 "real estate")
The company has set a sales bookings target of Rs 10,000 crore for this fiscal.
Realty firm Signature Global’s net debt has come down by 16 per cent in June quarter to Rs 980 crore on better cash flows amid strong sales in its housing projects.
In its latest investor presentation for the June quarter, the company informed that its net debt stood at Rs 980 crore as on June 30, 2024, as against Rs 1,160 crore at the end of the last financial year.
“The company aims to keep net debt below 0.5 times of the projected operating surplus for the ongoing financial year, as a long term discipline,” the presentation said.
Earlier this week, Signature Global reported a consolidated net profit of Rs 6.76 crore for the quarter ended June on higher income.
The company had posted a net loss of Rs 7.22 crore in the year-ago period.
Total income rose to Rs 427.98 crore in April-June of 2024-25 fiscal from Rs 178.90 crore in the corresponding period of the previous year.
During the first quarter of this fiscal, Signature Global’s sales bookings jumped to Rs 3,120 crore from Rs 880 crore in the year-ago period.
“We are planning to launch a few projects over coming quarters and this is likely to boost our operational targets,” Aggarwal had said.
In 2023-24, Signature Global achieved sales bookings of Rs 7,270 crore.
The company has set a sales bookings target of Rs 10,000 crore for this fiscal.
Gurugram-based Signature Global has so far delivered 11 million square feet of area. The company has a pipeline of about 32.2 million square feet of saleable area in the forthcoming projects along with 16.4 million sq ft of ongoing projects.
Signature Global got listed in September last year after raising Rs 730 crore through Initial Public Offer (IPO).
In the maiden public issue, the company offered shares at Rs 385 apiece. The shares got listed at Rs 444 apiece.
On Friday, the company’s share price closed at Rs 1,417.50 a piece on the BSE.
The market capitalisation of the company is nearly Rs 20,000 crore.
Initially, Signature Global was developing only affordable housing projects. Now, it has ventured into mid-income, premium and luxury residential segments.
Geographically, most of its projects are in Gurugram. However, the company is looking for lands in Noida and Greater Noida.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Aug 10 2024 | 1:10 PM IST
 "India reiterates opposition to China’s Belt and Road Initiative at SCO meet | External Affairs Defence Security News")
 "Trade deficit eases to $20.8 bn in Sept amid geopolitical challenges | Economy & Policy News")
