NEW DELHI, Feb 9: Realty firm Signature Global has successfully reduced its net debt by 29% in the October-December quarter, bringing it down to Rs 720 crore, thanks to strong pre-sales and customer collections.
At the end of the second quarter of this fiscal year, Signature Global’s net debt was Rs 1,020 crore.
In its latest operational update, the company reported that its net debt decreased by 38% to Rs 720 crore as of December 31, 2024, down from Rs 1,160 crore at the conclusion of the 2023-24 financial year.
Customer collections surged by 54% to Rs 3,210 crore during the first nine months of this fiscal year, a significant increase over Rs 2,090 crore during the same period last year.
During the April-December period of this fiscal year, Signature Global achieved property sales worth Rs 8,670 crore, a marked increase from Rs 3,120 crore in the previous year.
The average pre-sales realization from April to December 2024-25 rose to Rs 12,565 per square foot, compared to Rs 11,762 per square foot for the entirety of the 2023-24 fiscal year.
Signature Global aims to achieve sales bookings of Rs 10,000 crore in the current fiscal, up from Rs 7,270 crore in the last fiscal year.
Chairman Pradeep Kumar Aggarwal expressed optimism last month that the company would comfortably reach its pre-sales targets.
To date, Signature Global has delivered 12 million square feet of residential space and has a robust pipeline of 35 million square feet of upcoming projects, in addition to 15.8 million square feet of ongoing work.
The firm is actively acquiring land to enhance its business operations amidst strong demand.
Recently, the company acquired 16.12 acres of land in Gurugram for approximately Rs 300 crore to develop a housing project spanning 27-28 lakh square feet.
They are also looking to expand their presence in the Noida and Greater Noida markets within the Delhi-NCR region.
Furthermore, the company is open to taking over stalled housing projects and completing them. (PTI)
