Low PE penny stock under Rs 60: Road construction company receives order worth Rs 2,42,60,105 from National Highway Authority of India

The shares of the company have a PE of 9x whereas the industry PE is 26x.

Artefact Projects Limited, in association with Manglam Infra and Engineering Limited and Renaissance I0T LLP, has been awarded a significant Consultancy Services project for the Supervision Consultant (SC) for the operation and maintenance of the two-lane paved shoulder section of NH-565, spanning from Km. 293.266 to Km. 359.422, between Vaggampatte and Dornata T-junction in Andhra Pradesh, as evidenced by the Letter of Acceptance received by the Company for this project from NHAI. The contracted fees for this domestic project are approximately Rs 2,42,60,105, excluding GST.

Earlier, the company in association with Manglam Infra & Engineering Limited, has secured a significant project from the National Highway Authority of India to provide Independent Engineer services during the Operations and Maintenance period for the 4-laned Loha-Waranga and Waranga-Mahagaon sections of NH-361 in Maharashtra. This Hybrid Annuity Mode (DBFOT Annuity) project under NHDP Phase IV spans a duration of 60 months, with Artefact Projects Limited's contracted fees amounting to approximately Rs 436.37 lakh, excluding GST.

Incorporated in 1987, Artefact Projects Ltd is engaged in the project consultancy business in India. The company has a market cap of Rs 56.2 crore and reported positive numbers in its Quarterly Results (Q2FY25) and half-yearly results (H1FY25). The stock is trading at 0.92 times its book value and has delivered good profit growth of 31.6 per cent CAGR over the last 5 years.

The stock’s 52-week high is Rs 93 per share and its 52-week low is Rs 52.80 per share. The shares of the company have a PE of 9x whereas the industry PE is 26x. The stock is up by 5 per cent from its 52-week low of Rs 52.80 per share.

Disclaimer: The article is for informational purposes only and not investment advice.