Puravankara subsidiary wins ₹311 crore for residential project in Bengaluru

Realty firm Puravankara Ltd. on Tuesday, January 13, said its wholly-owned subsidiary Starworth Infrastructure & Construction Ltd (SICL), has received a letter of intent for a large residential construction

project in Bengaluru worth ₹311.18 crore.

The order was awarded by Sattva Resi Pvt Ltd for the construction of the residential project Sattva AANGANE at East Taluk, Bengaluru, which has an approximate built-up area of 3.04 million square ft.

The domestic project is expected to be executed over a 37-month period. 

Puravankara clarified that there is no promoter or group interest in the awarding entity and that the order does not qualify as a related-party transaction.

The subsidiary in October 2025 received an order worth ₹211.53 crore. It was from SBR Builders for the construction of core & shell with finishes works for the proposed residential project, "SBR Global Queen’s Ville".

Puravankara had reported a net loss of ₹41.79 crore for the second quarter of FY26, wider than the loss of ₹16.78 crore in the same period last year. 

Revenue for the quarter grew 29.9% year-on-year to ₹644.4 crore from ₹496 crore in Q2 FY25. Earnings before interest, tax, depreciation, and amortisation (EBITDA) declined 7.3% to ₹104.47 crore from ₹112.67 crore a year ago. The company’s EBITDA margin fell to 16.2% from 22.7% in the corresponding quarter last year.

Shares of the company are 0.47% up at ₹232.84 on the NSE.

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