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Axis Capital Recommends ‘Buy’ on Signature Global as Company Forays into Commercial Development

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New Delhi, February 18, 2026: Brokerage firm Axis Capital has recommended a ‘Buy’ rating on Signature Global (India) Ltd., citing the company’s recent strategic foray into the commercial real estate segment through a partnership with RMZ as a key growth driver. Axis Securities has maintained a ‘BUY’ rating on the company with a target price of INR 1,300 indicating a potential upside of up to 22 per cent in the stock price.

Signature Global’s stock opened at INR 1070.10 per share on February 18, 2026, in early trading hours.

Brokerage Firm Recommendations

Axis Capital, in its report, highlighted the following factors behind its ‘Buy’ recommendation on Signature Global (India) Ltd.

In line with its diversification strategy, Signature Global has announced its entry into the commercial real estate segment through a joint venture with RMZ, a leading leasing asset developer in South India.

The partnership involves the development of an office-centric, mixed-use Grade-A asset with a planned leasable area of around 5.5 million sq. ft. In addition to office space, the project will also include retail and hotel components.

The asset will be located on Southern Peripheral Road in Sector 71, Gurugram. While Signature Global brings strong execution capabilities and development experience, RMZ contributes its expertise in conceptualising and developing institutional-grade commercial assets.

Construction is expected to commence over the next six to nine months, with the project slated for completion in about five years. Upon completion, the company expects the office and retail segments to generate monthly rentals of approximately INR 125 per sq ft and INR 250 per sq ft, respectively.

As part of the transaction, RMZ will invest INR 12.8 billion in Gurugram Commercity Limited (GCL), a wholly owned subsidiary of Signature Global (India) Ltd., in return for a 50 per cent equity stake.

The entity has a total development potential of around 7.5 million sq ft, of which nearly 70 per cent (approximately 5.5 million sq ft) is earmarked for commercial development, while the remaining area is designated for residential use.

“The asset is still five years out. Hence, we do not see it impacting our revenues/earnings estimates till FY28E. While the transaction implies a land value of INR 26 billion, we have ascribed a development value of INR 34 billion, which post capex and future discounting, seems fair. We maintain our TP at INR 1,300,” noted Axis Capital in its report.

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