Artefact Projects Ltd has secured a substantial contract worth ₹4.98 crores from the National Highways Authority of India (NHAI) for independent engineer services on a major expressway project in Gujarat. The company announced this development through a regulatory filing under SEBI Regulation 30 on January 10, 2026.

Project Details and Scope

The awarded contract encompasses independent engineer services during the operation and maintenance period for the eight-lane Vadodara Kim Expressway. The project covers two distinct packages: Package VII spanning from km 190.000 to km 217.500 (Gandeva to Ena Section) and Package VI from km 217.500 to km 254.430 (Ena to Kim section) in Gujarat state.

Partnership and Implementation

Artefact Projects Ltd will execute this project in collaboration with two key partners: Pioneer Infra Consultants Private Limited and Neoteric Consultant LLP. This partnership approach demonstrates the company's strategy of leveraging specialized expertise for complex infrastructure projects under the government's flagship Bharatmala Pariyojana initiative.

The project falls under the Hybrid Annuity Model (HAM), which is a preferred procurement mechanism for highway projects in India. The contract involves providing independent engineering oversight during the critical operation and maintenance phase of the expressway infrastructure.

Regulatory Compliance and Commercial Terms

The company has confirmed receipt of the Letter of Award for the project and has fulfilled all regulatory disclosure requirements. The contract is classified as a domestic award with no related party transactions involved. The commercial consideration of ₹4,97,80,620.00 excludes GST and represents a significant addition to the company's order book.

This contract award reinforces Artefact Projects Ltd's position in the infrastructure consulting sector and its capability to secure projects under major government initiatives. The 60-month duration provides revenue visibility and strengthens the company's long-term project pipeline in the highway infrastructure segment.