Signature Global to invest ₹1,500 cr in buying land; plans Noida entry

Bengaluru: Property developer Signature Global is planning to purchase land for ₹1500 crore this year, as it looks to expand in its core market of Gurugram, and enter Noida in the National Capital Region (NCR).

The developer will buy land through outright transactions as well through auctions conducted by the Noida Development Authority, founder and chairman Pradeep Aggarwal said. 

Signature Global, which had launched its first residential project at Sector 107 in Dwarka Expressway, in 2014, raised ₹730 crore through an initial public offering (IPO) in September 2023. 

In FY24, it recorded pre-sales of ₹7270 crore. For FY25, it has given a pre-sales guidance of ₹10,000 crore on the back of a strong launch pipeline of projects. 

“The company expects an operating surplus of over ₹2500-3000 crore in the current financial year. A portion of this surplus will be used to reduce debt, and we plan to invest around ₹1,500 crore to purchase land. This investment will help replenish our land bank,” Aggarwal said.

Its net debt as on 30 June was ₹980 crore. 

The company is exploring growth opportunities with a focus on the Delhi-NCR region. Aggarwal said beyond Gurugram, it sees tremendous potential in Noida.

“…We would explore buying land from the Noida Authority as the title of such land will be clear without any encumbrance. When we enter the Noida market, we will be looking to develop projects at scale, similar to the way we have done in Gurugram,” he added. 

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To achieve its sales bookings target, Signature Global aims to sell 4,000 residential units this fiscal, costing an average of ₹2-2.5 crore per unit. 

The Delhi-NCR property market has seen a turnaround in the aftermath of the pandemic. After a multi-year slowdown in the residential sector in particular, both home sales and prices have picked up significantly. 

Launch pipeline

Signature Global is planning to launch a 130-acre project in Sohna this year, targeting the middle-income segment. The mixed-use development project is estimated to have revenue potential of over ₹5000 crore. 

For FY25, it has given an ambitious project launch guidance of ₹16,000 crore. 

Signature Global started with affordable housing projects costing ₹15-30 lakh. In 2020, it ventured into mid-income housing priced at ₹45 lakh and above. In 2024, it launched its first two premium projects- Deluxe– DXP at Dwarka Expressway, Gurugram and Titanium SPR at Southern Peripheral Road, Gurugram. Both projects, that were priced at ₹3.5-5.5 crore saw good sales. 

“Going forward, our focus will be on mid-income and premium projects. Gurugram is an aspirational market today and our premium projects saw huge response from young professionals, entrepreneurs as well as non-resident Indian buyers (NRI). However, even in the premium segment, we are launching projects that are competitively priced,” Aggarwal said. 

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Apart from Sohna, the developer also has a considerable land bank in Sector 71, on the Southern Peripheral Road and Dwarka Expressway where it will launch projects. 

Aggarwal said Signature Global has appointed Boston Consulting Group to advise on the sales processes and pace of construction to ensure timely delivery.