Construction - Real Estate · Founded 2000 · www.signatureglobal.in · BSE 543990 · NSE SIGNATURE · ISIN INE903U01023
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Business
Signatureglobal (India) Ltd. is a real estate development company primarily focused on the affordable and mid-income housing segments in the National Capital Region (NCR) of India, predominantly in Gurugram, Haryana. The company develops residential projects (apartments, plots), commercial projects (retail, office spaces), and mixed-use developments. Its core business model involves acquiring land, obtaining necessary approvals, undertaking construction through third-party contractors, and marketing/selling units directly to end-users and investors. Revenue is primarily generated from the sales of these developed properties, often collected in stages based on construction progress or through upfront bookings.
Revenue Mix
Signatureglobal's primary segment is real estate development. While specific revenue breakdowns are not publicly detailed, its portfolio is significantly skewed towards residential developments, particularly within the affordable and mid-income categories, as mandated by government housing schemes in Haryana. Commercial and mixed-use projects constitute a smaller but growing portion of its development pipeline, complementing its residential offerings, mainly within the same integrated townships.
Industry
The Indian real estate industry is highly fragmented, with a mix of large national players, regional developers, and local builders. Signatureglobal operates predominantly in the NCR, a competitive market characterized by high demand for housing, driven by urbanization and economic growth. The company has carved a niche for itself in the affordable and mid-segment housing, particularly under the Haryana Affordable Housing Policy and Deen Dayal Jan Awas Yojna (DDJAY) policies. This positioning allows it to target a large customer base seeking budget-friendly housing solutions, differentiating it from luxury or premium developers. It stands as a prominent developer within this specific segment in the NCR.
MOAT
Niche Focus & Execution: Strong track record and expertise in delivering affordable and mid-income housing projects within government policy frameworks (e.g., Haryana Affordable Housing Policy), which have specific cost and timeline requirements. This operational efficiency within the niche is a key strength.
Brand Recognition: Established brand identity within the affordable housing segment in the NCR, fostering trust and repeat customers in this specific market.
Land Bank Strategy: Strategic acquisition of land parcels suitable for affordable and mid-income projects in high-growth corridors of Gurugram and surrounding areas, which provides a pipeline for future development.
Process & Approvals: Experience in navigating the complex regulatory and approval processes specific to affordable housing schemes.
Growth Drivers
Affordable Housing Demand: Continued strong demand for affordable and mid-income housing driven by urbanization, rising disposable incomes, and the aspirations of a young population.
Government Support: Favorable government policies and incentives for affordable housing, such as interest subsidies (PMAY), tax benefits, and specific state-level affordable housing policies that reduce land costs and simplify approvals.
NCR Infrastructure Development: Ongoing and planned infrastructure development in the NCR (e.g., expressways, metro extensions) enhances connectivity and attractiveness of Signatureglobal's project locations.
Formalization of Real Estate: Increased transparency and regulation (RERA) are benefiting organized and compliant developers like Signatureglobal, consolidating market share.
Expansion within NCR: Ability to expand its project pipeline and launch new phases or projects in developing areas within Gurugram, Sohna, and other parts of the NCR.
Risks
Interest Rate Sensitivity: High interest rates can impact homebuyer affordability and increase financing costs for developers, slowing sales.
Regulatory & Policy Changes: Changes in real estate regulations, environmental norms, or affordable housing policies by state or central governments can significantly impact project viability and timelines.
Land Acquisition & Approvals: Delays or difficulties in acquiring new land parcels or obtaining timely regulatory approvals can lead to project delays and cost overruns.
Economic Slowdown: A general economic downturn can reduce consumer confidence, impacting property demand and sales velocity.
Construction Risks: Dependence on third-party contractors introduces risks related to quality, cost escalation, and timely project completion.
Competition: Intense competition from other established and new developers in the NCR affordable and mid-income housing market.
