Business Standard

Signature Global buys 26 acre land in Gurugram to build housing project

This land parcel has the overall potential developable area of about 3.25 million square feet, the company said

Real Estate, Realty sector, Construction, Realty

Press Trust of India New Delhi

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Realty firm Signature Global on Monday said it has acquired 25.75 acre land in Gurugram to develop a group housing project.
The company did not disclose the deal value and the name of the seller.
In a regulatory filing, Signature Global said the "company has entered into a Sale Deed for acquiring a land parcel admeasuring approximate 25.75 acres located at village Fazilpur, Gurugram, Haryana, for development of a group housing project."

This land parcel has the overall potential developable area of about 3.25 million square feet, it added.
Last month, Signature Global successfully launched its Initial Public Offering (IPO) to raise Rs 730 crore.
The public issue, comprising a fresh issue of shares worth Rs 603 crore and an Offer For Sale (OFS) component of Rs 127 crore, was subscribed 11.88 times.
Realty firm Signature Global has reported a 38 per cent growth in sales bookings at Rs 1,861.39 crore in the first six months of this fiscal year, on better demand for its affordable and mid-income residential projects.
Its sales bookings stood at Rs 1,353 crore in the year-ago period.
Signature Global, which is backed by marquee equity investors like HDFC and IFC, has delivered over 6 million square feet and has ongoing projects in 17.21 million square feet area.
It has a pipeline of 21.29 million square feet of saleable area.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Oct 23 2023 | 11:27 PM IST

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