Stock Soars on Land Acquisition News. |
Mumbai: Signature Global shares surged as much as 7.82 per cent on Friday, March 21, 2025, reaching an intraday high of Rs 1,201.80. The rise came after the company announced its acquisition of 8.39 acres of land in Sector 37D, Gurugram, near the Dwarka Expressway, for Rs 282.42 crore. The sale deed was executed on March 20.
Major Development Plans
Signature Global plans to develop approximately 2 million square feet on the newly acquired land. The company aims to launch a project by the end of the next financial year (2025-26), expecting to generate revenue of around Rs 3,200 crore.
Pradeep Aggarwal, Founder & Chairman of Signature Global, highlighted Gurugram’s booming real estate market, particularly along Dwarka Expressway. Citing a CREDAI-Colliers-LiasesForas report, he noted a record 58 per cent year-on-year surge in housing prices due to improved connectivity, infrastructure, and investment potential. Sector 37D, he added, is rapidly emerging as a prime investment hotspot.
Expanding Land Bank & Ongoing Projects
With this acquisition, Signature Global now holds a significant 45.1-acre land bank in Sector 37D, branded as DXP Estate. The company has already added 2.9 million square feet of saleable area in the region in the first nine months of FY25.
Construction is also progressing on its flagship project, ‘De-luxe DXP,’ located along Dwarka Expressway. In September 2024, Signature Global awarded a Rs 1,144 crore construction contract for the project to Ahluwalia Contracts (India) Ltd.
Strong Market Position
Signature Global has delivered 13.5 million square feet of residential space to date and has a development pipeline of approximately 46 million square feet for execution over the next 2-3 years.
Originally a key player in affordable housing, the company has expanded its focus to premium and mid-housing segments. It recorded sales bookings of Rs 7,270 crore in FY24, with a 62 per cent CAGR in sales from FY21 to FY24. For FY25, it targets Rs 10,000 crore in sales and Rs 3,800 crore in revenue recognition.
Market Performance
At 12:14 PM, Signature Global shares were trading 3.44 per cent higher at Rs 1,154.55, while the BSE Sensex was up 0.66 per cent at 76,850.94.