Management & Ownership
Signatureglobal is promoted by a group of experienced professionals in the real estate sector. The company's promoters, including Pradeep Kumar Aggarwal, Lalit Aggarwal, and Ravi Aggarwal, have significant experience in real estate development, particularly in the NCR region. The management team focuses on leveraging its understanding of the affordable and mid-income housing segment to drive growth and operational efficiency. The ownership structure includes significant promoter holding, with a portion of shares publicly traded after its IPO.
Outlook
Signatureglobal is well-positioned to capitalize on the sustained demand for affordable and mid-income housing in the rapidly urbanizing NCR. Its established brand, execution track record within government policy frameworks, and strategic land bank provide a foundation for continued growth. The company stands to benefit from ongoing infrastructure development and government support for housing. However, the real estate sector is inherently cyclical and sensitive to interest rates, economic conditions, and regulatory changes. Competition in the NCR is robust, and the company's ability to consistently acquire land at favorable terms and execute projects efficiently will be crucial. While its niche focus offers some insulation from premium market volatility, it remains susceptible to broader market and regulatory headwinds.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
| #(Fig in Cr.) | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 282 | 694 | 401 | 749 | 828 | 520 | 866 | 338 | 284 | 1107 |
| Other Income | 20 | 28 | 27 | 28 | 34 | 50 | 33 | 34 | 28 | 88 |
| Total Income | 302 | 723 | 428 | 777 | 862 | 570 | 898 | 373 | 313 | 1195 |
| Total Expenditure | 289 | 674 | 402 | 761 | 814 | 477 | 832 | 413 | 348 | 1051 |
| Operating Profit | 13 | 48 | 26 | 17 | 48 | 94 | 66 | -40 | -35 | 144 |
| Interest | 5 | 8 | 7 | 17 | 14 | 13 | 13 | 13 | 17 | 17 |
| Depreciation | 6 | 6 | 5 | 7 | 8 | 8 | 8 | 8 | 8 | 9 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1267 |
| Profit Before Tax | 2 | 35 | 13 | -7 | 26 | 73 | 46 | -62 | -60 | 1386 |
| Provision for Tax | -0 | -7 | 6 | -11 | -3 | 12 | 11 | -15 | -14 | 233 |
| Profit After Tax | 2 | 41 | 7 | 4 | 29 | 61 | 34 | -47 | -45 | 1152 |
| Adjustments | -0 | -0 | -0 | -0 | -0 | -0 | -0 | 0 | 0 | -0 |
| Profit After Adjustments | 2 | 41 | 7 | 4 | 29 | 61 | 34 | -47 | -45 | 1152 |
| Adjusted Earnings Per Share | 0.2 | 2.9 | 0.5 | 0.3 | 2.1 | 4.3 | 2.4 | -3.3 | -3.2 | 82 |
| #(Fig in Cr.) | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|
| Net Sales | 242 | 82 | 901 | 1554 | 1241 | 2498 | 2595 |
| Other Income | 21 | 73 | 38 | 32 | 84 | 140 | 183 |
| Total Income | 263 | 155 | 940 | 1586 | 1325 | 2638 | 2779 |
| Total Expenditure | 278 | 163 | 986 | 1547 | 1268 | 2454 | 2644 |
| Operating Profit | -15 | -9 | -46 | 39 | 56 | 184 | 135 |
