Markolines Secures ₹188.8 Mn Highway Upgrade Deal, Extends Infra Momentum

Image Source: Investor Zone

Markolines Pavement Technologies Ltd. has received a fresh Letter of Award (LoA) valued at ₹188.8 million, adding to its growing portfolio of infrastructure contracts in 2025. The award, issued by a public sector authority, reinforces the company’s leadership in highway operations and maintenance (O&M), particularly in microsurfacing and pavement rehabilitation.

Key Highlights:

The ₹188.8 million LoA is part of a broader series of wins, including a ₹508 million work order from the BrihanMumbai Municipal Corporation earlier this year for upgrading the Eastern and Western Express Highways.
Markolines specializes in microsurfacing, cold inplace recycling, and fulldepth reclamation, offering costeffective and sustainable road maintenance solutions.
The company has also secured multiple contracts in 2025 from entities like Vadodara Kim Expressway Pvt. Ltd. and Varanasi Aurangabad NH2 Tollway Pvt. Ltd., pushing its cumulative order book well past ₹1 billion.
With a focus on technologydriven O&M services, Markolines is expanding its footprint across India’s national and state highway networks.
The firm recently received final approval to migrate from the BSE SME platform to the Mainboard, signaling investor confidence and operational maturity.

Outlook:

As India ramps up infrastructure spending under the PM Gati Shakti plan, Markolines is wellpositioned to capitalize on the demand for specialized road maintenance. The latest LoA not only boosts revenue visibility but also strengthens its reputation as a goto partner for urban and intercity mobility upgrades.

Sources: Business Standard, Economic Times, Markolines Investor Announcements