Signature (IFC-41206)

  • India
Geographic location where the impacts of the investment may be experienced.
Specific Location
Gurgaon, Haryana
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Construction
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 30.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 11, 2019

Disclosed by Bank Mar 1, 2019

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the bank, "the proposed project involves development of affordable housing projects primarily in Gurgaon in the state of Haryana by Signature Global India Private Limited (“Signature” or the “Company”; Website: The proposed Project is expected to deliver approximately 8,000 units in the next 4-5 years, with a total saleable area of approximately 5 million square feet and is mostly targeted at low to middle income population. Signature is a leading real estate company in India developing only affordable housing projects. It was founded in 2014 and till date has launched approximately 11,000 affordable housing units with a total saleable area of approximately 7.5 million square feet within a span of 5 years, a large chunk of which lies in the National Capital Region.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

According to IFC, 76 percent of the equity shares of the Company are currently held by Mr. Pradeep Aggarwal, Mr. Ravi Aggarwal, Mr. Lalit Aggarwal, Mr. Devender Aggarwal, related Hindu Undivided Family (HUF)) and their family members (collectively the sponsors ) while the balance 24 percent is held by other individual investors. The sponsors have demonstrated their ability to spot a business opportunity and build a focused business at scale in their previous stint at SMC Group, where they were occupying key managerial positions. SMC Group is a diversified financial services company engaged in broking, trading, investment banking, wealth management, research, distribution of financial products and depository and clearing services.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Signature Global (India) Private Limited Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

SignatureGlobal (India) Private Limited
Ravi Aggarwal
Managing Director
1304, 13th Floor, Dr. Gopal Das Bhawan, 28 Barakhamba Road, Connaught Place, New Delhi-110001. 


The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at You can learn more about the CAO and how to file a complaint at

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