Puravankara Limited has announced that its wholly owned subsidiary Purva Oak Private Limited has received Maharashtra Real Estate Regulatory Authority (MahaRERA) approval for launching Tower D in its existing residential project 'Purva Panorama'. The company informed stock exchanges about receiving the registration certificate as part of its normal business operations.

MahaRERA Registration Details

The new tower has received official approval from Maharashtra RERA with comprehensive registration specifications:

Product Specifications

The company has provided comprehensive details about the new tower launch as per regulatory requirements:

Regulatory Compliance Framework

Puravankara Limited made this announcement in compliance with Regulation 30 read with Schedule III of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure also follows SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The project details are publicly available on the RERA website at maharerait.maharashtra.gov.in, ensuring transparency for potential buyers and stakeholders. This launch represents the expansion of the existing Purva Panorama project, adding another residential tower to the development in the strategic Thane location.

The announcement was signed by Sudip Chatterjee, Company Secretary & Compliance Officer, and communicated to both BSE Limited and National Stock Exchange of India Limited on March 18, 2026.

Puravankara Limited has provided a corporate guarantee of Rs 50,00,00,000 (Indian Rupees Fifty Crores only) to its wholly owned subsidiary Starworth Infrastructure & Construction Limited. The guarantee has been issued in favour of SBM Bank (India) Limited and disclosed to stock exchanges on March 18, 2026, in compliance with regulatory requirements.

Transaction Details

The corporate guarantee has been specifically provided to facilitate Starworth Infrastructure & Construction Limited's purchase of construction equipment and materials. The transaction falls under the regulatory framework of Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance

The disclosure has been made pursuant to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 issued on July 11, 2023 and last updated on January 30, 2026. The company has confirmed that promoter, promoter group, or group companies do not have any interest in this transaction, with only Starworth Infrastructure & Construction Limited being the interested party.

Financial Impact

According to the company's disclosure, the corporate guarantee represents a contingent liability for Puravankara Limited. However, the company has stated that there is currently no impact of this guarantee on its operations, as it has been provided on behalf of a wholly owned subsidiary that forms part of the consolidated group.

Corporate Structure

Starworth Infrastructure & Construction Limited operates as a wholly owned subsidiary of Puravankara Limited, making this guarantee an intra-group transaction within the company's consolidated structure. The guarantee arrangement supports the subsidiary's operational requirements for construction equipment and materials procurement.