Signatureglobal (India) Limited (SIGNATURE)
₹729.85 +0.21% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Signatureglobal (India)'s revenue was ₹552 Cr (-36.2% year on year, -50.1% on the previous quarter), and net profit ₹-16.5 Cr (against a profit a year earlier); the operating margin was -8.1%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹552 | -36.2% | -50.1% |
| Operating profit | ₹-44.5 | to loss | to loss |
| Net profit | ₹-16.5 | to loss | to loss |
| EPS (₹) | -1.18 | to loss | to loss |
| Operating margin | -8.1% | — | — |
SIGNATURE delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 27.11% of the SIGNATURE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 13.47%. Delivery was unusually high while the price barely moved (+0.21%).
Delivery in the last 5 sessions: 5.5% · 8.4% · 21.7% · 29.0% · 27.1%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Signature Global reported Q2FY27 operational performance with pre-sales of INR 18.3 billion (down 9% YoY and 7% QoQ), while collections surged 51% QoQ to INR 10.1 billion. The company sold 454 units (up 101% QoQ) across 0.88 million sq. ft. Average sales realization expanded 12.3% to INR 17,122 per sq. ft. compared to FY26 levels, supported by the launch of Tonino Lamborghini Residences. In addition, the developer added 194.22 acres in Farrukhnagar, Gurugram, creating an estimated 6.77 million sq. ft. of development potential.
- Pre-sales reached INR 18.3 billion in Q2FY27; collections jumped 51% QoQ to INR 10.1 billion
- Average sales realization rose 12.3% to INR 17,122 per sq. ft. from INR 15,250 per sq. ft. in FY26
- Housing units sold doubled QoQ to 454 units from 226 units in Q1FY27
- Added 194.22 acres in Farrukhnagar, Gurugram, with ~6.77 million sq. ft. development potential
- Net debt stood at INR 4.5 billion as of H1FY27, with cash and bank balances of INR 24.2 billion
Signatureglobal reported Q2FY27 pre-sales of INR 18.3 bn, down 9% YoY and 7% QoQ, bringing H1FY27 pre-sales to INR 38.0 bn (down 18% YoY). However, average sales realization rose 12.3% to INR 17,122 per sq. ft. compared to FY26, driven by premium launches. Collections showed recovery, jumping 51% QoQ and 9% YoY to INR 10.1 bn. The company also expanded its pipeline by acquiring/collaborating on 194.22 acres in Farrukhnagar, Gurugram, adding an estimated 6.77 million sq. ft. of development potential.
- Q2FY27 pre-sales reached INR 18.3 bn (-9% YoY, -7% QoQ) across 0.88 mn sq. ft. and 454 units
- Average realization rose 12.3% to INR 17,122 per sq. ft. vs INR 15,250 in FY26
- Collections improved 51% QoQ and 9% YoY to INR 10.1 bn in Q2FY27
- Acquired/collaborated on 194.22 acres with ~6.77 mn sq. ft. potential in Farrukhnagar, Gurugram
- Net debt stood at INR 4.5 bn with cash and bank balances of INR 24.2 bn
Signatureglobal (India) Limited announced that all eight resolutions at its 27th Annual General Meeting held on September 24, 2026, were approved with the requisite majority. Overall shareholder turnout stood at 79.43%, with 11.18 crore valid votes polled out of 14.07 crore total shares. Approved items included the adoption of FY26 financial statements, auditor appointments, and a special resolution enabling loans/guarantees under Section 185, which passed with 88.96% approval despite 1.23 crore votes against.
- All 8 resolutions passed with requisite majority at the 27th AGM held on September 24, 2026
- Overall voter turnout was 79.43%, representing 11,17,50,611 votes polled out of 14,06,86,026 shares
- Resolution 8 (loans/guarantees under Section 185) passed with 88.96% in favor and 11.04% (1,23,38,069 votes) against
- Independent Director Chandra Wadhwa re-appointed with 94.38% votes in favor; institutional opposition accounted for 46.84% of institutional votes cast
Signatureglobal (India) Limited's wholly owned subsidiaries have executed a corporate guarantee to secure a Rupee Term Loan facility not exceeding ₹100 crores availed by the parent company from ICICI Bank. The guarantors include Signatureglobal Homes Limited, Fantabulous Town Developers Limited, and Signatureglobal Business Park Limited. The guarantee represents approximately 3.1% of the company's total debt of ₹3,275 crores. The guarantee is unconditional, irrevocable, and constitutes a contingent liability for the subsidiaries with no direct operational impact on the parent.
