Signature Global acquires 20 acres land for a housing project in Gurugram with a revenue potential of ₹4,500 crore

Signature Global will be developing a housing project with a revenue potential of ₹4500 crore, the company said in a regulatory filing.

Published on: Feb 12, 2024, 14:09:28 IST

By HT News Desk

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Listed real estate company Signature Global has entered into a joint development agreement for a 20.32 acre land parcel in Gurugram’s Southern Peripheral Road and will be developing a housing project with a revenue potential of ₹4500 crore, the company said in a regulatory filing.

(File Pic) Listed real estate company Signature Global has entered into a joint development agreement for a 20.32 acre land parcel in Gurugram’s Southern Peripheral Road and will be developing a housing project (Picture for representational purpose only) (Photo by Parveen Kumar/Hindustan Times)

The development potential of the land parcel, located in Sector 71, is approximately 2.84 million square feet, it said.

Earlier, the company had signed three separate joint development agreements to develop group housing projects. The total size of the land parcels is 21.38 acres with a combined development potential of 3.22 mn sq ft and potential revenue realization of ₹5000 crore, the company had said.

Also Read: At least 97 land deals for more than 2700 acres closed across the country in 2023

Signature Global had recently reported a consolidated net profit of ₹2.17 crore for the quarter ended December.

The Gurugram-based company had launched its maiden public offer last year to raise ₹730 crore.

Signature Global has a portfolio of 17 million square feet of ongoing projects and more than 30 million square feet of forthcoming projects.

Also Read: Real Estate Budget 2024: Real Estate stocks tank after no big bang announcements

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HT News Desk
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