Order Win / Contract Award

Puravankara Subsidiary Secures ₹144.45 Crore Residential Project LOI in Bengaluru

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BSE

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Puravankara Limited’s wholly owned subsidiary, Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Intent for a ₹144.45 crore residential construction project in Bengaluru from NPS Developers

PRICE-SENSITIVE TRIGGER

Event: Receipt of Letter of Intent (LOI) for Construction Contract

Type: Order Win / Contract Award

Impact: Positive

Immediate Effect: Strengthens order book visibility and execution pipeline for the construction subsidiary

Key Metrics:

Order Value: ₹144.45 crore (excluding GST & labour cess)
Execution Timeline: 28 months
Project Type: Residential construction

Highlight:

Mid-sized EPC contract adding to steady revenue pipeline

What Happened ?

Puravankara Limited announced that its wholly owned subsidiary, Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Intent (LOI) from NPS Developers.

The contract is for execution of civil, structural, waterproofing, and finishing works for a residential project “Nature’s Nest” in Bengaluru.

key highlights

Contract Scope & Execution:

Awarding entity: NPS Developers
Project: “Nature’s Nest” residential project
Location: Chinnagenahalli, Doddabanahalli, Bengaluru, Karnataka
Scope of work:
- Civil construction
- Structural works
- Waterproofing
- Finishing & allied works
Contract type: Item rate contract
Order value: ₹144.45 crore (excluding GST & labour cess)
Execution period: 28 months
Nature: Domestic project
No promoter group interest involved
Not a related party transaction

Note:

SICL acts as the execution arm for Puravankara, contributing to internal project execution and external EPC opportunities

Risk Analysis

Key Risks

Execution delays due to regulatory or site issues
Cost inflation (materials & labour)
Margin pressure in item-rate contracts
Real estate demand dependency
Client payment cycle risks

Worst Case Scenario

Delays or cost overruns could impact project profitability and cash flows

Risk Level: Medium

Company Commentary

LOI received for residential construction project
Strengthens construction pipeline of subsidiary SICL
Focus on execution of civil and finishing works
Continues to expand presence in Bengaluru market

Official Exchange Filing: Puravankara Limited