Signature Global says Rs 7,230 crore awaits recognition

Signature Global estimates Rs 7,230 crore of revenue recognition from its 9.2 million-square-foot ongoing portfolio, while its combined ongoing, recently launched and forthcoming saleable portfolio totals 59.7 million square feet. Of the ongoing area, 5.1 million square feet remains for completion after partial occupancy certificates were received for 4.1 million square feet of floors projects.

How much revenue does Signature Global expect from ongoing projects?

Signature Global estimates Rs 7,230 crore of total revenue recognition from 13 ongoing projects, combining Rs 5,910 crore already collected, Rs 980 crore yet to be collected and Rs 340 crore of estimated unsold-inventory value. The ongoing portfolio covers 105.6 acres, has 9.2 million square feet of saleable area and has recorded sold value of Rs 6,890 crore.

Signature Global separately estimates Rs 1,320 crore of collections from the ongoing projects. The presentation identifies the value of unsold inventory as an estimate based on company analysis, while it does not provide project-level recognition dates for the Rs 7,230 crore estimate.

The 9.2 million-square-foot ongoing total includes 4.1 million square feet of floors projects that have received partial occupancy certificates. Signature Global therefore reports 5.1 million square feet as the remaining area for completion, rather than treating all 9.2 million square feet as unfinished.

Which ongoing Signature Global segments are most sold out?

Signature Global's mid-income Gurugram segment has the highest sold-area ratio at 96.9% and is also the largest ongoing category, with 5.9 million square feet across seven projects. Affordable housing follows at 96.2% sold across 2.7 million square feet and four projects.

Mid-income Gurugram has sold value of Rs 5,300 crore, compared with Rs 1,150 crore for affordable housing. The single mid-income Sohna project is 93.9% sold and has Rs 240 crore of sold value, while the retail and other segment is 66.3% sold, below each residential category.

By location, Gurugram accounts for 93.9% of ongoing saleable area and Sohna for 6.1%. By category, mid-income housing represents 68.1% of ongoing area, affordable housing 29.8%, and other uses 2.1%, showing that the current completion base is concentrated in Gurugram mid-income projects.

How large is Signature Global's launch pipeline?

Signature Global lists 27.3 million square feet of forthcoming projects for estimated launch over the next two to three years, alongside 23.2 million square feet recently launched. Together, these two stages cover 50.5 million square feet across 700 acres in the detailed launch-pipeline table.

Sector 71 has the largest forthcoming allocation, with 11.9 million square feet within a 17.8 million-square-foot group housing, commercial and retail plan on 93 acres. Sector 37D has 2.7 million square feet forthcoming within a 9.5 million-square-foot plan, while the Sohna Corridor has 3.8 million square feet forthcoming within a 10.2 million-square-foot township allocation.

Farrukhnagar contributes 6.8 million square feet of forthcoming farmhouse villas on 194 acres. Manesar has 0.1 million square feet forthcoming after 3.3 million square feet of recent launches, and other locations have 2.0 million square feet forthcoming following 0.8 million square feet recently launched.

Signature Global says forthcoming saleable-area potential is based on its best estimates under current zoning regulations. One portfolio-page heading refers to 24.6 million square feet of forthcoming projects, but the detailed category table and launch-pipeline table show 27.3 million square feet, and the stated 59.7 million-square-foot portfolio total uses the latter figure.

How does Signature Global's portfolio mix change across stages?

Signature Global's 59.7 million-square-foot portfolio comprises 9.2 million square feet of ongoing projects, 23.2 million square feet recently launched and 27.3 million square feet forthcoming. Group housing is the largest category at 23.6 million square feet, followed by mid-income housing at 14.6 million square feet.

The mix changes from the ongoing base to future projects. Mid-income housing accounts for 68.1% of ongoing area but 13.6% of forthcoming area, while group housing represents 38.4% of forthcoming area and farmhouse villas represent 24.8%. The recently launched component includes 13.1 million square feet of group housing and 5.2 million square feet of plotted development.

Signature Global's disclosed estimated selling prices range from Rs 13,800 per square foot in Manesar to Rs 22,000 per square foot in Sector 71. Sector 37D is listed at Rs 16,500 per square foot, while the Sohna Corridor and other locations are each listed at Rs 15,000 per square foot, subject to market conditions.

Conclusion

Signature Global's presentation separates a largely sold 9.2 million-square-foot ongoing portfolio, associated with an estimated Rs 7,230 crore of revenue recognition, from 50.5 million square feet of recently launched and forthcoming projects. The mix shifts from an ongoing base dominated by Gurugram mid-income housing toward future group housing, farmhouse villas and other formats.

The next disclosed milestones are the estimated launch of all forthcoming projects over the next two to three years and completion of the remaining 5.1 million square feet of ongoing area. Readers can also watch whether the forthcoming-area figure is presented consistently, as the detailed tables use 27.3 million square feet while one heading states 24.6 million square feet.