Signatureglobal (India) Ltd (NSE: SIGNATURE) Q4 2026 Earnings Call dated May. 14, 2026
Corporate Participants:
Pradeep Kumar Agarwal — Chairman and Whole Time Director
Rajat Kathuria — Chief Executive Officer
Sanjeev Kumar Sharma — Chief Financial Officer
Analysts:
Adhidev Chattopadhyay — Analyst
Parvez Akhtar Qazi — Analyst
Pritesh Sheth — Analyst
Presentation:
Operator
Ladies and gentlemen, good day and welcome to Signature Global India Limited Skills Q4FY26 Results Conference Call hosted by ICICI Securities. As a reminder, all power spin lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing then 0 on your Touchton phone. Please note that this conference is being recorded. I now hand the conference over to Mr.
Adita Chattopadhya from ICICI Security. Thank you. And over to Mr. Chatur.
Adhidev Chattopadhyay — Analyst
Good morning everyone. On behalf of ICICI Securities, I’d like to welcome everyone on the call today. As always from the Signature Global Management, we have with us Mr. Pradeep Kumar Agarwal, the chairman and whole time director. Mr. Lalit Kumar Agarwal, the Vice Chairman and whole time director, Mr. Ravi Agarwal, managing director, Mr. Devender Agarwal, joint managing director and whole time director, Mr. Rajat Kathuria, the chief executive officer, Mr. Sanjeev Kumar Sharma, the chief financial officer and Ms.
Pritika Singh, head of Investor Relations. I would now like to hand over the call to the management for their opening remarks and comments over to you. Thank you.
Pradeep Kumar Agarwal — Chairman and Whole Time Director
Good morning everyone. It is a pleasure to welcome you all to the Q4FY26 earning conference call of Signature Global. Thank you for joining us today. I hope you have had the opportunity to review our financial results and investor presentation shared yesterday. To begin, I would like to reflect on the global and Indian housing and economic environment which continues to support long term real estate growth. Globally, real estate market have remained stable compared to other asset classes supported by urbanization, improving lifestyle and strong demand for quality housing in India.
The moment of in ever stronger driven by strong economic growth, rising income, rapid urbanization, infrastructure development and policy reform that continue to improve transparency and investor confidence in the sector. According to a recent JLL report, Delhi LCR recorded a strong 30% year on year growth in a housing sale during quarter one 2026 with the Gurugram remaining one of the high performing markets. Further highlighting this momentum, nearly INR27,000 crore was invested into new real estate projects in Gurugram during the first four months in 2026 as per Gurugram Brera data.
Amid this positive backdrop, Signature Global has invented its presence across the key residential micro market. While advancing in the diversification strategy, we have entered in a large scale commercial development through a strategic collaboration with RMG Group. Through this we will develop a mixed use commercial project in sector 71 on southern periphery Road Gurugram. Recently we have entered in a branded residence segment with a strategic collaboration with the Tonino Lamborghini for a premium branded residence project in Sector 71 Gurugram.
This move will further enhance our growth strategy. With rising demand for branded residents, we see strong long term potential and will continue to purchase similar opportunity aligned with the involving customer aspirations. FY26 has been a year to stable progress for Signature Global. We saw strong customer demand across projects, better sales price and constant growth in our core market. Our profit for FY26 reached an all time high while revenue from operations also grew in a balanced manner.
Net debt has come down to historical low level reflecting our continued focus on financial discipline. Looking ahead, we remain positive on the long term growth on the housing sector especially the Gurugram and Delhi NCR supported by better infrastructure, strong end user demand and urban growth. We believe the market will continue to offer strong opportunity for quality developers. At Signature Global our focus will remain on timely delivery, customer first approach and financial discipline and sustainable growth.
With that I would now like to invite our CEO Mr. Rajat Kathuria to take you through the company’s financial performance in detail. Thank you once again for joining us today and for your trust and support in Signature Yoga.
