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Investing.com - Axis Capital (NYSE:AXS) Limited has initiated coverage on SignatureGlobal India (SIGNATUR:IN) with a Buy rating and a price target of INR1,780.00, representing a potential 43% upside from current levels.
The Gurugram-based real estate developer has established itself as the fifth-largest listed real-estate player in India within a decade of its founding, according to Axis Capital analyst Pritesh Sheth.
SignatureGlobal has reported a 58% compound annual growth rate (CAGR) in pre-sales over FY22-25, attributed to its diversified segment mix and micro-market presence across the National Capital Region (NCR (NYSE:VYX)).
The company currently has 25 million square feet of forthcoming projects across its three core markets, with Axis Capital projecting a 19% CAGR in pre-sales from FY25-28E.
Axis Capital notes that SignatureGlobal’s plans to diversify its presence in Delhi and Noida enhance its growth visibility, while improved collections through execution progress could lead to a stock re-rating.
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