Signature Global said that it has acquired 25.75 acre land in Gurugram to develop a group housing project. However, the company did not disclose the deal value and the name of the seller.
In a regulatory filing, the company said that the land will be developed as a mixed development project comprising residential and commercial.
The land has a development potential of approximately 5.49 million sq ft.
The company said that it has sold 1,956 units at an average ticket size of Rs 95 lakh during the first half of the current financial year.
The decision was taken in the company’s board meeting on held on Thursday. Signature Global was listed on the stock exchange on September 2023.
Signature Global reported a consolidated net loss of Rs 19.92 crore in the second quarter of the financial year 2023-24, lower than Rs 59.25 crore in the year-ago period.
The realty firm’s total income fell to Rs 121.16 crore from Rs 135.68 crore a year ago, the company said earlier this week in its first quarterly result after making its market debut.