Intimation of Letter of intent received by M/s Starworth Infrastructure and construction Limited, wholly owned subsidiary of Puravankara Limited
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Puravankara's wholly-owned subsidiary, Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Intent from Innmar Tourism and Hotels Private Limited for civil, structural, waterproofing and allied works on the Westin Hotel project in Whitefield, Bangalore. The contract value is ₹57.80 crore (approx. ₹578 million) plus applicable taxes and levies. The project is located beside Kundalahalli Metro Station and is to be executed over 20 months. SICL is a construction-focused subsidiary of Puravankara, and this represents a new construction order win. The awarding entity is a domestic company with no related party connection to the Puravankara group.
This is a positive update showing SICL continues to win construction contracts, providing revenue visibility for the subsidiary over the next ~20 months. The ₹57.8 crore order adds to the subsidiary's order book.