Mumbai, June 19 – Shares of Puravankara Limited went up after the company announced that its subsidiary Tru Dwellings received a Letter of Intent worth 272 crore for a major residential project in Bengaluru.
 
The contract, which includes civil and finishing works, is for the upcoming project TRU Aquapolis located in Varthur, Bengaluru. It is set up as an Engineering Procurement and Construction (EPC) commercial contract and is classified as a domestic order. The project execution will follow the terms in the final contract agreement between the involved parties.
 
In a regulatory filing, Puravankara clarified that the transaction does not qualify as a related party deal. The company confirmed that neither the promoter, promoter group, nor any group companies have a financial interest in Tru Dwellings.
 
Headquartered in Bengaluru, Puravankara is a well-known name in India's real estate sector. The company operates three main residential brands: Purva, Provident Housing Limited, and Purva Land, which target a broad range of housing and plotted development segments.
 
Despite the positive news, Puravankara reported a consolidated net loss of 75.89 crore in the fourth quarter of FY25, compared to a net profit of 6.50 crore in the same quarter last year. The company also experienced a significant drop in net sales, which fell 63.9 percent year on year to 155.21 crore in Q4 FY25.