Puravankara share price surges 8% after subsidiary bags ₹272 crore contract
Puravankara, a leading real estate developer in India, witnessed an 8% surge in its share price during Thursday's trading session on June 19, reaching ₹ 301.25 apiece and on course to snap a seven-day losing streak, if trend persists.
The rebound came after the company announced that its wholly owned subsidiary—Starworth Infrastructure & Construction, which focuses on tech-driven EPC solutions—had received a Letter of Intent for civil and finishing works for the proposed residential apartment project 'TRU AQUAPOLIS' in Varthur, Bengaluru, from Tru Dwellings Private Limited.
According to the company's exchange filing, the total value of the contract stands at ₹ 272 crore.
Meanwhile, domestic brokerage firm Emkay Global Financial has retained its 'buy' rating on the stock with a target price of ₹ 400 apiece following the company's March quarter results. Although pre-sales in FY25 were weak due to delays in approvals, the brokerage expects strong pre-sales growth in FY26E and FY27E, driven by key project launches lined up for FY26.
The company began FY26 on a strong note by announcing a strategic joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru's KIADB Hardware Park.
With an estimated gross development value (GDV) of over ₹ 3,300 crore and a saleable area of 3.48 million square feet, the project further strengthens the group's launch pipeline and regional presence.
The company expects to receive occupancy certificates (OCs) for key projects like Atmosphere, Oakshire, and Capella in Bengaluru and Adora De Goa in Goa during FY26. These projects cover a total saleable area of 3.95 million square feet and carry a total GDV of ₹ 3,200 crore. This is expected to drive handovers and revenue recognition in the upcoming quarters.
In FY25, the company achieved pre-sales of ₹ 5,006 crore, with a sales volume of 5.67 million square feet. It also recorded a 10% year-on-year increase in sales realization to ₹ 8,830 per square foot. Collections for the year stood at ₹ 3,937 crore, reflecting a 9% growth over the previous year.
After maintaining a steady upward trend from March 2023 to June 2024, the stock came under pressure for the following 10 months. However, it regained momentum in May, closing the month with a 14% rally. The upward trend has extended into June, with the stock up another 9% so far.
Looking at the long-term performance, the stock has gained 255% over the past three years and 620% over the past five years.
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Mint
12 hours ago
- Mint
Puravankara share price surges 8% after subsidiary bags ₹272 crore contract
Puravankara, a leading real estate developer in India, witnessed an 8% surge in its share price during Thursday's trading session on June 19, reaching ₹ 301.25 apiece and on course to snap a seven-day losing streak, if trend persists. The rebound came after the company announced that its wholly owned subsidiary—Starworth Infrastructure & Construction, which focuses on tech-driven EPC solutions—had received a Letter of Intent for civil and finishing works for the proposed residential apartment project 'TRU AQUAPOLIS' in Varthur, Bengaluru, from Tru Dwellings Private Limited. According to the company's exchange filing, the total value of the contract stands at ₹ 272 crore. Meanwhile, domestic brokerage firm Emkay Global Financial has retained its 'buy' rating on the stock with a target price of ₹ 400 apiece following the company's March quarter results. Although pre-sales in FY25 were weak due to delays in approvals, the brokerage expects strong pre-sales growth in FY26E and FY27E, driven by key project launches lined up for FY26. The company began FY26 on a strong note by announcing a strategic joint venture with KVN Property Holdings LLP to develop a 24.59-acre land parcel in North Bengaluru's KIADB Hardware Park. With an estimated gross development value (GDV) of over ₹ 3,300 crore and a saleable area of 3.48 million square feet, the project further strengthens the group's launch pipeline and regional presence. The company expects to receive occupancy certificates (OCs) for key projects like Atmosphere, Oakshire, and Capella in Bengaluru and Adora De Goa in Goa during FY26. These projects cover a total saleable area of 3.95 million square feet and carry a total GDV of ₹ 3,200 crore. This is expected to drive handovers and revenue recognition in the upcoming quarters. In FY25, the company achieved pre-sales of ₹ 5,006 crore, with a sales volume of 5.67 million square feet. It also recorded a 10% year-on-year increase in sales realization to ₹ 8,830 per square foot. Collections for the year stood at ₹ 3,937 crore, reflecting a 9% growth over the previous year. After maintaining a steady upward trend from March 2023 to June 2024, the stock came under pressure for the following 10 months. However, it regained momentum in May, closing the month with a 14% rally. The upward trend has extended into June, with the stock up another 9% so far. Looking at the long-term performance, the stock has gained 255% over the past three years and 620% over the past five years.
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12 hours ago
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Purvankara share price zooms over 7% as subsidiary bags deal worth ₹272 cr
Puravankara share price: Puravankara share was buzzing in trade in an overall muted session on Thursday, June 19, 2025, with the scrip rallying up to 7.45 per cent to hit an intraday high of ₹301.10 per share. 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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Puravankara gains after subsidiary secures Rs 272-cr LoI for Bengaluru project
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