Markolines Pavement Technologies Limited, a leading provider of road infrastructure services, has announced that it has been awarded a new contract worth ₹18.87 crore by Varanasi Aurangabad NH-2 Tollway Private Limited (VATPL). This latest order involves rehabilitation and overlay work (Bituminous Concrete or BC) as part of periodic road maintenance on the NH-2 corridor in the state of Uttar Pradesh.

The company notified the BSE Limited about this development through a regulatory disclosure dated 19th June, 2025, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of the New Road Work Contract

As per the official disclosure, the total value of the order, inclusive of GST, is ₹18,87,64,716. The scope of the work includes:

• Maintenance of the service road

• Execution of rehabilitation and overlay (BC)

• Total stretch: From Km 786 to Km 843

• Project location: Varanasi Aurangabad NH2 Tollway, Uttar Pradesh

• Estimated timeline: 3 months (excluding monsoon period)

This is an additional Letter of Award granted to Markolines, based on its previous strong performance on earlier awarded projects by the same client.

About the Client – Varanasi Aurangabad NH-2 Tollway Pvt. Ltd.

Varanasi Aurangabad NH-2 Tollway Private Limited is a private company engaged in the operation, maintenance, and tolling of sections of National Highway 2 (NH-2). This vital highway corridor connects Uttar Pradesh and Maharashtra, and is crucial for the movement of both passenger and freight vehicles.

Strategic Importance of the Project

This new project boosts Markolines’ presence in North India, particularly in Uttar Pradesh, a state with rapidly expanding infrastructure development. The key aspects that make this project critical include:

• Ensuring road safety and durability through overlay and rehabilitation

• Reducing road deterioration in high-traffic zones

• Maintaining operational efficiency of a key highway corridor

The Bituminous Concrete (BC) overlay work involves specialised processes and technologies which Markolines is known for, giving them an edge in project execution.

Growing Order Book Reflects Strong Market Position

With this order, Markolines' total unexecuted order book now stands at ₹400 crore+, indicating robust business growth and strong project pipeline.

A healthy order book reflects:

• Sustained client trust and repeat orders

• Effective execution capabilities

• Steady revenue visibility over upcoming quarters

The company’s focus on niche engineering services and specialised pavement technology solutions continues to help it win domestic contracts across India.

Commercial and Regulatory Compliance

The disclosure under SEBI’s Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November 2024 and SEBI/HO/CFD-PoD2/CIR/P/2024/185 dated 31st December 2024 includes all relevant contract and execution details.

Key regulatory highlights include:

• Client name: Varanasi Aurangabad NH-2 Tollway Pvt. Ltd.

• Contract nature: Domestic

• Execution timeline: 3 months, excluding monsoon

• Project size: ₹18.87 crore inclusive of GST

• Promoter interest: None

• Related party transaction: No

These disclosures confirm that the project is independent, domestic, and awarded at arm’s length, reinforcing transparency and compliance.

Operational and Financial Outlook

This order strengthens Markolines' operational capabilities and boosts its quarterly revenue visibility. With a short execution timeline of 3 months, the company is expected to:

• Recognise revenue early in the upcoming fiscal quarter

• Improve cash flow position

• Enhance profitability margins, given the efficiency of BC overlay operations

The contract also reaffirms Markolines’ ability to deliver on performance, which will be crucial in securing future infrastructure mandates, both from government bodies and PPP players.

Contact Information and Corporate Offices

Registered Office:
502, Wing-A, Shree Nand Dham, Sector 11, CBD Belapur, Navi Mumbai 400614 Maharashtra, India

Corporate Office:
6th Floor, Wing-A, Shree Nand Dham, Sector 11, CBD Belapur, Navi Mumbai 400614 Maharashtra, India

• Website: www.markolines.com

• Phone: +91 22 6266 1111

• Email: info@markolines.com

• CIN: L99999MH2002PLC156371 (Formerly Markolines Traffic Controls Ltd.)

Conclusion

The awarding of this ₹18.87 crore project for NH-2 maintenance work highlights Markolines Pavement Technologies Limited’s strong foothold in India’s infrastructure maintenance industry. With consistent project delivery, financial prudence, and customer satisfaction, Markolines is steadily building a reputation for technical excellence and project reliability.

This project not only strengthens the company’s execution portfolio but also reinforces its leadership in pavement engineering, paving the way for continued success in public and private infrastructure projects across the country.

The Upcoming IPOs in this week and coming weeks are Suntech Infra Solutions, Shri Hare-Krishna Sponge Iron, Icon Facilitators, Ace Alpha Tech, Aakaar Medical Technologies, Safe Enterprises Retail Fixtures, Globe Civil Projects, Sambhav Steel Tubes, Ellenbarrie Indutrial Gases, Kalpataru, HDB Financials, AJC Jewel, Mayasheel Ventures.

The Current active IPO are  ArisInfra Solutions, Influx Healthtech, Eppeltone Engineers.

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst