NewsPuravankara's Subsidiary SICL Secures ₹57.80 Crore Contract for Westin Hotel Project in Whitefield, BangalorePuravankara's Subsidiary SICL Secures ₹57.80 Crore Contract for Westin Hotel Project in Whitefield, Bangalore
Puravankara Limited's wholly owned subsidiary, Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Intent for an Item Rate Contract valued at ₹57,80,52,217 plus applicable taxes from Innmar Tourism and Hotels Private Limited. The contract covers Civil, Structure, Waterproofing and Allied works for the Westin Hotel project at Whitefield, Bangalore, with a 20-month execution timeline. The engagement is a domestic transaction with no related party involvement, disclosed under SEBI Regulation 30 on May 12, 2026.
*this image is generated using AI for illustrative purposes only.
Puravankara Limited has disclosed that its wholly owned subsidiary, Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Intent for a significant construction contract in Bangalore. The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and was communicated to the stock exchanges on May 12, 2026.
Contract Overview
SICL has been awarded an Item Rate Contract by Innmar Tourism and Hotels Private Limited for the execution of Civil, Structure, Waterproofing and Allied works for the Westin Hotel project. The project is situated at Survey No. 12, 13, beside Kundalahalli Metro Station, EPIP Area, Whitefield, Bangalore – 560 066. The contract is classified as a domestic engagement, with the awarding entity being a domestic company.
The key details of the contract are presented below:
| Parameter: | Details |
|---|---|
| Awarding Entity: | Innmar Tourism and Hotels Private Limited |
| Project Name: | Westin Hotel Project |
| Project Location: | Survey No. 12, 13, beside Kundalahalli Metro Station, EPIP Area, Whitefield, Bangalore – 560 066 |
| Scope of Work: | Civil, Structure, Waterproofing and Allied Works |
| Nature of Contract: | Item Rate Contract |
| Contract Value: | ₹57,80,52,217 plus applicable taxes, duties and levies |
| Contract Duration: | 20 Months |
| Domestic/International: | Domestic |
| Related Party Transaction: | No |
| Promoter/Group Interest in Awarding Entity: | No |
Regulatory Disclosure
The disclosure was filed in compliance with Regulation 30 read with Para B of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and 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 filing was signed by Sudip Chatterjee, Company Secretary & Compliance Officer of Puravankara Limited (ICSI Membership No.: F11373).
The company confirmed that neither the promoter, promoter group, nor group companies hold any interest in Innmar Tourism and Hotels Private Limited, and that the contract does not constitute a related party transaction.
Historical Stock Returns for Puravankara
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.05% | -4.30% | -0.70% | -12.63% | -12.51% | +159.90% |
How might this Westin Hotel contract win signal SICL's strategy to expand its third-party construction order book beyond Puravankara's own residential projects?
Could the successful execution of this hospitality sector contract open doors for SICL to bid on other premium hotel or commercial projects in Bangalore's rapidly developing Whitefield corridor?
What impact could a growing construction services revenue stream from SICL have on Puravankara's overall consolidated financials and valuation multiples going forward?
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