Puravankara Subsidiary Starworth Secures ₹280.35 Cr Contract from VIT Vellore

Puravankara Subsidiary Wins Major Construction Contract at VIT Vellore

Starworth Infrastructure & Construction Limited, a wholly owned subsidiary of Puravankara, has secured a contract valued at ₹280.35 crore for construction of the Ruby Block (Academic Block) Phase – I at the VIT Vellore Campus. The announcement was made on March 17, 2026, sending Puravankara's share price up nearly 3% during intraday trading.

Contract Terms and Timeline

The project is set to be completed within 24 months and is structured as a domestic item rate contract. The order value of ₹280.35 crore excludes goods and services tax. The promoter group has no interest in the awarding entity, and the contract does not qualify as a related party transaction.

About Starworth Infrastructure

Starworth was conceptualized as an internal engineering division of the Puravankara Group in 2001 and was established as an independent General Contracting Company in 2009 to pursue external construction contracts. With over 16 years of experience in residential and commercial construction, Starworth has delivered more than 12 million sqft of quality construction and 81 million manhours.

The contracting firm specializes in residential, commercial, infrastructure, and industrial development projects across India, with a focus on innovative engineering solutions and comprehensive project management, having completed over 18 million square feet of projects.

Significance for Order Book

The project has a 24-month execution period and will significantly boost SICL's order book and revenue visibility. Developers with in-house or dedicated construction arms, like Puravankara, often maintain better EBITDA margins compared to those reliant entirely on external contractors.

About VIT Vellore

VIT Campus is spread across 372 acres with state-of-the-art infrastructure for both students and faculty, fully furnished and well-equipped labs, and ample features that support diverse events including auditoriums, open spaces, and outdoor stages.

Market Context

As of March 2026, Puravankara had completed 95 projects spanning nearly 57 million square feet across nine Indian cities, while maintaining a land bank of around 40 million square feet and ongoing projects totaling 36.69 million square feet. The Indian construction and infrastructure sector is witnessing a revival driven by private residential demand and public infrastructure spending.