85.20% Gain From 52W Low: Brokerages Bullish On Realty Stock; Issue 'BUY' Rating With Target Price of Rs 2,000

The top broking companies appear to have a positive outlook for Signature Global (India). ICICI Securities and Motilal Oswal issued a BUY call on Signature Global shares following the release of the company's Q2FY25 results. The target price set by Motilal Oswal is Rs 2,000 per share, while ICICI Securities has maintained a BUY call with a target price of Rs 2,007 per share. The company's stock was trading at 1303.20 per share. 18,311.35 crore was the entire market capitalisation.

Signature Global (India) Share Price Target

With a target price of Rs 2,000 per share, Motilal Oswal has maintained its BUY recommendation, suggesting a 56% upside potential. With pre-sales of Rs 27.8 billion in Q2 FY25, up 183% year-on-year, the broking praised Signature Global's impressive success, which was aided by the recent launches of Titanium SPR (group housing) and Daxin Vistas (township project) in the first half of FY25. Similarly, with a revised target price of Rs 2,007, ICICI Securities has maintained its BUY recommendation.

According to the broking company, the developer's affordable and mid-income housing projects were the main source of its 63% sales booking CAGR from FY21 to FY24. With the beginning of the Titanium project in Sector 71, Gurugram, and the Daxin Vistas project in Sohna, Gurugram, the developer reported sales bookings of Rs 59 billion in H1 FY25.

"Given its strong launch pipeline of projects with cumulative GDV of over INR 450bn during FY24-28, we estimate 21% sales booking CAGR over FY24-27E, ranging between INR 110-130bn annually over FY25-27E. Factoring in strong H1FY25 result, we raise FY25/26E sales bookings by 7% each to INR 108bn and INR 114bn, respectively," it added," ICICI Securities added.

Signature Global Q2 Results

For the quarter that ended in September, Signature Global Ltd. recorded a consolidated net profit of Rs 4.15 crore, up from a net loss of Rs 19.92 crore during the same period the previous year. From Rs 121.16 crore in the September quarter of previous year, the overall income increased to Rs 777.42 crore in Q2FY25.

Signature Global (India) Chairman Mr. Pradeep Aggarwal said, "The real estate market in the Delhi NCR region, particularly in Gurugram, continues to exhibit solid fundamentals, supported by resilient end-user demand, positive market sentiment, and significant infrastructure development. The strong response to our recent launches in Gurugram underscores the rising demand for quality homes within thoughtfully planned communities. Looking ahead, we remain focused on enhancing operational efficiency, strengthening our financial foundation, and delivering sustained value for all stakeholders. With Gurugram's expanding infrastructure and ongoing urbanization across the NCR, we see promising opportunities for established developers to meet evolving housing needs while maintaining a disciplined financial approach".

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.