The demand for real estate has shown resilience in the second quarter and the ongoing season is poised to drive sales further up, said Rajat Kathuria, chief executive officer of Signature Global India Ltd.
The company has posted pre-sales of Rs 2,780 crore in the second quarter of the financial year 2024–25, showing a growth of 184% from the year-ago period.
While discussing the Q2 numbers, Kathuria told NDTV Profit that there is a supply constraint in the industry with such huge demands.
“There is a lot of supply constraint and we are just trying to fulfill the huge demand. There is no softening in demand,” he said.
Signature Global witnessed good traction in one of its projects in Sohna, garnering a huge response within 10 days of its launch, the CEO said.
“If you look at the Sohna project, we would have crossed the last quarter’s sales performance in a month. But given that we have entered the festive season, we feel that a lot of sales will continue to happen this quarter as well,” he said.
Kathuria pointed out that the company has witnessed good demand for its newly-launched projects across the board.
“If you look at the start of this calendar year, from January, we are almost nearing the Rs 3,000 crore per quarter sales. We are seeing a consistent trend in the market,” he said.
Signature Global Q2 Updates: Reports Highest Ever Rs 5,900 Crore Pre-Sales For H1FY25
Signature Global’s collections have always grown in tandem with its pre-sales, the top executive said.
He maintained that the company will achieve the targets set for FY25. “We are very confident about our pre-sales and collections target this year of Rs 10,000 crore and Rs 6,000 crore that we should be able to achieve our targets for the entire fiscal year,” Kathuria explained.
He highlighted that the company had already achieved 60% of its pre-sales guidance for the year.
Shares of Signature Global India surged 4% to touch an intraday high of Rs 1,594 apiece on the NSE against its previous close of Rs 1,532.35.
The shares closed Wednesday's session 0.82% higher at Rs 1,544.95 a piece on the NSE, outperforming benchmark Nifty 50 that ended trading 0.12% lower.
Signature Global Gives Rs 1,144-Crore Order To Ahluwalia Contracts. Read more on Real Estate by NDTV Profit.