Puravankara’s wholly owned subsidiary Starworth Infrastructure & Construction has received a Letter of Award (LoA) for a large construction contract valued at ₹5.1 billion, significantly enhancing its external order book and execution pipeline. The win underscores Starworth’s growing credentials in high-value residential and commercial projects and supports Puravankara’s cash flow visibility.
Deal overview
Starworth Infrastructure, an unlisted material subsidiary of Puravankara Ltd, has secured an LoA for a domestic construction project worth about ₹5.1 billion (₹510 crore). The contract is for core and shell works with finishes for a large-scale real estate development, to be executed as per timelines stipulated in the LoA.
The awarding entity is a third-party domestic developer, and Puravankara has clarified there is no promoter or related-party interest involved in the transaction. The order will be recognized progressively based on project milestones, adding meaningful revenue and margin visibility over the execution period.
Key highlights
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Contract value: Approximately ₹5.1 billion (₹510 crore) construction order.
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Recipient: Starworth Infrastructure & Construction Ltd, wholly owned subsidiary of Puravankara Ltd.
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Scope: Core & shell plus finishing works for a large real estate project.
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Nature: Domestic, EPC-style building contract; non–related party, no promoter group interest.
Strategic impact:
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Strengthens Starworth’s position as a third-party construction player beyond in-house Puravankara projects.
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Enhances medium-term order book and execution pipeline, supporting revenue visibility for the group.
Sources: BSE & NSE exchange filings by Puravankara Ltd