Puravankara Ltd. (NSE: PURVA) Subsidiary Starworth Infrastructure Secures Key Construction Contract; Financial & Operational Overview

Puravankara Limited is pleased to announce a significant addition to its order book through its wholly-owned subsidiary, Starworth Infrastructure & Construction Ltd (SICL). This development reinforces the company’s execution capabilities in the premium residential segment. While Q2 FY26 presented profitability headwinds, top-line revenue growth and sustained sales momentum indicate underlying operational resilience. Key Development: ₹509.5 Cr Contract Win Awarding Entity: One Bangalore Luxury Projects LLP. Scope: Turnkey civil works, MEP (Mechanical, Electrical, and Plumbing), finishes, and external development. Project: Varnam Phase 1, One Bangalore Luxury Project, located in Devanahalli, Bengaluru Rural District. Value: ₹509.5 crore. Timeline: 36 months for execution. Strategic Impact: This contract significantly boosts the subsidiary's construction pipeline and provides revenue visibility over the next three years, aligning with the company's focus on large-scale execution in high-growth corridors like Devanahalli. While the recent contract win highlights future revenue potential, investors should note the mixed financial results for the quarter ending September 2025: Revenue Growth: Revenue from operations rose 29.9% YoY to ₹644.4 crore, demonstrating strong project completion capabilities. Profitability: The company reported a consolidated net loss of ₹41.79 crore (widening from a ₹16.78 crore loss in Q2 FY25). EBITDA: Declined by 7.3% to ₹104.47 crore, with margins contracting to 16.2% (down from 22.7% YoY), reflecting inflationary pressures and project mix. Q2 FY26 Sales: Recorded sales value of ₹1,322 crore (+4% YoY) with a volume of 1.5 million sq. ft. Realisation: Average price realization improved by 7% to ₹8,814 per sq. ft, indicating pricing power in a competitive market. H1 FY26 Performance: Cumulative sales for the first half of the fiscal year stood at ₹2,445 crore across 2.75 million sq. ft.