Puravankara Limited has informed the Exchange about receipt of Letter of Intent by Starworth Infrastructure & Construction Limited, a wholly owned subsidiary of the Company from M/s. Sion Eden Developers Private Limited for Execution of civil and structural works
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Puravankara's wholly-owned subsidiary, Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Intent from Sion Eden Developers Private Limited. The contract involves execution of civil and structural works for Embassy Eden, a project in Bengaluru. The contract value is ₹133.34 crore (inclusive of GST). The order is domestic, structured as an item rate contract with a completion timeline of 34 months from the site handover date. SICL confirmed no related party interest in the awarding entity.
This is a positive development as it represents a new contract win for the subsidiary, adding to the order book of Puravankara's construction arm. The ₹133+ crore contract will provide revenue visibility for SICL over the next ~3 years.