Signatureglobal (India) (SIGNATURE) Q4 23/24 earnings summary

Executive summary

• FY 2023-24 bookings reached ₹72.688bn, up 112% YoY; 4,619 units sold across 6.18mn sq ft, with 97% of sales from mid-income and retail categories.

• Growth was led by launches and stronger sales realisation, while reported revenue from operations declined as project revenue recognition shifted under Ind AS 115.

Financial highlights

• Consolidated revenue from operations was ₹12.406bn, down 20.15% YoY; total income was ₹13.246bn versus ₹15.859bn in FY 2022-23.

• Consolidated PAT was ₹163.24mn versus a loss of ₹637.15mn; consolidated EPS was ₹1.22 versus a loss of ₹5.44.

• Adjusted EBITDA was ₹1.333bn, with a 10.75% margin, versus ₹2.156bn and 13.88% in FY 2022-23.

• Gross collections were ₹31.063bn, up 62% YoY; operating cash flow before land investments was ₹9.11bn, against ₹13.66bn of land acquisitions.

• Sales realisation rose to ₹11,762/sq ft from ₹7,886/sq ft; sales covered 6.18mn sq ft, with 4,619 units sold.

Outlook and guidance

• FY 2024-25 launch pipeline targeted at ₹160bn, with sales growth above 35% and ₹100bn of pre-sales.

• FY 2024-25 revenue recognition targeted at ₹38bn; operating surplus expected at 45% of collections, or ₹60bn.

• Near-term priorities include project completions and construction investment; ongoing projects are targeted for delivery by FY 2025-26.

• Planned launches include a large Sohna mid-income project; expansion into Delhi and Noida is under consideration for coming years.