Signature Global Eyes ₹35,000 Crore Free Cash Flow with RMZ Partnership in Gurugram
NEW DELHI: Signature Global, under the leadership of Chairman and Whole-Time Director Pradeep Kumar Aggarwal, expects to generate approximately ₹35,000 crore in free cash flow from its existing and planned portfolio. The company is expanding its focus beyond residential real estate into commercial real estate through a partnership with RMZ, a leading player in the sector.
In an exclusive interview with Ankit Sharma, Aggarwal highlighted the company’s strategic move into Gurugram’s Grade A office market. The partnership with RMZ is expected to create a robust platform for large-scale office developments. Aggarwal emphasized that the company’s strong financial position, with net debt expected to move close to zero after the transaction, provides the necessary room to create long-term income-generating assets alongside its residential business.
Aggarwal also noted that despite some near-term softness in the housing market following a sharp rise in prices, Signature Global continues to see robust demand visibility in the National Capital Region (NCR). The company plans to launch projects worth ₹40,000-50,000 crore over the next three years, with a focus on execution, delivery, and asset creation.
When asked about the decision to enter commercial real estate and partner with RMZ, Aggarwal explained that the demand for commercial space has evolved, with a clear preference for integrated developments. The Southern Peripheral Road area in Gurugram, with its connectivity to major infrastructure projects, is emerging as a key commercial hub. Signature Global and RMZ have formed a joint platform with a leasable potential of around 5.5 million square feet, with RMZ acquiring a 50% stake and investing approximately ₹1,283 crore.
RMZ brings established expertise in Grade A office development, complementing Signature Global’s strengths in residential real estate. The partnership is seen as a gateway to explore other cities and segments, such as retail and hospitality, within mixed-use developments. However, the immediate focus remains on institutional-quality office assets, where demand from large occupiers and global capability centers has significantly increased.
The entry of developers from South India and Western India into the NCR market has brought healthy competition, but Aggarwal believes that NCR still has limited branded competition compared to markets like Mumbai and Bengaluru. The region’s unique advantage as a broader Central Business District (CBD) for North India, coupled with strong land availability and infrastructure, makes it an attractive market for both housing and commercial development.
Signature Global’s performance in FY26 has been strong, with presales crossing ₹10,000 crore in the previous year and around ₹7,000 crore in the first three quarters of the current year. While the market may experience temporary adjustments due to affordability pressures, Aggarwal is confident in the company’s long-term prospects. The focus is now on sustainable growth and delivery, with an expected annual growth rate of around 15%.
The company’s current portfolio, which includes around 15 million square feet of delivered projects and another 50-60 million square feet in various stages of development, provides significant revenue and free cash flow visibility of around ₹35,000 crore. This strategic move into commercial real estate, along with a strong balance sheet and low net debt, positions Signature Global to create a robust long-term asset base while continuing to grow in the residential market.