Rajat Kathuria — Chief Executive Officer
Thank you Sadeepji for giving the opportunity. Good morning and thanks to everyone for joining this call today. So as a brief, for the entire year we launched two large high rise projects during the year. The first launch was under the name of Cloverdale which is about 1.75 million square foot development in Sector 71 on the Southern Peripheral Road in Gurgaon. And the second key launch was under the name of Signature Global Server which is even larger, almost closer to 3.75 million square foot.
This project happens to be just off the Dwarka Expressway market. Put together these two launches contributed almost like 85 odd percent of the total launches which added up to about 6.5 million square foot. The balance being certain leftover areas in erstwhile projects or certain extensions in. So you know these two were the, you know, larger launches which the company did in its key markets over the previous year. With the help of these launches and some of the inventory which we were sitting with, we achieved Pre sales of 82.5 billion 82/ billion INR which can be seen in two manner.
One is of course as a comparison to the previous year which is FY25 there was a dip in pre sales but we prefer to see it more as a longer term trend because if you look at the sales pattern. Between fiscal year 22 till fiscal year 2026 we’ve grown upwards of 30% on a year on year basis. So as a longer term basis I think sales has an upward trajectory. Half of the sales came out of the new launches which the company did in the previous year. By and large just approximations. About half the sale came out of the new launches which the company did while the balance came from sustaining sales from the erstwhile projects.
And overall we sold in excess of 5 million square foot and about 2,100 plus housing units got sold in order to achieve the sale which was steady across quarters. There was no lumpy quarter. But yes, I think by and large we’ve been selling on a steady basis across four quarters. One of the primary reasons for the same being that over the last one or two years we’ve done multiple launches and we’ve created some inventory. So hence you know, sustain in sales and new launch sales happen in tandem with each other.
I would like to add on that if we look at the trend over the last eight to nine quarters the company has launched multiple projects, both high rise projects as well as large township projects put together. We’ve added, you know, launched almost 21 plus million square foot which has a GDP potential in excess of 30,000 crores, 300 billion INR. So effectively you know, we’ve been, we’ve been firmly believing that you know, supply creation leads to demand creation and vice versa. So you know, we’ve been creating continuous supply across the micro markets in Gurkhao.
As far as realizations iron collection go per square foot realization crossed 15,000 rupee mark which is of course 20% plus realization on a per square foot basis vis a vis the previous year. But this was primarily led by escalation in each of these individual markets and sale of more group housing product which is the upper end product being offered by the company. We didn’t come up with any new new launches of mid rise floors which are comparatively lower in ticket size as well as price points.
So it was more premiumized product and in general some escalation in each of these markets. Now despite so bit of dichotomy here that you know, one could feel that while the markets in general are not doing well, why are the sales prices, you know, still escalating? You know one of the key factors very specific to Gurgaon which we are able to understand is that there is still huge shortage of actual units which have been handed over to customers. You know, a lot of sales has happened over the last few years ever since, you know the markets have rebound but still there are only limited availability of livable inventory in Gurgaon market and that continues to push up prices of first the secondary stock and as a follow on impact on the primary stock which we are creating on a quarterly basis along with other players in the industry.
So in summary, yes realizations have gone up. They went beyond 15,000 rupees a foot in the previous year. Even in the current year we do expect certain normative increase, certain inflationary increase in selling prices. We are not going to push that sale prices up. But yes, I think if market forces help us to price the product at a higher price then of course we are going to grab that price increase for the company collection trend was steady again very similar to the sales trend that if we look at a longer term trend of last three to four years we’ll see an annual sales collections have grown at more than 30%.
Whereas vis a vis the previous year there was a marginal dip in the annual collections. However, it’s important to note that if we also consider the collection stroke realization which the company did out of the JV partnership formed put together about 40 billion of annual collections and about 12 and a half billion near about of the money which we received out of the JV transaction the total cash collection by the company structure stored close to about 50 to 53 odd billion INR. Moving on to the portfolio position, we’ve till date completed close to 18 million square foot of development.
