About Tarmat Limited

Tarmat Limited is an Indian engineering and construction company established in 1986 by Mr. Jerry Varghese. The company specializes in constructing airfields and national/state highways, with demonstrated expertise in runway resurfacing, taxi tracks, parking bays, roads, and bridges. Current projects include runway- and airside-related works at Mumbai, Cochin, Trichy, and Tuticorin airports, as well as highway construction in Mizoram and Jammu, illustrating its focus on transport infrastructure development across India. Notable completed projects include runway resurfacing at Mumbai International Airport and Delhi International Airport.

Tarmat went public in 2007 and is listed on both BSE and NSE. As of the reporting date, the company’s paid-up capital was Rs 24,06,42,000, with promoters holding 29.84%. The registered office is located in Mumbai, Maharashtra. The company operates solely within India and reports a single business segment focused on construction, without geographical segmentation beyond the domestic market.

Key Milestones of Tarmat Limited

• Founded in 1986, carving a niche in airside and highway construction across India.
• Completion of major runway resurfacing projects at Mumbai International Airport and Delhi International Airport.
• 2017 IPO, followed by listings on BSE and NSE with a currently reported paid-up capital of Rs 24,06,42,000 and promoter holding of 29.84%.

Tarmat Limited Business Segment

Tarmat operates in the infrastructure construction sector, covering airport runway strengthening and resurfacing, taxiways, aprons, parking bays, roads, bridges, and related civil works. It focuses exclusively on domestic operations within India and does not report any international geographical business segments.

Tarmat’s business is consolidated into a single operating segment—construction—covering infrastructure development for airports and highways. This includes execution of runway resurfacing, taxiways, apron construction, and highway projects. The company continues to emphasize operational efficiency and cost control in project execution.

Tarmat Limited Key Management

• Mr. Jerry Varghese – Chairman
• Mr. Dilip Varghese – Managing Director
• Mr. Amit Atmaram Shah – Executive Director
• Mr. S. Chakraborty – Company Secretary and Chief Financial Officer

Latest Updates on Tarmat Limited

• Capital raise: Approved issuance of 93,55,260 convertible warrants at Rs 95 each on April 24, 2024; 25,00,000 equity shares allotted upon warrant conversion on July 17, 2024, and a further 2,50,000 equity shares allotted on January 9, 2025, all to non-promoter/public investors on a preferential basis.
• Project execution: Continued works at airports including Mumbai, Cochin, Trichy, Tuticorin, and national highways in Mizoram and Jammu; recently completed the Jammu project and reported approximately Rs 250 crore in ongoing projects.
• Upcoming projects: In the process of securing a Rs 250 crore project at Chennai airport, alongside ongoing contracts in Mumbai and Jammu.