Signature Global held an investor/analyst call on November 10, 2025, to discuss the Q2 FY’26 earnings. Key highlights included discussion of sales, launches, and future plans. Management expressed confidence in achieving the FY’26 guidance, with expected presales of INR125 billion and revenue recognition of INR48 billion. Focus remains on execution and customer trust.
Q2 FY’26 Performance Overview
During Q2 FY’26, Signature Global achieved sales of INR46.6 billion. This represents a little under 40% of the annual guidance of INR125 billion. Launches are planned to increase in the second half of the year.
Launch Pipeline
The company launched 2.45 million square feet of projects worth INR43 billion during the first half of the year. An additional 8 million square feet of launches are planned for the second half, primarily in Sector 37D (3.6 million square feet) and Sector 71 (over 4 million square feet), with a GDV potential between INR13,000 crores and INR14,000 crores. The annual launch target is INR170 billion.
Sales and Pricing
The company sold approximately 3 million square feet at an average price of INR15,700 per foot, equivalent to 1,338 units at an average ticket price near INR3.5 crores per unit. Sales contributions were seen across key micro-markets: Sohna (500+ units), SPR Sector 71 (450+ units), and Dwarka Expressway (300+ units).
Collections and Expenditure
Total collections for the first half of the year reached INR18.6 billion. Construction accounted for nearly 47% of collections. Free cash of approximately $4 billion was generated and primarily used for land and approvals.
Land Acquisition
Signature Global added 2.3 million square feet in Sohna through a mix of acquisitions and increasing stake in JDA projects. The company’s Sector 71 project is planned on 92 acres with an estimated sales potential of 18.5 million square feet. The company has delivered 16 million square feet and has another 9 million square feet near completion.
Inventory and GDV
Since February/March ’24, the company has launched over 17 million square feet of projects with a GDV exceeding INR234 billion. Over INR180 billion of this inventory has been sold, leaving around INR50 billion unsold. The company is sitting on land-based inventory with a development potential of 24 million square feet. The forthcoming launch inventory has a GDV potential exceeding INR420 billion.
Debt and Revenue Recognition
Net debt remains under INR10 billion at approximately INR9.7 billion. The company raised INR8.75 billion through NCDs with IFC. Revenue recognition for the first half was approximately INR12 billion, with a GP margin of 29%.
Guidance
The company reaffirmed its guidance of launches worth INR170 billion, sales of INR125 billion, collections of INR60 billion, and revenue recognition of INR48 billion for the fiscal year.
Source: BSE
