Puravankara Subsidiary Bags ₹272 Cr EPC Contract for Bengaluru Residential Project

Shares of Puravankara Ltd surged 5.62% to ₹295.95 on Wednesday after its wholly owned subsidiary, Starworth Infrastructure & Construction, secured a ₹272 crore Letter of Intent (LoI) from Tru Dwellings for a major residential project in Bengaluru.

The order is for civil and finishing works on TRU AQUAPOLIS, a residential project scheduled in Varthur, one of East Bengaluru’s growth corridors. The project is an EPC – Commercial category project, and it is a domestic order.

While execution timelines will be finalized in the formal contract agreement, Puravankara clarified in its stock exchange filing that this is not a related party transaction. Neither the promoter, promoter group nor group companies have any financial or business interest in Tru Dwellings.

This move is at a time when Puravankara, India’s top real estate developer with headquarters in Bengaluru, is seeking to consolidate its presence in the residential space. The group has three brands Purva, Provident Housing, and Purva Land operating in luxury, premium affordable, and plotted development space, respectively.

Despite the new business momentum, the company’s financial performance in the March quarter was under pressure. Puravankara registered a consolidated net loss of ₹75.89 crore in Q4 FY25, a drastic contrast to a net profit of ₹6.50 crore in the corresponding quarter last year. Revenue too dipped sharply, with a year-on-year fall of 63.9% to ₹155.21 crore.