Innovision Ltd wins NHAI mandate for Biratiya Kalan Fee Plaza worth ₹97.52 Cr
Innovision Limited has received a Letter of Award from the NHAI for the Biratiya Kalan Fee Plaza in Rajasthan, valued at ₹97,52,79,635. The one-year contract, awarded on July 21, 2026, involves toll collection and facility maintenance. Management noted the asset-light nature of the vertical and clarified that the disclosed amount represents gross collections, not direct revenue.
*this image is generated using AI for illustrative purposes only.
Innovision Limited has secured a Letter of Award (LoA) from the National Highways Authority of India (NHAI) to operate as the user fee collection agency at the Biratiya Kalan Fee Plaza. Located on the Bar-Bilara-Jodhpur section of NH-112 in Rajasthan under NHDP Phase-IV, the contract was awarded on July 21, 2026. The mandate, valued at ₹97,52,79,635, expands the company's toll management footprint in the region and reinforces its presence within the NHAI's user fee collection framework.
Order Details
The project was awarded through a competitive e-tender process under tender ID NHAI/13013/547/CO/26-27/CB/Biratiya Kalan & Binawas FP/E99375/R-1787. The engagement spans a period of one year and encompasses toll collection as well as the upkeep and maintenance of adjacent toilet blocks, including the recouping of consumable items. The order is domestic in nature and does not involve any interest from the promoter, promoter group, or group companies, nor does it constitute a related party transaction.
The key parameters of the awarded contract are summarised below:
| Sr No. | Particulars | Remarks |
|---|---|---|
| 1 | Name of the entity awarding the order | NHAI (National Highways Authority of India) |
| 2 | Nature of order | Toll collection and facility maintenance contract |
| 3 | Time period for execution | 1 year |
| 4 | Commercial consideration | ₹97,52,79,635 |
| 5 | Promoter/Group interest | No |
Management Commentary
Lt. Col. Randeep Hundal, Chairman & Managing Director of Innovision Limited, stated that the mandate further expands the company's toll management operations in Rajasthan. He highlighted that the vertical has scaled through the steady accumulation of individual plaza engagements rather than dependence on any single award. The underlying model remains asset-light, with working capital forming the primary requirement, allowing for portfolio expansion without a proportionate rise in capital intensity.
Management clarified that the commercial consideration reflects the gross value of the engagement, where collections are remitted to NHAI and the company retains an agreed spread. This figure should not be interpreted as an expected direct addition to net revenue. The company intends to maintain disciplined participation in NHAI's pipeline of toll asset tenders, subject to competitive bidding.
Historical Stock Returns for Innovision
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.70% | +0.16% | -1.12% | -23.25% | -23.25% | -23.25% |
What is the expected profit margin or 'spread' Innovision retains from the gross contract value?
Does Innovision plan to bid for similar NHAI contracts in other regions to diversify geographically?
How will the company manage working capital requirements if it secures additional short-term toll plaza mandates?
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