Signature Global: Is There More Steam Left in This Multibagger Real Estate Stock?
Signature Global shares rose 4.1% to Rs 1512.70, with a market capitalization of over Rs 21,000 crore. The stock has rallied 300% from its IPO price.
Signature GlobalReal EstateStock MarketMultibaggerMotilal Oswal Financial ServicesIcici SecuritiesKotak Institutional EquitiesReal Estate NewsAug 13, 2024
ICICI Securities is also positive on the stock following a strong show in the June 2024 quarter. Kotak Institutional Equities believes that the company is growing from strength to strength.
Signature Global reported a consolidated net profit of Rs 6.76 crore for the quarter ended June on higher income. The company had posted a net loss of Rs 7.22 crore in the year-ago period. Realty firm's total income rose 140% on a yearly basis to Rs 427.98 crore in April-June 2024 period.
The company projects sales of Rs 10,000 crore in this fiscal. Signature Global has so far delivered 11 million square feet of housing area and boasts a robust pipeline of about 32.2 million square feet of saleable area in forthcoming projects along with 16.4 million sq ft of ongoing projects, set for execution over the next 2-3 years.
Signature Global reported a strong 63% CAGR in pre-sales over FY21-24, driven by an increase in projects under execution and premiumization. As it gears up with a strong launch pipeline of premium projects, we expect it to deliver 35% CAGR in bookings over FY24-27E as the growth momentum remains intact, said Motilal Oswal in its IC report on the stock.
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Frequently Asked Questions
What is Signature Global's current market capitalization?
Over Rs 21,000 crore
What is Signature Global's projected sales for this fiscal?
Rs 10,000 crore
What is Signature Global's current target price according to Motilal Oswal Financial Services?
Rs 2,000
What is Signature Global's sales booking growth rate according to ICICI Securities?
19% CAGR over FY24-27E
What is Signature Global's net debt according to Kotak Institutional Equities?
Rs 980 crore
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