- Corporate guarantee executed for a Rupee Term Loan facility not exceeding ₹100 crores.
- Lender is ICICI Bank Limited securing borrowing by Signatureglobal (India) Limited.
- Provided by three wholly owned subsidiaries: Signatureglobal Homes, Fantabulous Town Developers, and Signatureglobal Business Park.
- Guarantee is unconditional, absolute, irrevocable, and continuing in nature.
Signature Global has acquired and collaborated for a 194.22-acre land parcel in Farrukhnagar, Gurugram, comprising 25.00 acres via purchase and 169.22 acres via collaboration agreements. The project adds approximately 6.77 million square feet of developable potential with an estimated Gross Development Value (GDV) of Rs 5,500-6,000 crore. This estimated GDV is exceptionally large relative to the company's TTM revenue of Rs 2,281 crore (over 240%). The development will focus on ultra-luxury low-density farmhouse villas, marking an entry into Gurugram West.
- Acquired and collaborated for 194.22 acres in Farrukhnagar, Gurugram (25 acres outright purchase, 169.22 acres collaboration)
- Adds an estimated 6.77 million sq. ft. of developable area to the project pipeline
- Estimated project Gross Development Value (GDV) stands at Rs 5,500 to 6,000 crore
- Company achieved sales bookings of Rs 1,970 crore in Q1 and Rs 8,250 crore in FY25-26
Signatureglobal (India) Limited's wholly owned subsidiaries have executed a corporate guarantee to secure a Rupee Term Loan facility not exceeding ₹100 crores availed by the parent company from ICICI Bank. The guarantors include Signatureglobal Homes Limited, Fantabulous Town Developers Limited, and Signatureglobal Business Park Limited. The guarantee represents approximately 3.1% of the company's total debt of ₹3,275 crores. The guarantee is unconditional, irrevocable, and constitutes a contingent liability for the subsidiaries with no direct operational impact on the parent.
- Corporate guarantee executed for a Rupee Term Loan facility not exceeding ₹100 crores.
- Lender is ICICI Bank Limited securing borrowing by Signatureglobal (India) Limited.
- Provided by three wholly owned subsidiaries: Signatureglobal Homes, Fantabulous Town Developers, and Signatureglobal Business Park.
- Guarantee is unconditional, absolute, irrevocable, and continuing in nature.
Signatureglobal held its 27th AGM on September 24, 2026, detailing FY26 performance and outlining FY27 guidance. For FY26, the company reported pre-sales of ₹82.5 billion and collections of ₹40.1 billion, with revenue recognition reaching ₹26.0 billion and PAT rising to ₹11.0 billion. For FY27, management targets launches worth ₹150 billion, pre-sales of close to ₹100 billion (up ~21%), and collections of ₹50 billion. The company has a forthcoming pipeline of 19.8 million sq. ft. across key NCR micro-markets to be launched over the next 2-3 years.
- FY27 pre-sales target set at ~INR 100 billion vs INR 82.5 billion achieved in FY26
- Targeting INR 150 billion worth of project launches in FY27
- Collections targeted at INR 50 billion in FY27, representing 25%+ growth over FY26 (INR 40.1 billion)
- Pipeline has 19.8 million sq. ft. of forthcoming saleable area across 477 acres over the next 2-3 years
CARE Ratings has reaffirmed Signatureglobal (India) Limited's rating of 'CARE A+; Stable' across its debt facilities and non-convertible debentures. The reaffirmed ratings cover ₹729.17 crore of NCDs and ₹2,753.00 crore of long-term term loans, alongside assigning the same rating to ₹30.00 crore of non-fund based limits. Total rated long-term bank facilities stand at ₹2,783.00 crore against the company's existing total debt of ₹3,275 crore. The NCDs have a structured quarterly repayment schedule of ₹72.91 crore each, maturing by January 15, 2029.
