SignatureGlobal India reports pre-sales of Rs 31.2 billion in Q1 FY25

08 Jul 2024 CW Team

SignatureGlobal (India) has reported pre-sales of Rs 31.2 billion in Q1 FY25, reflecting a year-on-year growth of 255%. This achievement represents more than 30% of the FY25 pre-sales target of Rs 100 billion.

In Q1 FY25, the company?s collections grew by 102% to Rs 12.1 billion. Additionally, net debt decreased by 16%, dropping to Rs 9.8 billion at the end of Q1 FY25 from Rs 11.6 billion at the end of FY24.

Pradeep Kumar Aggarwal, Chairman and Wholetime Director commented, "This fiscal year, we have set an ambitious target of achieving Rs 100 billion in pre-sales. In the first quarter alone, we have already surpassed 30% of this target."

The average sales realisation increased to Rs 15,369 per square foot in Q1 FY25 compared to Rs 11,762 per square foot in FY24. However, this figure is expected to normalise to a lower level with the planned launches in the mid-income housing segment during the year.

(Source: ETRealty)

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