Artefact Projects gains on bagging Rs 5 cr LoA from NHAI

Artefact Projects added 1.03% to Rs 73.85 after the company announced that it has received a letter of award (LoA) worth Rs 5.10 crore from the National Highways Authority of India (NHAI) for Independent Engineer Services.

The contract pertains to Independent Engineer Services for the construction of a new four-lane access-controlled highway from Cuttack (end point of CRRR at NH-16 near Tangi) to Kandarpur on SH-12, from design chainage 0+000 km to 21+225 km, under NH(O) on Hybrid Annuity Mode in the state of Odisha. The project has been awarded in a joint venture with MSV International Inc and in association with Sunnily Consultants.

The total value of the project is Rs 5,10,00,000 and the duration is fixed at 48 months.

The company also clarified that the transaction does not involve any related parties. Neither the promoter, the promoter group, nor any group companies have any financial or other interest in the awarding entity.

Artefact provides engineering, architectural and project management services for infrastructure projects, especially highways. Having a global presence through collaboration with renowned international consultants, experienced technical experts and professionals together with a dedicated management, Artefact is a leading name in the sector.

The company's consolidated net profit declined by 9% to Rs 0.61 crore, on a 13.3% decrease in revenue from operations to Rs 10.79 crore in Q4 FY25 compared to Q4 FY24.

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