Markolines Pavement Technologies Secures Two Work Orders Worth Rs. 135.20 Crore from BMC for Microsurfacing of Mumbai's Eastern and Western Express Highways

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4 November 2026: Markolines Pavement Technologies Limited (BSE: 543364, NSE: MARKOLINES), a leading highway operations and maintenance (O&M) and specialised infrastructure solutions company, has received two Letters of Acceptance-cum-Work Orders from the Brihanmumbai Municipal Corporation (BMC) aggregating Rs. 135.20 crore, inclusive of applicable GST and physical contingencies.

The orders have been awarded following BMC's acceptance of the Company's tender offers. They cover microsurfacing and resurfacing works on the Eastern Express Highway (EEH) and the Western Express Highway (WEH), the two principal north–south arterial corridors of Mumbai.

Order Details

Corridor

Scope of Work

Value (Rs. crore)*

Execution Period

Eastern Express Highway

Resurfacing of critical portions using microsurfacing

63.23

Six months, including monsoon

Western Express Highway

Improvement of main carriageway using microsurfacing technique

71.97

Six months, including monsoon

Total

135.20

*Inclusive of applicable GST and physical contingencies.

The Eastern Express Highway order, valued at Rs. 63.23 crore, involves the resurfacing of critical stretches of the corridor using microsurfacing. The Western Express Highway order, valued at Rs. 71.97 crore, involves the improvement of the main carriageway using the same technique. Both orders are to be executed within six months, including the monsoon period.

The orders have been awarded by a domestic government entity. The promoter and promoter group have no interest in the awarding entity, and the orders do not fall within the purview of related party transactions.

Strategic Significance

The two orders mark a significant urban mandate for Markolines in its home market, Mumbai. They deploy microsurfacing, a technology the Company is credited with reintroducing and reviving in India, on two of the busiest road corridors in the country.

Microsurfacing is a cold-applied, polymer-modified surface treatment that restores riding quality and skid resistance with minimal disruption to traffic. Its speed of application makes it well suited to high-density urban corridors such as the EEH and WEH.

The wins also extend Markolines' footprint in municipal road maintenance, complementing its core national and state highway O&M business.

Established in 2002, Markolines Pavement Technologies Limited (Markolines) is one of India's leading highway operations and maintenance (O&M) and specialised infrastructure solution providers, and the only listed company operating in this segment. The Company offers a comprehensive suite of highway maintenance services, spanning Major Maintenance & Repairs (MMR), Rigid Pavement (concrete road) Maintenance, specialised maintenance services and specialised construction activities.

Markolines has been at the forefront of technology innovation in the sector, from reintroducing and reviving microsurfacing in India to bringing Cold In-Place Recycling (CIPR) and Full Depth Reclamation (FDR) techniques into the mainstream. Headquartered in Navi Mumbai, the Company has executed over 5,670 lane kilometres of highway maintenance work across multiple states. It is leveraging its engineering expertise to expand into adjacent segments such as Marine Infrastructure and Sports Infrastructure.

Markolines migrated to the BSE Mainboard on 12 June 2025 and listed on the NSE Mainboard in October 2025.

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