We were anticipating previous year to be better than what it ended up being in terms of completion. But there was some, there is some slippage into the current year because there were first bit of excessive rains and then you know fairly elongated ngd. You know restrictions got applied. But you know this year there’s bit of COVID up activity for us to do. There’s another 12 odd million square foot which is very close to completion. And you know we are not, we are giving ourselves let’s say just next four to five quarters to complete that entire erstwhile stock which will by and large help us complete almost all the affordable projects which are still under development and bulk of the floors which we launched under the DEEN real AWA yoghna policy.
So both of those projects are nearing completion and we don’t envisage more than four to five quarters now where we are in terms of completing that stock. So in a few quarters from now I think we’ll be close to 30 million square foot of completed and delivered projects for the company. In addition to that I would like to club two buckets effectively one project which we’ve launched over the last eight quarters which is in excess of 21 million square foot and there’s another 19 million square foot which land resource we currently have in the company.
So put together, this is about 40 million square foot put together. The GDV of both these sets of projects crosses 700 billion INR. 70,000 crores of GDV is there in between these two subsets of the portfolio. Amongst the forthcoming set of projects which is again nearing 20 million square foot, about 14 and a half million will be executed solely by the company. Whereas about 5 and a half million square foot is being done in partnership with, with the RMZ Group. And I’ll talk about that in a little bit more detail just in a short while.
But in summary, 18 million odd completed, 12 million nearing completion, another 40 million put together, half of it has been launched. We’ve demonstrated steady supply through these launches over the last eight to nine quarters and we are in a very good position to launch the balance over the next similar time period of 8 to 12 quarters. But you know, put together this portfolio, you know, would, let’s say in eight to 12 quarters won’t be like a land portfolio, this would be a cash generating project portfolio worth nearing 700 billion INR.
Talking a little bit more about the RMZ trade. So in sector 71 which is on the southern peripheral road as of today, we have access to 90 plus acres of land. And of that, about 18 acres of land is where we’ve entered this partnership primarily because this 18 acres was, we could have done, you know, yield assets on that particular land parcel, whether it be offices, retail, hotel spaces, but that was good for office spaces, for commercial development. And we’ve always been on a build to sell model of development and wanted, didn’t want to, you know, learn a build to yield basis by doing it ourselves.
So we found very complementary skill sets, you know, in RMZ whom we chose as a partner to do this five and a half million square foot of development. This project in itself is at an advanced stage because land is fully licensed, which is a very local Gurgaon nuance. The land is fully licensed. Almost all DTCP related approval payments have been made and now we are together designing this project through one of the world’s best architects. And we do intend to activate this project within this year itself.
This project will primarily have office spaces which will be in excess of 4 million square foot between 4 to 4 and a half million square foot and the balance area will be split across retail and hotel spaces and the exact numbers are getting worked out. So we just have approximation of these areas as of now. But and by and large this would be done on a build to lease basis. We may, you know, sell just a portion of it but all that strategy is yet to be firmed up. But by and large this will be on a build to sell basis.
And once developed we both the partners anticipate that the capital value of this asset will be in excess of 150 billion INR. In addition, last year we did certain business developments in the sonar market which is one of our key focus markets. We spent upwards of 7 billion INR and added close to 2 1/2 million square foot. This business development was lower than what we’ve been doing over the last couple of years. But we were just treading a little cautiously in the previous year given all the macro headwinds.
As a result, we start this year with a very strong BD pipeline which we can execute. At the same time we’ve also started this year with a very good liquidity position because of both our operating cash flows as well as the consideration out of the RMZ trade. Talking about some numbers, we did revenue recognition of close to 26 billion in area and value terms this was about 3.75 million square foot of area got completed and the average realization of the area which got completed was about 68,6900 rupees per square foot.
