New Delhi: Signature Global (India) Ltd. on Monday announced that it has secured an investment of ₹1,293 crore from RMZ Group, which will acquire a 50% equity stake in Gurugram Commercity Limited (GCL), a former wholly owned subsidiary of the company.
Following the transaction, both entities will hold equal ownership in GCL and jointly develop a large-scale mixed-use commercial project on the Southern Peripheral Road (SPR) in Gurugram.
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According to the company, the proposed development will include office spaces, hotels, and retail components, with a total planned Floor Space Index (FSI) of approximately 3.94 million square feet.
The investment has been executed through a Securities Subscription and Purchase Agreement (SSPA) signed between Signature Global, GCL, and Millennia Realtors Private Limited, an RMZ entity. The transaction involved a combination of share purchase and fresh equity subscription.
The company stated that the project marks its entry into large-scale commercial real estate development within its existing land portfolio.
The development is expected to achieve a total capital value in the range of ₹14,000 crore to ₹16,000 crore upon completion, placing it among significant mixed-use projects in the Gurugram market.
The Southern Peripheral Road corridor has emerged as a key real estate zone in the National Capital Region, supported by infrastructure development and connectivity improvements.
Commenting on the development, Pradeep Aggarwal, Founder and Chairman of Signature Global (India) Ltd., said, “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.”
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He added that the partnership combines the execution capabilities of Signature Global with RMZ’s expertise in designing and managing commercial developments.
