Signature Global awards Rs 3.20 billion construction contract to ACC India

24 Sep 2024 CW Team

Gurugram-based real estate developer, Signature Global, has appointed ACC India to handle the civil, structural, and partial MEP work for all the towers, basements, and other ancillary buildings for its residential group housing project in Sector 84, Gurugram, Haryana.

According to the Letter of Intent (LOI) dated September 12, 2024, the total contract value is Rs 3.20 billion with the project scheduled for completion within 27 months from the commencement date, and a further 3 months allocated for the final handover of the work.

Lalit Aggarwal, Vice Chairman of Signature Global, expressed that the project would be one of their finest and a crowning jewel in their portfolio. He noted that it would span four and a half acres and be one of the tallest buildings in the area.

The company has delivered approximately 11 million square feet across its projects and more than 30,000 homes since its inception in 2014. Ani Ray, Managing Director of ACC India, highlighted that ACC has been involved in landmark projects such as Lodha Developers' World ONE in Mumbai (84 floors, 285 meters), Tata Housing & Keventers' 88 East Kolkata, and The 42 (62 floors, 255 meters), as well as ongoing projects in Delhi-NCR for DLF, TARC, Unity Group, and other major metros.

Signature Global holds a 36% market share in Gurugram's affordable and mid-housing sector. Supported by investors such as Nomura, HDFC, IFC, Standard Chartered, Bandhan MF, and Kotak, the company has a strong pipeline of approximately 32.2 million square feet of saleable area in upcoming projects and 16.4 million square feet in ongoing projects, which are set to be executed over the next 2-3 years.

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