ICICI Securities has maintained a Buy rating on the company with a target price of INR 1,786, while Axis Capital and Nuvama have set their target prices at INR 1,780 and INR 1,376 respectively, indicating a potential upside of up to 75% in the stock price.

Signature Global’s stock opened at Rs. 1029.90 per share on November 11, 2025, in early trading hours.

During H1FY26, the company recorded strong pre-sales of INR 46.6 billion and reported revenue of INR 12.0 billion, with collections standing at INR 18.7 billion. The company expects collections to rise significantly in H2FY26 as key construction milestones are achieved in its high-value projects located in Gurugram.

Brokerage Firm Recommendations

ICICI Securities has maintained its BUY rating and has updated the target price to Rs 1,786, suggesting the stock could increase by 75%.

The brokerage firm noted that Signature Global has delivered 57% sales booking CAGR over FY21–25, largely through affordable/ mid-income housing projects.

ICICI Securities projects that, backed by Signature Global’s robust launch pipeline with a cumulative gross development value (GDV) exceeding INR 450 billion for FY25–28E, the company’s sales bookings are expected to reach INR 119 billion in FY26, INR 127 billion in FY27, and INR 139 billion in FY28.

Axis Securities expects a 74% upside in the company’s stock price and believes that Signature Global is well-positioned to achieve this target, driven by a strong launch pipeline of over INR 130 billion planned for the second half of the fiscal year.

“We expect construction of new projects to pick up sequentially from here on, which, with healthy bookings at new launches, will drive collections and OCF,” Axis Capital said in its report.

Nuvama has also maintained its BUY rating with a target price of Rs. 1,376 per share.

“Despite being a relatively new entrant, Signature Global has emerged as one of the largest developers in the Gurugram housing market in terms of sales bookings over the past few years,” Nuvama said in its report.

“One of the biggest factors in SGIL’s success is the fact that the company has been able to acquire land at very attractive prices. On average, land/approval-related costs for the company are 10–15% of the selling price,” the report added.

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Axis Capital has maintained a Buy call with a target price of Rs. 1,780, while ICICI Securities has set a target of Rs. 1,742, indicating a potential rise of up to 60% in the stock prices.

Signature Global’s stock opened at Rs. 1,147.80 per share on August 11, 2025, in early trading hours.

During the first quarter of the current fiscal, the company’s revenue more than doubled year-on-year to Rs. 870 crore, driven by the delivery of 1.4 million sq ft, while Profit After Tax surged five-fold to Rs. 34.4 crore.

Brokerage Firm Recommendations

Axis Capital has maintained its BUY rating and has maintained the target price of Rs 1,780, suggesting the stock could increase by 60%.

The brokerage firm noted that Signature Global has delivered 57% sales booking CAGR over FY21–25, largely through affordable/ mid-income housing projects.

During Q1FY26, Signature Global recorded sales bookings of Rs. 2,640 crore and is targeting Rs. 12,500 crore for FY26, reflecting a 20% growth.  and is targeting to maintain a 20% CAGR over the medium term.

ICICI Securities has also maintained its BUY rating with a target price of Rs. 1,742 per share, suggesting a 57% upside potential.

With a project pipeline of over ₹45,000 crore for FY25–28E, ICICI Securities expects Signature Global to achieve sales bookings of Rs. 13,000 crore and Rs. 14,700 crore in FY26 and FY27, respectively.

“The company sees scope for diversification beyond its established market presence in Gurugram and keenly awaits any new policy framework. This would entail many areas opening up in the city of New Delhi, NCR where greenfield development is possible,” ICICI Securities said in its report.

Signature’s business model is unique. The company does not operate as a land aggregator; instead, it focuses on launching and completing projects within 4–5 years, reinvesting the surplus for growth, and maintaining a land bank reserve sufficient for 4–5 years at any given time, the brokerage firm noted.

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In June 2023, ICICI Securities announced a plan to delist its shares from the stock exchanges and eventually become a wholly-owned subsidiary of its parent, ICICI Bank. The scheme offers 67 shares of ICICI Bank to shareholders of ICICI Securities for every 100 shares they held.

However, a minority shareholder Manu Rishi Gupta, who holds 0.002% of ICICI Securities, and Quantum Mutual Fund with a 0.08% stake, opposed the delisting separately, claiming that the swap ratio was unfavourable to minority shareholders. However, NCLT dismissed their objections and upheld the scheme which was previously approved by 93.8% shareholders of ICICI Securities.

While challenging the objections ICICI Securities argued that the two applications filed against the company’s proposed delisting were in complete derogation of the principle of shareholder democracy. It also argued that the applicants have no locus standi whatsoever as the proviso to Section 230(4) of the Companies Act demands that any objection to a scheme of arrangement under Section 230 of the Act shall be made only by persons either holding at least 10% of equity or 5% of debt.

Post delisting, market experts say, shareholders of ICICI Securities will gain by getting shares of ICICI Bank which provides enhanced liquidity and better price discovery, compared to the inherently volatile of broking business.

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