and investors.
Signature Global was the fifth-largest listed real estate firm in 2024-25, in terms of sales bookings, falling behind Godrej Properties, DLF, Lodha Group and Prestige Estates Projects Ltd.
The company had clocked record pre-sales of Rs 10,290 crore last fiscal.
In an interview with PTI, Signature Global Chairman Pradeep Kumar Aggarwal said the company launched one housing project in Gurugram during the June quarter with total revenue potential of around Rs 3,500 crore.
'We are planning to launch 3.5-4 million square feet in the current quarter. The total sales potential would be around Rs 6,000 crore," he said.
Aggarwal said the demand continues to be strong, especially for good brands.
'The maximum demand is in the Rs 2-4 crore category," he observed.
Recently, on the sidelines of a real estate conference, Aggarwal asserted that there was no bubble in the Gurugram housing market and ruled out any price crash.
Aggarwal remains confident of achieving its target to sell Rs 12,500 crore worth of homes this fiscal, even as its pre-sales dipped 15 per cent in the June quarter.
The company sold 778 homes in April-June 2025 against 968 units a year ago.
In terms of volumes, pre-sales dipped 20 per cent to 16 lakh square feet.
During the June quarter, the average sales realisation stood at Rs 16,296 per sq ft compared to Rs 12,457 per sq ft in the last fiscal.
To expand business and refinance debt, Signature Global is also looking to raise Rs 875 crore through the issue of non-convertible debentures.
It posted a net profit of Rs 101.2 crore in the last fiscal, a sharp jump from Rs 16.32 crore in the preceding year.
Its total income grew to Rs 2,637.99 crore in the last fiscal from Rs 1,324.55 crore in 2023-24.
Signature Global has delivered 14.6 million sq ft of real estate so far.
Another 10.4 million square feet is under construction. PTI MJH BAL BAL
view comments
First Published:
July 20, 2025, 15:30 IST
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
18 minutes ago
- Indian Express
London-bound Air India Boeing 787-9 aborts takeoff at Delhi due to technical issue
Air India's Boeing 787-9 aircraft, which was to fly to London, aborted takeoff at the Delhi airport due to a technical issue on Thursday. 'Flight AI2017, operating from Delhi to London on July 31, returned to the bay due to a suspected technical issue. The cockpit crew decided to discontinue the takeoff run following standard operating procedures and brought the aircraft back for precautionary checks,' an airline spokesperson said in a statement to PTI. A source said the flight was to be operated with a Boeing 787-9 plane. 'An alternative aircraft is being deployed to fly the passengers to London at the earliest. Our ground staff is extending all support and care to the guests to minimise inconvenience caused due to this unexpected delay,' the statement said. Details about the number of passengers onboard could not be immediately ascertained.
Indian Express
21 minutes ago
- Indian Express
Hyderabad University Placement: Rs 46 lakh highest offer received, recruiters include TCS, Deloitte
The University of Hyderabad (UoH) concludes the placement season for 2024-25 session, with a staggering Rs 46 lakh per annum being the highest package offered — more than double last year's top offer of Rs 17.89 LPA. A total of 550 students were placed across 180 leading public and private sector organisations. The Rs 46 lakh per annum (LPA) offer was bagged by an MTech graduate from the School of Computer and Information Sciences. Top recruiters included global and national giants, like Tata Consultancy Services, Deloitte, Oracle, Teradata, Intel, Pegasystems, Exim Bank, Novartis, Accenture, Micron and General Electric. A wide range of sectors were represented, ranging from IT, analytics, and finance to education, consulting, and research. Educational institutions and foundations like Sri Prakash Institute, Aakash Institute, and the Azim Premji Foundation were also among the notable recruiters, reflecting the diverse career paths UoH graduates are choosing. Prof Chetan Srivastava, chairman of the Placement Guidance Advisory Bureau (PGAB), said: 'Despite a challenging job market, our students have excelled. The faculty, placement team, and coordinators worked tirelessly to expand our industry outreach and leverage alumni networks,' he said. He also extended his gratitude to the vice-chancellor Prof BJ Rao, Registrar Dr Devesh Nigam, and the university administration for supporting the process. Prerna Akhouri, training and placement coordinator, pointed out the shift in recruitment practices. 'Online platforms like Zoom and Google Meet became the norm. Despite some delays in in-person interviews, we managed excellent placements and are running upskilling programs and untargeted drives to benefit more students in the coming months.' With an open invitation to companies for future collaborations, the university is confident of scaling new heights in the years ahead. In a statement issued by the university in this regard, it said: 'If your organisation is interested in tapping into our pool of skilled and dedicated students, please reach out to us at: chairmanpgab@ or placementuoh@ or call Dr Chetan: 9866109681.'
