Puravankara Subsidiary Starworth Receives Letter of Intent for Westin Hotel Project
Puravankara Limited's subsidiary, Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Intent (LOI) for executing construction works at the Westin Hotel project in Bangalore. The contract, awarded by Innmar Tourism and Hotels Private Limited, covers civil, structural, waterproofing, and allied works.SICL, which operates as a wholly owned subsidiary of Puravankara Limited, was awarded the contract for the Westin Hotel project located at Survey No. 12,13, beside Kundalahalli Metro Station in the EPIP Area Whitefield, Bangalore -560 066, India.
The total contract value stands at ₹ 57,80,52,217 (Rupees Fifty Seven Crores Eighty Lakhs Fifty Two Thousand Two Hundred Seventeen only), plus applicable taxes, duties, and levies. The execution period for the contract is set for 20 months.
The key details of the contract awarded to SICL are summarized below:
| Particulars | Details |
|---|---|
| Awarding Entity | Innmar Tourism and Hotels Private Limited |
| Project Scope | Civil, Structure, Waterproofing and Allied works for Westin Hotel project - Survey No. 12,13. |
| Nature of Contract | Item rate Contract |
| Location | Beside Kundalahalli Metro Station, EPIP Area Whitefield Bangalore -560 066. |
| Contract Value | ₹ 57,80,52,217 (plus applicable taxes, duties and levies). |
| Time Period | 20 Months |
| Domestic Status | The awarding entity is categorized as a Domestic Entity. |
| Related Party Transaction | The contract does not fall within related party transactions, nor is there any interest from promoter/promoter group/group companies in the awarding entity. |
PURVA Stock Price Movement
Puravankara Limited shares today slipped by 1.38% to settle at ₹211.11. The stock traded on a volume of 141,991 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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