Signature Global Q3 Sales Bookings Plunge 27% Amid Sluggish Demand
Overview
Realty firm Signature Global reported a 27% year-on-year decline in sales bookings to ₹2,020 crore for the fiscal third quarter ending December. The Gurugram-based developer sold 408 units, down from 1,518 in the prior year, with total area booked falling to 1.44 million sq ft. The company cited delayed project launches and a sluggish Gurugram market, despite festive demand, but maintained its full-year sales guidance.
Q3 Sales Bookings Drop Sharply
Signature Global posted a 27 percent decrease in its sales bookings for the quarter ended December, bringing the total to ₹2,020 crore. This marks a significant decline compared to the ₹2,770 crore achieved in the same period of the previous year, a period typically characterized by strong housing demand due to festive celebrations.
Unit Sales and Area Decline
The Gurugram-based developer reported selling just 408 units during the October-December period of the current fiscal year. This figure represents a sharp contrast to the 1,518 units sold in the year-ago quarter. Correspondingly, the total area covered by these sales bookings fell from 2.49 million sq ft to 1.44 million sq ft.
Market Challenges and Company Outlook
While Signature Global did not provide explicit reasons for the downturn, industry observers point to the late launch of a major housing project on the Dwarka Expressway as a potential factor. Furthermore, the Gurugram real estate market has been experiencing sluggish demand, exacerbated by substantial price increases observed post-COVID-19 pandemic.
Full-Year Target Remains Ambitious
Despite the quarterly dip, Signature Global maintains its fiscal year guidance of ₹12,500 crore in sales bookings for FY25-26. Chairman Pradeep Kumar Aggarwal expressed confidence, highlighting sustained demand in their core micro-markets and positive customer response to new premium projects like Sarvam at DXP Estate. To achieve its yearly target, the company must generate approximately ₹6,000 crore in sales during the current quarter. The company had previously achieved sales bookings of ₹10,290 crore in the last fiscal year.
