Synopsis:
Starworth Infrastructure & Construction Ltd., a subsidiary of Puravankara Ltd., won an ₹83.5 crore contract from Krishil WhiteAlpha Pvt. Ltd. for a civil construction project.
The shares of a Small-Cap company, specializing in residential real estate development, particularly in the premium and premium-affordable segments, are in focus upon receiving an order from Krishil WhiteAlpha Pvt. Ltd for Civil construction worth Rs. 83.5 Crores.
With a market capitalization of Rs. 6,469.44 crores on Thursday, the shares of Puravankara Ltd jumped by upto 1.02 percent, making a high of Rs. 282.15 per share compared to its previous closing price of Rs. 279.30 per share.
Puravankara Limited has announced that its wholly owned subsidiary, Starworth Infrastructure & Construction Limited, has received a construction contract worth Rs. 83.51 crore from Krishil WhiteAlpha Private Limited.
The contract is for civil construction work on a commercial project named “Luxon”, located at Doddanekundi Industrial Area, Whitefield, Bangalore, Karnataka. The project is domestic in nature, and the execution timelines will follow the terms specified in the Letter of Indent.
Financials & Others
The company’s revenue declined by 40.4 percent from Rs 946.84 crore to Rs 563.7 crore in Q4FY24-25. Meanwhile, Net loss from Rs 6.59 crore has increased to a loss of Rs 85.82 crore during the same period.
The company is financially stable, with current assets exceeding current liabilities, and the promoters hold over 65% of the shares, indicating strong ownership. Additionally, it has achieved a healthy average revenue growth of 31.79% over the past three years.
Puravankara Ltd., incorporated on June 3, 1986, has a strong legacy in real estate with a presence across luxury housing, commercial spaces, premium affordable housing, and plotted developments.
The company has delivered 90 projects covering 52.74 million sq. ft. and is currently developing over 24,117 homes with a total developable area of 36.8 million sq. ft. It holds a land bank of 24.56 million sq. ft., with an economic interest in 21.98 million sq. ft.
It has attracted significant investments, including Rs. 322 crore from IFC for affordable housing and Rs. 1,150 crore from HDFC Capital for its subsidiary, Provident Housing. Its financial strength is further validated by ICRA’s “A-” (Stable) credit rating.
As of FY25, the company’s sales are largely driven by mid-range units, with 43% of sales value coming from homes priced between Rs. 0.5–1 crore. Homes priced Rs. 1–1.5 crore contribute 22%, while 11% comes from units below Rs. 0.5 crore. High-end properties above Rs. 2 crore account for 19%, and 5% comes from the Rs. 1.5–2 crore segment.
As per the regional contribution, Bengaluru is the largest contributor to the company’s sales, accounting for 56%. Chennai and the Mumbai-Pune region contribute 17% and 15%, respectively. Kochi makes up 8%, while other regions collectively contribute 4% of the sales value.
Written by Sridhar J
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