Signature Global eyes new launches worth ₹8,500 crore over next four months
Rajat Kathuria, CEO of recently-listed realty firm, Signature Global, talked about the project pipeline and future plans of the company.
Delhi-based realty firm, Signature Global, plans new launches worth ₹8,500 crore over the next four months. Most projects are in the mid-income category.
Rajat Kathuria, CEO of the recently-listed Signature Global told CNBC-TV18 the company aims to develop over 17 million square feet (MSF) by the end of financial year 2026, with an expected revenue recognition of approximately ₹12,000 crore..
Kathuria highlighted that pre-sales have doubled between financial years 2021 and 2023. In the first half of the current financial year, pre-sales totaled ₹1,860 crore.
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Despite the diverse product segments, including affordable, mid-income, and luxury housing, Kathuria said the demand remains robust across the board.
Shares of Signature Global debuted on the stock market on September 27 at at ₹445 per share, a premium of 15.58% over the issue price of ₹385. On the NSE, it listed at a 15.32% premium at ₹444 per share.
The company said it would utilise the proceeds from the fresh issue of equity shares towards debt repayment, infusion of funds in certain subsidiaries, inorganic growth through land acquisitions and general corporate purposes.
The real estate firm’s gross debt stood at ₹1,700 crore and net debt was at ₹1,100 crore as of FY23.
Kathuria said net debt target for this year is at ₹1,000 crore.
For the entire interview, watch the accompanying video
(Edited by : Shweta Mungre)
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