Signature Global's Bold Rs 2,200-Crore Investment in Gurugram Housing Expansion

Signature Global, a leading real estate firm, has announced a significant investment of Rs 2,200 crore into a new housing project in Gurugram, aiming to achieve more than 20% growth in pre-sales this fiscal year. This strategic move comes with the launch of 'Cloverdale', a premium residential project featuring 770 apartments on Southern Peripheral Road, Sector 71.

The company, ranked fifth in sales bookings last year with Rs 10,290 crore pre-sales, is targeting Rs 12,500 crore in the current fiscal. Homes in this new project are priced between Rs 4 crore and Rs 7 crore and form part of a larger 22-acre development expected to complete by 2031. Chairman Pradeep Kumar Aggarwal cited robust housing demand, particularly for reputed builders, as a key factor.

Additionally, Signature Global is planning to raise Rs 875 crore through non-convertible debentures to refinance debt and fuel business growth. With Rs 450 crore earmarked for debt refinancing, the company is preparing to ramp up construction investments to Rs 2,500 crore by 2025-26. This investment shift reflects a pivot towards mid-income and luxury housing segments due to high land costs in Gurugram.

(With inputs from agencies.)