  New spectrometric data on V Pup are combined with satellite photometry
(HIPPARCOS and recent TESS) to allow a revision of the absolute parameters with
increased precision. We find: $M_1$ = 14.0$\pm$0.5, $M_2$ = 7.3$\pm$0.3
(M$_\odot$); $R_{1}$ = 5.48$\pm$0.18, $R_2$ = 4.59$\pm$0.15 (R$_\odot$);
$T_{1}$ 26000$\pm 1000$, $T_2$ 24000 $\pm$1000 (K), age 5 $\pm$1 (Myr),
photometric distance 320 $\pm$10 (pc). The TESS photometry reveals
low-amplitude ($\sim$0.002 mag) variations of the $\beta$ Cep kind, consistent
with the deduced evolutionary condition and age of the optical primary. This
fact provides independent support to our understanding of the system as in a
process of Case A type interactive evolution that can be compared with $\mu^1$
Sco. The $\sim$10 M$_{\odot}$ amount of matter shed by the over-luminous
present secondary must have been mostly ejected from the system rather than
transferred, thus taking angular momentum out of the orbit and keeping the pair
in relative close proximity. New times of minima for V Pup have been studied
and the results compared with previous analyses. The implied variation of
period is consistent with the Case A evolutionary model, though we offer only a
tentative sketch of the original arrangement of this massive system. We are not
able to confirm the previously reported cyclical variations having a 5.47 yr
period with the new data, though a direct comparison between the HIPPARCOS and
TESS photometry points to the presence of third light from a star that is
cooler than those of the close binary, as mentioned in previous literature.
