ICICI Securities, Motilal Oswal, & Axis Securities Expect Signature Global Stock to Rise by 30%-60%

Brokerage firms ICICI Securities, Motilal Oswal, and Axis Securities have recommended buying shares of Signature Global (India) following the company’s Q3 FY25 results.

ICICI Securities has given a BUY recommendation with an updated target price of Rs. 2,058, while Motilal Oswal and Axis Securities have set their target prices at Rs. 2,000 and Rs. 1,645 per share, respectively.

As of the closing hours on Tuesday, February 11, 2025, Signature Global’s stock was trading at Rs. 1,289.30 per share. Based on the target prices set by brokerage firms, the stock could see an upward movement in the range of approximately 27% to 60%.

Brokerage Firm Recommendations

ICICI securities has retained its BUY rating with revised target price of Rs. 2,058, indicating a 59% upside movement in the stock.

The brokerage firm noted that the developer achieved a 63% sales booking CAGR from FY21 to FY24, primarily through affordable and mid-income housing projects. “With the company having already achieved 87% of its FY25 sales booking guidance of Rs. 10,000 crore in 9MFY25 along with further launches worth Rs. 25 billion lined up in Q4FY25, including Sohna low-rise floors/plots, we believe that Signature is on track to comfortably achieve its FY25 guidance,” ICICI securities said in its report.

Similarly, Motilal Oswal has kept its BUY rating with a target price of Rs. 2,000 per share, indicating a 54% upside potential.

Motilal Oswal noted that Signature Global reported strong pre-sales of Rs. 8,670 crore in 9MFY25 with successful launches in Titanium SPR and Daxin Vistas on the Sohna Corridor (3,500 units sold with an avg. ticket size of INR25m). In Q3FY25, Signature Global reported a revenue of Rs. 830 crore, up 194% YoY/10% QoQ.

Brokerage Firm Axis Securities also anticipates that the share price of the company could rally up to Rs. 1,645, implying a 27% upside from the current market price.

“The company sold over 3,500 units with an average ticket size of Rs. 2.5 crore during 9MFY25, aligning with its focus on the mid-income housing segment and its “Build to Sell” strategy. Its approach of offering the “Right Product at the Right Price in the Right Location” continues to drive sustainable growth,” noted Axis Securities.

Surge in profit and Income in December Quarter

Signature Global reported a consolidated net profit of Rs. 28.99 crore for the quarter ended December, compared to just Rs. 2 crore in Q3FY24. Total income jumped nearly three-fold to Rs. 862.14 crore in the third quarter of the 2024-25 fiscal from Rs. 301.75 crore in the corresponding period of the preceding year.