Signature Global scrip returns 261% in one year of IPO; out-performs BSE Realty Index

New Delhi, September 30, 2024: The stock of Signature Global, one of India’s leading developers in market cap, has provided a stellar return of 261% in one year since its listing. It has also far outperformed the BSE Realty Index which has provided a return of 93% in the last one-year.

Signature Global made its debut on the bourses – BSE and NSE – on September 30, 2023.

The company’s shares were listed at Rs 445 a piece, a premium of 15.6% to the issue price of Rs 385, closed at Rs 1605.00 on Thursday, September 26, 2024, providing a return of around 261% in one year since its IPO.

At the closing hour of September 26, 2024, Signature Global’s market capitalization stood at Rs 22,551.97 crore and it is amongst the top 10 listed real estate players.

DLF, Godrej Properties, Prestige Estates, Phoenix Mills, Oberoi Realty, Brigade Enterprises Ltd., and Anant Raj are also some of the other top real estate companies in terms of market capitalization.

Through its initial public offer, Signature Global raised about Rs 730 crore. The IPO was subscribed 11.88 times. The price band of the issue was Rs 366 and Rs 385 a piece.

Signature Global has registered a jump of 255% in sales booking at Rs 3120 crore, which is close to 30% of its target for the current financial year. During 2024-25, the company is eyeing pre-sales to the tune of Rs 10,000 crore. In 2023-24, Signature Global achieved pre-sales bookings of Rs 7,270 crore.

Its average sales realization has inched up to Rs 15,369 per sq. ft. in Q1FY25 against Rs 11,762 per sq. ft. in FY24. Moreover, collections grew by 102% to Rs 1210 crore, which is the best-ever collection done during any quarter since inception. Signature Global began its operations in 2014.

Signature Global has a significant presence in Gurugram and is looking to enter Delhi, Noida, and Greater Noida.

Stock analysts are bullish on its stock

Recently, Motilal Oswal has given a buy rating on Signature Global’s stock with a target of Rs 2000 crore. In its report, Motilal Oswal has cited the company’s agility in adapting to changing market preferences, strong execution capabilities, and a strong ~30msf project pipeline to be launched over the next two years, company management’s disciplined land acquisition strategy as factors behind giving ‘Buy’ call.