Real estate company Signature Global announced a 47% surge in its sales bookings, reaching Rs 12.62 billion in the third quarter of the current fiscal year, driven by robust housing demand. This marks a significant increase from the Rs 8.56 billion reported in the same period last year. The company, as per regulatory filings, disclosed the sale of 1,179 units in the October-December period, compared to 1,089 units in the corresponding period of the previous year.
In terms of volume, the sale bookings expanded to 1.31 million square feet in the third quarter, up from 1.10 million square feet in the year-ago period. For the April-December 2023-24 period, Signature Global achieved a 41% growth in sales bookings, reaching Rs 31.24 billion, as opposed to Rs 22.09 billion in the same period last year. The company sold 3,135 units during the first nine months of the fiscal year, slightly higher than the 3,113 units sold in the previous year.
In volume terms, the sale bookings recorded a 9% increase to 3.2 million square feet from 2.94 million square feet in April-December of this fiscal year compared to the year-ago period.
In the 2022-23 financial year, Signature Global reported the sale of 4,512 units, generating Rs 34.30 billion in revenue. The corresponding volume was 4.35 million square feet. In an interview with PTI in November, Signature Global Chairman Pradeep Aggarwal had anticipated sales bookings of Rs 45 billion for the entire 2023-24 financial year.
Signature Global, which successfully launched its IPO in September last year, raised Rs 7.3 billion. The IPO, consisting of a fresh issue of shares worth Rs 6.03 billion and an Offer for Sale (OFS) of Rs 1.27 billion, was oversubscribed 11.88 times. Backed by equity investors like HDFC and IFC, Signature Global has delivered over 6 million square feet of area and has ongoing projects covering 17.21 million square feet. Additionally, the company has a forthcoming pipeline of 27 million square feet of saleable area.
