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Purvankara share price zooms over 7% as subsidiary bags deal worth ₹272 cr
However, by 10:37 AM, Puravankara shares were off day's high, and were trading 3.28 per cent higher at ₹289.40 per share. In comparison, BSE Sensex was trading flat with a negative bias at 81,419.45 levels.
Why did Puravankara share price jump in trade today?
Puravankara share price zoomed after the company announced that its wholly-owned subsidiary, Starworth Infrastructure & Construction, secured a letter of intent (LoI) worth a little over ₹272 crore from TRU Dwellings Private Limited.
In an exchange filing, Puravankara said, 'We write to inform you that M/s. Starworth Infrastructure & Construction Limited which is the Wholly Owned Subsidiary of Puravankara Limited, has received a Letter of Indent for Civil and Finishes Works for the proposed Residential Apartment at 'TRU AQUAPOLIS' in Varthur, Bengaluru for M/s. Tru Dwellings Private Limited'.
Under the terms of the deal, Puravankara will be responsible for civil and finishes works for the proposed Residential Apartment at 'Tru Aquapolis' in Varthur, Bengaluru for TRU Dwellings. Track LIVE Stock Market Updates
About Puravankara
Puravankara Limited, based in Bengaluru, is among India's top real estate developers. Established in 1975, the company has built a legacy of over 50 years, delivering high-quality homes with a strong focus on timely delivery, transparency, and innovation.
To serve diverse customer needs, Puravankara operates through three key brands. The flagship Puravankara brand focuses on premium, technologically advanced residences. Provident Housing Limited, launched in 2008 as a wholly-owned subsidiary, caters to the mid-income housing segment. In 2021, the group introduced Purva Land, specialising in plotted developments to meet evolving investment preferences.
The company's construction arm, Starworth Infrastructure and Construction Limited (SICL), delivers technology-enabled construction solutions. Puravankara has also expanded into commercial office spaces, strengthening its presence across the real estate value chain.
With operations in cities such as Bengaluru, Chennai, Hyderabad, Pune, Mumbai, Kochi, Goa, Kolkata, Coimbatore, and Mangaluru, Puravankara was among the first Indian real estate companies to secure Foreign Direct Investment (FDI). It has so far delivered over 86 residential and commercial projects, covering more than 50 million square feet of development.
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