We generated a gross profit margin of about 30% EBITDA margin of 9 to 10%. And courtesy the exceptional item which is this transaction, I think the pat surged to about 1100 plus crores so about another 11 billion plus of PAT the company generated. But if you look at the operating surplus we created an operating cash flow of close to 21 billion INR. And that could be split into three heads, three similar ish heads so to say. So about 1/3 of it, about 7 billion plus went into business development.
A similar number went towards debt reduction which really brought our net debt down to near zero levels. We’ve maintained over the last one or two years that from a development business perspective, since we are going through a good business cycle we do hope and we are now at a situation where net debt is actually down to a near zero level. It’s just 2 billion could have been positive to a minus 2 but by and large this is almost down to a zero level net debt position. And the balance of the OCF of the company was used towards approval cost for upcoming projects or for interest payments.
So that’s how this 21 billion-plus of operating cash surplus which the company generated through last year of operation went into business development, reducing debt as well as doing approval costs and making interest cost payments. So fairly good healthy cash position for the company. Fairly bullish on the, you know, business development prospects for the coming year. And as a culmination of, you know, as a best estimate basis, if we see the year going forward, we are estimating that, you know, we’ll do new launches in excess of 150 billion.
A bulk of this is coming through launch of certain group housing projects, the first and foremost being in Sector 71. Even Pradeep ji updated that we’ve done a tie up with Tonino Lomborghini to do a branded residence over some 12 plus acres of land and a little excess of 2 million square foot in Sector 71 Gurgaon, followed by two more launches in the group housing category itself which will take our yearly launch target in excess of 150 billion. In addition we expect to do sales which are nearing 100 billion.
We achieved this mark in fiscal 25, but feeling confident at the start of the year that we should be able to achieve this mark again during the current year both on the bank of good launch pipeline as well as certain inventory hand. So as a mix of both we are hopeful of achieving sales in excess of 100 billion. Completion and collection go hand in hand and hence we’ve kept a target of 50 billion for both of these metrics. Revenue recognition of 50 billion which means we’ll have to do completions in the range of 60 to 65 billion and even collections.
We are expecting it to cross 50 billion in the year to come. So that’s the broad perspective on the guidance for the current year. This is a brief of the year gone by and what we expect in the year to come. Happy to take any questions from your side.
Questions and Answers:
Operator
Thank you very much sir. Ladies and gentlemen, we will now begin with the question and answer session. Anyone who wishes to ask questions may please press Star and one on their touchtone phone. If you wish to withdraw yourself from the question queue, you may press star and 2. Participants are requested to use only handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. You may please press Star and one to ask questions. The first question is from the line of Parve Qazi from Nuvama Group.
Please go ahead.
Parvez Akhtar Qazi
Hi, good morning. Thanks for taking my question. So my first question is regarding our launch pipeline of 150 billion. Would be great if we could get some more color one with regards to the timeline of various launches across the four quarters in FY27 and also the potential GDV and the location of these projects. Thank you.
Rajat Kathuria
Hi Pervez. Morning. So the first launch is so you could split the launch into three different sets. The first launch is the quarter one which is roughly 2 million square foot which is these branded residences in Sector 71 under the brand name of Tonino Lomborghini. So that’s planned for quarter one of this year. The second launch would be again a similar quantum, but that would be more towards or timed more around the Diwali time, you know, Q2 Q3, not at the beginning part of Q2 but you know, towards later part of Q2 or sometime in Q3.
Q3 is when, you know, the second launch is being planned again in sector 71 and the third launch will be towards, you know, the fourth quarter wherein as part of this, you know, trade which we’ve done with rmz, while the trade is for the commercial portion of the development, there’s a residential component which is held hundred percent by the company. We did not divest it, rather carved it out into a parent before doing getting into that partnership. There’s another 2 million square footage of very prime land, you know, which is right at the frontage of the southern peripheral road.
So another 2 million square foot is expected towards the later part of the year as part of that development. So that’s the split off as visible as of now for the entire year. All these land parcels are completely tied up. We have, you know, full approvals for the first project and you know, fairly advanced approvals for the other two projects which we intend to launch as part of this year.
