As Signature Global purchases 26 acres, a new home complex will be built in Gurugram.
A group housing complex will be built on a 25.75 acre plot of land in Gurugram, according to real estate company Signature Global.
The corporation withheld the deal's value and the seller's identity.
Signature Global stated in a regulatory filing that the "company has entered into a sale deed for acquiring a land parcel admeasuring approximately 25.75 acres located at village Fazilpur, Gurugram, Haryana, for development of a group housing project." This land tract contains an approximate 3.25 million square feet of total developable space, it noted.
In order to generate Rs 730 crore, Signature Global successfully completed its initial public offering (IPO) last month.
The public offering, which included an offer for sale (OFS) component worth 127 crore rupees and a fresh issue of shares totaling 603 crore rupees, had 11.88 times as much interest.
In the first half of this fiscal year, real estate company Signature Global reported a 38% increase in sales bookings at Rs 1,861.39 crore due to stronger demand for its inexpensive and mid-range residential projects.
In the same period last year, its sales bookings totaled Rs 1,353 crore.
With the support of well-known equity investors like HDFC and IFC, Signature Global has delivered more than 6 million square feet and has 17.21 million square feet of active projects.
It has a pipeline of 21.29 million square feet of saleable area.
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