Signature Global shares fall nearly 20% this year

Mumbai: Shares of real estate developer Signature Global India Limited have fallen sharply this year, dropping by Rs 268.10 or 19.8 per cent on a year-to-date (YTD) basis, according to BSE analytics data on Tuesday. Over the last one year, the stock has lost Rs 283.20 or 20.68 per cent of its value.

The shares closed on Tuesday at Rs 1,086.15, down Rs 17.45 or 1.58 per cent for the day. In recent months, however, the stock has shown some signs of recovery. Over the past one month, Signature Global shares have gained Rs 30.95 or 2.93 per cent, while in the last two weeks, they rose Rs 84.90 or 8.48 per cent.

Despite the volatility in the stock, the company recently announced that it has raised Rs 875 crore through non-convertible debentures (NCDs) from the International Finance Corporation (IFC), the lending arm of the World Bank. The funds will be used to develop mid-income housing projects and reduce debt.

Speaking about the development, Pradeep Aggarwal, Founder and Chairman of Signature Global (India) Ltd, said that the investment from IFC reflects confidence in the company’s focus on customer satisfaction, transparency, and timely delivery. “Ever since our inception we have focused on key pillars of customer satisfaction, delivery and transparency,” he mentioned.