Signatureglobal (India) Limited has approved the execution of transaction documents for a strategic joint venture with RMZ Group for a mixed-use project in Gurugram. The deal involves the sale of certain shares of Gurugram Commercity Limited (GCL), a wholly-owned subsidiary, to RMZ for an aggregate consideration of up to ₹1283 Crores. Upon completion, the Company and RMZ will each hold a 50% stake in GCL, which will cease to be a subsidiary of Signatureglobal. The joint venture aims to develop a mixed-use project spanning approximately 3.94 million square feet of FSI on the Southern Peripheral Road, comprising office buildings, hotels, and retail space. This marks Signatureglobal's first large-scale commercial real estate development leveraging its land portfolio. The collaboration leverages RMZ's expertise in commercial asset management and Signatureglobal's execution capabilities in the Delhi-NCR region. The total capital value of the development post-completion is expected to be between ₹14000 Crores and ₹16000 Crores (INR 140-160 Bn). The transaction is subject to certain conditions precedent and is expected to be completed by March 23, 2026. The Board meeting where this was approved commenced at 10:49 AM and concluded at 11:16 AM on February 14, 2026.
