Signature Global Sells Over 1,000 Luxury Flats in Gurugram, Raking in Rs 3,600 Crore Amid Strong Demand

Real estate company Signature Global has successfully sold 1,008 luxury flats in its new housing project in Gurugram, generating a whopping Rs 3,600 crore in revenue. Despite a rise in prices, the robust consumer demand has exceeded expectations. Chairman Pradeep Aggarwal shared in an interview that the total sales bookings for the fiscal year are now expected to reach Rs 7,200 crore, surpassing the initial projection of Rs 4,500 crore.

In the interview, Aggarwal mentioned the launch of a new housing project, ‘DE LUXE-DXP’, in Sector 37D, Gurugram, on Dwarka Expressway. All 1,008 housing units in this 16.5-acre project were quickly sold out, showcasing the significant demand for premium homes in the Rs 3-4 crore price range. Notably, around 35% of the units were booked by Non-Resident Indians (NRIs) and senior executives of major corporations.

Signature Global anticipates delivering this housing project by 2028. The company recently reported “pre-formal launch sales of more than Rs 3,600 crores” to the stock exchanges. With this achievement, Signature Global is on track to exceed Rs 6,700 crore in sales, as the company has already achieved a 41% growth in sales bookings during the April-December period of this fiscal year.

The surge in housing demand is attributed to the post-COVID revival, primarily driven by end-users and investors. Aggarwal highlighted the increasing affluence in the middle class, leading to better purchasing power and higher aspirations. Modern consumers, according to him, seek a combination of features, amenities, space, and affordability to meet the demands of the new-age lifestyle.

In September of the previous year, Signature Global successfully launched its initial public offering, raising Rs 730 crore. The company, known for its focus on mid-income and affordable housing segments, has delivered 6.7 million square feet till December 2023. It is actively developing 16.9 million square feet and has a future pipeline of 28.4 million square feet of saleable area.