March 4, 2024
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Signature Global aims Rs12,000 crore projects
NCR-based listed real estate firm, Signature Global, is planning to launch projects in the premium housing segment spread across an area of around 8 to 10 mn sq ft next fiscal with a revenue potential of more than Rs.12,000 to Rs.13,000 crore, Pradeep Kumar Aggarwal, founder and chairman, Signatureglobal (India) Limited told.
“These projects will be launched on land parcels that have either been bought or are under joint development agreements. These projects are expected to have a sales potential of more than Rs.12,000 to Rs.13,000 crore,” he said.
The listed real estate firm has sold around 1,000 luxury flats in its new housing project Deluxe-DXP located at Sector 37 D in Gurugram, along the soon-to-be opened Dwarka Expressway, for over Rs.3600 crore. The cost of land acquisition and construction is likely to be around Rs.2200 crore.
“These units were sold through a digital platform created by Boston Consulting Group and were fully sold out within 48 hours,” he said, adding the project was oversubscribed 5.4 times.
He said that the project comprises 1008 premium housing units of 2600 sq ft. These would be spread across eight towers and priced between Rs.3 to Rs.4 crore. The project will have only one phase. It is expected to have seven swimming pools and two clubs of 40,000 sq ft each. It is expected to have one basement and two podium level parkings, similar to projects in Mumbai.
As for demand, the company has received bookings from homebuyers across the country, right from Gurugram, Delhi, Ranchi, Chandigarh, Uttar Pradesh to Jammu and Kashmir, he said.
“With this new launch, the company will be exceeding the guidance of ?4,500 crore this financial year generating close to ?3600 crore from the latest premium residential launch,” said Aggarwal.
The company has a total project pipeline of 31 mn sq ft of which is is planning to launch close to around 8 to 10 mn sq ft next fiscal.
