Signature Global has announced an investment of ₹2,200 crore for the development of a new premium residential project, ‘Cloverdale’, in Sector 71, Gurugram, as part of its strategy to drive over 20% growth in pre-sales this fiscal.
The project, located on Southern Peripheral Road (SPR), comprises 770 apartments priced between ₹4 crore and ₹7 crore, and spans 8 acres, forming part of a larger 22-acre township. Completion is slated for 2031.
With this launch, Signature Global aims to exceed its FY24 record pre-sales of ₹10,290 crore, targeting ₹12,500 crore in FY25. The company had earlier committed a ₹4,000 crore investment this year for land acquisition and construction in Gurugram, following a ₹1,070 crore investment in FY24 for acquiring 48 acres.
"We have taken the approval of board to raise funds. We will also seek shareholders approvals," Aggarwal said.
He informed that the company will use ₹450 crore to refinance its existing debt while the remaining amount will be for business growth. Adding to it, he said the company is targeting to raise funds by end of August, subject to shareholders' approval.