- CARE Ratings reaffirmed 'CARE A+; Stable' on ₹729.17 crore total NCDs (₹719.17 crore and ₹10.00 crore tranches)
- Reaffirmed 'CARE A+; Stable' on ₹2,753.00 crore of long-term term loans across 21 lender facilities
- Assigned 'CARE A+; Stable' to ₹30.00 crore of long-term non-fund based limits with Axis Bank
- NCDs are repayable by January 15, 2029, in quarterly installments of ₹72.91 crore
Signatureglobal (India) Limited has announced the resignation of Mr. Amit Kaicker, Chief Business Officer – Sales & Marketing, designated as Senior Management Personnel (SMP). The resignation is due to personal reasons and takes effect from the close of business hours on September 3, 2026. Kaicker submitted his resignation formally to the Managing Director, Mr. Ravi Aggarwal, and no operational disruptions were cited.
- Mr. Amit Kaicker, Chief Business Officer – Sales & Marketing, resigned due to personal reasons
- Resignation is effective from the closing of business hours on September 3, 2026
- Designated as a Senior Management Personnel (SMP) under SEBI Listing Regulations
- Formal resignation notice submitted to Managing Director Ravi Aggarwal
Signatureglobal (India) Limited announced that Mr. Amit Kaicker, Chief Business Officer – Sales & Marketing and designated Senior Management Personnel, has resigned due to personal reasons. The resignation is effective from the closing of business hours on September 3, 2026. This change in sales leadership comes as the company continues executing its project pipeline across the NCR region.
- Resignation of Mr. Amit Kaicker as Chief Business Officer – Sales & Marketing effective September 3, 2026
- Designated role was categorized under Senior Management Personnel (SMP)
- Resignation tendered citing personal reasons with immediate acceptance
Signatureglobal (India) Limited has issued the notice for its 27th Annual General Meeting scheduled for September 24, 2026, via video conferencing. The cut-off date for e-voting eligibility is set for September 17, 2026, with remote e-voting open from September 21 to September 23, 2026. Key agenda items include the adoption of FY26 audited accounts, appointment of M/s. S. N. Dhawan & Co LLP as Statutory Auditors for a 5-year term, and re-appointment of Independent Directors. The filing is procedural in nature and forms part of standard annual compliance.
- 27th AGM scheduled for September 24, 2026 at 4:15 PM IST via video conferencing
- Cut-off date for remote e-voting eligibility is September 17, 2026
- Remote e-voting window runs from September 21, 2026 (9:00 AM) to September 23, 2026 (5:00 PM)
- Proposed appointment of M/s. S. N. Dhawan & Co LLP as Statutory Auditors for a 5-year term
- Ratification of ₹2,25,000 remuneration for Cost Auditor M/s. Goyal, Goyal & Associates for FY27
Signatureglobal (India) Limited announced the resignation of Mr. Sandeep Kumar Mittal from his position as President – Sales (Senior Management Personnel), citing personal reasons. The resignation was tendered on August 21, 2026, and became effective at the close of business hours on August 31, 2026. This leadership change occurs as the company prepares to execute its major launch pipeline in the NCR region. The filing did not name an immediate successor.
- Resignation of Sandeep Kumar Mittal as President – Sales (Senior Management Personnel).
- Cessation effective from the closing of business hours on August 31, 2026.
- Resignation letter submitted on August 21, 2026, citing personal reasons.
Signatureglobal (India) Limited announced the resignation of Mr. Sandeep Kumar Mittal from his position as President – Sales (Senior Management Personnel), effective from the close of business hours on August 31, 2026. The resignation letter, dated August 21, 2026, cited personal reasons for his departure. A smooth handover and transition of sales responsibilities was stated in the filing. The company is currently executing against an 8 million sq. ft. launch pipeline scheduled for H2 FY26.
