Starworth Infrastructure & Construction Limited (SICL), a wholly owned subsidiary of Puravankara Limited, has secured a significant contract for a residential project in Bengaluru. According to reports from CNBC TV18, the company received a Letter of Intent for executing civil, structural, waterproofing, finishes and allied works for the Nature's Nest project. The project is located at Chinnagenahalli, Doddabanahalli in Karnataka, and has been awarded by NPS Developers. The approximate contract value stands at ₹144.45 crore (excluding GST and labour cess).
As reported by CNBC TV18, the work is scheduled to be completed over a period of 28 months. This timeline provides adequate scope for the wholly owned subsidiary to execute the comprehensive civil and allied works contract for the residential project in Bengaluru's Doddabanahalli area.
According to the disclosure reported by CNBC TV18, Puravankara Limited achieved record sales of ₹7,407 crore for FY26, representing a 55% year-on-year growth. The company's customer collections remained robust, with Q4 collections rising 36% YoY to ₹1,213 crore, while FY26 collections increased 15% to ₹4,258 crore. The real estate developer demonstrated significant volume growth, with Q4 sales area more than doubling to 3.01 million sq ft, while FY26 sales area rose 28% to 7.25 million sq ft.
As reported by CNBC TV18, average price realisations improved meaningfully, increasing 21% YoY to ₹10,213 per sq ft in FY26. This improvement reflects better product mix and pricing power, demonstrating the company's enhanced market positioning and ability to command premium pricing for its residential projects.
According to CNBC TV18, shares of Puravankara Ltd ended at ₹217.00, up 0.57% or ₹1.24 for the day on the NSE on April 29 at 3:30 pm IST. The positive market response reflects investor confidence in the company's strong financial performance and new project wins, including this significant ₹144 crore contract for the Bengaluru housing project.
