Starworth Secures Rs 272 Crore EPC Contract

Puravankara Limited announced that its wholly owned subsidiary, Starworth Infrastructure & Construction Limited, has received a Letter of Intent for a major civil and finishing works contract. The project pertains to the construction of a residential apartment complex named "TRU AQUAPOLIS," located in Varthur, Bengaluru, and the contract has been awarded by TRU Dwellings Private Limited.

The nature of the order is an EPC-commercial contract, with a total value of ₹272.02 crore, with the agreement outlining the scope of work as civil and finishing services for the upcoming apartment project. The contract is domestic in nature and will be executed as per the terms and timeline specified in the formal agreement between the two parties.

Markets reacted swiftly to the announcement. Shares of Puravankara Ltd rallied 6% in early trade after its wholly owned subsidiary, Starworth Infrastructure & Construction Limited, received the order, with the stock trading 5.38% higher at Rs 293.90 shortly after the disclosure. The rally extended through the session, with the stock climbing nearly 8% at one point to touch ₹301.25, marking a sharp turnaround after a seven-session losing streak.

Puravankara has confirmed that there is no promoter or related-party involvement in the awarding of this contract, keeping the transaction on an arm's-length, purely commercial basis. This clarification is standard for such disclosures and reassures investors that the order was won on merit rather than through internal group arrangements.

Starworth itself has a long track record within the Puravankara Group. Starworth is a 100% subsidiary of Puravankara Group, and in 2001 it was conceptualized as an internal engineering division before becoming an independent general contracting company to pursue external construction contracts as well as serve as a back-end service provider to the parent group. Over the years it has built a reputation delivering large-scale residential and commercial projects across South India, with over 16+ years of experience and more than 12 million sqft of quality construction to its credit.

The TRU Aquapolis order is only the latest in a string of external contract wins for Starworth over the past year, underlining its growing footprint as a third-party EPC contractor rather than just an in-house builder for Puravankara projects. The subsidiary has separately secured a ₹211.53 crore contract from SBR Builders for the 'SBR Global Queen's Ville' residential project, a ₹280.35 crore contract from Vellore Institute of Technology for the Ruby Block academic building at its Vellore campus, a ₹144.45 crore order from NPS Developers for the Nature's Nest residential project, and a ₹57.81 crore contract for the Westin Hotel project in Bengaluru's Whitefield area.

The contract win comes at a time when Puravankara is also expanding its own development pipeline. The company recently formed a joint venture with KVN Property Holdings LLP to develop 24.59 acres in North Bengaluru's KIADB Hardware Park, targeting over ₹3,300 crore in Gross Development Value and 3.48 million sq ft of saleable space, alongside plans to launch approximately 15 million square feet of new projects over the next 12 to 15 months. For homebuyers tracking Puravankara's Bengaluru portfolio, this steady flow of construction orders to Starworth signals continued execution capacity, which matters directly for delivery timelines on ongoing and upcoming projects.

Taken together, this development marks a significant addition to Starworth Infrastructure's project portfolio and reflects continued momentum in India's residential construction sector, reinforcing confidence in both the group's construction arm and its broader growth trajectory in FY26.