Realty firm Mark Worldwide will contribute around Rs 2,500 crore this monetary on the development of its different lodging projects, its Executive Pradeep Kumar Aggarwal said on Wednesday. He expressed optimism that the company would achieve the sales bookings guidance of Rs 10,000 crore for the upcoming fiscal year 2024–25, a significant increase from Rs 7,270 crore the year before.
“Across all of our projects, the construction work has been accelerated. On the sidelines of the Assocham real estate conference, Aggarwal stated, “We will be investing approximately Rs 2,500 crore during this financial year on pure construction activities.” He stated that this fiscal year, the company anticipates collecting Rs 6,000 crore from customers.
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He added that the company would also make use of the extra internal cash flow to reduce debt and acquire land. He said, “We are looking for land in the markets of Noida and Delhi for the development of housing projects,” and the company plans to start projects in these two new cities in 2025 and 2026.
Due to high demand for its housing projects, Signature Global reported on Sunday a 3.5-fold increase in sales bookings to Rs 3,120 crore for the April-June quarter. In the previous year, the company’s sales bookings totaled Rs 820 crore.
Signature Global sold 968 units in the first quarter of this fiscal year, compared to 894 units sold in the same period last year, according to a regulatory filing. From 0.91 million square feet a year earlier, its sales bookings more than doubled to 2.03 million square feet.
According to Signature Global, the company achieved strong pre-sales and collection figures for the third consecutive quarter and continues to ride a high growth trajectory. 10.4 million square feet of housing space have been delivered by Signature Global, which became listed on stock exchanges. It has approximately 32.2 million square feet of saleable area in its upcoming projects and 16.4 million square feet in its ongoing projects in its robust pipeline.
One of India’s leading real estate developers, Signature Global, was founded in 2014 and initially focused solely on affordable housing projects. The organization has extended its presence into mid-pay, premium and extravagance lodging fragments.