- Sandeep Kumar Mittal resigned as President – Sales (Senior Management Personnel)
- Resignation effective from the closing of business hours on August 31, 2026
- Resignation letter formally submitted on August 21, 2026 citing personal reasons
- Company reported TTM revenue of ₹2,281 Cr and a planned 8 million sq. ft. launch pipeline in H2 FY26
Walker Chandiok & Co LLP has resigned as the statutory auditor for three material subsidiaries of Signatureglobal (India) Limited: Sternal Buildcon Limited, Signature Infrabuild Limited, and Signatureglobal Homes Limited. The resignation, effective August 12, 2026, is intended to align the subsidiaries' auditors with the parent company's auditors for group-wide consistency. The outgoing auditors have explicitly stated there are no concerns or undisclosed reasons for their resignation, having already completed the FY26 audit and Q1 FY27 limited review.
- Resignation of Walker Chandiok & Co LLP from 3 material subsidiaries effective August 12, 2026
- Auditors completed the FY26 audit report on May 11, 2026, and Q1 FY27 limited review on August 4, 2026
- The change is purely administrative to ensure consistency and uniformity in the audit process across the group
- Outgoing auditors confirmed no concerns or material reasons for resignation other than alignment
Signatureglobal reported strong operational momentum in Q1 FY27, achieving pre-sales of approximately Rs 2,000 crore. A key highlight was the launch of the Tonino Lamborghini project in Gurugram, which saw record realizations exceeding Rs 22,000 per sq. ft. and a GDV of Rs 4,400 crore. Management maintained its aggressive FY27 launch guidance of Rs 15,000 crore, representing over 5x the current TTM revenue. While quarterly collections were below the usual Rs 1,100 crore due to milestone timing, management expects a recovery in the coming quarters. The company is also planning further major launches for the Diwali period and Q4.
- Achieved record sales realization of over Rs 22,000 per sq. ft. for the new Sector 71 project
- Sold 300+ units out of 400 launched in the first phase of the Tonino Lamborghini project with GDV of Rs 4,400 cr
- Maintained annual launch guidance of Rs 15,000 crore for FY27
- Pre-sales for the quarter stood at approximately Rs 2,000 crore
- Budgeted cost escalation remains stable at 7-8% annually for material and labor
Financial Performance
Revenue Growth by Segment
Revenue from operations grew 101.4% YoY to INR 25.00 bn in FY25. In H1 FY26, mid-income housing contributed 67% of the INR 12.0 bn recognized revenue, while affordable housing contributed 33%. Real estate property revenue specifically grew from INR 11.9 bn to INR 24.2 bn in FY25.
Geographic Revenue Split
100% of operations are concentrated in the Delhi NCR region, with strategic focus on micro-markets including Sector 71 (Southern Peripheral Road), Sector 37D (Dwarka Expressway), and the Sohna region.
Profitability Margins
Net Profit Margin improved significantly from 1.29% in FY24 to 4.04% in FY25. Adjusted Gross Profit Margin stood at 30.6% in FY25 and 29.0% in H1 FY26. The improvement in margins is driven by a shift in product mix toward high-margin mid-income projects.
EBITDA Margin
Adjusted EBITDA margin increased from 10.75% in FY24 to 14.41% in FY25. However, it dipped to 6.4% in H1 FY26 due to lower-than-anticipated revenue recognition timing, though the company expects to recover this in H2 FY26.
Capital Expenditure
The company created a free cash flow of approximately INR 4.0 bn in H1 FY26, which was primarily reinvested into land acquisition and project approvals to support the 8 million square foot launch pipeline.
Credit Rating & Borrowing
Net debt stood at INR 9.7 bn as of September 2025, up from INR 8.8 bn in March 2025. The Debt-to-Equity ratio was 3.24 in FY25. The company aims to maintain net debt below 0.5x of the projected operating surplus.
Operational Drivers
Raw Materials
Construction materials including steel, cement, and bricks; specific percentage of total cost per material is not disclosed in available documents.
Import Sources
Sourced domestically within India, primarily serving the Delhi NCR construction sites.
Key Suppliers
Key construction partners and contractors include Ahluwalia Contracts, Capacit'e, and Arabian Construction Company.
