Puravankara Subsidiary SICL Secures ₹144.45 Crore Contract for Residential Project
Puravankara Limited's subsidiary, Starworth Infrastructure & Construction Limited (SICL), received a Letter of Intent for civil, structure, waterproofing, finishes, and allied works for the 'Nature's Nest' residential project. The contract value is approximately ₹144.45 Crores, excluding GST and Labour Cess, with an execution period of 28 months.
The contract value of ₹144.45 Crores is substantial and is expected to contribute to the company's revenue over the 28-month execution period, indicating a medium impact.
The announcement details a new contract win for a subsidiary, which is a positive development for the company's business growth.
Puravankara Limited announced that its wholly-owned subsidiary, Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Intent for a significant project.
The contract, valued at approximately ₹144.45 Crores (excluding GST and Labour Cess), is for the execution of Civil, Structure, Waterproofing, Finishes, and Allied works for the residential project named ‘Nature’s Nest’. This project is located at Survey No. 54/4, Chinnagenahalli, Doddabanahalli, Bangalore District, Karnataka - 560049, and is being developed by NPS Developers.
The execution of this item rate contract is expected to be completed within a period of 28 months. This development signifies a new order for SICL and contributes to Puravankara Limited's ongoing business activities.
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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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