SYNOPSIS: This infra solution provider secured multiple orders worth Rs. 439.74 crore across road infrastructure and institutional projects, including highway works in Bihar, expressway maintenance, and turnkey school infrastructure development in Pune, Hyderabad, and Nashik.
During Thursday’s trading session, shares of one of India’s leading highway operations and maintenance (O&M) and specialised infrastructure solution providers surged over 3 percent on BSE, after securing multiple work orders worth Rs. 439.74 crores (more than its market cap).
With a market cap of Rs. 358.4 crores, shares of Markolines Pavement Technologies Limited were trading in the green at Rs. 162.6 on BSE, up by around 2 percent, as against its previous closing price of Rs. 159.35. The stock has delivered positive returns of around 37 percent in the last one year, but has fallen by over 3 percent in the last six months.
News
According to the latest disclosures from the stock exchanges, Markolines Pavement Technologies Limited announced receiving multiple work orders from its clients, cumulatively amounting to nearly Rs. 439.74 crores for executing different infrastructure projects.
A significant portion of the orders has been awarded by Varanasi Aurangabad NH-2 Tollway Private Limited. One contract, valued at Rs. 75.28 crore, involves providing and laying Dense Bituminous Macadam (DBM) and Bituminous Concrete (BC) on prepared surfaces for road infrastructure works in the Bihar section of NH-2 between km 843 and km 978, with completion scheduled on or before May 2026. The same client has also awarded another order worth Rs. 43.46 crore for miscellaneous works at staggered locations in the BR3 section in Bihar (km 938 to km 978), which is expected to be completed within 90 days from the date of the order.
In addition, the company has received an order from Bharat Vanijya Eastern Private Limited valued at Rs. 21.76 crore for providing and laying DBM and BC for the four-laning project of the Arrah-Pararia section of NH-319 (Old NH-30) from km 0 to km 54+530 in Bihar under the Bharatmala Pariyojana Phase-I on EPC mode. This project is scheduled to be executed within 3 months, including the mobilisation period.
Another order has been awarded by Delhi Hapur Meerut Expressway Private Limited, valued at Rs. 4.84 crore, for pavement works under periodic maintenance on the expressway, with completion targeted on or before March 2026.
Apart from road infrastructure contracts, the company has also secured a Letter of Intent worth Rs. 294.38 crore from Indo British Group of Schools (IBGS) for the turnkey development of school infrastructure projects in Pune, Hyderabad, and Nashik. This project is expected to be completed within 12 months from the date of the site handover or commencement letter.
Financials
Markolines Pavement reported a marginal growth in revenue from operations, experiencing a year-on-year increase of around 16 percent, from Rs. 80 crores in Q3 FY25 to Rs. 93 crores in Q3 FY26, demonstrating healthy project execution and improved billing traction. Likewise, its net profit surged during the same period from Rs. 6.3 crores to Rs. 7 crores, representing a rise of more than 11 percent YoY.
As of December 2025, the company’s unexecuted order book is Rs. 347.36 crores, with an additional Rs. 600+ crores in pipeline at various stages of finalisation. The strong renewal cycle of roads every 5-7 years, coupled with its market leadership, supports healthy order conversion visibility.
Markolines Pavement Technologies Limited is engaged in the business of offering the most comprehensive suite of services in highway maintenance – spanning from Major Maintenance & Repairs (MMR), specialised maintenance services and specialised construction activities.
It is involved in reintroducing and reviving micro-surfacing in India, bringing Cold In-Place Recycling (CIPR), Full Depth Reclamation (FDR), and Rigid Pavement (concrete road) techniques into the mainstream.
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