Highway Infrastructure Limited has executed the contract agreement for its largest-ever single work contract, valued at ₹328.77 crores, with the National Highways Authority of India (NHAI). The company announced that it will take over the Kaza Fee Plaza operations on January 23, 2026, marking a significant milestone in its toll operations business.

Contract Execution Details

The company executed the contract agreement on January 8, 2026, following the Letter of Award (LOA) received in December 2025. The takeover is scheduled for January 23, 2026, as per the regulatory filing under Regulation 30 of SEBI Listing Regulations.

Order Book Performance

This contract has propelled HIL's order book to exceed ₹1,000 crores, demonstrating substantial growth across different segments:

The remarkable 340% increase in toll projects since March highlights the company's growing presence in the toll operations segment.

Company Profile

Highway Infrastructure Limited operates as an integrated infrastructure development and management company with presence across 11 states and 1 Union Territory. The company's core business segments include toll operations, EPC infrastructure, and real estate. With a market capitalization of ₹473.57 crores, HIL has positioned itself as a significant player in the infrastructure sector.

The execution of this contract reinforces HIL's capability to handle high-value projects and enhances its revenue visibility in the toll operations business. The company's advanced technology adoption for efficient toll operations and project execution continues to support its growth strategy across infrastructure segments.

Highway Infrastructure Limited , a diversified infrastructure company, has reported strong financial performance for the second quarter of fiscal year 2026. The company, which recently held its first earnings conference call since listing, showcased significant growth in key financial metrics.

Financial Highlights

For the half-year ended September 30, 2025, the company reported:

• Total revenue of Rs. 227.80 crores, compared to Rs. 226.80 crores in H1 FY25
• EBITDA of Rs. 25.80 crores, a 102% year-on-year increase
• EBITDA margin of 11.30% for H1 FY26

Operational Highlights

Highway Infrastructure Limited operates across three verticals:

1. EPC Infrastructure
2. Tollway Collection
3. Real Estate

The company has achieved its highest-ever order book of Rs. 775.00 crores, marking a 46% increase in H1 FY26. This growth is attributed to:

• Commencement of toll collection at multiple new plazas
• Securing new EPC contracts

Financial Position

The company maintains a strong balance sheet with:

• A debt-to-equity ratio of 0.28x
• Net cash equivalents of Rs. 52.80 crores

Future Outlook

Management has provided guidance for the coming quarters and fiscal years:

• Expectation of 60-65% of annual revenue to be booked in Q3 and Q4
• Target EBITDA margins of 8-12% for FY27-28
• Aim to achieve an order book of Rs. 1,000.00 crores by year-end

IPO Fund Utilization

The company recently completed its Initial Public Offering (IPO), raising net proceeds of Rs. 81.85 crores. As of September 30, 2025:

• Rs. 44.72 crores have been utilized
• Rs. 37.13 crores remain unutilized and are currently invested in fixed deposits and bank accounts

The funds are being deployed primarily for working capital requirements in the EPC and Toll segments, as well as for general corporate purposes.

Highway Infrastructure Limited's strong performance in Q2 FY26, coupled with its growing order book and strategic fund utilization, positions the company for continued growth in the infrastructure sector. The management's focus on expanding across multiple verticals and geographical areas suggests a robust outlook for the coming quarters.