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Signature Global

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Signatureglobal (India) Ltd
Company typePublic
ISININE903U01023
GenreReal Estate
Founded2000
FounderPradeep Kumar Aggarwal
Headquarters
Gurugram, Haryana
,
India
Number of locations
Delhi-NCR
Area served
India
Key people
Lalit Kumar Aggarwal (Co-Founder)
Devender Aggarwal (Co-Founder)
Ravi Aggarwal (Co-Founder)
Rajat Kathuria (CEO)
RevenueIncrease ₹98.53 crore (US$12 million) (FY 2023) [1]
Decrease ₹−19.94 crore (US$−2.4 million) (FY 2023)
Total assets₹5,999.13 crore (US$720 million)
Websitewww.signatureglobal.in

Signature Global is a publicly-held real estate development company in India. It was established in 2014 and is headquartered in Gurgaon, Delhi.[2] It operates in the residential and commercial sectors and has developed projects in Delhi-NCR region.[3] In less than a decade, the company holds a market share of 14% in Delhi NCR & 36% in Gurugram in terms of Unit Supplied < INR 30MN.[4]

History

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The company began its operations in 2014 with the launch of the Solera project on 6.13 acres of land in Gurugram, Haryana, through its subsidiary, Signature Builders Private Limited.[5] Through the Government of India and state government regulations, they focused on the affordable housing segment and the middle-income housing segment.[6] In 2021, they became the first real estate company from Delhi NCR to receive EDGE (Excellence in design for greater efficiencies) given by International Finance Corporation.[7] All of the company's projects launched between financial year 2020 and financial year 2022 are either EDGE or IGBC certified.[8] As of March 2023 Signature Global had sold 27,965 residential and commercial units, all within the Delhi NCR region.[9] In September 2023, the company was listed on the Bombay Stock Exchange and National Stock Exchange of India.[10][11]

Backed by marquee equity investors like Nomura, HDFC and IFC, Signature Global practices corporate governance within the organization.[12] Over the years, the Company has expanded its operations, and as of March, 2024 it had delivered over 10.4 Million Sq. Ft., and has ongoing projects in 16.4 million square feet saleable area along with a forthcoming pipeline of 29.3 Million Sq.Ft. of Saleable area, all within the Delhi NCR region.[13]

The company has shown sales growth of 112% in FY 24 Vs. FY 23, and sales CAGR of 62% during FY21-24. Signature Global's projects are positioned in key locations in Delhi NCR and micro markets such as South of Gurugram (Sohna), Golf course extension road, Dwarka Expressway, Vaishali (Ghaziabad), and Karnal.[14]

Funding

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In May 2022, Signature Global raised ₹400 crore from HDFC Capital Affordable Real Estate Fund 3, which is managed by HDFC Capital.[15] Ahead of the IPO, in September 2023, they raised INR 318.5 crore ($43 million) from 19 anchor investors, including Morgan Stanley and Goldman Sachs.[16]

IPO

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On September 27, 2023, Signature Global debuted on the Indian stock Exchanges. The BSE listed its shares at ₹445.00 apiece, which was 15.58% more than the ₹385 issue price.[17] During the day, it increased by 22.97% to Rs 473.45. It eventually closed at Rs 458.40, up 19.06 percent. Also, 4.08 lakh shares of the firm were traded on the BSE and nearly 1.43 crore shares were traded on the NSE the same day.[18] The offer for sale (OFS) of up to 3,298,701 equity shares, totaling ₹127 crore by the promoter and prompter group, and a new issue of 15,662,338 shares totaling ₹603 crore constituted the ₹730 crore total issue size of the Signature Global IPO.[19] The IPO was well received by investors, with a total subscription of 11.88 times.[20] Notably, ordinary investors demonstrated interest, with a subscription rate of 6.82 times for their component, while the Non-Institutional Investors' (NII) category was oversubscribed by 13.54 times.[21]

Projects

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Signature Global's low-end projects include amenities such as recreational areas, gardens, open spaces, and community halls, while mid-housing projects feature gyms, recreational spaces, entertainment centres, swimming pools, and sporting facilities.[22] All the mid-housing projects incorporate a retail plaza to offer residents added convenience. All of company's projects are situated in the Delhi NCR region. They have also launched a few projects in numerous areas of Haryana, including Karnal, in addition to the Gurugram region, as part of the mid-housing category.[23] In addition, the company's subsidiary, Sternal Buildcon Private Limited, is working on an ongoing project called Infinity Mall. It's situated next to the company's mid-range and inexpensive home projects in Sohna. [24]

Green Development

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Signature Global has been following green and sustainable development by incorporating green building practices into its projects.[25] The company is an active member of the Indian Green Building Council (IGBC) and was honored with the IGBC Green Championship award in 2021 for its notable contributions to the Green Affordable Housing Movement in India. Notably, nine of Signature Global's projects have earned IGBC Gold ratings. Furthermore, its nine projects have received EDGE Certification, an internationally recognized green building certification.[26]

CSR

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Signature Global Foundation Trust is the humanitarian arm of Signature Global. Established under the provisions of the Indian Trust Act 1882 and under the leadership of Pradeep Kumar Aggarwal, Chairman and Whole-time Director, the foundation focuses on a wide areas.[27] The foundation is majorly working on Project Paathshala initiative in which they work on uplifting the facilities and school supplies available for kids studying in Government School.[28]

