Highway Infrastructure Limited has announced the signing of a significant contract agreement with the National Highways Authority of India (NHAI) for the operation of Katiyara Fee Plaza in Bihar. The contract, valued at ₹15,63,99,930, represents a major business development for the infrastructure company.

Contract Details and Timeline

The company entered into the contract agreement on March 20, 2026, following the receipt of a Letter of Acceptance (LOA) on February 25, 2026. The takeover of the fee plaza operations is scheduled for April 5, 2026, with the entire contract to be executed within a 90-day timeframe.

Project Scope and Location

The contract encompasses the operation and collection of user fees at Katiyara Fee Plaza, strategically located at Km 77+821 of Village-Katiyara in District-Rohtas, Bihar. This fee plaza is part of the larger four-laning project of the Pararia-Mohania section of NH-319 (formerly NH-30), spanning from Km 54+530 to Km 115+330.

Key Responsibilities

Under the contract terms, Highway Infrastructure Limited will be responsible for:

• Operation and collection of user fees at the designated plaza
• Upkeep and maintenance of adjacent toilet blocks
• Recouping consumable items as part of facility management

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. SEBI/HO/CFD-PoD2/CIR/P/0155/2024 dated November 11, 2024. The company confirmed that this is a domestic contract with no related party transactions involved, and promoter groups have no interest in the awarding entity.

Business Impact

This contract award strengthens Highway Infrastructure Limited's position in the toll plaza operations segment. The 90-day execution timeline indicates an immediate revenue opportunity, with operations set to commence in early April 2026. The contract represents the company's continued engagement with NHAI for infrastructure operations across India's expanding highway network.

Highway Infrastructure Limited has initiated a postal ballot process to seek shareholder approval for strategic amendments to its corporate structure and business scope. The Board of Directors approved these proposals at their meeting held on March 06, 2026, subject to shareholder consent through special resolutions.

Key Proposals for Shareholder Approval

The postal ballot encompasses two major items requiring special resolution approval from shareholders:

Business Diversification Through Object Clause Amendment

The company proposes to alter Clause III A of its Memorandum of Association by adding two new sub-clauses that will significantly expand its business scope:

The Board identified significant growth opportunities in infrastructure support services, particularly in toll collection and highway amenities development, driven by India's expanding highway network and increasing private sector participation through PPP models.

Articles of Association Updates

The second proposal involves modernizing the company's Articles of Association to align with current legal frameworks:

E-Voting Process and Timeline

The company has engaged Central Depository Services (India) Limited (CDSL) to facilitate remote e-voting for all eligible shareholders:

Regulatory Compliance and Communication

In compliance with MCA General Circulars and SEBI regulations, the postal ballot notice is being distributed exclusively through electronic mode to shareholders whose email addresses are registered with the company or depositories. The notice will be available on the company's website, stock exchange platforms (BSE and NSE), and CDSL's e-voting portal.

Strategic Rationale and Future Outlook

The proposed amendments reflect the company's strategic vision to capitalize on emerging opportunities in India's infrastructure sector. The diversification into hospitality and toll operations aligns with the government's focus on highway development and the growing demand for integrated infrastructure services.

The Board emphasized that these amendments will provide operational flexibility to explore new revenue streams while maintaining focus on core infrastructure activities. The removal of Common Seal provisions demonstrates the company's commitment to modernizing its governance framework in accordance with contemporary corporate practices.

Shareholders can access detailed documentation and cast their votes through the designated e-voting platform, with comprehensive technical support available through CDSL's helpdesk services.