SignatureGlobal swings to profit as revenue rises 48.08% QoQ
Operating margin improved 17.30 percentage points, but other income contributed 58.79% of pre-tax profit.
Filed 05 Nov 2026, 16:27 IST · after market close · SignatureGlobal India Ltd (SIGNATURE)
Key takeaways
- Consolidated revenue rose +48.08% QoQ while expenses rose +24.37%, turning operating profit positive.
- Operating margin improved by 17.30 percentage points to 9.24% as revenue grew faster than costs, but remained 2.32 percentage points below the 262-peer median.
- Other income contributed 58.79% of pre-tax profit, making the return to Rs 66.91 cr of net profit less operationally clean.
Price around the results
Revenue recovery drives a sharp profit reversal
SignatureGlobal reported consolidated net profit of Rs 66.91 cr in Q2FY27, against a net loss of Rs 16.53 cr in Q1FY27. Revenue increased +48.08% QoQ, while expenses increased +24.37%, moving operating profit from a loss of Rs 44.51 cr to Rs 75.57 cr. The sequential improvement was therefore driven mainly by revenue scaling faster than the cost base.
Margin recovery came with a quality caveat
Operating margin expanded by 17.30 percentage points QoQ to 9.24% because expenses grew more slowly than revenue. Interest costs rose +2.09% and depreciation rose +25.25%, while the tax rate increased by 4.55 percentage points to 25.88%. Other income accounted for 58.79% of pre-tax profit, so the quarter's net profit included a substantial non-operating contribution.
Management flags H2 launches after a weaker H1
Management said H1 FY27 sales were INR 38.0 billion, compared with INR 46.6 billion in H1 FY26, and that its current focus is on sustaining last year's sales levels while keeping launches on track. The company said significant launches remain planned for H2 FY27 and that full-year launch guidance remains on track. Management also said it added approximately 10 million square feet to its portfolio in H1 FY27, including approximately 6.77 million square feet in Farrukhnagar, and entered a new NCR micro market. It reported achieving approximately 34% of its annual collection guidance.
Margin remains below the sector's reported median
At 9.24%, SignatureGlobal's operating margin was 2.32 percentage points below the 11.56% median for 262 Consumer Discretionary peers that had reported the same quarter. Compared with Q1FY27, this was a sharp reversal from a negative 8.06% operating margin. The results were filed after market close on 05 Nov 2026, so there is no filing-day market reaction to assess.
Q2FY27 at a glance
Consolidated figures as filed with NSE — cross-checked against an independent source.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹817 cr | ₹552 cr | +48.08% |
| Other income | ₹53 cr | ₹60 cr | -10.85% |
| Expenses | ₹742 cr | ₹597 cr | +24.37% |
| Operating profit | ₹76 cr | ₹-45 cr | — |
| Operating margin (%) | 9.24% | -8.06% | — |
| Interest | ₹30 cr | ₹29 cr | +2.09% |
| Depreciation | ₹9 cr | ₹7 cr | +25.25% |
| Profit before tax | ₹90 cr | ₹-21 cr | — |
| Tax | ₹23 cr | ₹-4 cr | — |
| Net profit | ₹67 cr | ₹-17 cr | — |
| EPS (₹) | ₹4.76 | ₹-1.18 | — |
Operating margin of 9.24% compares with a Consumer Discretionary sector median of 11.56% across 262 peers that have reported Q2FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | +1.69% | -0.33% |
Volume on the results session was 3.44× its 20-day average.
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- The company sold more than 675 units at an average ticket size of INR 55.9 million during H1 FY27.
- The company delivered housing projects totaling approximately 19.9 million square feet.
Guidance & outlook
- Significant launches are planned for the second half of FY27.
- Full-year launch guidance remains on track, with the remaining launches planned in H2 FY27.
- The company achieved approximately 34% of its annual collection guidance.
- The company is focusing on sustaining last year's sales levels while keeping launches on track.
Expansion
- The company added approximately 10 million square feet to its portfolio during H1 FY27 and entered a new NCR micro market.
- The company added approximately 6.77 million square feet in Farrukhnagar during H1 FY27.
- Forthcoming projects are planned to launch over the next two years.
- The company has 27.33 million square feet of forthcoming projects in its portfolio.
Problems & risks
- H1 FY27 sales were INR 38.0 billion, down from INR 46.6 billion in H1 FY26.
- The company said earlier pre-sales guidance reflected stronger visibility at the time and is now focused on sustaining last year's sales levels.
What to watch
- Whether the +48.08% QoQ revenue increase is sustained after revenue reached Rs 817.41 cr.
- Whether operating margin holds above 9.24% and narrows the 2.32-percentage-point gap with the sector median.
- Progress beyond the approximately 34% of annual collection guidance achieved and delivery of the H2 FY27 launches cited by management.