Artefact Projects has announced that it has received a letter of award (LoA) valued at Rs 5.10 crore from the National Highways Authority of India (NHAI) for Independent Engineer Services.
This contract is related to Independent Engineer Services for the development of a new four-lane access-controlled highway from Cuttack (the endpoint of CRRR at NH-16 near Tangi) to Kandarpur on SH-12, covering the design chainage from 0+000 km to 21+225 km, under NH(O) on Hybrid Annuity Mode in the state of Odisha.
The project has been awarded in collaboration with MSV International Inc and in partnership with Sunnily Consultants. The total project value is Rs 5,10,00,000, with a fixed duration of 48 months.
The company has also stated that this transaction does not involve any related parties. Neither the promoter, the promoter group, nor any affiliated companies have any financial or other interests in the awarding entity. Artefact specializes in providing engineering, architectural, and project management services for infrastructure projects, particularly highways.
With a global footprint achieved through partnerships with esteemed international consultants and a team of experienced technical experts and professionals, along with dedicated management, Artefact stands as a prominent name in the industry. In Q4 FY25, the company’s consolidated net profit fell by 9% to Rs 0.61 crore, alongside a 13.3% decline in revenue from operations, which amounted to Rs 10.79 crore compared to Q4 FY24.