Parvez Akhtar Qazi
A related question, we do we have any launch plans for either sector 37D or sauna this year?
Rajat Kathuria
We have, we’ll have a smaller launch. In Sonar there was certain inventory which was, you know, held by us, you know, that
Pritesh Sheth
We
Rajat Kathuria
Do intend to launch as part of project Duction during, during the course of the year and in 37D we are not launching up maybe a new project, but yes, a kind of a phase two of project server is something which, you know, we will do as part of this year. But that’s not like a fresh new launch. It’s. It’s more like, you know, part of something, a larger project which we’ve launched and under that banner, you know, some of the inventory will be, you know, getting released during the year.
Parvez Akhtar Qazi
Sure. And my second question is regarding our PD approach. So I, I mean we obviously have a very strong balance sheet position now. So what is our overall PD approach? Do we want to acquire more land in the three micro markets where we are present or we are looking for land parcels in maybe other parts of Gurgaon or other parts of ncr. How should one look at it?
Rajat Kathuria
So see we are focusing on two markets and product segment in terms of BD right now. One is in the sonar market. We are, we are quite actively, you know, looking at certain transactions and quite hopeful of closure in, you know, the first half of this year itself. So that would be a good addition to the entire portfolio. We’ve done a very successful launch of Dakshin in Sona and we want to create larger project and create newer inventory in this market. So Sona is one market where we are quite active.
Second, the way we did this project called City of Colors which was in Manisar, you know, last year. That’s again that was a plotted development comprising of residential and industrial plots. We are looking at some more project Stroke project of similar nature and hence certain larger format, you know, land parcels may be, you know, acquired stroke collaborated again hopefully within first half of this year itself.
Parvez Akhtar Qazi
Thanks. I’ll come back for more questions. Thank you.
Operator
A reminder to all the participants that you may please press star and one to ask questions. The next question is from the line of Rishit Shah from Access Capital. Please go ahead.
Pritesh Sheth
Yeah, thanks for the opportunity. Sir, two questions from mine. First on the cash flow. So collections actually we started the year with about a 6,000 crore guidance and we understand that, I mean maybe construction was. Progress was maybe slower than expected and we ended at about 4000 crores. But for the next year we are again targeting about 5000 crores. So with the contractors and all appointed and construction, I mean progressing now, I mean. Would have expected a higher guidance on that. Any comments on that?
Rajat Kathuria
Yeah, it’s more like once within twice shy situation. We don’t want to kind of, you know, get sound very aggressive with regard to these plans. We are very. And if you’ll see even last year, you know, effectively see collection and completion will go hand in hand. We are giving a number on both these accounts which we feel is fairly achievable.
Pritesh Sheth
Sure. Okay. And secondly a bookkeeping question. So in ongoing projects what would be the value of the inventory that we have right now?
Rajat Kathuria
It’s very minimal. It would be about. I think it’s coming in the presentation. It’s probably 7 billion or something which you know, not the buns which we’ve recently launched over there, that number will be closer to 70 to 80 billion things which we launched recently. But as part of the ongoing book I think that number is about 7 billion.
Pritesh Sheth
Okay, so about 80, 85 billion of total inventory including.
Rajat Kathuria
Yes,
Pritesh Sheth
Thanks.
Operator
Thank you. You may please press star and one to ask questions at this time. We’ll take the next question from the line of Adidev Chattopadhyay from ICICI Securities. Please go ahead.
Adhidev Chattopadhyay
Yeah, thank you for the opportunity. The first question is on our launches of 15,000 crores which you have lined up. So in our guidance for the year how much are we targeting to sell out of that as part of ballpark number?
Rajat Kathuria
So Aditya, see the first target as we launch any new project is to achieve, you know, that 40% sort of a benchmark number, you know, out of the launched value. Because you know, with a 40% achievement we are able to very comfortably cover the construction costs over the span of that project. So that tends to be our first primary target which we give to our sales team. So if you look at the balance sheet position of this entire 40 million in terms of recently launched and forthcoming projects, this 700 billion worth of GDV exists at the same time on the liability side in terms of actual net debt it is just 2 billion.
