Hot Pursuit News Details

Puravankara gains 2.28% as subsidiary secures Rs 175 crore contract for Chennai’s Ritz Carlton Project

(21-Aug-26   13:41)

Puravankara Ltd. is up 2.28% to Rs 221.34, extending recent gains and rising 1.43% over the last week. Puravankara Limited announced that its wholly-owned subsidiary, Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Intent from Red Connect Private Limited for civil and structural works on the Ritz Carlton Project in Chennai, with a contract value of Rs 1,75,00,00,000 (Indian Rupees One Hundred Seventy-Five Crores) excluding GST, and a project execution timeline of 32 months. The order, awarded by a domestic entity, does not involve any related party transactions and does not indicate any promoter or group company interest. Trading volume reached 2.87 lakh shares today, a surge of 44.3% compared to the average volume over the last one week. Puravankara Ltd. declined by 22.86% year-over-year, underperforming the 3.27% loss seen in the NIFTY50 index.