Puravankara’s Subsidiary SICL Wins ₹509.52 Crore Turnkey Construction Contract
The company just announced that its 100% subsidiary, Starworth Infrastructure & Construction Limited (SICL), has bagged a big-ticket turnkey contract worth ₹509.52 crore.
They’ve received the formal Letter of Acceptance (LoA) and have already informed BSE and NSE as per the usual SEBI rules.
What’s the project?
It’s the civil, finishing, MEP, and external development works for “Varnam Phase-1”, which is part of the One Bangalore Luxury Project. The site is in Akalehahalli–Mallenhalli village, near Devanahalli (Bengaluru Rural), Karnataka.
Timeline: 36 months from start, so a solid three-year runway for the team.
Key points from the filing:
– Purely domestic contract
– Item-rate basis
– Awarded by One Bangalore Luxury Projects LLP
– No related-party angle at all – completely arm’s length
This is easily one of the larger orders in SICL’s recent pipeline and further cements Puravankara’s play in the premium/luxury housing space in Bengaluru.