letter of Award
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Awaiting price reaction for this filing.
Artefact Projects Ltd has received a Letter of Award for consultancy services as Authority's Engineer for supervising the upgradation of two highway packages on NH-343 in Chhattisgarh (Package-I and Package-III) to 2-lane with paved shoulders under EPC mode. The project has been awarded by the Ministry of Roads Transport and Highways (a government entity) in association with KCS Engineering Private Limited. The total contract value is Rs. 5,96,24,928 (approximately Rs. 5.96 crore), excluding GST, with a contract period of 84 months. The order is domestic and not a related-party transaction.
This is a positive development for Artefact Projects, adding a new government-backed order worth nearly Rs. 6 crore to its order book over a 7-year period, providing long-term revenue visibility. For a small-cap company, such government awards strengthen credibility though the immediate impact on share price may be limited given the order size.