Puravankara arm wins ₹509.5 crore construction LoA for Bengaluru luxury project

Puravankara Limited on Wednesday said its wholly owned subsidiary, Starworth Infrastructure & Construction Ltd (SICL), has received a Letter of Acceptance (LoA) worth ₹509.5 crore for a major construction project in Bengaluru.

The LoA, awarded by One Bangalore Luxury Projects LLP, covers turnkey civil works, finishes, MEP, and external development for the Varnam Phase 1 section of the One Bangalore Luxury Project located in Devanahalli, Bengaluru Rural District. The contract is to be executed over 36

months.

The order adds to Puravankara’s project pipeline at a time when the company is navigating a mixed financial performance.

Last month, the realty developer reported a net loss of ₹41.79 crore for Q2 FY26, widening from a ₹16.78 crore loss a year earlier. Revenue, however, grew 29.9% year-on-year to ₹644.4 crore, while EBITDA declined 7.3% to ₹104.47 crore. EBITDA margin slipped to 16.2% from 22.7% in the same quarter last year.

Puravankara clocked sales of ₹1,322 crore in Q2 FY26, up 4% year-on-year, with volumes of 1.5 million sq ft and a 7% rise in average realisation to ₹8,814 per sq ft. For H1 FY26, total sales stood at ₹2,445 crore across 2.75 million sq ft.

Ahead of the announcement, shares closed at ₹244.90, up 2.74% on the NSE.