Signature Global reports 113.92% growth in pre-sales at Rs 879.78 crore in Q1 FY24, ET RealEstate

October 12, 2023

NEW DELHI: Signature Global has witnessed growth of 113.92% in pre-sales at Rs 879.78 crore in Q1 FY24. It recorded a increase of 37.57% in Pre-sales to Rs 1,861.39 crore in for H1 FY24 as against Rs 1,353.01 crore in H1 FY23, the company said in a BSE filing.

Pradeep Kumar Aggarwal, chairman and whole-time director, said “We are delighted to share that we have been able to reduce our net debt significantly in the second quarter following funds raised through initial public offer (IPO). The first half (H1FY24) has been truly remarkable in terms of our operational performance with our pre-sales growing 37% and sales realization reaching Rs 9,800 per sq. ft. The collections too for the company have grown nearly 65% in H1FY24 showcasing significantly robust financial position of the company.”

The company reported 64.92% growth in collections at Rs 1,327.45 crore in H1 FY24 while its sales realization grew to approximately Rs 9,800 per sq. ft. from about Rs 7,425 per sq. ft. in H1 FY23.

Its net debt reduced to Rs 369.96 crore from Rs 1,093.89 crore at the end of FY23.

Revenue from operation decreased to Rs 165.85 crore in Q1 FY24 from 542.08 crore in Q1 FY23 due to no new occupation certificate (OC) received in this quarter, it said in the regulatory filing.

It registered loss after tax of Rs 7.18 crore in Q1 FY24 as compared to profit after tax of 32.78 crore in Q1 FY23. Adjusted Gross Profit margin improved to 34.33% in Q1 FY24 as compared to 26.91% in Q1 FY23.

  • Published On Oct 12, 2023 at 05:58 PM IST

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