Puravankara Ltd has announced a significant contract win for its construction subsidiary, marking another milestone in the company's project execution capabilities. The realty firm's wholly-owned subsidiary Starworth Infrastructure & Construction Ltd (SICL) has secured a major residential construction project in Bengaluru.

Major Contract Details

The subsidiary received a letter of intent from Sattva Resi Pvt Ltd for the construction of residential project Sattva AANGANE, located in East Taluk, Bengaluru. The project specifications and financial details are outlined below:

Puravankara clarified that there is no promoter or group interest in the awarding entity and that the order does not qualify as a related-party transaction, ensuring transparency in the business arrangement.

Recent Order Book Expansion

This latest contract adds to the subsidiary's growing order book. In October, SICL received another substantial order worth ₹211.53 crore from SBR Builders for the construction of core & shell with finishes works for the proposed residential project "SBR Global Queen's Ville". These consecutive order wins demonstrate the subsidiary's strengthening position in the construction segment.

Financial Performance Overview

Despite the positive business developments, Puravankara's recent quarterly results showed mixed performance indicators:

While the company achieved strong revenue growth of 29.9% year-on-year, reaching ₹644.40 crore, it reported a wider net loss of ₹41.79 crore compared to ₹16.78 crore in the same period last year. The EBITDA declined by 7.3% to ₹104.47 crore, with margins compressing significantly from 22.7% to 16.2%.

Market Response

Shares of Puravankara were trading 0.47% higher at ₹232.84 on the NSE, reflecting investor confidence in the company's order book expansion and business development initiatives in the construction segment.

Puravankara Limited announced that its wholly owned subsidiary has secured a substantial construction contract worth ₹311.18 crores for a residential development project in Bangalore. The Letter of Intent was received by Starworth Infrastructure & Construction Limited (SICL) on January 13, 2026, marking a significant business development for the company.

Project Details and Scope

The construction contract involves the development of "Sattva AANGANE," a proposed residential project with an approximate built-up area of 30,36,458 square feet. The project is located in East Taluk, Bangalore - 560049, positioning it in one of the city's developing residential corridors.

Contract Structure and Terms

The agreement has been structured as a domestic item rate contract, awarded by M/s. Sattva Resi Private Limited. The contract value of ₹311,18,40,336 represents a significant addition to SICL's order book, with execution scheduled over a 37-month period.

Corporate Governance and Compliance

Puravankara Limited has confirmed full compliance with regulatory requirements under Regulation 30 and Schedule III of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company disclosed that:

• No promoter or promoter group companies have any interest in the entity awarding the contract
• The contract does not fall within related party transactions
• All terms are conducted at arm's length

Subsidiary Information

Starworth Infrastructure & Construction Limited operates as a wholly owned subsidiary of Puravankara Limited, focusing on construction and infrastructure development activities. This contract award demonstrates the subsidiary's capability to secure large-scale residential construction projects in key metropolitan markets.

The announcement was made through official communication to both BSE Limited and National Stock Exchange of India Limited, signed by Company Secretary & Compliance Officer Sudip Chatterjee, ensuring full transparency and regulatory compliance.