Capacity Expansion
Completed developable area stands at 10.90 million sq. ft. with 3.70 million sq. ft. currently ongoing. The company has an unparalleled launch pipeline of 8 million sq. ft. planned for the second half of FY26.
Raw Material Costs
Construction costs accounted for 47% of total collections in H1 FY26. The company has onboarded Bain & Company to improve construction-related efficiency and optimize these costs over the next 18 months.
Manufacturing Efficiency
The company achieved an 80%+ sell-through rate for projects launched since February/March 2025, indicating high inventory turnover and market demand efficiency.
Logistics & Distribution
Distribution and brokerage costs, combined with SG&A and taxes, accounted for approximately 25-27% of total collections in H1 FY26.
Strategic Growth
Expected Growth Rate
92%
Growth Strategy
The company plans to achieve its FY26 revenue guidance of INR 48 bn by executing an 8 million sq. ft. launch pipeline in H2 FY26. Strategy involves shifting the product mix toward mid-income housing (which now yields 35% gross margins in Q2 FY26) and leveraging a 57% CAGR in pre-sales achieved since FY21.
Products & Services
Residential apartments (Affordable and Mid-income), commercial units, and industrial plots.
Brand Portfolio
Signature Global, Signature Global Park, Titanium SPR, City of Colours.
New Products/Services
Recent launches include Titanium SPR and City of Colours, which contributed to the 39% increase in inventory turnover.
Market Expansion
Deepening penetration in the Southern Peripheral Road (SPR) and Dwarka Expressway markets over the next 7-8 quarters.
Market Share & Ranking
Not disclosed as a specific rank, but described as having an 'unparalleled' launch pipeline in its specific micro-markets compared to other large companies.
Strategic Alliances
Partnerships with top-tier contractors (Ahluwalia, Capacit'e) and efficiency consultants (Bain & Company).
External Factors
Industry Trends
The industry is shifting from the 'Percentage of Completion' method to Ind AS 115, where revenue is recognized only upon delivery. Signature Global is positioning itself for this by accelerating construction to meet a recognition guidance of INR 48 bn for FY26.
Competitive Landscape
Competes with large national and regional developers in the Gurgaon and Sohna micro-markets.
Competitive Moat
Brand trust in the NCR region and a dominant land bank in high-growth corridors like SPR. This moat is sustainable because 80% of new launches are sold out almost immediately, creating a virtuous cycle of liquidity and new land acquisition.
Macro Economic Sensitivity
Highly sensitive to interest rate cycles; as a real estate player, a 1% increase in home loan rates can significantly impact the affordability and demand for its mid-income housing units.
Consumer Behavior
Strong shift in consumer preference toward larger, mid-income units over basic affordable housing, evidenced by the 67% revenue contribution from mid-income segments.
Geopolitical Risks
Limited direct impact due to domestic focus, though global commodity price spikes (steel/fuel) would increase construction costs.
Regulatory & Governance
Industry Regulations
Subject to RERA (Real Estate Regulatory Authority) and Ind AS 115. Revenue is only recognized upon receipt of the Occupancy Certificate (OC) and substantial collection.
Environmental Compliance
Certified as a 'Great Place to Work' and maintains ESG policies for GHG reduction and sustainable procurement; specific compliance costs not disclosed.
Taxation Policy Impact
Effective tax rates are subject to corporate tax norms; the company reported a PAT of INR 1.01 bn after all tax provisions in FY25.
Risk Analysis
Key Uncertainties
Timing of revenue recognition under Ind AS 115 can cause quarterly volatility in EBITDA, as seen in the H1 FY26 dip to 6.4%.
Geographic Concentration Risk
100% of revenue is derived from the Delhi NCR region, making the company highly vulnerable to local regulatory changes or regional economic downturns.
Third Party Dependencies
Heavy reliance on third-party contractors for project execution; delays by contractors would directly postpone revenue recognition.
Technology Obsolescence Risk
Risk is low in core real estate, but the company is mitigating digital risks through an established internal control framework and efficiency consulting.
Credit & Counterparty Risk
Receivables quality is high as revenue is recognized only after substantial collections; Debtors Turnover Ratio improved to 50.65 in FY25.
