Puravankara Subsidiary Bags ₹83.5 Cr Bangalore Commercial Project! 🏗️
Hey there, finance enthusiasts! 👋 Let’s dive into some exciting news from the real estate sector. Puravankara Limited (NSE: PURVA), a well-known name in property development, has announced a significant win for its wholly-owned material subsidiary, Starworth Infrastructure & Construction Limited.
Starworth Infrastructure has successfully bagged a Letter of Indent valued at a whopping ₹83,51,50,254/- (that’s over ₹83.5 crore!) from M/s Krishil WhiteAlpha Private Limited. This substantial contract is for the construction of civil works for a commercial project aptly named “Luxon.”
📍 Where’s this happening? The project is set to rise in the bustling Doddanekundi Industrial Area, White Field, Bangalore, Karnataka. This marks another feather in Puravankara’s cap, strengthening its presence in the key South Indian market.
This is a purely domestic contract for a commercial building, and importantly, the company has confirmed that neither its promoters nor any group companies have an interest in the entity that awarded the order. Plus, it’s been conducted at “arm’s length,” ensuring a fair and transparent transaction.
For context, Puravankara’s stock recently closed at ₹275.2, experiencing a slight dip of 2.7%. This new contract win, announced for August 6, 2025, highlights the company’s ongoing operational momentum and its subsidiary’s capabilities in securing large-scale construction projects. It’s always good to see companies expanding their project pipeline! ✨
source: Corporate Announcement
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