Starworth Infrastructure & Construction Limited (SICL), a wholly owned subsidiary of Puravankara Limited, has been awarded a major contract for the Nature’s Nest residential project in Bangalore. Valued at approximately ₹144.45 Crore, the project covers a comprehensive scope of civil and structural work. The contract, awarded by NPS Developers, is expected to be completed within 28 months, further bolstering the company’s operational presence in the Karnataka real estate market.
Expanding Construction Capabilities
Starworth Infrastructure & Construction Limited (SICL) has received a Letter of Intent from NPS Developers to execute a prestigious residential project, Nature’s Nest, situated in Doddabanahalli, Bangalore. This development highlights the continued growth trajectory of the Puravankara subsidiary in managing large-scale residential infrastructure.
Project Specifications and Value
The contract is valued at approximately ₹144.45 Crore, excluding GST and labour cess. The project entails a broad scope of work, encompassing civil, structure, waterproofing, finishes, and allied works. As an item rate contract, it focuses on high-quality delivery across the residential site, which spans the Survey No. 54/4 location.
Operational Timeline
The execution timeline for the project is set at 28 months. Puravankara Limited confirmed that this contract is an independent business arrangement and does not involve the promoter group or related parties, ensuring the project remains at arm’s length. This project adds significant value to the subsidiary’s portfolio, enhancing its reputation for delivering complex residential projects within specified timeframes.
Source: BSE
