Signature Global cuts net debt by 16% in June quarter on strong sales

Realty firm Signature Global's net debt has come down by 16 per cent in June quarter to Rs 980 crore on better cash flows amid strong sales in its housing projects.

In its latest investor presentation for the June quarter, the company informed that its net debt stood at Rs 980 crore as on June 30, 2024, as against Rs 1,160 crore at the end of the last financial year.

"The company aims to keep net debt below 0.5 times of the projected operating surplus for the ongoing financial year, as a long term discipline," the presentation said.

Earlier this week, Signature Global reported a consolidated net profit of Rs 6.76 crore for the quarter ended June on higher income.

The company had posted a net loss of Rs 7.22 crore in the year-ago period.

Total income rose to Rs 427.98 crore in April-June of 2024-25 fiscal from Rs 178.90 crore in the corresponding period of the previous year.

Pradeep Kumar Aggarwal, Chairman and WholeTime Director, highlighted that, "In the first quarter itself, we