Puravankara Ltd has announced a major contract win for its subsidiary company, with Starworth Infrastructure securing a Letter of Intent for a substantial infrastructure project. The development marks a significant milestone for the company's construction and infrastructure operations.

Project Details

The project contract details highlight the scale and timeline of this new undertaking:

Strategic Significance

This contract award represents a substantial addition to Starworth Infrastructure's project portfolio. The ₹311.18 crore project value demonstrates the subsidiary's capability to secure large-scale infrastructure contracts, which could contribute significantly to the parent company's revenue stream over the execution period.

Execution Timeline

The 37-month completion timeline indicates a long-term project commitment, providing revenue visibility for Starworth Infrastructure over the next three years. This extended execution period suggests the project involves substantial infrastructure development work that will require sustained operational focus and resource allocation.

The Letter of Intent status indicates the formal commencement of the project engagement, setting the foundation for the detailed project execution phase. This development strengthens Puravankara's infrastructure business segment through its subsidiary operations.

Puravankara Limited has disclosed a violation of its Code of Conduct to Regulate, Monitor and Report Trading by Designated Persons and Immediate Relatives under SEBI's Prohibition of Insider Trading Regulations. The company reported the incident to BSE and NSE on January 6, 2026, in compliance with regulatory requirements.

Details of the Violation

The violation involved Mrs. Sonika Agarwal, wife of designated person Mr. Raj Kumar Agarwal, who conducted unauthorized trading activities. The specific breach occurred when she sold 550 equity shares of the company within six months from the date of acquisition, contravening the established trading guidelines.

Company's Response and Actions

Puravankara Limited has implemented comprehensive corrective measures following the discovery of this violation. The company issued written warnings to both Mrs. Sonika Agarwal and Mr. Raj Kumar Agarwal, emphasizing the need for strict compliance with the Code of Conduct and SEBI PIT Regulations in future transactions.

The company directed Mrs. Sonika Agarwal to disgorge profits from the unauthorized trade amounting to ₹2,837.00 through online remittance to SEBI's Investor Protection and Education Fund. Additionally, a penalty of ₹5,000.00 was levied on Mr. Raj Kumar Agarwal as the designated person responsible for ensuring compliance.

Financial Remediation

Both the profit disgorgement and penalty amounts were transferred to SEBI's Investor Protection and Education Fund on January 6, 2026, through online payment methods.

Company's Position

Both Mr. Raj Kumar Agarwal and Mrs. Sonika Agarwal confirmed in writing that the violation was inadvertent and unintentional, stating they were not in possession of any unpublished price sensitive information during the trades. They have committed to exercising greater caution in future transactions and ensuring full compliance with regulatory requirements.

Puravankara Limited maintains a zero-tolerance policy for violations of the Code of Conduct and SEBI PIT Regulations. The company believes the implemented measures appropriately address the violation while serving as a deterrent for future instances by designated persons or their immediate relatives. This marks the first reported violation since the last financial year, with no previous instances on record.