Shares of DLF Ltd and Signatureglobal India Ltd were in focus on Monday morning after the two real estate developers gave updates on their businesses. In the case of DLF, the largest listed real estate company announced a pre-formal launch sales of approximately Rs 7,200 crore for its luxury residential development ‘DLF Privana South’ in Gurugram. Spread across 25 acres in Gurugram’s Sectors 76 and 77, the luxury residential offering by DLF was sold out within 72 hours in its pre-launch phase, DLF told stock exchanges.
In another filing to BSE, Signatureglobal said it achieved its best ever 9MFY24 pre-sales performance of Rs 3,124.13 crore with growth of 41.38 per cent over 9MFY23.
Signatureglobal India
Signatureglobal India said its collections stood at Rs 2,096.51 crore for 9MFY24 with a growth of 57.40 per cent over 9MFY23. The company expects cdllections for FY24 to be significantly higher than FY23. Signatureglobal's net debt stood at Rs 835.46 crore at end of 9MFY24.
"The company has planned significant launches in the current quarter basis acquisitions of land as already announced," it said adding Signatureglobal India's sales realisation for 9MFY24 was approximately Rs 9,800 per square feet in comparison to realisation of approximately Rs 7,500 per square feet in 9MFY23," Signatureglobal India said.
DLF
In the case of DLF, DLF Home Developers' joint Managing Director and Chief Business Officer Aakash Ohri said said" “DLF Privana South is the latest addition to our esteemed portfolio of luxury residences. The swift pre-launch sellout serves as a testament to the increasing demand for high-rise luxury developments by DLF, delivering the highly aspirational DLF lifestyle. To discourage bulk bookings, each buyer was allotted only one unit, with about 25 per cent of the sales coming from Non-Resident Indians (NRIs), and a booking amount of Rs 50 lakh, as opposed to the industry standard of Rs 10 lakh."
Ohri said DLF Privana South will serve as an integral part of the integrated ecosystem, DLF Privana, spanning about 116 acres in Gurugram's Sector 76 and 77.
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