Mumbai, Aug 7 : Real estate developer Signature Global on Thursday reported a sharp 43.71 per cent drop in net profit for the first quarter (Q1) of FY26, coming in at Rs 34.4 crore compared to Rs 61.1 crore in the previous quarter (Q4 FY25).

The decline came even as the company witnessed strong growth in operational revenue -- highlighting rising expenses and lower other income during the quarter.

The revenue from operations jumped 66.33 per cent to Rs 865.6 crore in Q1 FY26, up from Rs 520.4 crore in the previous quarter, according to its stock exchange filing.

However, other income fell by 34.80 per cent to Rs 32.6 crore, down from Rs 50 crore in Q4.

As a result, total income stood at Rs 898.3 crore, marking a 57.49 per cent increase from the previous quarter's Rs 570.4 crore, the company said in its regulatory filing.

On the cost front, total expenses surged by 71.30 per cent to Rs 852.6 crore in Q1 FY26, compared to Rs 497.7 crore in Q4.

Despite the drop in profit, Signature Global maintained its expansion momentum. In line with its long-term growth strategy, the company acquired 9.96 acres of land in Sohna during Q1, with a development potential of around 0.53 million sq. ft.

Commenting on the performance, Pradeep Kumar Aggarwal, Chairman and Whole-Time Director of Signature Global, said, "Building on the strong momentum of FY25, we delivered a robust performance in the first quarter of FY26, with our operational revenue doubling year-on-year. This growth reflects our continued focus on customer satisfaction and the timely delivery of quality homes."

He added that the successful launch of the premium project Cloverdale SPR in Sector 71, along the Southern Peripheral Road, also contributed meaningfully to this quarter's numbers.

Looking ahead, the company said it has several new project launches in the pipeline and is confident of sustaining its growth trajectory.

Meanwhile, the company's board approved two key appointments during the quarter. Kundan Mal Agarwal was re-appointed as an Independent Director for a second term of five years starting April 2, 2026, subject to shareholder approval.

Additionally, M/s. Deepak Sharma & Associates were appointed as the Secretarial Auditor for a five-year term beginning FY25-26.

/IANS