Affordable housing developer Signature Global has raised ₹400 crore from HDFC Capital Affordable Real Estate Fund 3 (H-CARE 3), a fund managed by HDFC Capital.
The funding will be used for land acquisition and project development in Haryana. Signature Global said it has robust plans to create affordable homes and community spaces in the coming years.
The Delhi-based company, which has projects in National Capital Region (NCR), is focused on developing affordable housing projects under Haryana’s affordable housing policy and developing independent floors under Deen Dayal Jan Awas Yojna affordable plotting policy.
Signature Global has earlier raised funds from HDFC Capital, KKR & Co. as well as World Bank’s investment arm International Finance Corporation, and is reportedly working towards a public listing.
“We have strong credentials of providing value homes at affordable prices to our customers. As one of the leading players in affordable housing, our focus has been to build a strong foundation through which we can launch many more affordable housing projects in north India. HDFC Capital’s investment is a significant achievement for us as it reposes faith in our execution capabilities,” said Pradeep Aggarwal, founder and chairman of Signature Global.
Source: Mint