Signature Global India Ltd has received positive assessments from several leading global brokerages, with ICICI Securities, Motilal Oswal, and Kotak Institutional Equities all recommending a BUY on the stock. These brokerages have highlighted the company's strong market position in India's premium housing sector and its robust growth potential, driven by increasing demand for residential properties and favourable government policies supporting the real estate market
Signature Global India Ltd. continues to perform strongly, with ICICI Securities maintaining its BUY rating and increasing the target price to INR 2,007 (from INR 1,905), offering a potential upside of 56% from the current market price of INR 1,283. The company has demonstrated a solid 63% CAGR in sales bookings from FY21-24, largely driven by its focus on premium housing projects. For First half of FY25, Signature Global has achieved sales bookings of INR 59 billion, led by successful project launches like the Titanium project in Sector 71, Gurugram, and Daxin Vistas in Sohna, Gurugram.
Motilal Oswal has given a BUY rating on Signature Global with a target price of INR 2,000, offering 56% upside potential. The company reported strong operational performance in First half of FY25, with pre-sales of INR 59 billion, up 217% YoY, and sales volume of 4.41 msf, a 132% YoY increase. Q2 FY25 revenue surged 660% YoY to INR 7.5 billion, and First half of FY25 revenue reached INR 11.5 billion, a 335% YoY increase. Additionally, Signature reported an adjusted PAT of INR 110 million for First half of FY25, a significant improvement from the loss in First half of FY24. The company is on track to meet its FY25 targets, with strong project launches and a focus on key micro-markets.
Kotak Institutional Equities has upgraded Signature Global to a BUY rating with a revised fair value of INR 1,570, up from INR 1,555, citing strong growth prospects. The company’s First half of FY25 pre-sales of INR 59 billion, up 217% YoY, are ahead of its FY2025 target of INR 100 billion. Signature also showed healthy cash flow with 36% operating cash flow despite slower collections. The stock is attractively valued at an EV/EBITDA of 6x based on conservative margins of 25%, compared to the company’s target of 30-35%. The company remains on track to meet its full-year guidance with new project launches in Gurgaon and Manesar expected to drive future revenue growth.
