Share of the giant real estate company Signature Global (NSE: SIGNATURE ) has made investors rich at rocket speed.
Its share was listed in the domestic market in September last year and now the capital of IPO investors has increased more than three times.
Talking about today, the share also celebrated the company’s turn from loss to profit in September 2024 on an annual basis and it jumped more than 5 percent.
Brokerages are indicating scope for further growth in this. Today it closed at Rs 1298.05 on BSE with a gain of 3.41 percent.
Intra-day it jumped 5 percent to reach a price of Rs 1318.10. Its shares of Rs 385 were listed on 27 September 2023.
Last year on 20 November 2023, it was at a one-year low of Rs 704.85, and on 26 September 2024, it was at a record high of Rs 1645.85.
How Was The September Quarter For Signature Global?
Signature Global posted a consolidated profit of Rs 4.11 crore in the September quarter as against a net loss of Rs 19.94 crore in the same quarter last year.
The profit was supported by a deferred tax credit amounting to Rs 29 crore. During this period, the company’s gross sales grew 660 percent to Rs 749.29 crore.
What Is The Trend Of Brokerages Regarding Investment?
A top brokerage house has raised its target price from Rs 1905 to Rs 2007.
In its report dated November 12, the brokerage said that its sales bookings grew at a compound annual growth rate (CAGR) of 63 percent in FY 2021-24 on the back of affordable and mid-income housing projects.
Apart from this, on the back of the launch of the Titanium project in Sector 17, Gurugram, and the Daxin Vistas project in Sohna, Gurugram, it achieved sales bookings of Rs 5900 crore in the September quarter.
According to the brokerage, its sales bookings can grow at a compound annual growth rate of 21 percent in FY 2024-28 on the back of a strong launch pipeline of projects with a cumulative gross development value of Rs 45,000 crore.
On the strong results of the September half year, the brokerage has increased the FY 2025 sales forecast by 7 percent to Rs 10,800 crore and the FY 2026 sales forecast by 7 percent to Rs 11,400 crore.
The brokerage has increased the target price due to these factors.
Another domestic brokerage firm has fixed a target of Rs 2,000 for investment in it, which is about 53 percent upside from the current level.
The brokerage says that the management has set a target of pre-sales of Rs 10,000 crore and collection of Rs 6,000 crore in this financial year 2025.
Apart from this, the company has expressed the hope that the gross debt will come down from Rs 1 1,000 crore to Rs 500-600 crore in the same financial year 2025.
Quick Fact
Company name: Signature Global
| Signature Global | Information |
| Listing Date | 27 September 2023 |
| IPO Listing Price | ₹385 |
| 1-Year Low Price | ₹704.85 (20 November 2023) |
| Record High Price | ₹1645.85 (26 September 2024) |
| September Quarter Profit | ₹4.11 crore |
| Previous Year September Quarter Loss | ₹19.94 crore |
| Deferred Tax Credit | ₹29 crore |
| Gross Sales in September Quarter | ₹749.29 crore |
| Gross Sales Growth (September Quarter) | 660% |
| ICICI Securities Possible Target Price | ₹2007 |
| Motilal Oswal Possible Target Price | ₹2000 |
| FY 2021-24 Sales CAGR | 63% |
| FY 2024-28 Expected Sales CAGR | 21% |
| September Quarter Sales Bookings | ₹5900 crore |
| Project Gross Development Value | ₹45,000 crore |
| FY 2025 Sales Forecast | ₹10,800 crore |
| FY 2026 Sales Forecast | ₹11,400 crore |
| FY 2025 Management Pre-Sales Target | ₹10,000 crore |
| FY 2025 Management Collection Target | ₹6,000 crore |
| Expected Gross Debt Reduction FY 2025 | ₹500-600 crore |
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