Puravankara Subsidiary Wins ₹509.5 Crore Construction Contract for Bengaluru Luxury Project

11 Dec 2025 , 02:41 PM

Puravankara Limited’s subsidiary, Starworth Infrastructure & Construction Ltd, has secured a sizeable construction mandate valued at ₹509.5 crore. The contract has been awarded through a Letter of Acceptance issued by One Bangalore Luxury Projects LLP, a well-known developer in the Bengaluru market.

This work relates to the Varnam Phase 1 development coming up under the One Bangalore Luxury Project in Devanahalli, located in the Bengaluru Rural region.

Starworth will be responsible for delivering the entire civil structure along with interior finishing works. The assignment also covers mechanical, electrical and plumbing activities, in addition to external development across the project site.

The execution window for the project has been fixed at 36 months, signalling a multi-year engagement and adding long-term visibility to Puravankara’s construction pipeline. With this order, Puravankara further expands its contracting portfolio and strengthens its position in the premium residential construction space, where demand has remained steady.

On the financial front, the company posted a net loss of ₹41.79 crore in Q2 FY26, higher than the loss of ₹16.78 crore reported in the same quarter a year earlier. Revenue for the quarter, however, increased 29.9% year-on-year to ₹644.4 crore, supported by a healthy scale-up in project execution. The company’s EBITDA stood at ₹104.47 crore, a drop of 7.3% from the year-ago period, as margins moderated to 16.2% versus 22.7% in Q2 FY25.

Sales bookings in the second quarter touched ₹1,322 crore, reflecting a 4% rise compared to last year and indicating sustained customer interest in the company’s ongoing developments. Total sales volume for the period reached 1.5 million sq ft, with the average realisation improving 7% to ₹8,814 per sq ft, signalling firmer pricing trends in the premium housing category.

In the first six months of FY26, Puravankara recorded ₹2,445 crore in total sales across 2.75 million sq ft, showing stable operational momentum despite the mixed earnings performance.

The fresh order from Bengaluru underscores the company’s ability to win large, high-value construction contracts even during phases when profitability remains under pressure. Bengaluru continues to be one of Puravankara’s strongest markets, and the latest project further anchors its presence in the city’s luxury and premium residential corridor.

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