Puravankara Limited has informed the Exchange about Receiving of Letter of Intent by M/s. Starworth Infrastructure and Construction Limited the Wholly Owned Subsidiary of the Company
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Puravankara's wholly owned subsidiary, Starworth Infrastructure and Construction Limited (SICL), has received a Letter of Intent from NPS Developers for civil, structure, waterproofing, finishes and allied works. The contract is for the residential project 'Nature's Nest' located in Bangalore, Karnataka. The approximate contract value is ₹144.45 crores (excluding GST and Labour Cess), with a completion timeline of 28 months. This is a domestic item rate contract and is not a related party transaction.
This order win strengthens the order book of Puravankara's construction subsidiary and should positively impact the company's revenue visibility over the next 28 months. The ₹144.45 crore contract represents a meaningful addition to the subsidiary's pipeline.