Realty firm Signature Global has reduced its net debt by 16% during the June quarter, bringing it down to Rs 9.8 billion, thanks to improved cash flows driven by strong sales in its housing projects. According to the company's latest investor presentation for the June quarter, its net debt stood at Rs 9.8 billion as of June 30, 2024, compared to Rs 11.6 billion at the close of the previous financial year. The company stated its intention to maintain net debt below 0.5 times the projected operating surplus for the current financial year as part of its long-term financial discipline. Signature Global's total income for the April-June quarter of the 2024-25 fiscal year increased significantly, reaching Rs 4.27 billion, up from Rs 1.78 billion during the same period the previous year. Pradeep Kumar Aggarwal, Chairman and Whole-Time Director, noted that the company achieved 30% of its annual pre-sales target within the first quarter alone. Sales bookings for Signature Global surged to Rs 31.2 billion during this period, compared to Rs 8.8 billion in the corresponding quarter of the previous year. Aggarwal mentioned plans to launch several new projects in the upcoming quarters, which are expected to further enhance the company's operational targets. In the 2023-24 financial year, Signature Global recorded sales bookings of Rs 72.7 billion and has set an ambitious target of Rs 100 billion for the current fiscal year. Based in Gurugram, Signature Global has so far delivered 11 million square feet of area and has a pipeline of approximately 32.2 million square feet of saleable area in upcoming projects, along with 16.4 million square feet in ongoing projects. The company went public in September last year, raising Rs 7.3 billion through an Initial Public Offering (IPO). Shares were initially offered at Rs 385 each and were listed at Rs 444 per share. As of Friday, the company's share price closed at Rs 1,417.50 on the BSE. Originally focused on affordable housing, Signature Global has now expanded into mid-income, premium, and luxury residential segments, with most of its projects located in Gurugram. The company is also exploring land opportunities in Noida and Greater Noida.