Signature Global reports 113.92 Percent growth in Q1FY24 pre-sales at INR 8,797.8 million
New Delhi, October 12th, 2023: Signature Global (BSE: 543990 | NSE: SIGNATURE), amongst the leading real estate development companies in India with a well-established brand in Delhi-NCR focusing on affordable and mid-housing segments, today announced its unaudited financial results for the first quarter ended on June 30th, 2023 (Q1FY24) and the KPI numbers for Q1FY24 and H1FY24. The information mentioned in this release is based on consolidated financial statements.
OPERATIONAL HIGHLIGHTS
For H1 FY24:
- Pre-sales for H1FY24 grew 37.57% to INR 18,613.95 million as against INR 13,530.10 million in H1FY23
- The company reported 64.92% growth in H1FY24 collections at INR 13,274.58 million
- Sales realization grew to approx. INR 9,800 per sq. ft. from approx. INR 7,425 per sq. ft. in H1FY23
- Net Debt reduced to INR 3,699.67 million from INR 10,938.92 million at the end of FY23
Commenting on the company’s performance, Mr. Pradeep Kumar Aggarwal, Chairman and Whole-Time Director, said “It is truly a pleasure to present our Q1FY24 performance for the first time since our listing. I want to extend my heartfelt gratitude to our shareholders for their unwavering support and trust in our vision. 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 INR 9,800 per sq. ft. This is likely to reflect positively in the financial performance of the second quarter. The collections too for the company have grown nearly 65% in H1FY24 showcasing the significantly robust financial position of the Company.
(INR Million)
| Particulars | Q1FY24 | Q1FY23 |
| Revenue from Operations | 1,658.59 | 5,420.85 |
| Profit / (Loss) after Tax | (71.80) | 327.87 |
| Adjusted Gross Profit Margin | 34.33% | 26.91% |
| Adjusted EBITDA Margin | 9.53% | 18.21% |
AWARDS & RECOGNITIONS
- Real Estate Company of the Year (North) in Construction Week India Awards 2023
- Best Affordable Housing Project award for ‘The SERENAS’ Project in RICS Awards 2023
- Developer of the Year (Metro) in NAREDCO Times Realty Conclave Icons 2023
- Real Estate Green Building Leadership Award at Hurun India’s Most Respected Real Estate Leadership Summit 2023