Signature Global Enters Large-Scale Commercial Development; RMZ to Acquire 50% Stake in Subsidiary for ₹1,283 Crore Gurugram Project
New Delhi: Signature Global (India) Ltd. (BSE: 543990 | NSE: SIGNATURE), one of India’s leading real estate development companies, has entered into a strategic joint venture with RMZ Corp, a prominent developer and asset manager in the commercial real estate space, to develop a landmark mixed-use project on the Southern Peripheral Road (SPR) in Gurugram.
Under the agreement, the two companies will form a 50:50 joint venture, with RMZ committing an investment of ₹1,283 crore to acquire a 50% equity stake in the project. The development is expected to achieve a total capital value of approximately ₹14,000–16,000 crore upon completion, positioning it among the largest mixed-use projects in the region.
As part of the transaction, Gurugram Commercity Limited (GCL), a wholly owned subsidiary of Signature Global, has signed a Securities Subscription and Purchase Agreement (SSPA) with Millennia Realtors Private Limited, an RMZ entity. Through a combination of share purchase and fresh subscription, RMZ will acquire a 50% equity stake in GCL for a total consideration of up to ₹1,283 crore.
Strategically located along the rapidly developing Southern Peripheral Road corridor in Gurugram, the project will span a Floor Space Index (FSI) of approximately 3.94 million square feet. The proposed mixed-use development will comprise premium office spaces, hotels, and retail components, marking Signature Global’s first major entry into large-scale commercial real estate development within its existing land portfolio.
This venture represents a significant milestone in Signature Global’s portfolio diversification strategy. The partnership leverages complementary strengths — Signature Global’s proven execution capabilities, construction expertise, and strong operational understanding of the Delhi-NCR market, combined with RMZ’s extensive experience in designing, leasing, and managing institutional-grade commercial and mixed-use developments.
Commenting on the development, Pradeep Aggarwal, Founder & Chairman, Signature Global (India) Ltd., said, “Today marks an important milestone in Signature Global’s growth journey as we broaden our development portfolio with a large-scale mixed-use project. The Southern Peripheral Road has steadily emerged as a key hub for both residential and commercial development, supported by robust infrastructure and connectivity. Our partnership with RMZ brings together complementary expertise, enabling us to deliver a high-quality, future-ready development. This project reflects our commitment to creating long-term value and delivering best-in-class assets for our customers and stakeholders.”
Sharing his views on the collaboration, Manoj Menda, Corporate Chairman, Supervisory Board, RMZ, said, “We are pleased to partner with Signature Global on this significant mixed-use commercial development in Gurugram. The Southern Peripheral Road is rapidly emerging as a preferred commercial corridor, driven by strong occupier demand and improving infrastructure. The project aligns with RMZ’s focus on developing institutional-grade commercial assets with long-term leasing potential. Together, we aim to create a high-quality, future-ready commercial destination that delivers sustained value for occupiers and investors.”
With this collaboration, both companies are set to redefine the commercial landscape of Gurugram, further strengthening the city’s position as a premier business and investment destination in North India.