In an exchange filing published on August 8, the company has secured development rights over approximately 11.887 acres, while its wholly owned subsidiary, Signatureglobal Business Park Limited, has secured development rights over another 13.73 acres.
The development rights are subject to obtaining the necessary licences and approvals from the relevant authorities. The land parcels have an overall potential developable area of approximately 2.18 million square feet.
Earlier this week, the company also announced its quarterly results for Q1. In the first quarter, the company reported a net loss of ₹16.5 crore for the quarter ended June. In the year before, the company had managed a net profit of ₹34.4 crore.
Meanwhile, the topline figures also declined, with revenue from operations declining 36.2% year-on-year to ₹552 crore from ₹865.6 crore. Furthermore, the company reported an EBITDA loss of ₹44.7 crore, compared with an EBITDA profit of ₹33 crore a year earlier.
It needs to be noted that the realty company’s projects currently under execution are expected to generate around ₹7,340 crore in revenue recognition and approximately ₹1,580 crore in customer collections over the next four to five quarters.
When we take a look at the company stock’s recent performance, the company shares slipped 1.84% on Friday by the end of the day’s trade. Furthermore, the company’s stock has seen a decline of 12.20% in the past 6 months of trade. The current stock price is 800.00 is at a steep 31% decline from its 52-week high of ₹1,158.00 per share.Also Read: Why Signature Global slipped into a Q1 loss despite a ₹7,300-crore revenue pipeline
