Signature Global expects 31 percent growth in sales bookings in FY 2023-24
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Real estate company Signature Global expects 31 per cent annual growth in its sales bookings to Rs 4,500 crore in the current financial year 2023-24 on the back of better housing demand.
Gurugram-based Signature Global had secured sales bookings of Rs 3,430.58 crore in 2022-23, up 32 per cent from the previous year. “We have done pre-sales worth Rs 1,861 crore in the first six months of this financial year, which is higher than last year,” Signature Global Chairman Pradeep Aggarwal said in an interview to PTI. 38 percent more. ,
When asked on sales booking for the entire financial year, he said, “We are expecting sales booking of Rs 4,500 crore for the entire financial year.” Aggarwal said this is due to increase in prices as well as interest on home loans. Despite this, demand for affordable and middle-income housing remains strong.
He said that to take advantage of this increase in demand, the company is planning to launch some big projects during the second half of this financial year. Aggarwal said the company wants to acquire land directly and through joint ventures to develop housing projects in the future.
“The business is generating operating surplus and this will support growth,” he said. Aggarwal said the initial public offering (IPO) proceeds have significantly reduced debt levels. Signature Global had launched an IPO in September to raise Rs 730 crore, which was successful.,
However, the company recently reported a consolidated net loss of Rs 19.92 crore in the second (July-September) quarter of this financial year 2023-24. It had incurred a net loss of Rs 59.25 crore in the same period of the last financial year.
Total income declined to Rs 121.16 crore in the July-September period of financial year 2023-24. It was Rs 135.68 crore in the same period last year. The total expenditure declined to Rs 144.84 crore, which was Rs 223.33 crore in the same period a year ago.
Disclaimer: IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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