Signature Global Acquires 25.75 Acres in Gurugram

25 Oct 2023 CW Team

This development follows closely on the heels of Signature Global's highly successful Initial Public Offering (IPO), which aimed to mobilise Rs 7.30 billion in capital. The public issue encompassed a fresh issuance of shares valued at Rs 6.03 billion and an additional Offer For Sale (OFS) component amounting to Rs 1.27 billion, achieving a remarkable subscription rate of 11.88 times.

The latest acquisition and robust IPO performance underline Signature Global's burgeoning presence in the real estate market. Notably, the company has witnessed a substantial 38 per cent growth in sales bookings during the first half of this fiscal year, accumulating Rs 18.61 billion in sales. This impressive surge in demand can be attributed to the rising popularity of the company's affordable and mid-income residential projects, a testament to its commitment to providing quality housing solutions.

To put this into perspective, in the corresponding period last year, Signature Global's sales bookings stood at Rs 13.53 billion, highlighting the remarkable growth and trust the company has garnered from homebuyers.

Signature Global, further bolstered by the support of marquee equity investors such as HDFC and IFC, has a commendable track record of delivering over 6 million square feet of constructed real estate. Their ongoing projects cover an impressive 17.21 million square feet, demonstrating their commitment to expanding and enriching the residential real estate landscape in India. The recent land acquisition is yet another stride forward in their mission to create innovative and accessible housing solutions for a wide spectrum of homebuyers.

Leading realty firm, Signature Global, has made a strategic move by securing a substantial 25.75-acre land parcel in Gurugram for the development of an expansive group housing project. In a recent regulatory filing, the company revealed its successful acquisition but kept both the deal value and the seller's identity confidential. This sizeable land parcel presents an enticing opportunity, with an approximate total developable area of a staggering 3.25 million square feet. This development follows closely on the heels of Signature Global's highly successful Initial Public Offering (IPO), which aimed to mobilise Rs 7.30 billion in capital. The public issue encompassed a fresh issuance of shares valued at Rs 6.03 billion and an additional Offer For Sale (OFS) component amounting to Rs 1.27 billion, achieving a remarkable subscription rate of 11.88 times. The latest acquisition and robust IPO performance underline Signature Global's burgeoning presence in the real estate market. Notably, the company has witnessed a substantial 38 per cent growth in sales bookings during the first half of this fiscal year, accumulating Rs 18.61 billion in sales. This impressive surge in demand can be attributed to the rising popularity of the company's affordable and mid-income residential projects, a testament to its commitment to providing quality housing solutions. To put this into perspective, in the corresponding period last year, Signature Global's sales bookings stood at Rs 13.53 billion, highlighting the remarkable growth and trust the company has garnered from homebuyers. Signature Global, further bolstered by the support of marquee equity investors such as HDFC and IFC, has a commendable track record of delivering over 6 million square feet of constructed real estate. Their ongoing projects cover an impressive 17.21 million square feet, demonstrating their commitment to expanding and enriching the residential real estate landscape in India. The recent land acquisition is yet another stride forward in their mission to create innovative and accessible housing solutions for a wide spectrum of homebuyers.