Puravankara’s Subsidiary Starworth Infrastructure Wins ₹133 Cr Order From Embassy Eden

Synopsis:- In a disclosure filed with BSE and NSE on May 20, 2026, Starworth Infrastructure & Construction Limited the wholly owned construction subsidiary of Puravankara Limited has received a Letter of Intent from Sion Eden Developers Private Limited for civil and structural works at Embassy Eden, Bengaluru, valued at Rs.133.34 crore including GST, with a 34-month execution window.

Shares of a leading Bengaluru-based real estate developer came into focus after its wholly owned construction subsidiary secured a fresh civil and structural contract in the city, pointing to continued order accretion at the subsidiary level.

With a market capitalisation of Rs. 5,289.86 crore, the shares of Puravankara Limited were last recorded at Rs.223.06 per share, up 0.83 percent from its previous close of Rs.221.23. The stock is trading at a P/E of 91.48.

Starworth Infrastructure & Construction Limited (SICL) has received a Letter of Intent from Sion Eden Developers Private Limited for the execution of civil and structural works at Embassy Eden, Bengaluru. The contract, structured on an item rate basis, is valued at Rs.133.34 crore and carries a 34-month execution period from the date of site handover.

The item rate format means billing occurs at agreed unit rates against measured quantities, giving SICL predictable revenue recognition tied to physical progress rather than milestone-based disbursements. At Rs.133 crore over roughly three years, the contract contributes incremental revenue visibility to SICL’s order book, though it remains modest against Puravankara’s consolidated revenue of Rs.3,740 crore in FY26.

SICL operates as Puravankara’s in-house construction arm, executing civil and structural work primarily for the parent group’s residential projects. The subsidiary’s order accretion from third-party clients, when it occurs, offers a partial revenue diversification from Puravankara’s own development pipeline.

Business Overview

Puravankara Limited is a Bengaluru-headquartered real estate developer with completed projects across metro cities including Hyderabad, Chennai, Kolkata, Mumbai, Pune, and Goa, spanning 43 million square feet across 74 projects. For the March 2026 quarter, the company reported consolidated revenue of Rs.1,502 crore and a net profit of Rs.110 crore, a sharp reversal from a net loss of Rs.88 crore in the same quarter a year earlier. For FY26 as a whole, consolidated revenue stood at Rs.3,740 crore against a net profit of Rs.57 crore, with interest costs of Rs.679 crore weighing heavily on the bottom line.

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