Low PE penny stock under Rs 70: Road construction company receives order worth Rs 40,74,225 from Ministry of Road Transport &Highways

The stock is up by 29.23 per cent from its 52-week low of Rs 52 per share.

Artefact Projects Limited has secured a significant project from the Government of India's Ministry of Road Transport & Highways, in association with M/s Manglam Infra & Engineering Limited and Shree Mahamai. The project involves providing consultancy services for the preparation of Detailed Project Reports (DPRs) for four bypasses in Punjab. These include bypasses for Kot Ise Khan (NH-703B), Bhikwind (NH-703B), Bagha Purana (NH-254), and Jalalabad (NH-754). The contracted fees for Artefact Projects Limited for this domestic project total Rs 40,74,225 excluding GST, and the project is expected to be completed within 300 days.

Earlier, the company in association with Renaissance 10T LLP, has been awarded a contract by the National Highways Authority of India (NHAI) for Independent Engineer Services. This domestic order, valued at approximately Rs 3,77,73,900/- plus GST, involves overseeing the Operation and Maintenance of the 4-laning of the UP/Haryana Border-Rohna-Hassangarh-Jhajjar Section of NH-334 B. The services will be provided for a period of 36 months.

Incorporated in 1987, Artefact Projects Ltd is engaged in the project consultancy business in India. The company has a market cap of Rs 52 crore and reported positive numbers in its Quarterly Results (Q3FY25) and annual results (9MFY25). The stock is trading at 0.70 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 89.74 per share and its 52-week low is Rs 52 per share. The shares of the company have a PE of 9x whereas the industry PE is 26x. The stock is up by 29.23 per cent from its 52-week low of Rs 52 per share.

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