Puravankara gains after subsidiary secures Rs 272-cr LoI for Bengaluru project
The contract is for civil and finishing works for the proposed residential project TRU AQUAPOLIS located in Varthur, Bengaluru.
The nature of the contract is EPC - Commercial and is classified as a domestic order.
The execution timeline will be governed as per the terms laid out in the formal contract agreement between the parties.
In a regulatory filing, the company clarified that neither the promoter nor the promoter group or group companies have any interest in Tru Dwellings, nor the transaction does not qualify as a related party transaction.
Puravankara, headquartered in Bengaluru, is one of Indias most admired and trusted real estate developers. The company has established three distinct and successful residential brands Purva, Provident Housing Limited (PHL) and Purva Land, catering to the entire spectrum of housing and plotted development needs.
The company reported consolidated net loss of Rs 75.89 crore in Q4 FY25 as against net profit of Rs 6.50 crore posted in Q4 FY24. Net sales tanked 63.9% year on year to Rs 155.21 crore in Q4 FY25.
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