Puravankara Share Price Surges; Subsidiary Bags ₹175 Crore Order for Ritz Carlton Project in Chennai

Puravankara Limited has announced that its wholly owned subsidiary, Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Intent from Red Connect Private Limited, as per an exchange filing dated August 21, 2026. 

The order is for civil and structural work connected to the construction of the Ritz Carlton Project at MRC Nagar, Chennai. 

Contract Valued at ₹175 Crore 

The value of the contract is ₹175 crore, excluding GST. The amount has been disclosed as ₹1,75,00,00,000 in the company's filing. 

Red Connect Private Limited is the entity awarding the contract, while SICL will carry out the civil and structural works under the order. 

Work to Run for 32 Months 

According to the terms disclosed in the annexure to the filing, the contract has an execution period of 32 months. 

The order has been classified as a domestic contract. The filing does not provide a further breakdown of the work or the value assigned to different parts of the construction activity. 

No Promoter Interest Disclosed 

Puravankara stated that its promoters, promoter group and group companies do not have any interest in Red Connect Private Limited. 

It also said that the contract does not fall within the scope of a related-party transaction. Both points were included in the detailed disclosure attached to the filing. 

About the Order 

The ₹175 crore contract relates specifically to civil and structural works for the Ritz Carlton Project at MRC Nagar in Chennai. GST is not included in the disclosed contract value. 

SICL is expected to execute the work over 32 months under the Letter of Intent received from Red Connect Private Limited. 

Filing Made with Stock Exchanges 

 The disclosure was made under Regulation 30 and Schedule III of the SEBI Listing Regulations.The company identified SICL as its wholly owned subsidiary and provided the contract details in an annexure accompanying the exchange filing. 

Read More: Ceigall India Share Price in Focus; Receives ₹225 Crore Order for Una Bulk Drug Park Project! 

Puravankara Limited Share Price Performance  

As of August 21, 2026, 3:12 pm, Puravankara Ltd share price was trading at ₹220.20, a 1.76% increase from the previous closing price. 

Conclusion 

Puravankara's subsidiary SICL has received a ₹175 crore order for civil and structural works in Chennai. The contract is expected to be completed over 32 months, with the stated value excluding GST. 

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