Puravankara’s Subsidiary Secures Rs. 510 Crore Construction Contract
Filing Summary
Puravankara Ltd’s wholly owned subsidiary, Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Acceptance for a construction contract valued at approximately Rs. 510 Crore. The contract involves turnkey civil, finishes, MEP, and external development work for Varnam Phase1 at One Bangalore Luxury Project in Bengaluru, Karnataka. The project is expected to be completed within 36 months. The contract was awarded by One Bangalore Luxury Projects LLP, and it is a domestic item rate contract. There are no related party transactions involved in this agreement.
Puravankara Ltd has announced that its wholly owned subsidiary, Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Acceptance for a construction project. The contract, valued at approximately Rs. 510 Crore, involves the construction of turnkey civil, finishes, MEP, and external development for Varnam Phase1 at the One Bangalore Luxury Project. This project is located in Akalehahalli-Mallenhalli Village, Kasaba Hobli, Devanahalli Taluk, Bengaluru Rural District, Karnataka.
The contract was awarded by One Bangalore Luxury Projects LLP. It is a domestic item rate contract, and the project is scheduled to be completed within a period of 36 months. The filing confirms that there is no interest from the promoter or promoter group in the entity awarding the contract, and the transaction does not fall under related party transactions.
The details of the contract were disclosed in accordance with Regulation 30 and Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The information was also aligned with the SEBI Master Circular dated November 11, 2024.
One Bangalore Luxury Projects LLP is involved in the development of luxury residential projects. The company focuses on delivering high-end residential spaces with modern amenities and infrastructure.
Puravankara Ltd is a prominent real estate developer in India, known for its residential and commercial projects. The company focuses on delivering quality construction and innovative design. It continues to expand its presence in key markets across India, catering to diverse customer needs.