Highway Infrastructure Limited has secured a significant contract worth ₹154.60 crores from the National Highways Authority of India (NHAI) for fee plaza operations on the strategic Vadodara-Mumbai Expressway. The Letter of Acceptance (LOA) was issued on February 16, 2026, marking a major business development for the infrastructure company.

Contract Details and Scope

The contract encompasses comprehensive operations at three key fee plazas along the Eight Lane Vadodara-Mumbai Expressway. The engagement covers user fee agency services across multiple strategic locations:

The contract spans several expressway sections including VME Pkg-4 Ankleshwar to Manubar Section (Km 279.00 to Km 292.00), VME Pkg-5 Kim to Ankleshwar Section (Km 254.430 to Km 279.000), VME Pkg-6 Ena to Kim Section (Km 217.500 to Km 254.430), and VME Pkg-7 Gandeva to Ena Section (Km 190.000 to Km 217.500).

Financial and Operational Parameters

Strategic Significance

The Vadodara-Mumbai Expressway represents a key segment of the 1,350-km Delhi-Mumbai Expressway, designed as an eight-lane, access-controlled corridor. This greenfield alignment is expected to reduce travel time between Vadodara and Mumbai from 9-10 hours to approximately 4.5 hours, significantly improving passenger and freight movement. The corridor links major industrial hubs across Gujarat and Maharashtra and integrates with the Western Dedicated Freight Corridor.

Management Commentary

Commenting on the development, Mr. Arun Kumar Jain, Managing Director of Highway Infrastructure Limited, stated: "We are honored to receive this Letter of Acceptance from NHAI for the Moti Naroli, Ena, and Gandevi Fee Plazas, one of the most strategically significant stretches on the Vadodara-Mumbai Expressway. This corridor is set to redefine travel and logistics across western India, and our participation further strengthens HIL's position as a trusted national operator in high-speed, access-controlled highway ecosystems."

Additional Responsibilities and Compliance

Beyond fee collection operations, Highway Infrastructure Limited will undertake upkeep and maintenance of adjacent toilet blocks, including recouping consumable items. The company has confirmed that the contract does not involve any related party transactions and that promoter or promoter group companies have no interest in NHAI. The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This domestic contract award reinforces Highway Infrastructure Limited's position in the highway operations sector and adds substantial value to its order book with significant revenue opportunity from NHAI's expressway infrastructure projects.

Highway Infrastructure Limited has announced the resignation of Ms. Khushboo Palod from her position as Group Corporate Legal Officer, effective February 16, 2026. The company informed stock exchanges BSE and NSE about this key personnel change under regulatory compliance requirements.

Resignation Details

The resignation becomes effective from the close of business hours on February 16, 2026. The company has provided comprehensive disclosure as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Reason for Departure

In her resignation letter, Ms. Palod stated that she is leaving to pursue an entrepreneurial journey as an independent professional. She emphasized that this decision comes after completing over a decade of professional experience in the corporate industry. The resignation letter confirms that there are no other material reasons for her departure beyond those stated.

Regulatory Compliance

Highway Infrastructure Limited has fulfilled all regulatory disclosure requirements by informing both stock exchanges. The company provided detailed information as mandated under SEBI Master Circular No. SEBI/HO/CFD-PoD2/CIR/P/0155 dated November 11, 2024.

Company Acknowledgment

Ms. Palod expressed gratitude to the Board and management for their support during her tenure with the company. The resignation was processed through proper corporate governance channels, with Company Secretary & Compliance Officer Palak Rathore handling the regulatory communications.

The company trades on BSE with scrip code 544477 and on NSE with symbol HILINFRA, under ISIN INE00RL01028.