Signature Global to launch homes worth Rs 6,000 cr in Gurugram in Jul-Sep: Chairman
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
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.During the April-June quarter, the company reported a 15 per cent decline in sales bookings to Rs 2,640 crore from Rs 3,120 crore in the year-ago period.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.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Deccan Herald
26 minutes ago
- Deccan Herald
Most migrants from Bihar unaware of SIR portal, finds survey
Conducted among 338 workers, the survey found that 75% earn less than Rs 17,000 a month, and 68% lacked accurate information on required documents.
Time of India
2 hours ago
- Time of India
Robust tourism helps excise dept boost revenue by 45% since 2022
Panaji : Goa's excise department has seen a significant jump in revenue, with a 45% increase over the last four financial years. The department raked in Rs 947.9 crore in 2024-25, as against Rs 650 crore in 2021-22. This increase is attributed to robust tourist footfalls and enforcement by the department. Goa's excise collection shot up to Rs 865 crore in 2022-23 due to several measures implemented by the excise department. In 2023-24, the department's revenue increased to Rs 900.2 crore. Goa's excise revenue is largely driven by tourists who either purchase alcohol from retail stores or consume liquor at restaurants and hotels. Alcohol sales are also driven by events in the state. Data shared with the legislative assembly also shows that Rs 4.1 crore is owed to the department by 242 retail outlets, bars and alcohol manufacturers since 2018. Of the 242 defaulters, most are from Tiswadi and Salcete talukas. While some of the licence holders have come forward and cleared their dues, the department has been forced to issue notices to most of the excise licence holders to recover what is owed. Those outlets which have ignored notices and reminders to pay the annual audit fees risk having their licences being cancelledwith the department already proposing to cancel some licences">, said officials. In the Goa budget 2023-24, the excise duty on high-end liquor was reduced and duty on other categories of Indian made foreign liquor (IMFL) was marginally increased to shore up revenues. The department said that while no tax refund or waiver has been granted under the Excise Duty Act, applicants have been offered an adjustment of excise duty only in cases where permits are cancelled and the said excise duty paid for liquor goods in these cancelled permits are adjusted in their future permits.
Time of India
2 hours ago
- Time of India
Govt owes tourism contractors over Rs 39.7cr with bills from 2019
Panaji : From housekeeping services and painting to legal fees and translations, the tourism department has racked up Rs 39.7 crore in unpaid bills. Contractors for events, vehicles and executed projects have been fretting with their money lying locked up with the tourism department as well as the Goa Tourism Development Corporation (GTDC), with some of the bills dating all the way back to 2019. Among those that the department owes money are govt entities such as Goa Human Resource Development Corporation Limited and Goa Electronics Limited. The tourism department's 17 outstanding bills are largely for tourism roadshows and trade fairs, and most are for the current year with just two bills dating back to Dec 2024. However, GTDC's track record of clearing bills of contractors and event management firms is not on par. The Goa Human Resource Development Corporation Ltd provided security services at GTDC residencies for 2019-20 for which it billed GTDC Rs 1.03 crore, an amount that remains unpaid, shows data released in the state legislative assembly. Invoices towards the organisation of the Manohar Parrikar Vidnyan Mahostav in Dec 2021 worth Rs 3.7 lakh also remain unpaid. Taxi bills worth Rs 8.65 crore remain unpaid, shows the data released in the state legislative assembly. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Emergency Generators in Sevilla: (Prices May Surprise You) Emergency Generator | Search Ads Search Now Undo Information provided by the department also shows that Rs 4.4 crore has to be released to a private firm for development of amenities at the Bom Jesus Basilica under the PRASHAD Scheme. GTDC said that many of these bills are 'under consideration' and will be cleared once scrutiny and approval is obtained. Bills for the G20 meetings, which were held in Goa, also remain unpaid. Goa hosted several G20-related meetings during India's presidency in 2023, including the G20 Tourism Working Group Meeting and the Tourism Ministers' Meeting.
