Signature Global Seeks to Take Over Stalled Housing Projects in Noida to Boost Business

Signature Global is searching for land in Noida and Greater Noida to develop its operations and will consider taking over stalled housing projects as well, assuming there are no residual litigations. Signature Global, which went public in 2023, has a strong presence in the Gurugram area in Delhi-NCR.

In an interview with PTI, Signature Global founder and Chairman Pradeep Aggarwal stated, "We want to expand our business in Delhi-NCR beyond the Gurugram market. We're looking for land parcels in Noida, Greater Noida, and the Yamuna Expressway."

The company will participate in land auctions held by the three areas' development bodies, he said.

Apart from that, Aggarwal stated, "We are also looking to take over stalled housing projects in Noida.To revitalize stalled projects, the Noida authority has implemented a co-development program. A few projects have been approved under this new strategy."

However, Aggarwal stated that the company will take over stalled housing projects as long as it does not become liable for legacy lawsuits.

While it would continue to search for land acquisitions, Aggarwal stated that the company has enough land banks in Gurugram for future expansion.

He stated that the company will build various home projects totaling Rs 50,000 crore in Delhi-NCR over the next three years to meet high consumer demand.

"Our target is to grow sales bookings by 25 percent annually," Aggarwal added.

He expressed confidence that the company will easily exceed its target of Rs 10,000 crore in sales bookings this fiscal year. Given the positive results of the first six months, he added, "We are quite hopeful of outperforming our annual guidance."

It has approximately 32.2 million square feet of saleable space in the works, as well as 16.4 million square feet of current projects.

Aggarwal claimed that the company plans to supply 16 million square feet to its consumers by March 2026. This will allow the company to record around Rs 10,000 crore of revenue in its books of accounts.