Artefact Projects spurts ~5% on securing assignments worth Rs30.72 crore

20 Jun 2022 , 09:44 AM

Artefact Projects Limited informed that it has secured multiple project assignments with a fee of Rs30.72 crore.

The scope of the project includes the acting as the Authority’s Engineer for design, review & supervision of the Construction of 4-laning of 3 projects being sections of NH 62, in the State of Rajasthan and sections of NH-19, NH-44, and NH-82 in the State of Uttar Pradesh.

Further, to provide Consultancy services as supervision consultants for O & M and various other repair works and Periodical Renewal of Sections on NH-44.

Artefact will also provide Consultancy services for preparation of DPR for construction of Guwahati Ring Road approx. 22.4s km length under Bharatmala Pariyojana in the State of Assam.

The total aggregate fees of the stated assignments are approx. Rs30.72 crore. This can also result in additional annual revenue of about Rs9 crore per annum for the next 3 years.

So far, the Company has participated in 65 No. of bids involving fees of approx. Rs524.42 crore, out of which some orders are further expected.

At around 9.38 AM, Artefact Project was trading 4.99% higher at Rs50.50 against its previous close of Rs48.10 on BSE. It opened at Rs51.10 and hit intraday high and low of Rs52.15 and Rs48.25 respectively so far.