The contract has been awarded by a domestic entity and will be executed over a period of 36 months.
The total consideration for the contract stands at Rs 3,53,09,279.5.
The company clarified that neither the promoter nor the promoter group or group companies have any interest in the awarding authority. It further stated that the contract does not fall within the ambit of related party transactions.
Artefact provides engineering, architectural, and project management services for infrastructure projects, especially highways. Having a global presence through collaboration with renowned international consultants, experienced technical experts, and professionals, together with a dedicated management, Artefact is a leading name in the sector.
The company’s consolidated net profit jumped 34.67% to Rs 1.67 crore in Q3 FY26 as against Rs 1.24 crore in Q3 FY25. However, revenue from operations declined 8.04% to Rs 6.74 crore in Q3 FY26 as against Rs 7.33 crore in Q3 FY25.
Shares of Artefact Projects declined 1.05% to end at Rs 60.33 on the BSE.
As of February 28, the company’s market capitalisation stood at Rs 43.89 crore on the BSE.