Markolines Pavement Technologies Secures ₹439.75 Crore In Aggregated Work Order; Share Price Rises by 2.28%

Markolines Pavement Technologies Limited has disclosed the receipt of multiple client work orders with a cumulative contract value of ₹4,39,74,68,973 (₹439.75 crore), inclusive of GST, according to a regulatory filing submitted under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company informed exchangesonMarch 5, 2026 that the orders span highway pavement works and infrastructure development assignments across multiple clients and locations. The disclosure references the reporting framework prescribed under SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, read with circular SEBI/HO/CFD/CFD-PoD2/CIR/P/2024/185 dated December 31, 2024, governing material event disclosures.

Several counterparties appear in the order list including Varanasi Aurangabad NH-2 Tollway Private Limited, Bharat Vanijya Eastern Private Limited, Delhi Hapur Meerut Expressway Private Limited, and the Indo British Group of Schools.

Contract Breakdown And Execution Scope

The filing details four separate mandates with varying execution timelines and scope:

1. Varanasi Aurangabad NH-2 Tollway Private Limited: Letter of Award valued at ₹75,28,16,871 (inclusive of GST) for providing and laying Dense Bituminous Macadam (DBM) and Bituminous Concrete (BC). Completion is scheduled on or before May 2026.
2. Varanasi Aurangabad NH-2 Tollway Private Limited – Additional Works: Aseparate Letter of Award worth ₹43,46,50,013 covering miscellaneous works at staggered locations in the BR3 section of the NH-2 project in Bihar (Km 938–978). Execution timeline: within 90 days from order date.
3. Bharat Vanijya Eastern Private Limited: Contract valued at ₹21,76,49,112 for DBM and BC pavement work including milling operations, with a three-month execution window including mobilisation.
4. Delhi Hapur Meerut Expressway Private Limited: Work order of ₹4,84,88,977 for DBM and BC pavement works, to be completed on or before March 2026.
5. Indo British Group of Schools: Letter of Intent valued at ₹2,94,38,64,000 for turnkey development of school infrastructure across Pune,Hyderabad and Nashik. Execution timeline: within 12 months from site handover or commencement letter.

DBM (Dense Bituminous Macadam) and BC (Bituminous Concrete) represent layered asphalt pavement structures used in high-traffic highways, forming the load-bearing and surface courses respectively.

The disclosure carries the digital signature of Sanjay Bhanudas Patil, Chairman & Managing Director, dated March 5, 2026 at 10:23 IST.

Share Price Movement

Share price of Markolines Pavement Technologies Ltd (NSE: MARKOLINES) traded higher following the disclosure.

As of 11:21 AM IST on March 5, 2026, the stock was quoted at ₹163.12, up ₹4.00 or 2.51% from the previous close of ₹159.12, according to exchange-reflected market data. Trading showed the stock moving between ₹160.00 and ₹164.85 so far, with the opening price recorded at ₹160.00.

The company’s market capitalisation stood at approximately ₹359.53 crore, while its 52-week trading range spans ₹131.65 to ₹188.00.

Company Background

Markolines Pavement Technologies Limited operates in highway maintenance, pavement preservation and road infrastructure services, with technical capabilities spanning micro-surfacing, recycling, asphalt overlay systems and specialised pavement rehabilitation.

The company typically executes projects for national highway concessionaires, EPC contractors and infrastructure developers, focusing on preventive maintenance and surface rehabilitation technologies designed to extend road asset life cycles.

Its order pipeline often includes bituminous resurfacing contracts and highway rehabilitation mandates, typically awarded by toll road operators and private concessionaires across India’s national highway network.

Conclusion

The newly disclosed mandates collectively represent ₹439.75 crore in work orders, expanding Markolines’ execution pipeline across highway pavement engineering and institutional infrastructure construction.

While the filing confirms the contractual awards, revenue recognition will depend on project mobilisation and execution milestones over the respective completion timelines, as per the company’s regulatory disclosure.

Source:

• https://www.nseindia.com/get-quote/equity/MARKOLINES/Markolines-Pavement-Technologies-Limited
• https://www.nseindia.com/companies-listing/corporate-filings-announcements