The shares of one of the leading Infrastructure Services Consultancy companies gained around 4 percent to Rs 65.85 per share on Monday’s early trade after the company received an order from the National Highway Authority of India for the development of the National Highway.
According to the company’s exchange filing, Artefact has received a project from the National Highway Authority of India(NHAI) for a value of Rs 5.40 crores for consultancy Services as Independent Engineering for the development of Four laning of NH-716 from China Orampadu to Renigunta on NH71 near Tirupati Airport Road on HAM under Bharatmala Pariyojna in the state of Andhra Pradesh.
Artefact Projects Ltd shares have increased by 20 percent in the last six months and 34 percent on a year-to-date basis.
In the financial year, the company has developed a strong order book with orders of Rs 205 crores out of which almost 70 percent of the orders were bagged in the past 1 year of vigorous efforts.
During the fiscal year, the company’s manpower costs and administrative expenditures were reduced concurrently owing to project completions, resulting in a rise in EBITDA and PBT levels. Profit After Tax (PAT) grew from Rs. 4.13 crore to Rs. 5.34 crore.
The company’s order book imparts revenue visibility for the next 4 to 5 years with a substantial increase in Annual Turnover levels. Besides, the Company has been able to reduce Bank debt by prepayment to the extent of Rs. 5 crores.
Artefact Projects Ltd revenues have increased by 58 percent year on year from Rs 4.07 crore in Q2FY23 to Rs 6.44 crore in Q2FY24, while net profit has increased by 98 percent in the same period, from Rs 0.96 crore to Rs 1.91 crore.
Artefact Projects Ltd is engaged in the project consultancy business in India such as Engineering, Architectural, and Project Management services for Infrastructure Projects viz. Highways, Urban Infrastructure, Airports, Mining Services, and Railways.
At the time of writing this report, Artefact Projects shares were trading at Rs 64.09 per share, up 1.04 percent from the previous close price.
Written by Omkar Chitnis
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