Puravankara Limited has informed the Exchange about receipt of letter of intent by Starworth Infrastructure & Construction Limited, the wholly owned subsidiary of the Company
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Starworth Infrastructure & Construction Limited (SICL), a wholly owned subsidiary of Puravankara Limited, has received a Letter of Intent from Innmar Tourism and Hotels Private Limited. The contract involves civil, structure, waterproofing and allied works for a Westin Hotel project in Whitefield, Bangalore. The contract value is ₹ 57.8 crores (approximately ₹ 578 million) plus applicable taxes, duties and levies. The project has a duration of 20 months and is classified as an item rate contract. There is no related party connection between the promoter group and the entity awarding the contract.
This contract win strengthens the order book for Puravankara's construction subsidiary, providing revenue visibility for the next 20 months. The deal size of ₹ 57.8 crores represents meaningful incremental business for the subsidiary.