Signature Global acquires 20 acres land for a housing project in Gurugram


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)
(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.

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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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