Signatureglobal (India) Reports Rs 60.79 million Profit in Q1 FY25
Real Estate

Signatureglobal (India) Reports Rs 60.79 million Profit in Q1 FY25

Signatureglobal (India) reported a net consolidated profit after tax of Rs 60.79 million for the quarter ending June 30, 2024. This compares to a net loss after tax of Rs 70.18 million for the same quarter of the previous fiscal year, as stated in a BSE filing by the company.

The company's net consolidated total income for Q1 FY25 was Rs 4.27 billion, marking a significant growth of 139.23 per cent from Rs 1.78 billion recorded in the corresponding quarter last year.

Pradeep Kumar Aggarwal, the chairman and wholetime director of the company, indicated that the company had already achieved 30 per cent of its annual pre-sales target within the first quarter. He also mentioned plans to launch several projects in the upcoming quarters, which is expected to enhance their operational targets.

The board of directors appointed Gaurav Malik as the chief financial officer and key managerial personnel, effective August 8, 2024. Additionally, Manish Garg was re-designated as the deputy chief financial officer, effective from the same date.

For the quarter, the company achieved pre-sales of Rs 31.2 billion in Q1 FY25, reflecting a year-on-year growth of 255 per cent. Collections for Q1 FY25 increased by 102 per cent to Rs 12.1 billion, compared to Rs 6 billion in Q1 FY24.

The company's net debt decreased to Rs 9.8 billion by the end of Q1 FY25, down from Rs 11.6 billion at the end of FY24.

Signatureglobal (India) reported a net consolidated profit after tax of Rs 60.79 million for the quarter ending June 30, 2024. This compares to a net loss after tax of Rs 70.18 million for the same quarter of the previous fiscal year, as stated in a BSE filing by the company. The company's net consolidated total income for Q1 FY25 was Rs 4.27 billion, marking a significant growth of 139.23 per cent from Rs 1.78 billion recorded in the corresponding quarter last year. Pradeep Kumar Aggarwal, the chairman and wholetime director of the company, indicated that the company had already achieved 30 per cent of its annual pre-sales target within the first quarter. He also mentioned plans to launch several projects in the upcoming quarters, which is expected to enhance their operational targets. The board of directors appointed Gaurav Malik as the chief financial officer and key managerial personnel, effective August 8, 2024. Additionally, Manish Garg was re-designated as the deputy chief financial officer, effective from the same date. For the quarter, the company achieved pre-sales of Rs 31.2 billion in Q1 FY25, reflecting a year-on-year growth of 255 per cent. Collections for Q1 FY25 increased by 102 per cent to Rs 12.1 billion, compared to Rs 6 billion in Q1 FY24. The company's net debt decreased to Rs 9.8 billion by the end of Q1 FY25, down from Rs 11.6 billion at the end of FY24.

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?