This week’s Signature Global IPO: Affordable real estate business pivots to mid-income homes, avoids luxury projects
This week’s Signature Global IPO: Affordable real estate business pivots to mid-income homes, avoids luxury projects
According to Signature Global co-founder and managing director Ravi Aggarwal and CEO Rajat Kathuria, the transition to mid-income housing was prompted by consumer feedback during COVID-19. They further claim that the corporation would concentrate on Delhi-NCR in the next 3-5 years.
Signature Global’s initial public offering (IPO) is slated to begin bidding on September 20. The real estate firm, which was previously focused on inexpensive homes in the Delhi-National Capital Region (NCR), has now shifted its attention to the mid-income housing category.
This trend is the outcome of COVID-19, which has resulted in people seeking larger houses, according to Signature Global founder and chairman Pradeep Aggarwal and chief executive officer Rajat Kathuria in an exclusive interview with Moneycontrol.
However, the corporation is delaying its entry into the premium market for the time being. Excerpts have been edited:
Signature Global has a 17 percent market share in the budget category in 2020. It will be 9% in 2022. It has not recovered much after the outbreak. When do you expect a revival?
