Puravankara Subsidiary SICL Bags ₹57.8 Cr Westin Hotel Project Contract
Puravankara's subsidiary, SICL, received a Letter of Intent for the Westin Hotel project in Bangalore. The contract value is ₹57.80 crore plus taxes. Execution of civil, structure, waterproofing, and allied works will be completed in 20 months.
The contract value of approximately ₹57.8 crore is significant, contributing to the company's order book and future revenue, but it is not a transformative event for the entire company.
The announcement details a new contract win for a subsidiary, which is generally positive for business growth and revenue.
Puravankara Limited announced that its wholly-owned subsidiary, M/s. Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Intent for a significant project.
The contract, awarded by Innmar Tourism and Hotels Private Limited, is for the execution of Civil, Structure, Waterproofing, and Allied works for the Westin Hotel project located beside Kundalahalli Metro Station in Whitefield, Bangalore. The total contract value is ₹57,80,52,217 (Rupees Fifty-Seven Crores Eighty Lakhs Fifty-Two Thousand Two Hundred Seventeen only), plus applicable taxes, duties, and levies.
The scope of work is an item rate contract, and the project is expected to be executed within a period of 20 months. This development marks a new order win for SICL, contributing to the company's project pipeline.
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Puravankara Limited filed this with the NSE as a statutory disclosure, categorised under new orders. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Puravankara Limited. Read the original for the full detail.