Signatureglobal (India) Limited announced the board approval for a joint venture (JV) with RMZ Group via its subsidiary, Gurugram Commercity Limited (GCL). The transaction involves RMZ acquiring a 50% stake in GCL for up to INR 1283 Crores to develop a 3.94 million sq. ft. mixed-use project in Gurugram. This strategic move diversifies Signatureglobal’s portfolio into large-scale commercial real estate development, leveraging RMZ’s expertise.
Strategic Partnership for Commercial Development
Signatureglobal (India) Limited announced today, February 14, 2026, that its Board of Directors has approved a major transaction resulting in a joint venture (JV) concerning its subsidiary, Gurugram Commercity Limited (GCL).
The JV is established with Millennia Realtors Private Limited (RMZ) of the RMZ Group. The agreement involves the sale of a 50% stake in GCL to RMZ, resulting in GCL ceasing to be a wholly-owned subsidiary, with both companies holding 50% shareholding post-completion.
Transaction Details and Consideration
The total consideration for the transaction is set at up to INR 1283 Crores. This capital injection will facilitate the development of a large-scale mixed-use project on the Southern Peripheral Road in Gurugram.
- The project involves office buildings, hotels, and retail space, covering approximately 3.94 million square feet of FSI.
- The expected total capital value of the development upon completion is projected to be in the range of INR 140-160 Billion (Bn).
The transaction is expected to be completed by March 23, 2026.
Rationale and Complementary Strengths
This collaboration represents the Company’s first large-sized commercial real estate development, marking a strategic diversification milestone. The partnership leverages:
- RMZ’s expertise: Conceptualisation, leasing, and management of commercial office and mixed-use assets.
- SignatureGlobal’s strength: Execution, construction capabilities, and strong regional presence in Delhi-NCR.
Regulatory Compliance
The transaction details, as required under disclosure norms, indicate that the transaction does not fall within related party transactions and is outside the scope of any existing Scheme of Arrangement.
The Board meeting commenced at 10:49 Hours and concluded at 11:16 Hours on the date of the announcement.
Source: BSE
