New Delhi, Jan 11 || Realty firm Signature Global on Sunday reported a sharp decline in its sales bookings for the December quarter, even as the housing market usually sees strong demand during the festive season.
The Gurugram-based company said its sales bookings fell 27 per cent to Rs 2,020 crore in the October–December quarter, compared to Rs 2,770 crore in the same period last financial year, according to its stock exchange filing.
The company sold 408 housing units during the quarter, a steep drop from 1,518 units sold a year ago.
In terms of area, sales bookings declined to 1.44 million square feet from 2.49 million square feet in the year-ago period.
The October–December quarter is typically considered strong for real estate sales due to festivals, but Signature Global did not cite any specific reason for the slowdown in its regulatory filing.
One possible factor behind the lower numbers could be the timing of project launches. The company rolled out a major housing project on Dwarka Expressway only towards the end of December, which may have limited sales during the quarter.