Signature Global and RMZ Form 50:50 JV for Gurugram Project

03 Apr 2026 CW Team

As part of the agreement the parties executed a securities subscription and purchase agreement under which RMZ acquired the stake through a combination of share purchase and subscription for the aggregate consideration. The project will have a floor space of 3.94 mn square feet. The joint venture will leverage existing land holdings and construction capabilities to deliver the scheme in phases.

Upon completion the development is expected to have a total capital value of Rs 140–160 billion (bn) which places it among the larger mixed use projects in the region. This represents the company’s first large scale commercial real estate development within its existing land portfolio and marks a strategically significant milestone in portfolio diversification. The scheme is described as future ready with a focus on long term value creation for customers and stakeholders.

The joint venture will combine Signature Global’s execution and construction capabilities with RMZ’s experience in designing leasing and managing large commercial and mixed use developments. Signature Global holds a market share of 13 per cent in the National Capital Region and 20 per cent in Gurugram in the price range of Rs 20 mn to Rs 50 mn and has delivered 16.5 mn square feet to date. The company has a development pipeline of 21 mn square feet recently launched, 20.7 mn forthcoming and 13.8 mn under construction, and reported sales bookings of Rs 102.9 bn in FY25 with a compound annual growth rate of 58 per cent between FY22 and FY25. It has emphasised sustainability and governance, achieving a GRESB score of 84 and a perfect 100 in Leadership and Governance.

Signature Global (India) Ltd has agreed a transaction with RMZ to sell a fifty per cent stake in Gurugram Commercity Limited (GCL), a previously wholly owned subsidiary, securing an investment of Rs 12,930 million (mn). The capital infusion will result in a fifty:fifty joint venture to develop a large scale mixed use commercial complex on the Southern Peripheral Road in Gurugram. The development will include office space, hotels and retail components. As part of the agreement the parties executed a securities subscription and purchase agreement under which RMZ acquired the stake through a combination of share purchase and subscription for the aggregate consideration. The project will have a floor space of 3.94 mn square feet. The joint venture will leverage existing land holdings and construction capabilities to deliver the scheme in phases. Upon completion the development is expected to have a total capital value of Rs 140–160 billion (bn) which places it among the larger mixed use projects in the region. This represents the company’s first large scale commercial real estate development within its existing land portfolio and marks a strategically significant milestone in portfolio diversification. The scheme is described as future ready with a focus on long term value creation for customers and stakeholders. The joint venture will combine Signature Global’s execution and construction capabilities with RMZ’s experience in designing leasing and managing large commercial and mixed use developments. Signature Global holds a market share of 13 per cent in the National Capital Region and 20 per cent in Gurugram in the price range of Rs 20 mn to Rs 50 mn and has delivered 16.5 mn square feet to date. The company has a development pipeline of 21 mn square feet recently launched, 20.7 mn forthcoming and 13.8 mn under construction, and reported sales bookings of Rs 102.9 bn in FY25 with a compound annual growth rate of 58 per cent between FY22 and FY25. It has emphasised sustainability and governance, achieving a GRESB score of 84 and a perfect 100 in Leadership and Governance.

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