Highway Infrastructure has formalized a ₹28.69 crore contract with the National Highways Authority of India (NHAI) for the operation of the Kozhinjipatti Fee Plaza in Tamil Nadu. The company signed the definitive agreement on July 27, 2026, following an earlier Letter of Acceptance dated July 24, 2026. The deal covers a 90-day period for toll collection and facility maintenance on the Dindigul–Samayanallur section of NH-44, enhancing the firm’s revenue visibility and geographic footprint in South India.

The transaction was disclosed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. SEBI/HO/CFD-PoD2/CIR/P/0155 dated November 11, 2024. The scope includes user fee collection, upkeep of adjacent toilet blocks, and recouping consumable items. Palak Rathore, Company Secretary & Compliance Officer, confirmed the execution of the contract agreement to stock exchanges.

Contract Specifications

The following table outlines the key parameters of the award:

Strategic Significance

Arjun Kumar Jain, Managing Director of Highway Infrastructure Limited, stated that the contract strengthens the company’s tollway collection portfolio and reflects confidence in its execution capabilities. The company operates across 12 states and one Union Territory, leveraging advanced technology for efficient toll operations. This addition supports its strategy to build a scaled and diversified toll operations platform across India.

What the Numbers Show

The ₹28.69 crore value for a 90-day operation implies an annualized run-rate revenue potential of approximately ₹114.76 crore if similar contracts were secured continuously. However, as this is a specific short-term mandate, it primarily serves to bolster immediate cash flows and demonstrate operational capacity rather than representing long-term recurring revenue. The company’s market capitalisation stands at ₹300 crores, making this contract a modest but meaningful addition to its order book.

Highway Infrastructure Limited shareholders have approved the insertion of Article 154A into its Articles of Association, permitting members to waive their right to receive dividends. The resolution was passed through a postal ballot process that concluded on July 13, 2026, with 99.96% of votes in favour. Additionally, the members approved the re-appointment of Mr. Arun Kumar Jain as Managing Director and Mr. Anoop Agrawal as Whole-Time Director for a further term of 3 years each.

The remote e-voting commenced on June 14, 2026, at 09:00 a.m. IST and concluded on July 13, 2026, at 05:00 p.m. IST. The Scrutinizer's Report, dated July 14, 2026, confirmed that all three resolutions received the requisite majority. The detailed results were disclosed to the stock exchanges in accordance with Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Alteration of Articles of Association

The amendment introduces clause 154A, which enables equity shareholders to voluntarily forgo interim or final dividends for any financial year. This waiver must be submitted in writing as prescribed by the Board and becomes irrevocable from the Record Date or Book Closure date. The company will not be liable to pay dividends to members who have executed such a waiver.

Voting Results Summary

The postal ballot saw participation from 153 shareholders representing 53,200,541 shares, which constituted 74.18% of the total outstanding shares. The resolutions were passed with overwhelming support from both promoters and public shareholders.