Key Highlights
- Starworth Infrastructure and Construction Limited secured ₹280.35 crore order from VIT Vellore.
- Project involves construction of Ruby Block (Academic Block) Phase I.
- Order value stands at ₹280.35 crore excluding GST.
- Project execution timeline is 24 months.
- Contract awarded by Vellore Institute of Technology on a domestic basis.
- Nature of contract is item rate based.
- Starworth Infrastructure is a wholly owned subsidiary of Puravankara Limited.
Puravankara Limited announced that its wholly owned subsidiary, Starworth Infrastructure & Construction Limited (SICL), has received a Letter of Intent (LOI) for a major construction project valued at ₹280.35 crore.
The order has been awarded by the Vellore Institute of Technology (VIT), one of India’s leading private universities. The project involves the construction of the Ruby Block (Academic Block) Phase I at the VIT campus located in Vellore, Tamil Nadu.
According to the company’s regulatory filing, the total accepted contract value stands at ₹280.35 crore, excluding Goods and Services Tax (GST). The contract has been categorized as an item rate contract and is expected to be executed within a period of 24 months.
The company confirmed that the order is domestic in nature and does not involve any related party transactions. Additionally, no promoter or group company interest is involved in the awarding entity.