SignatureGlobal India Share Price: SignatureGlobal India has registered a consolidated PAT of Rs 41.25 crore in the January-March quarter. Its PAT was Rs 7.64 crore in the same quarter last year, the company said in a regulatory filing.
If you are looking for a better stock to invest, then you can keep an eye on the shares of SignatureGlobal India. Actually, brokerage firms look bullish on this stock. SignatureGlobal India has reported strong results in the fourth quarter of FY24. Last Friday, the company’s shares fell by 1.68 percent and the stock closed at Rs 1281.50 on BSE. With this decline the market cap of the company has become Rs 18,006 crore. The stock’s 52-week high is Rs 1,438 and 52-week low is Rs 444.10.
What is the brokerage’s opinion on SignatureGlobal India?
Brokerage firm ICICI Securities, in its research report dated May 16, 2024, has expected a rise in the shares of SignatureGlobal India. The brokerage has given Buy rating to the stock and set a target price of Rs 1707. Accordingly, there is a possibility of a strong rally of 33 percent in the company’s shares.
“We maintain Buy rating on Signature Global India (Signature) with a revised target price of Rs 1707 (previously Rs 1705). This puts the company at 9x FY24-26E average embedded EBITDA on sales bookings,” the brokerage said in its report. Signature has achieved 63 per cent sales booking CAGR during FY 2021-24, mainly through affordable/mid income housing projects.It has now led the way in premium group housing projects in prime areas of Gurugram. Have stepped in.”
The brokerage further said, “We estimate Signature to register 19 per cent sales booking CAGR over FY24-27E, with sales bookings between Rs 100-120 billion per annum in FY25-27E and average realization above Rs 13,000 per sq ft “
How were SignatureGlobal India’s quarterly results?
SignatureGlobal India has reported a consolidated PAT of Rs 41.25 crore in the January-March quarter. Its PAT was Rs 7.64 crore in the same quarter last year, the company said in a regulatory filing. The company’s net consolidated income stood at Rs 722.73 crore in the March quarter, which is 1.81 percent more than Rs 709.86 crore recorded in the same quarter last year.
The company aims to achieve pre-sales of Rs 100 billion and collections of Rs 60 billion in FY25. It recorded pre-sales growth of 112 per cent to Rs 72.7 billion for FY24, while collections grew 62 per cent to Rs 31.1 billion. Currently, the company has a portfolio of 48.6 million sq ft, of which 16.4 million sq ft is operational and 29.3 million sq ft is upcoming. It aims to keep net debt less than 0.5 times projected operating surplus.
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