Starworth Infrastructure & Construction Limited (SICL), a wholly owned subsidiary of Puravankara, has received a letter of intent from Sion Eden Developers for the execution of civil and structural works at the Embassy Eden project in Bengaluru. The letter of intent covers an item rate contract awarded by a domestic entity and will be executed over a period of 34 months from the date of handing over of the site to the contractor. The total contract value stands at Rs 1,333.4 million (mn) and the company indicated that the contract does not constitute a related party transaction.

The company noted that neither the promoter group nor group companies have any interest in the awarding entity and that normal governance processes were followed in awarding the work. SICL will undertake construction and structural activities under the purview of the contract while adhering to the agreed timelines and specifications. The award expands SICL's order book in Bengaluru, where Puravankara has significant operations.

On the financial front, Puravankara reported a consolidated net profit of Rs 1,141.5 mn for the fourth quarter of FY26, against a net loss of Rs 855.0 mn in the corresponding quarter a year earlier. Revenue from operations rose 177.3 per cent to Rs 15.02 billion (bn) in Q4 FY26 from Rs 5.42 billion in Q4 FY25. The company said the improvement reflected higher sales and project execution across its residential portfolios.

The Puravankara Group is active in both premium and affordable housing segments under its Surva and Provident brands and maintains a presence in Bengaluru, Chennai, Kochi, Hyderabad and Pune. Market reaction to the update saw the scrip fall by 5.09 per cent to close at Rs 221.70, reflecting short term investor sentiment. SICL's new contract adds to the group's construction pipeline without altering related party exposures.