Puravankara’s stock gained more than 2% in early trade after its subsidiary, M/s Starworth Infrastructure & Construction Limited (SICL), announced that it has secured a major construction mandate for the One Bangalore Luxury Project (OBLP). The company confirmed that SICL has received a Letter of Acceptance from One Bangalore Luxury Projects LLP for the development of Varnam Phase 1, a premium residential segment of the larger luxury township.
The scope of the contract includes complete turnkey civil works, finishes, MEP systems, and external development at the Akalehahalli-Mallenhalli Village site in Devanahalli, Bengaluru Rural. The project, situated in one of Bengaluru’s fast-growing luxury corridors, is expected to significantly enhance SICL’s order book and execution pipeline. The contract is valued at ₹509.52 crore and will be executed over a period of thirty-six months under an item-rate agreement.
Puravankara clarified that the awarding entity is a domestic LLP with no promoter or related-party linkages to the group. This ensures that the contract is an entirely arm’s-length commercial engagement, further underscoring the operational credibility of SICL in the construction and infrastructure space.
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