So honestly, a simple way to understand the balance sheet is that basis the operating cash flows earned over the last decade we’ve accumulated this portfolio of projects and of course proceeds from the IPO which came in. But there is no significant debt sitting on the books. So as we launch any new product, of course 40% is the minimum internal benchmark which we create. So if we launch products worth 15,000 crores we will target about 60 billion to be achieved out of these projects. And the balance, you know, give or take should come out of the sustenance, you know, sales being done by the company.
Adhidev Chattopadhyay
Okay, so 4,000 from sustainance and I think you mentioned almost 8,000 crores the inventory you have to sell or is that. Yes,
Rajat Kathuria
Yes. We
Adhidev Chattopadhyay
Are looking to monetize half the inventory this year from the sustenance projects and another 6,000 crore which is 40% of 15,000 crores. Yeah. Yes. Okay. The second question is. Now with the RMC I have done, could you just help us guide what are going to be the capex requirements of the next four, five years? And on the accounting, how does this work means is this something or JV off the books or will the entire capex come onto our books. How does it work in terms of the capex will only signature do it or RMZ will also take any question.
So just help us understand the structure now going forward. Yeah,
Rajat Kathuria
Commercially this is a 5050 joint venture. No one owns one share more than the other. So it’s absolutely equal share partnership with equal controlling rights both in terms of directors and any representation. It’s absolutely equal basis. Our skill sets, we’ve divided the roles and responsibilities. For instance, you know, the land was already in place. Any approvals related activity, something which we’ll take up any, you know, construction related activities because of our, you know, local presence is something, you know, which we’ll take up RNG in parallel.
While you know, design is a joint aspect but still, you know, they will take some lead on the design side and appointment of certain larger contractors with whom they have a good relationship and on the leasing side. So those are the aspects where while the decision making will remain joint but RMZ will take a lead as far as those aspects are concerned. In terms of capex, both the parties are open to taking construction loan for development of this asset and any contribution which the JV entity needs from both, you know, both parties can, you know, keep pumping in that much requisite equity from their own book to fund the particular development.
So about five and a half million square foot, you should assume, you know, capex in the range of about you know, 3,500 to 4,000 odd crores should happen by both the parties put together over the next four to four and a half years.
Adhidev Chattopadhyay
Okay. 35 to 4000 crores, which means around our share may be 1500 to 2000 crores. Right? Out of that.
Rajat Kathuria
Yes.
Adhidev Chattopadhyay
So you, but you are saying you may also take that at the, at that GB level, right? You may not. Okay, so I’m just to understand the accounting. Whatever money we put in will show up in the consolidated balance balance sheet as an investment in that jv. Right? It’s not a direct CAPEX which will come up right on the consolidated balance sheet. The understanding is correct.
Rajat Kathuria
I’ll ask Sanjeev to address this. Yeah,
Adhidev Chattopadhyay
Yeah, yeah, yeah.
Sanjeev Kumar Sharma
Hi Adi Dev, Sanjeev here. You are right. It is not going to be considered as a debt in the consolidated balance sheet. Whatever debt is being or will be taken by this JV, it will remain in JV’s book. And if as Rajat mentioned, if needed, both the partners may invest something in this JV in the form of equity that will definitely come as an investment as in the standalone and as well as the consolidated balance sheet. But you are right, that will not add up in the consolidated debt of the company.
Adhidev Chattopadhyay
Yeah. So just to declare for you, it will show up as an investment in the jv, right? If that whatever we are putting in money incrementally. Yeah.
Sanjeev Kumar Sharma
Yeah.
Adhidev Chattopadhyay
Okay. Okay. Okay fine. Yeah. Yeah. Okay. That’s it. From my side that answers my questions. Yeah, thank you. And all the best. Yeah,
Parvez Akhtar Qazi
Thanks.
