Puravankara Gets ₹311.18 Crore Order for Sattva AANGANE Residential Project

13 Jan 2026 , 01:48 PM

Puravankara Ltd on Tuesday, January 13, said its wholly owned subsidiary Starworth Infrastructure & Construction Ltd has received a letter of intent for a large residential construction project in Bengaluru valued at ₹311.18 crore.

The order has been awarded by Sattva Resi Pvt Ltd for the construction of a residential project titled Sattva AANGANE, located in East Taluk, Bengaluru.

Puravankara said the proposed residential project has an approximate built up area of 3.04 million square feet, making it one of the larger construction mandates secured by its construction subsidiary.

The company stated that the domestic project is expected to be executed over a period of 37 months, in line with the project delivery schedule outlined in the letter of intent.

Puravankara clarified that neither its promoters nor group entities have any interest in the awarding company, and confirmed that the order does not fall under the category of a related party transaction.

The company highlighted that this is the second major order secured by Starworth Infrastructure in recent months, following an earlier contract received in October 2025.

That earlier order was valued at ₹211.53 crore and was awarded by SBR Builders for the construction of core and shell, along with finishing works, for a residential project named SBR Global Queen’s Ville.

On the financial front, Puravankara reported a net loss of ₹41.79 crore for the second quarter of FY26, compared with a loss of ₹16.78 crore reported in the same quarter of the previous financial year.

Despite the wider loss, the company’s revenue for the quarter increased 29.9 percent year on year to ₹644.4 crore, up from ₹496 crore recorded in the corresponding quarter of FY25.

Operating performance saw some pressure, with EBITDA declining 7.3 percent year on year to ₹104.47 crore, compared with ₹112.67 crore in the year ago period. The company’s EBITDA margin declined to 16.2 percent, from 22.7 percent reported in the corresponding quarter of the previous financial year, reflecting higher costs and margin compression during the period.

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