Awards and recognition

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Signature Global has garnered numerous awards and recognitions for its achievements in the real estate sector. Notably, the Department of Town & Country Planning, HRERA Gurugram, and HRERA Panchkula have honored the company for its on-time project deliveries.[29] Specifically, the projects Sunrise The Premium Floors under the DDJAY Policy and Solera under the Affordable Housing Policy received recognition for their punctual completion. These awards were presented by the Chief Minister of Haryana, Shri Manohar Lal Khattar.[30]

References

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  1. ^ "Signatureglobal-Report" (PDF). Retrieved 2023-11-28.
  2. ^ "IPO-bound Signature Global raises ₹318.5 crore from anchor investors". BusinessLine. 2023-09-19. Retrieved 2023-11-28.
  3. ^ "Signature Global to launch housing projects with Rs 8500 crore sales potential in FY23". Moneycontrol. 2023-11-10. Retrieved 2023-11-28.
  4. ^ Kumar, Nishant (2024-05-17). "Signature Global shares jump 229% in 8 months; Kotak upgrades the stock". mint. Retrieved 2024-06-25.
  5. ^ Haidar, Faizan (2023-09-17). "Signature Global plans to launch 21 million sq ft projects". The Economic Times. Retrieved 2023-11-28.
  6. ^ "Signature Global launches Rs 730 cr IPO; to use fund for debt reduction, biz expansion". The Indian Express. 2023-09-20. Retrieved 2023-11-28.
  7. ^ "Signature gets EDGE certificate from IFC". RealtynMore. 2021-06-24. Retrieved 2023-11-28.
  8. ^ "New Issue Monitor". Capital Market. 2023-09-17. Retrieved 2023-11-28.
  9. ^ "IPO-bound Signature Global's sales bookings up 32% to Rs 3,430 cr". Business News, Finance News, India News, BSE/NSE News, Stock Markets News, Sensex NIFTY, Union Budget 2023. 2023-09-17. Retrieved 2023-11-28.
  10. ^ Sen, Meghna (2023-09-27). "Signature Global's D-street debut: Shares list at a premium of 15% over IPO price". cnbctv18.com. Retrieved 2023-11-28.
  11. ^ "Signature Global makes strong debut as shares lists 15% higher than IPO price". India Today. 2023-09-27. Retrieved 2023-11-28.
  12. ^ "Signature Global raises Rs 318.5 crore from anchor investors ahead of public issue". ETRealty.com. 2023-09-19. Retrieved 2024-06-25.
  13. ^ "Signature Global's Q4 sales bookings touch ₹4,140 crore; FY24 pre-sales grow 112% to ₹7270 crore". Hindustan Times. 2024-04-07. Retrieved 2024-06-25.
  14. ^ Haidar, Faizan (2024-05-15). "Signature Global reports 112% growth in pre-sales". The Economic Times. Retrieved 2024-06-25.
  15. ^ Nandy, Madhurima (2022-05-04). "Signature Global raises ₹400 crore from HDFC Capital". mint. Retrieved 2023-11-28.
  16. ^ Matkar, Sunil Shankar (2023-09-19). "Ahead of IPO, Signature Global mobilises Rs 318 crore from anchor investors". Moneycontrol. Retrieved 2023-11-28.
  17. ^ "Signature Global makes healthy debut in weak market, lists at 16% premium". Business News, Finance News, India News, BSE/NSE News, Stock Markets News, Sensex NIFTY, Union Budget 2023. 2023-09-27. Retrieved 2023-11-28.
  18. ^ "Signature Global shares jump 19% in debut trade". ETRealty.com. 2023-09-28. Retrieved 2023-11-28.
  19. ^ "Signature Global shares debut with nearly 16% premium". BusinessLine. 2023-09-27. Retrieved 2023-11-28.
  20. ^ Matkar, Sunil Shankar (2023-09-20). "Issue booked 54% on day one, retail portion subscribed 89%". Moneycontrol. Retrieved 2023-11-28.
  21. ^ Nagasundaram, Dhanya (2023-09-22). "Signatureglobal India IPO subscribed over 11 times on day 3; check details". mint. Retrieved 2023-11-28.
  22. ^ Sharma, Ankit (2023-10-24). "Signatureglobal (India) acquires 25.75 acres land in Gurugram". ETRealty.com. Retrieved 2023-11-28.
  23. ^ Mishra, Ashish (2023-09-15). "Signature Global to develop 21 msf of affordable, mid-income housing in 6-7 years". Moneycontrol. Retrieved 2023-11-28.
  24. ^ https://www.icra.in/Rationale/ShowRationaleReport?Id=117073. Retrieved 2023-11-28. {{cite web}}: Missing or empty |title= (help)
  25. ^ "Green Homes initiative: A commitment towards eco-friendly living". Construction Week India. 2023-07-03. Retrieved 2024-06-25.
  26. ^ "Signature Global (India) Limited and CEEW deploy a Pilot Air Quality Monitoring Network in Gurugram to manage construction dust". ANI News. 2023-05-03. Retrieved 2024-06-25.
  27. ^ "Gurugram: Govt school students get winter items under project 'Paathshala'". Daijiworld.com. 2023-12-20. Retrieved 2024-01-10.
  28. ^ "Signature Global Foundation Paathshala Initiative In Gurugram". Realty Plus Magazine. 2023-12-19. Retrieved 2024-01-10.
  29. ^ Pr, Ani (2023-10-27). "Signature Global Park II Receives Prestigious "Best Residential Project in the Mid Segment" Award". ThePrint. Retrieved 2024-01-06.
  30. ^ "Signature Global awarded as Real Estate Company of Year Pradeep Aggarwal honored as Real Estate Person of the Year". ANI News. 2022-09-26. Retrieved 2024-01-06.
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