Artefact Projects lands ₹3.15 cr NHAI supervision deal
The 36-month contract for an 85-km stretch in Tamil Nadu is worth about 7.9% of the company's ₹40 cr market cap. It provides revenue visibility for a nano-cap that saw profits drop 30% in FY26.
— 2 earlier stories on Artefact Projects Ltd. →What's new
- Artefact won an NHAI letter of award for supervision consultancy on NH 544H in Tamil Nadu.
- The 85-km, two-lane stretch will be supervised over 36 months.
- Execution is via a joint venture with Pioneer Infra Consultants and Renaissance IOT.
Why this matters
For a nano-cap with a market cap of just ₹40 cr, a ₹3.15 cr order is material: it is nearly 8% of the company's equity value. The 36-month duration gives medium-term revenue visibility, though it won't reverse the profit decline trend overnight.
What we're watching
- Whether Artefact can convert this into a pattern of regular NHAI wins.
- The joint venture's execution speed: 85 km over 3 years is modest.
- If margins on supervision consultancy are better than the company's trailing 11.3% ROE.
The full read
Artefact Projects has bagged a ₹3.15 crore supervision consultancy contract from NHAI for an 85-km stretch in Tamil Nadu. The 36-month deal is worth about 7.9% of the company's ₹40 crore market cap: material for a nano-cap that saw profits drop 30% in FY26. The award also validates its competitive position as the highest-ranked bidder. Execution is via a joint venture, which spreads the work but also the economics. It is one small win, but for a company with earnings under pressure, the medium-term visibility is a positive. The question is whether more such orders follow.
Questions answered
- How big is this contract relative to Artefact's size?
- The ₹3.15 cr order is roughly 7.9% of Artefact's ₹40 cr market capitalisation. For a nano-cap, that is a material win.
- What exactly does Artefact have to do?
- Provide supervision consultancy for operation and maintenance of an 85-km, two-lane stretch of NH 544H in Tamil Nadu over 36 months.
- Is this a solo contract?
- No. Artefact is the lead partner in a joint venture with Pioneer Infra Consultants Private Limited and Renaissance IOT LLP.
- How does this fit with the company's recent financial performance?
- Artefact's net profit dropped 30% in FY26 to ₹5.23 cr despite higher annual revenue of ₹32.25 cr. This order adds revenue visibility but won't immediately reverse the profit decline.
Artefact Projects Ltd.
Latest quarter · Mar 2014
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All notes on ARTEFACT →- 2 Jul 2026 · 3:25 PM IST Artefact Projects lands ₹3.15 cr NHAI supervision deal
- 37d ago Artefact Projects profit drops 30% on annual revenue of ₹32.25 cr
- 37d ago Artefact Projects reports profit drop despite higher annual revenue