Subsidiary20 Jun 2026, 03:00 pm
Puravankara Ltd Guarantees ₹25 Cr for Subsidiary
AI Summary
Puravankara Ltd has provided an additional corporate guarantee of ₹25 crore to its wholly-owned subsidiary, Starworth Infrastructure & Construction Limited. This guarantee is intended to enhance credit facilities for the subsidiary, specifically for the purchase of construction equipment and materials, in favor of Axis Bank Limited. The company states this is a contingent liability and currently has no impact on Puravankara Ltd, as the subsidiary is part of the consolidated group.
Key Highlights
- Puravankara Ltd provides ₹25 Cr corporate guarantee.
- Guarantee is for subsidiary Starworth Infrastructure & Construction Ltd.
- Enhances credit facilities for construction equipment purchase.
- Provided in favor of Axis Bank Limited.
- Currently a contingent liability with no direct impact.
Price Impact
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