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 Services covering the operations and maintenance of a 47.445 km four-laning stretch on NH-47 (Indore-Harda, Package-III) in Madhya Pradesh, under the Bharatmala Pariyojna Phase-I. The contract is for 36 months and will be executed in association with Pioneer Infra Consultants and Neoteric Consultant LLP. The contracted fee is Rs 3.53 crore (excluding GST). The order is a domestic government contract and is not a related-party transaction.
This adds a small but steady government-backed order to the company's order book with 36 months of revenue visibility. While the absolute value is modest, winning work from NHAI strengthens the company's credentials in highway consultancy and supports future bidding prospects.