Signature Global Net Debt Reduced by 16%
Robust Sales, Cash Flows Drive Reduction
Key Points:
* Signature Global's net debt decreased by 16% to Rs 980 crore in the June quarter. * Improved cash flows and strong sales contributed to the reduction. * The company aims to further reduce its debt through efficient cash management.Realty firm Signature Global has made significant progress in reducing its net debt, which currently stands at Rs 980 crore. This represents a 16% decrease compared to the previous quarter, primarily driven by improved cash flows and robust sales.
The company's enhanced cash flow position stems from its strong sales performance. Notably, Signature Global has witnessed a surge in sales, driven by the growing demand for affordable housing in India.
In addition to improving its cash flow, Signature Global has implemented stringent cost-control measures to reduce expenses. These initiatives have optimized operations and contributed to the company's overall financial health.
Going forward, Signature Global plans to continue focusing on efficient cash management to further reduce its debt. The company is confident that its robust sales pipeline and strong financial discipline will enable it to achieve its debt reduction goals.
The company believes that the real estate sector is poised for growth in the coming quarters, and it aims to capitalize on this opportunity by expanding its operations and increasing its market share.
Signature Global's debt reduction efforts underscore its commitment to financial prudence and sustainable growth. The company's strong financial position will provide a solid foundation for its future expansion plans.
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