Operator
A reminder to all the participants that you may please press star and one to ask questions. We’ll take the next question from the line of Parve Qazi from Nuvama Group. Please go ahead.
Parvez Akhtar Qazi
Hi, thanks for taking my follow up question. So, couple of questions first. I mean how do we see the Gurgaon market now? Obviously frenzy has abated, market has normalized. So what are your views on let’s say demand? I mean you just said that we would expect maybe 40% of our launches that we intend to do in FY27 to get sold. So what’s your view overall on demand and pricing and also on the unit sizes front? We are somewhere closer to about 4 crore. If one looks at our FY26 performance in future, will it remain somewhere around these levels or do we intend to rationalize it?
Rajat Kathuria
Sure. Thanks for asking this question. So I’ll break up the supply and demand of units in Gurgaon in two key segments. So over the last 10, 11 years since the company came into existence, we’ve created a lot of supply in affordable and early mid income segments which was either these high rise affordable apartments or low rise floors under the Deindi al Janavas Yojana which used to exist for Gurgaon and still exists for areas on the peripheral areas of the Gurgaon market. So a lot of supply we created and of course other players also created in this market over the last 10 years and bulk of that launches are seeing have seen completion or are seeing completion over these years.
In parallel, what the launches which we are planning, which are these high rise apartments in this particular coming year, if you look at the block period between 2014 till about 2022 for the seven or eight years while the markets in general weren’t doing so well, there was literally zero supply of newer group housing units in Gurgaon throughout this seven, eight year span. We’ve seen quite a few launches in this market by a lot of good pedigree players post 2022. But none of that supply has actually reached a completion stage.
So while you may feel that okay, a lot of supply is happening but actually on ground There is very little sort of delivered units which are available in Gurgaon. And that’s why despite a run up in prices, prices continue to work because there isn’t adequate supply of good quality grade A good location, good developer grade A housing space spaces, you know, they’re not available in the kind of quantum one would assume or estimates them to be in the market. So that is why, you know, we continue to create more supply in this space.
We continue to see as a market, you know, prices still going up a little rather than coming down. And we feel confident that you know, any of these projects which are being launched by Signature Global, you know, will get like reasonable absorption of let’s say 40% plus at the time of launch itself. That’s been our kind of experience even in the previous year. And you know, we are fairly hopeful that you know, this trend is going to continue. There are certain global, you know, headwinds right now.
You know, no one can predict how that’s going to pan out for the country or for the region. But yes, you know, assuming the dust settles over, you know, some time, I think we have full year and with these two or three launches we are fairly hopeful of doing what we are guiding towards.
Parvez Akhtar Qazi
Sure. Second question, I mean of the two major projects that we launched in FY26, Fluordale and Servam, how much proportion would we have sold and what proportion proportion of the FY26 collections came from these two launch
Rajat Kathuria
Put together? I can share the specific number separately with you but put together, you know, if we did launches of 10,000 odd crores, I think we’ve, we’ve sold, we’ve done sales in excess of 4000 crores for entire bucket put together. So 40% plus sales did get achieved out of, you know, whatever launches as a basket we did in the previous year.
Parvez Akhtar Qazi
Sure. And lastly we did about 700 crore of media in FY26. Any target guidance for FY27?
Rajat Kathuria
The number for the current year I think should be in between thousand to fifteen hundred crores.
Parvez Akhtar Qazi
Sure. Thanks and all the best.
Rajat Kathuria
Thank you Parveesh.
Operator
Thank you Ladies and gentlemen. As there are no further questions, I now hand the conference over to the management for closing comments. Thank you. And over to you.
Rajat Kathuria
Okay, thanks a lot everyone. I think wishing you all a good day and a great year ahead. Thank you. Thank you. Thanks a lot. Thank you. Thank you.
Operator
Thank you members of the management on behalf of ICICI Securities. That concludes this conference. Thank you for joining us and you may now disconnect your lines. Thank you.