Highway Infrastructure Limited has secured two user fee collection contracts worth a combined ₹431.86 crore from the National Highways Authority of India (NHAI). Both contracts have a tenure of one year and cover toll collection operations and maintenance of adjacent toilet blocks, including replenishment of consumables.
The larger contract, valued at ₹340.08 crore, covers operations at the Palayam Fee Plaza in Tamil Nadu. Located at kilometre 154/500 of National Highway 44, the plaza serves the Krishnagiri to Thumbipadi section, spanning from kilometre 94.000 to kilometre 180.000. The company said this is the highest-value contract it has received to date.
The second contract, worth ₹91.78 crore, relates to the Baiti Kala Fee Plaza in Uttar Pradesh. The facility is situated at design kilometre 175.050 on the four-lane Sultanpur-Varanasi section of NH-56, now designated NH-731.
NHAI awarded both contracts through a competitive e-tendering process. The orders expand Highway Infrastructure’s toll operations portfolio across Tamil Nadu and Uttar Pradesh, with the company responsible for fee collection and specified upkeep activities at the two plazas during the contract period.
Anoop Agarwal, Whole-Time Director and Chief Financial Officer of Highway Infrastructure Limited, said the orders strengthen the company’s order book across two states. He also identified the Palayam contract as a milestone for the company, given its value.
Separately, the company’s board approved a preferential issue of up to one crore fully convertible warrants to promoter group members Anoop Agrawal, Riddharth Jain and Tirth Agrawal, potentially raising up to ₹49 crore. Each warrant is convertible into one equity share with a face value of ₹5. The board also approved an increase in authorised share capital and the acquisition of a controlling stake in Indore Highway Real Estates Private Limited.