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Signature Global Q2 Earnings, Launches Housing Projects With Rs 8,500 Crore Sales Potential

The company reported a net loss of Rs 19.92 crore for the quarter under review.

Realty firm Signature Global has announced its earnings for the July-September quarter of the current fiscal year.

The company reported a net loss of Rs 19.92 crore for the quarter under review, which is a reduction from the Rs 59.22 crore net loss the company reported in the same quarter of the previous fiscal year.

The revenue from operations saw a marginal decrease to Rs 121.16 crore for the quarter from Rs 135.68 crore reported in the year-ago quarter.

However, the total expense of the company saw a significant decline to Rs 144.84 crore during the quarter from Rs 223.33 crore reported in Q2FY23.

In its regulatory filing, the company has also announced that it has entered into a definitive agreement to acquire a 100% stake in Gurugram Commercity Pvt Ltd for an enterprise value of Rs 500 crore. Gurugram Commercity Pvt Ltd owns 25.14-acre land in Sector 71 Gurugram.

In a separate filing, the company also said that it is planning to launch a new group of housing projects that have a sales potential of Rs 8,500 crore in the current fiscal year. These new projects are to be built along the Dwarka Expressway and Southern Peripheral Road in Gurugram.

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