New Delhi: Real estate developer Signature Global has invested ₹3,000 crore in the construction of multiple projects and allocated an additional ₹1,500 crore for land acquisition as the residential real estate sector continues to grow despite some softness in the market.“We have set a collection target of ₹6,000 crore. Whatever remains after construction, office expenses and land purchases will be used to reduce debt,” said Pradeep Kumar Aggarwal, chairman and whole-time director of the company.
The company’s net debt declined to ₹1,010 crore at the end of H1FY25, down from ₹1,160 crore at the close of FY24.
“We continue to look for suitable land parcels, with 16-17 million sq ft currently under construction. We don’t want our debt to exceed 50% of our operating surplus. While we might consider some bridge funding if needed, we are comfortable with the current debt level,” Aggarwal said.
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