During Wednesday’s trading session, shares of a company engaged in the project consultancy business in India moved up by nearly 2.6 percent on BSE, after the company announced securing a contract from NHAI for a highway project in Odisha.
With a market capitalisation of Rs. 54 crores, at 10:31 a.m., the shares of Artefact Projects Limited were trading in the green at Rs. 74.05 on BSE, up by around 1.3 percent, as against its previous closing price of Rs. 73.1. The stock has delivered negative returns of over 6 percent in six months and has fallen by about 11 percent year-to-date.
What’s the News
According to recent regulatory filings with the BSE, Artefact Projects Limited has been awarded a project by the National Highways Authority of India (NHAI). The company, in a joint venture with MSV International Inc. and in association with Sunnily Consultants Pvt. Ltd., will provide Independent Engineer Services for the construction of a new four-lane, access-controlled highway in Odisha.
The highway will stretch from Cuttack (starting at the end of the CRRR at NH-16 near Tangi) to Kandarpur on SH-12, covering a total distance of nearly 21.2 km. This project, awarded under the Hybrid Annuity Model (HAM) and is valued at around Rs. 5.1 crores. The work is expected to be completed over a period of 48 months.
Financials & More
Artefact Projects reported a significant growth in the revenue from operations, experiencing a rise of nearly 79 percent YoY, increasing from Rs. 7.12 crores in Q4 FY24 to Rs. 12.74 crores in Q4 FY25.
Similarly, during the same period, the company’s net profit increased from Rs. 0.22 crores to Rs. 3 crores, representing an impressive rise of around 1,264 percent YoY.
Artefact Projects Limited is in the business of consultancy in infrastructure development of airports, ports, roads and highways. It focuses on surface transportation, urban planning and development, airport terminals and provision of soft wear to infrastructure development.
The company offers preparation of detailed engineering, designs and project reports; planning, traffic studies and forecasts; and advisory services, such as financial, legal, contracts and documentation. Its project management services include bid and contract management; project supervision and project implementation management; operation and management of existing infrastructure, and quality analysis (QA) and technical auditing.
Written by Shivani Singh
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