| Interest | 55 | 71 | 70 | 73 | 30 | 52 | 60 |
| Depreciation | 5 | 12 | 21 | 22 | 22 | 27 | 33 |
| Exceptional Income / Expenses | 0 | -5 | 0 | 0 | 0 | 0 | 1267 |
| Profit Before Tax | -75 | -97 | -136 | -57 | 4 | 105 | 1310 |
| Provision for Tax | -17 | -11 | -21 | 7 | -12 | 4 | 215 |
| Profit After Tax | -57 | -86 | -116 | -64 | 16 | 101 | 1094 |
| Adjustments | -1 | 0 | -1 | -0 | -0 | -0 | 0 |
| Profit After Adjustments | -58 | -86 | -116 | -64 | 16 | 101 | 1094 |
| Adjusted Earnings Per Share | -5.1 | -7.6 | -10.2 | -5.1 | 1.2 | 7.2 | 77.9 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 101% | 40% | 59% | 0% |
| Operating Profit CAGR | 229% | 0% | 0% | 0% |
| PAT CAGR | 531% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -37% | NA% | NA% | NA% |
| ROE Average | 15% | 7% | 4% | 3% |
| ROCE Average | 6% | 3% | -0% | -1% |
| #(Fig in Cr.) | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Shareholder's Funds | -93 | -207 | -352 | 48 | 627 | 727 |
| Minority's Interest | 11 | 11 | 6 | 3 | 3 | 3 |
| Borrowings | 471 | 841 | 779 | 1299 | 1298 | 1545 |
| Other Non-Current Liabilities | 42 | 26 | 24 | -95 | -136 | -153 |
| Total Current Liabilities | 2436 | 2995 | 3860 | 4623 | 6510 | 10532 |
| Total Liabilities | 2867 | 3667 | 4317 | 5877 | 8303 | 12654 |
| Fixed Assets | 69 | 104 | 110 | 77 | 72 | 114 |
| Other Non-Current Assets | 202 | 152 | 172 | 134 | 168 | 162 |
| Total Current Assets | 2596 | 3411 | 4035 | 5665 | 8038 | 12378 |
| Total Assets | 2867 | 3667 | 4317 | 5877 | 8303 | 12654 |
| #(Fig in Cr.) | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 130 | 139 | 245 | 236 | 639 | 611 |
| Cash Flow from Operating Activities | 73 | 36 | 205 | -278 | 92 | 501 |
| Cash Flow from Investing Activities | -72 | -26 | 54 | 8 | -489 | 46 |
| Cash Flow from Financing Activities | 8 | 97 | -269 | 673 | 368 | 141 |
| Net Cash Inflow / Outflow | 9 | 107 | -10 | 403 | -28 | 687 |
| Closing Cash & Cash Equivalent | 139 | 245 | 236 | 639 | 611 | 1298 |
| # | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -5.07 | -7.56 | -10.23 | -5.12 | 1.15 | 7.19 |
| CEPS(Rs) | -4.61 | -6.54 | -8.33 | -3.33 | 2.7 | 9.15 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | -8.18 | -18.18 | -30.96 | 3.81 | 44.6 | 51.72 |
| Core EBITDA Margin(%) | -15.13 | -99.18 | -9.37 | 0.4 | -2.22 | 1.77 |
| EBIT Margin(%) | -8.13 | -31.72 | -7.42 | 1.06 | 2.8 | 6.28 |
| Pre Tax Margin(%) | -30.84 | -118.73 | -15.14 | -3.65 | 0.36 | 4.21 |
| PAT Margin (%) | -23.61 | -105.11 | -12.81 | -4.1 | 1.32 | 4.05 |
| Cash Profit Margin (%) | -21.72 | -90.71 | -10.52 | -2.67 | 3.06 | 5.15 |
| ROA(%) | -1.99 | -2.64 | -2.89 | -1.25 | 0.23 | 0.97 |
| ROE(%) | 0 | 0 | 0 | 0 | 4.84 | 14.96 |
| ROCE(%) | -2.24 | -2.82 | -7.53 | 1.28 | 1.62 | 5.56 |
| Receivable days | 45.96 | 100.56 | 3.84 | 3.82 | 9.2 | 7.21 |
| Inventory Days | 3138.25 | 0 | 1247.76 | 916.02 | 1552.72 | 1127.19 |
