Puravankara Subsidiary Starworth Wins Rs 509.52 Crore Construction Contract
Puravankara Limited shared new business news. The company said that its own company, Starworth Infrastructure and Construction, has received a big building project. The value of this project is Rs 509.52 crore. This amount is also called Rs 5.10 billion.
One Bangalore Luxury Projects LLP has assigned the new project. The project is named Varnam Phase 1. It is part of a larger project called the One Bangalore Luxury Project. The building work will happen in Bengaluru Rural District, Karnataka.
This project is turnkey. In this type of development, one company does all the work.
Starworth will build the main parts of the buildings. It will also do work inside the buildings. This includes walls, floors, and other inside areas.
The project also includes electrical work, like lights and wiring. It includes water pipe work, like taps and drainage. Some machine-related work needed for buildings is also part of the project.
Work outside the buildings is included too. This means working in open areas around the buildings.
The building work will take place at Akalehahalli–Mallenhalli Village, Kasaba Hobli, Bengaluru Rural District, Karnataka.
The company said Varnam Phase 1 will take 36 months to finish. The work will take three years.
| Detail | Information |
|---|---|
| Project Value | Rs 509.52 crore (Rs 5.10 billion) |
| Company Doing the Work | Starworth Infrastructure and Construction |
| Parent Company | Puravankara Limited |
| Company Giving the Project | One Bangalore Luxury Projects LLP |
| Project Name | Varnam Phase 1 |
| Location | Bengaluru Rural District, Karnataka |
| Type of Project | Turnkey |
| Work Included | Building work, interior work, electrical and water works, external development works |
| Time to Finish | 36 months |
Puravankara also shared one more thing. The company said that its owners are not connected to the company that gave this project.
The project was given in a fair way. Puravankara shared this to keep investors informed.
Along with the project news, Puravankara shared some business numbers. The company said it had a net loss of Rs 417.9 million in the second quarter. The company spent more money than it earned.
At the same time, the company sold more. Sales went up by 30 per cent and reached Rs 6.442 billion. This shows sales improved even though profits were low.
The project, Varnam Phase 1, is crucial for Starworth. It gives the company work for the next three years. It also helps Puravankara stay active in big building projects. It also shows that companies trust Starworth to do large building work.
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