New Delhi, April 18 Real estate firm Signature Global India has reported a sharp 61 per cent year-on-year (YoY) decline in sale bookings for the March quarter (Q4 FY25), with figures slipping to Rs 1,620 crore from Rs 4,140 crore during the same quarter last fiscal (FY24).
The update adds to investor concerns, especially given the company’s recent performance on the stock market and financial metrics in previous quarters.
According to the company, some project launches initially planned for March 2025 were pushed to the current quarter due to minor approval delays.
"Some of the launches initially planned for March 2025 have been realigned to the current quarter due to minor delays in approvals," according to a business update by Signature Global to the stock exchanges.
The dip in quarterly bookings comes at a time when the company is already facing scrutiny for rising costs and increasing liabilities.
The company’s stock had dropped nearly 24 per cent over a six-month period on the National Stock Exchange (NSE).
Investors were particularly worried about the surge in total expenses and liabilities during Q3. In its filing, Signature Global had reported a notable rise in total expenses in third quarter, which stood at Rs 835.89 crore -- up 6.54 per cent from Rs 784.60 crore in the second quarter.
Compared to the same quarter in the previous year, the rise was even steeper at 179 per cent, from Rs 299.70 crore. The company had attributed the sharp increase in expenses to higher project execution and completion costs.
Adding to investor concerns, Signature Global’s total liabilities had also jumped significantly, touching Rs 11,525.72 crore in Q3, compared to Rs 9,852 crore in Q2 and Rs 7,181 crore a year earlier.
This reflected a 17 per cent rise quarter-on-quarter and a 60.5 per cent surge on a year-on-year basis -- raising concerns over the company’s financial stability.
However, the real estate firm's total pre-sales rose 42 per cent to Rs 10,290 crore in FY25.
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