By FY2025-26, NCR-based real-estate firm Signature Global aims to complete and deliver over 17 million sq ft of space across 28 different projects in Gurugram and Sohna with a projected revenue of Rs.110 billion. Its portfolio comprises 23 housing projects and five commercial and retail projects, with a focus on the mid-income and affordable segments. Next fiscal, the company is planning to launch projects in the premium housing segment spread across 8-10 million sq ft with a revenue potential of over Rs.120 billion. What is behind the company’s shift from affordable housing to premium projects? And will the company look at expansion in other geographies such as Mumbai? Pradeep Aggarwal, Founder & Chairman, Signature Global (India), answers these questions and more in conversation with R SRINIVASAN. Excerpts: Your company is perhaps the biggest player in the affordable housing category. So what factors, apart from growing affluence of the middle class, better purchasing power and higher aspirations, are behind the company’s shift to premium projects? At Signature Global, we are driven by the belief that everyone deserves to own their own home. Our company was founded with this mission in mind. To date, we have successfully launched over 30,000 housing units in the affordable segment, making us India’s largest affordable housing developer. A significant portion of these units has already been delivered, with most nearing completion. However, the dynamics of the real-estate market have evolved in recent years, with a notable increase in demand for larger homes equipped with modern amenities. This shift can be attributed to various factors, including improved affordability and the overall economic scenario. In Gurugram, where we have a significant presence, there is a high demand for properties priced between Rs.10 million and Rs.40 million. To cater to this demand, we recently introduced several projects in this segment, which were well received by homebuyers. That said, we remain committed to our focus on affordable and mid-segment housing projects. We will continue to launch projects in these categories based on market dynamics and demand trends. The company has sold 1,008 luxury flats for over Rs.36 billion, reflecting strong consumer demand despite the price rise. Affluent buyers are driving the demand for such purchases to 41 per cent. How do you leverage the fear-of-missing-out (FOMO) strategy to increase sales? The demand for projects situated in prime locations, featuring superior design, layout and amenities offered by reputable developers, is experiencing significant growth. Our recent project received over 3,000 applications for approximately 1,000 housing units, which is three times the number of units available. We were pleasantly surprised by the response. To meet this escalating demand, we are in the process of planning various projects, with approvals at various stages. It is our hope that we will be able to fulfil the needs of numerous aspiring homebuyers in the near future. You plan to launch projects in the premium housing segment spread across 8-10 million sq ft next fiscal. What prevents the company from looking at expansion in other geographies such as Mumbai? Being a vast country, India exhibits a substantial demand for housing across all regions. Particularly in the NCR, including areas surrounding Gurugram, there is a significant demand for various segments of housing projects, ranging from affordable to ultra-luxury. This demand is fuelled by ongoing infrastructure development and favourable economic conditions, with expectations for sustained growth. We anticipate a substantial scope for growth in tapping into this demand over the next few years. Additionally, entering new cities and states in the real-estate sector requires considerable effort and planning owing to its state-specific nature. Therefore, our current focus remains on leveraging opportunities within our core demographic areas, which possess immense potential for development. What green elements, such as solar, rainwater harvesting, etc, have been incorporated into your residential projects? Signature Global is committed to responsible development, prioritising sustainability and environmental consciousness in all our projects. As proud members of the Indian Green Building Council (IGBC), we have been honoured with the esteemed IGBC Green Championship award in 2021 for our contributions to the green affordable housing movement in India. Our projects boast either IGBC Gold rating certification or EDGE certification, demonstrating our dedication to environment-friendly practices. These green homes achieve significant savings in energy, water consumption and embodied energy with reductions of about 30, 50 and 35 per cent respectively. To mitigate air pollution and occupational exposures, we employ advanced measures such as air quality monitoring and the adoption of cleaner technologies at our construction sites. Additionally, our ISO certifications in quality management, environmental management and occupational health and safety underscore our commitment to sustainable construction practices and the well-being of our stakeholders. These initiatives reduce our carbon footprint and result in lower operational costs, providing our customers with a distinct advantage. Please elaborate upon plans in terms of affordable housing opportunities along the Yamuna Expressway, in mid-income housing in six to seven years, tall buildings along the Dwarka E-way and in temple towns. We have an extensive future pipeline of 28.4 million sq ft of saleable area, with upcoming launches planned in Gurugram Sector 71, Sector 84 and the region south of Gurugram (Sohna). These projects will also include launches on the Southern Peripheral Road, adjacent to the Golf Course Extension Road. By FY2025-26, we aim to complete and deliver over 17 million sq ft of space across 28 different projects in Gurugram and Sohna, with a projected revenue of Rs.110 billion. The portfolio comprises 23 housing projects and five commercial and retail projects with a focus on mid-income and affordable segments. Notably, our mid-housing and premium projects in Gurugram’s micro markets are expected to have a significant financial impact over the next three to five years. We plan to maintain a consistent pace of launches in our focused markets. However, we don’t foresee plans along the Yamuna Expressway and in the temple towns of India in the near future.