Real estate company Signature Global is expecting at least a 2.5 times jump in its operational revenue to more than ₹3,000 crore in this fiscal on strong sales as well as completions of projects, its Chairman Pradeep Kumar Aggarwal said.
In an interview with PTI, he also exuded confidence that the company would easily surpass the pre-sales target of ₹10,000 crore and launches of ₹16,000 crore during the current fiscal year.
“The company’s performance in the first three quarters of this fiscal has been very strong across all major parameters like sales bookings, launches, collection from customers and deliveries,” Aggarwal said.
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He said the company would end the financial year 2024-25 on a strong note.
When asked about the revenue growth, Aggarwal said, “We had given a guidance of ₹3,800 crore worth of revenue recognition during the current fiscal year. Our operational revenue has already crossed ₹1,900 crore in the first nine months of this financial year. We are hopeful of a healthy growth in the fourth quarter as well.”
During the April-December period of this fiscal, Signature Global’s operational revenue has jumped 3.6 times to ₹1,977.58 crore from ₹546.19 crore in the corresponding period of the preceding year.
In 2023-24, the company’s operational revenue stood at ₹1,240.55 crore.
On operational performance, he said the company, which has a significant presence in Gururam’s residential market, has delivered 24.2 lakh sq ft area during the first nine months of this fiscal from 20 lakh sq ft in the year-ago period.
The collection of funds from customers has risen 54 per cent to ₹3,210 crore in the first nine months of this fiscal from ₹2,090 crore in the corresponding period of the preceding year.
- Also read: Signature Global sales bookings jump 2.8 times to ₹8,670 crore in Apr-Dec of FY25
Signature Global sold properties worth ₹8,670 crore during April-December period of this fiscal, registering a sharp rise from ₹3,120 crore in the year-ago period.
The company has set a target of achieving sales booking worth ₹10,000 crore in the current fiscal year as against ₹7,270 crore in the preceding year.
Signature Global has so far delivered 120 lakh sq ft of housing area and has a robust pipeline of 350 lakh sq ft of saleable area in its forthcoming projects, along with 158 lakh sq ft of ongoing projects.
The company has been buying land to expand its business amidst strong demand.