Starworth Expands Beyond Residential with Major Institutional Order

Puravankara's subsidiary, Starworth Infrastructure & Construction, has secured a construction contract worth Rs 280.35 crore from Vellore Institute of Technology for the development of an academic facility at its Vellore campus. The order involves the construction of the Ruby Block (Academic Block) Phase I at VIT, Vellore, Tamil Nadu.

This represents a strategic milestone for Starworth, diversifying its EPC portfolio beyond residential and commercial segments. The contract has been awarded by a domestic entity and is scheduled to be executed within 24 months. Structured as an item rate contract, the total accepted value stands at ₹280.35 crore, excluding GST. The announcement, made on March 17, 2026, triggered positive investor sentiment, with Puravankara shares trading 0.88% higher at ₹180.61 during trading, compared to ₹149.03 at the previous market close.

Starworth has been armed with expertise and capabilities in executing Puravankara group projects during the last 11 years and is in the process of spreading its wings into taking up third party contracts for execution as a new front for its expansion. The VIT project exemplifies this strategy. The 24-month construction period offers predictable revenue streams for the next two years. The project also broadens SICL's portfolio by adding institutional construction to its established experience in residential and commercial developments, enabling the company to utilize its operational capacity effectively.

The contract carries institutional credibility. Neither Puravankara's promoters nor promoter group entities have any interest in the awarding institution, and the contract does not qualify as a related party transaction. Starworth has already demonstrated scale in this arena—between August 2025 and January 2026, SICL secured various construction contracts ranging from ₹83.51 crore to ₹509.52 crore, indicating a steady stream of new business.

VIT Vellore, extending across approximately 372 acres in Katpadi, Vellore, Tamil Nadu, designed as a comprehensive academic township, is actively expanding. The Ruby Block project aligns with VIT's partnership with Schneider Electric to establish a Centre of Excellence in Smart City and Smart Factory Technologies at the university's Vellore campus, aiming to advance innovation, research and skill development in emerging fields critical to India's digital and sustainable transformation. This new contract is expected to substantially increase SICL's existing order backlog.