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Realty company Signatureglobal (India) announced H1FY24 results:
Pre-Sales:
1. Signatureglobal achieved its best-ever H1FY24 pre-sales performance, with a total pre-sales value of Rs 18,613.95 million.
2. The number of units sold in H1FY24 was 1,956.
3. The total sales area in H1FY24 was approximately 1.90 million square feet.
4. The growth rate in pre-sales for H1FY24 compared to H1FY23 was 37.57%.
Sales Realization:
1. Sales realization improved significantly from approximately Rs 7,425 per square foot in H1FY23 to approximately Rs 9,800 per square foot in H1FY24.
Collections:
1. Total collections for H1FY24 amounted to Rs 13,274.58 million.
2. The growth rate in collections for H1FY24 compared to H1FY23 was 64.92%.
Net Debt:
1. Net debt reduced from Rs 10,938.92 million at the end of FY23 to Rs 3,699.67 million at the end of H1FY24.
"We are pleased to report our outstanding operational performance in H1FY24, achieving record pre-sales and collections. Our focus on delivering quality projects at affordable prices has contributed to our strong sales realization. Additionally, the reduction in net debt reflects our commitment to financial prudence and efficient management. We remain optimistic about the future and will continue to strive for excellence in the real estate sector." - Ravi Aggarwal, Managing Director, Signatureglobal (India).
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