LETTER OF AWARD
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Artefact Projects Ltd has received a Letter of Award from the National Highways Authority of India (NHAI) for Independent Engineer consultancy services during the Operation and Maintenance phase of three 6-laning highway projects on NH-16 in Andhra Pradesh, covering the Chilakaluripet-Vijayawada section, Chilakaluripet bypass, and Vijayawada bypass, including a major bridge across the Krishna river. The contract is valued at Rs 7.77 crore (excluding GST) and has a tenure of 60 months. The work will be executed in association with Pioneer Infra Consultants, CADD Consulting Engineering, and M/s Dev Laxmi Surveyor. The contract is domestic and does not involve any related party transactions.
This is a positive development as it adds a new order from a credible government client (NHAI) to the company's order book, providing revenue visibility over the next 5 years. The win strengthens Artefact's presence in the highway consultancy segment, though the contract value of ~Rs 7.77 crore is moderate in size.