Signature Global Targets Rs 5000 Crore Revenue from Luxury Housing in Gurugram

Signature Global, a prominent real estate firm, is poised to launch a luxury housing project in Gurugram, aiming to generate an estimated revenue of Rs 5,000 crore. The project is part of the company's broader strategy to capitalize on the growing demand for high-end residential spaces in the National Capital Region (NCR).

The company, led by Chairman Pradeep Aggarwal, is confident about achieving its revised sales bookings target of Rs 10,300 crore for the current fiscal year. This target was initially set at Rs 12,500 crore but was revised downwards due to a softening in housing demand in Gurugram.

Construction activities, which were temporarily halted in the December quarter due to high pollution levels, have now resumed at full speed. Signature Global anticipates a significant increase in revenue recognition during the January-March period. The company's robust construction progress is a testament to its commitment to delivering high-quality projects on time.

Signature Global owns 25 acres of land along the Southern Peripheral Road in Gurugram, where it plans to develop a large mixed-use project. Out of this, 7 acres will be dedicated to a branded luxury housing project, while the remaining 18 acres will be used for office, retail, and hospitality spaces. The luxury residential project is expected to have a total saleable area of 20 lakh square feet, with a revenue potential of Rs 5,000 crore.

Aggarwal stated, 'We will come up with a branded luxury residential project on a 7-acre land parcel with a total saleable area of 20 lakh square feet. The total revenue potential is estimated at Rs 5,000 crore.' The company is currently in talks with leading hospitality chains to collaborate on the project, which is expected to be launched for sale in the next 5-6 months.

The demand for branded homes is strong across major cities, and Gurugram is no exception. The city's strategic location and robust infrastructure make it an attractive destination for luxury housing developments. Signature Global's project is expected to meet the growing demand for premium living spaces in the region.

To further solidify its presence in Gurugram, Signature Global has formed a joint venture with Bengaluru-based RMZ Group for the development of the remaining 18 acres of land. The commercial project, with a total investment of around Rs 7,500 crore, will have a leasable area of 55 lakh square feet. This includes 35 million square feet of prime office space, as well as retail spaces and two hotels.

Under the joint venture, Signature Global subsidiary firm Gurugram Commercity Ltd (GCL) and RMZ entity Millennia Realtors have entered into a Securities Subscription and Purchase Agreement (SSPA). RMZ will acquire a 50% equity stake in GCL through a combination of share purchase and share subscription, for an aggregate consideration of up to Rs 1,283 crore.

Signature Global has a strong track record in the real estate sector, having delivered 16.5 million square feet of property, primarily in Gurugram. The company is currently building several housing projects across various micro-markets of the city, cementing its position as a key player in the local real estate market.

In the fiscal year 2024-25, Signature Global sold properties worth Rs 10,290 crore. Despite the downward revision in the current fiscal's sales target, the company remains optimistic about its future prospects. The launch of the luxury housing project and the joint venture with RMZ Group are significant milestones in Signature Global's journey to becoming a leading real estate developer in Gurugram and beyond.