INSIDE THE QUIET RISE OF A GURUGRAM DEVELOPER

Rising from the ashes of NCR's property crisis, Signature Global became India’s 5th-largest listed realty firm in FY25 by sales

- Madhurima Nandy [e-mail]

Signature Global Park, a gated community in Sohna, Gurugram. Post pandemic, Signature Global started building larger homes at higher prices.

When Nitin Bhardwaj, a chartered accountant, started his hunt for an apartment earlier this year, it was with a clear purpose: as an investment and second home.

His budget: ₹2-3 crore; location preference: in and around Gurugram; developer: someone with a good track record of delivery.

He checked out a few projects, including a couple by prominent developer M3M Group. Then, in February, he attended a property exhibition at a hotel organized by Square Yards, a proptech platform, which was promoting projects by another developer, Signature Global (India) Ltd.

Bhardwaj ended up booking a three-bedroom apartment on the spot, at the developer’s newly launched Sohna Road project named Signature Global Daxin. He paid around ₹2.12 crore, including goods and services tax charges.

Did the purchase tick all the boxes he was looking for?

“The developer is a listed company. I did my research and found out about their land bank, cash flows, debt and what they delivered in the last 10 years,” Bhardwaj said. “There were no red flags.”

Property buyers such as Bhardwaj have become more cautious in recent years. Over the last decade, the National Capital Region (NCR), once India’s largest property market, got rocked by a string of real estate scandals. Years of unchecked expansion, diversion of funds and land-buying frenzy had led to many real estate firms—Jaypee Infratech, Unitech, Amrapali Group and Supertech, among others—falling from glory, leaving thousands of homebuyers stranded.

In this backdrop, Signature Global’s quiet rise has been nothing short of spectacular.