| Payable days | -223.53 | -170.16 | -345.02 | -337.5 | -265.04 | -183.52 |
| PER(x) | 0 | 0 | 0 | 0 | 1180.21 | 151.98 |
| Price/Book(x) | 0 | 0 | 0 | 0 | 30.48 | 21.14 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 3.44 | 10.85 | 0.97 | 0.68 | 16.35 | 6.5 |
| EV/Core EBITDA(x) | -55.2 | -102.05 | -19.03 | 27.22 | 359.55 | 88.13 |
| Net Sales Growth(%) | 0 | -66.03 | 998.38 | 72.37 | -20.15 | 101.36 |
| EBIT Growth(%) | 0 | -32.56 | -156.89 | 124.53 | 112.09 | 350.67 |
| PAT Growth(%) | 0 | -51.24 | -33.92 | 44.84 | 125.62 | 520 |
| EPS Growth(%) | 0 | -49.11 | -35.33 | 50.01 | 122.51 | 524.64 |
| Debt/Equity(x) | -10.42 | -5.69 | -3.29 | 35.97 | 3.06 | 3.26 |
| Current Ratio(x) | 1.07 | 1.14 | 1.05 | 1.23 | 1.23 | 1.18 |
| Quick Ratio(x) | 0.21 | 0.21 | 0.17 | 0.28 | 0.29 | 0.29 |
| Interest Cover(x) | -0.36 | -0.36 | -0.96 | 0.22 | 1.15 | 3.03 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0.1 | 0.15 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 69.63 | 69.63 | 69.63 | 69.63 | 69.63 | 69.63 | 69.63 | 69.63 | 69.63 | 69.63 |
| FII | 5.66 | 6.09 | 8.33 | 12.21 | 12.04 | 10.36 | 10.6 | 10.58 | 10.12 | 9.53 |
| DII | 5.63 | 5.08 | 5.31 | 4.69 | 4.83 | 5.15 | 5.24 | 5.52 | 5.17 | 5.4 |
| Public | 19.08 | 19.2 | 16.74 | 13.47 | 13.5 | 14.86 | 14.53 | 14.28 | 15.08 | 15.44 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 |
| FII | 0.8 | 0.86 | 1.17 | 1.72 | 1.69 | 1.46 | 1.49 | 1.49 | 1.42 | 1.34 |
| DII | 0.79 | 0.71 | 0.75 | 0.66 | 0.68 | 0.72 | 0.74 | 0.78 | 0.73 | 0.76 |
| Public | 2.68 | 2.7 | 2.35 | 1.89 | 1.9 | 2.09 | 2.04 | 2.01 | 2.12 | 2.17 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 14.05 | 14.05 | 14.05 | 14.05 | 14.05 | 14.05 | 14.05 | 14.05 | 14.05 | 14.05 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +101% | +40% | +59% | — |
| Operating Profit CAGR | +229% | — | — | — |
| PAT CAGR | +531% | — | — | — |
| Share Price CAGR | -37% | — | — | — |
| ROE Average | +15% | +7% | +4% | +3% |
| ROCE Average | +6% | +3% | 0% | -1% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 69.63 | 69.63 | 69.63 | 69.63 | 69.63 | 69.63 | 69.63 | 69.63 | 69.63 | 69.63 |
| FII | 5.66 | 6.09 | 8.33 | 12.21 | 12.04 | 10.36 | 10.6 | 10.58 | 10.12 | 9.53 |
| DII | 5.63 | 5.08 | 5.31 | 4.69 | 4.83 | 5.15 | 5.24 | 5.52 | 5.17 | 5.4 |
| Public | 30.37 | 30.37 | 30.37 | 30.37 | 30.37 | 30.37 | 30.37 | 30.37 | 30.37 | 30.37 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 | 9.78 |
| FII | 0.8 | 0.86 | 1.17 | 1.72 | 1.69 | 1.46 | 1.49 | 1.49 | 1.42 | 1.34 |
| DII | 0.79 | 0.71 | 0.75 | 0.66 | 0.68 | 0.72 | 0.74 | 0.78 | 0.73 | 0.76 |
| Public | 4.27 | 4.27 | 4.27 | 4.27 | 4.27 | 4.27 | 4.27 | 4.27 | 4.27 | 4.27 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 14.05 | 14.05 | 14.05 | 14.05 | 14.05 | 14.05 | 14.05 | 14.05 | 14.05 | 14.05 |
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