Indian Express
21 minutes ago
- Indian Express
SC recalls verdict on liquidation of Bhushan Power and Steel, says ‘matter needs to be considered afresh'
The Supreme Court on Thursday recalled its May 2, 2025, judgment that ordered the liquidation of Bhushan Power and Steel Ltd (BPSL) after rejecting steel major JSW Steel Ltd's Rs 19,000 crore bid to acquire it through the Corporate Insolvency Resolution Process (CIRP) route. A bench of Chief Justice B R Gavai and Justice S C Sharma said it will consider the appeal challenging the resolution plan afresh. 'We…think that this is a fit case wherein the judgment under review needs to be recalled and the matter needs to be considered afresh. So needless to say that while we are allowing the review, we keep all the questions available to both parties open to be argued at the stage of hearing,' the bench said. A Supreme Court bench of Justices Bela M Trivedi and S C Sharma had on May 2 quashed and set aside the September 5, 2019, National Company Law Tribunal (NCLT) order and February 17, 2020, National Company Law Appellate Tribunal (NCLAT) order upholding JSW's resolution plan. It said, 'the Resolution Plan…as approved by the CoC (Committee of Creditors) stands rejected, being not in conformity with the provisions contained in sub-section (2) of Section 30, read with sub-section (2) of Section 31' of the Insolvency and Bankruptcy Code (IBC). Section 30 (2) deals with the resolution professional's duty to examine the resolution plans. Section 31(2) empowers the adjudicating authority (NCLT) to reject a resolution plan if it does not meet the requirements under IBC. Deciding a batch of appeals challenging the NCLAT decision, the Supreme Court said it was 'without any authority of law and without jurisdiction' and 'is perverse, coram non judice and liable to be set aside'. Exercising suo motu powers under Article 142, the court also directed NCLT to initiate liquidation proceedings against BPSL. Seeking its review, Solicitor General of India Tushar Mehta, appearing for the CoC, submitted that BPSL was in severe financial stress but had become 'healthy' after the acquisition and has about 25,000 workers. The May 2 ruling said that 'JSW even after the approval of its Plan by the NCLAT, wilfully contravened and not complied with the terms of the said approved Resolution Plan for a period of about two years, which had frustrated the very object and purpose of the IBC, and consequently had vitiated the CIR proceedings of the Corporate Debtor-BPSL.' Countering this, Solicitor General Mehta said this timeline, the violation of which was flagged as something serious, is extendable. He wondered, 'Suppose for some justifiable reason which cannot be attributed to the parties, the timeline is breached, would the breaking of the timeline be so fatal that a successfully implemented plan can be set aside and a direction be issued under 142 to liquidate a company which has been revived in these 5 years?' Mehta said the May 2 ruling also concluded that CoC did not exercise its commercial wisdom. To this, the CJI said, 'We have consistently held that it is not open for this court or NCLT or NCLAT to sit in appeal over the wisdom of CoC.' Senior Advocate N K Kaul, who appeared for JSW, said the judgment 'will have a devastating effect on IBC'. Urging the court to recall the order and hear it afresh, he said, 'There is clear, glaring, palpable error, statutory provisions and law have been ignored. Wrong facts have been taken into account which should not have been taken into account which were not argued or pleaded.' CJI Gavai orally remarked that 'prima facie, we are inclined to allow the review. We will give a full-fledged hearing, but prima facie it appears that the view is not in consonance with earlier settled decisions.' He added that while hearing it afresh, the court 'will not go into any other documents, just the judgment'. The bench also said it cannot overlook the fact that it involved the livelihood of about 25,000 workers and thousands of crores in investments. 'We also have to take into account the ground realities….25,000 people cannot be thrown onto the road. Article 142 has to be utilised to do complete justice, not to do injustice to 25,000 workers…The purpose of IBC is to make a company functional,' CJI Gavai added.
