Signature Global raises Rs 400 cr from HDFC Capital's real estate fund

Realty firm Signature Global, which focuses on building affordable housing projects, on Wednesday said it has raised long term capital of Rs 400 crore from HDFC Capital realty fund.

The company raised this fund from HDFC Capital Affordable Real Estate Fund 3 (H-CARE 3), a fund managed by HDFC Capital.

The funding will be utilised for land acquisition and development of affordable housing projects in Haryana.

The company develops affordable housing projects under Haryana's affordable housing policy (HAHP) and independent floors under DDJAY (Deen Dayal Jan Awas yojana) affordable plotting policy.

Pradeep Aggarwal, Founder and Chairman of Signature Global, said: "We have strong credentials of providing value homes at affordable prices to our customers".

"As one of the leading players in affordable housing, our focus has been to build a strong foundation through which we can launch many more affordable housing projects in north India. HDFC Capital's investment is a significant achievement for us as it reposes faith in our execution capabilities," he added.

In the last 7-8 years, Signature Global has launched 30 housing projects, mainly in Gurugram, Sohna and Karnal (Haryana), and out of that, seven projects have already been delivered. The company has also launched commercial projects, including a shopping mall, in Vaishali and Ghaziabad (Uttar Pradesh).