Highway Infrastructure Limited Secures ₹14.60 Crore Beverly Greens Contract
Highway Infrastructure Limited announced receiving a ₹14.60 crore work order from Sacham Highway Real Estates Private Limited for construction and development work at the Beverly Greens residential colony project in Indore. The contract, disclosed under SEBI regulations, involves comprehensive development work for multiple plots with a two-year execution timeline and represents a related party transaction conducted on arm's length basis.
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Highway Infrastructure Limited has received a work order worth ₹14.60 crore from Sacham Highway Real Estates Private Limited for construction and development work at the Beverly Greens residential project. The company announced this development through a regulatory filing under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Contract Details
The work order encompasses construction and development activities for the Beverly Greens residential colony project, specifically for plots located in Village Tillora Khurd, Tehsil Bicholi-Hapsi, Indore. The contract value is approximately ₹14.60 crore, subject to variation depending upon site conditions, plus applicable GST.
| Parameter: | Details |
|---|---|
| Contract Value: | ₹14.60 crore (approximately) |
| Client: | Sacham Highway Real Estates Private Limited |
| Project Name: | Beverly Greens |
| Project Type: | Residential Colony |
| Location: | Village Tillora Khurd, Indore |
| Execution Period: | 2 Years |
Project Specifications
The Beverly Greens project involves multiple plot numbers at specific khasra locations including 24/4/2, 40/2, 24/3, 35/1/2, and several other designated areas within the residential colony development. The work order covers comprehensive construction and development activities for this residential project.
Related Party Transaction
As disclosed in the regulatory filing, the contract falls within related party transactions but is conducted on an arm's length basis and in the ordinary course of business. The promoter/promoter group companies have an interest in the entity that awarded the order, ensuring transparency in the transaction structure.
Business Impact
This ₹14.60 crore contract represents a significant addition to Highway Infrastructure Limited's order book and reinforces the company's position in residential infrastructure development. The two-year execution timeline provides revenue visibility for the company's construction and development operations.
How might this ₹14.60 crore order impact Highway Infrastructure Limited's revenue growth trajectory over the next two years?
Could this residential project success lead to more contracts from Sacham Highway Real Estates or other developers in the Indore region?
What potential risks could site condition variations pose to the project's profitability and timeline?
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