Signature Global (India) Ltd., a prominent real estate developer, has announced a significant investment of ₹1,293 crore from RMZ group for a 50% equity stake in Gurugram Commercity Limited (GCL), previously a wholly owned subsidiary of Signature Global.
The transaction has resulted in the formation of a 50:50 joint venture between Signature Global and RMZ, aimed at developing a large-scale mixed-use commercial project on the Southern Peripheral Road (SPR) in Gurugram. This development will include office spaces, hotels, and retail components, with an estimated total capital value of approximately ₹14,000–16,000 crore upon completion.
The joint venture leverages the complementary strengths of both partners. Signature Global brings its robust execution and construction capabilities and a deep understanding of the Delhi-NCR market, while RMZ contributes its expertise in designing, leasing, and managing large commercial and mixed-use developments.
The Securities Subscription and Purchase Agreement (SSPA) executed as part of the transaction enables RMZ to acquire a 50% equity stake in GCL through a combination of share purchase and share subscription, for an aggregate consideration of ₹1,293 crore. The project will have a Floor Space Index (FSI) of 3.94 million square feet.
This development marks Signature Global’s first large-sized commercial real estate project within its existing land portfolio, representing a strategically significant milestone in its portfolio diversification. The Southern Peripheral Road is evolving into a premier hub for both residential and commercial growth, supported by robust infrastructure and seamless connectivity.
Commenting on the development, Mr. Pradeep Aggarwal, Founder & Chairman of Signature Global, stated, “Today represents a significant milestone in Signature Global’s growth as we expand our development portfolio with this large-scale mixed-use project. The successful closing of this transaction and the receipt of RMZ’s investment further bolsters our financial standing and reinforces the market’s confidence in our execution capabilities.”
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).