Puravankara’s Subsidiary Secures Major Contract Worth ₹118.63 Crores

Puravankara Limited has made a significant announcement involving its wholly owned material subsidiary, Starworth Infrastructure and Construction Limited. The subsidiary has received a Letter of Intent (LOI) from Ranka Properties Private Limited for a major construction project. This development aligns with the company’s broader operational growth and was disclosed in accordance with SEBI’s listing regulations.

Contractual Scope and Project Details

Starworth Infrastructure has been awarded the Concrete and Blockwork Package for the upcoming project titled “Ranka Ankura.” The value of the contract stands at ₹118,63,32,966 reflecting the project’s scale and significance. The LOI was received on April 3, 2025, with the formal execution of the agreement currently underway. The transaction involves no shareholding, board representation, or related-party involvement. It represents a standalone, arm’s-length engagement aimed at operational expansion.

Regulatory Compliance and Corporate Impact

In its regulatory filing, Puravankara confirmed that the deal bears no impact on the management or control of the listed entity. There are no restrictions, liabilities, or share issuances attached to the agreement. The company clarified that Ranka Properties holds no affiliation with the promoter group. All disclosures were made in compliance with Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements, along with relevant circulars issued in November 2024.

Purvankara Share Performance 

As of April 07, 2025, at 10:25 AM, Purvankara share price is trading at ₹214.35 per share, reflecting a loss of 9.92% from the previous day’s closing price. Over the past month, the stock has registered a decline of 15.75%.

Conclusion

The agreement with Ranka Properties marks a strategic milestone for Starworth Infrastructure. It enhances Puravankara’s project pipeline while reinforcing its commitment to transparent and compliant business practices in the infrastructure sector.

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