Puravankara subsidiary lands ₹509.52 crore construction contract

Starworth Infrastructure & Construction Limited (SICL), a wholly owned subsidiary of Puravankara Limited, has received a Letter of Acceptance for a turnkey civil, finishes, MEP, and external development project. The contract, valued at ₹509.52 crores, is for Varnam Phase1 at the One Bangalore Luxury Project (OBLP) located in Akalehahalli-Mallenhalli Village, Devanahalli Taluk, Bengaluru Rural District, Karnataka.

The project is a domestic item rate contract with a stipulated execution period of 36 months. The awarding entity is M/s. One Bangalore Luxury Projects LLP.

Puravankara Limited confirmed that neither the promoter, promoter group, nor group companies have any interest in the entity that awarded the contract. Furthermore, the contract does not fall under related party transactions and is executed at "arm's length."