Puravankara's Share Price Surges 8% Post ₹272 Crore Contract Win
Puravankara, a prominent real estate developer in India, experienced an 8% increase in its share price on June 19, 2023, following a significant contract win for its subsidiary, Starworth Infrastructure & Construction.
PuravankaraReal EstateStock MarketContract WinEpc SolutionsReal EstateJun 19, 2025
The rebound came after the company announced that its wholly owned subsidiary—Starworth Infrastructure & Construction, which specializes in 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.
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.
Puravankara 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. This robust performance underscores the company's strong market position and strategic initiatives in the real estate sector.
Puravankara's consistent growth and strategic partnerships are expected to continue driving its performance and shareholder value in the coming years. Investors are advised to stay informed and consult with financial experts for personalized investment advice.
Frequently Asked Questions
What is the current share price of Puravankara?
As of June 19, 2023, Puravankara's share price surged 8% to reach ₹301.25 apiece during the trading session.
What contract did Puravankara's subsidiary win?
Puravankara's subsidiary, Starworth Infrastructure & Construction, 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. The contract is valued at ₹272 crore.
What is Emkay Global Financial's rating on Puravankara's stock?
Emkay Global Financial has retained its 'buy' rating on Puravankara's stock with a target price of ₹400 apiece following the company’s March quarter results.
What is the estimated GDV of the joint venture project in North Bengaluru?
The joint venture project with KVN Property Holdings LLP in North Bengaluru's KIADB Hardware Park has an estimated gross development value (GDV) of over ₹3,300 crore.
How has Puravankara's stock performed over the past five years?
Puravankara's stock has gained 620% over the past five years, reflecting strong long-term performance and market confidence in the company.
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