The company earlier paid Rs. 12,700 crore guidance for full-year pre-sales, a target it had called comfortable a few months ago. However, in a regulatory filing, Signature Global said it will now try to keep sales in line with last year’s levels, while noting that project launches will remain on schedule.
In its business update for the October-December quarter, Signature Global reported Rs. 2,020 crore in pre-sales, up from Rs. 2,770 crores down by 27%.
For the first nine months of the financial year, cumulative pre-sales stood at Rs. 6,680 crore, compared to Rs. 8,670 crore representing a decline of 23%. For the full financial year 2025, the company will invest Rs. 10,290 crore in pre-sales.
Despite weak sales volumes, average receipts have improved. During the first nine months of the year, average sales receipts rose 22% year-on-year to Rs. 15,182 per sq ft which a year ago was Rs. 12,457 per sq.ft. The company attributed the improvement to higher sales in premium markets and price increases in key regions.
In the December quarter, the collection increased to Rs. 1,230 crore which in the year-ago period was Rs. 1,080 crores. However, the collection for the first nine months of last year was Rs. 3,210 crore down to Rs. 3,090 crore has happened. Signature Global said it is more confident of meeting its collection guidance than its pre-sale targets, as collections continue to improve.
By the end of the first nine months of the year, the company’s net debt stood at Rs. 1,020 crore, compared to Rs. 880 crores. Signature Global said its balance sheet is healthy and improving collections will help it return to a growth path in the near future.
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