Signature Global Reduced Its Net Debt By 16% to Rs 980 Crore in June Quarter

                NEW DELHI: Realty firm Signature Global has reduced its net debt by 16% to Rs 980 crore in the June quarter, driven by robust cash flows from strong property sales. The company's 
net debt as of June 30, 2024, stands at Rs 980 crore, down from Rs 1,160 crore at the end of the last financial year.
In its latest investor presentation, Signature Global outlined its goal to maintain net debt below 0.5 times the projected operating surplus for the ongoing financial year as a long-term 
discipline.
Signature Global also reported a consolidated net profit of Rs 6.76 crore for the June quarter, a turnaround from a net loss of Rs 7.22 crore in the same period last year. Total income 
surged to Rs 427.98 crore in April-June 2024-25, up from Rs 178.90 crore in the corresponding period of the previous year.
Pradeep Kumar Aggarwal, Chairman and WholeTime Director, stated, "In the first quarter itself, we have achieved 30% of our annual pre-sales target." The company's sales bookings 
jumped to Rs 3,120 crore in the first quarter, compared to Rs 880 crore in the year-ago period. Signature Global aims to achieve sales bookings of Rs 10,000 crore for the fiscal year, up 
from Rs 7,270 crore in 2023-24.
The company plans to launch several new projects in the coming quarters, which is expected to boost operational targets. Signature Global has delivered 11 million square feet of area 
and has a pipeline of approximately 32.2 million square feet of saleable area in forthcoming projects, along with 16.4 million square feet in ongoing projects.
Since its IPO in September last year, which raised Rs 730 crore with shares initially offered at Rs 385 each and listed at Rs 444, Signature Global's shares have climbed to Rs 1,417.50 
on the BSE, giving the company a market capitalization of nearly Rs 20,000 crore.
Initially focused on affordable housing, Signature Global has expanded into mid-income, premium, and luxury residential segments. Most of its projects are based in Gurugram, with plans 
to explore land opportunities in Noida and Greater Noida.


Source : The Economic Time