Synopsis:
Highway Infrastructure Limited has received a ₹18.97 crore contract from NHAI for operating and maintaining a 4-lane Greenfield Expressway spur from Bandikui to Jaipur, Rajasthan.
The shares of Micro-Cap company, which specializes in the construction, management, and maintenance of roads, highways, and bridges, jumped by upto 3 percent upon receiving LoA from the National Highways Authority of India (NHAI) for operating the 4-Lane Greenfield Expressway.
With a market capitalization of Rs. 674.60 Crores on Thursday, the shares of Highway Infrastructure Ltd jumped upto 2.8 percent after making a high of Rs. 96.88 compared to its previous closing price of Rs. 94.24.
Highway Infrastructure Ltd, engaged in the construction, management, and maintenance of roads, highways, and bridges, has received a Letter of Acceptance (LOA) from the National Highways Authority of India (NHAI).
The LoA is for the operation and maintenance of a 4-lane Greenfield Expressway spur in Rajasthan, connecting the Delhi-Vadodara Greenfield Expressway to Jaipur. The project involves user fee collection at a fee plaza and the upkeep of nearby toilet blocks. The contract is valued at Rs. 18.97 crore and is to be completed within 90 days.
Financials & Others
The company’s revenue rose by 38.07 percent from Rs. 82.28 crores to Rs. 113.60 crores in Q1FY25-26. Meanwhile, Net profit rose from Rs. 3.16 crores to Rs. 7.20 crores during the same period.
The company has shown strong financial performance, with a ROCE of 19.6% and ROE of 18.8%. It has a debt-to-equity ratio of 0.54, indicating a balanced financial structure. Over the past 5 years, the company has delivered an impressive 23.7% CAGR in profit growth.
Highway Infrastructure Ltd (HIL) is an integrated infrastructure development and management company based in Hyderabad, India, with a diversified portfolio spanning tollway collection, EPC (Engineering, Procurement, and Construction) infrastructure, and real estate development.
The company has built a strong track record with nearly three decades of experience in managing toll operations and executing infrastructure projects across many states and a Union Territory, including prominent corridors like the Delhi–Meerut Expressway, where it implemented innovative ANPR (Automatic Number Plate Recognition) technology.
The company’s EPC division undertakes diverse infrastructure projects, including highways, bridges, water tanks, and irrigation structures for both government and private clients, while the real estate division focuses on the development and sale of residential and commercial properties, mainly in central India.
The Highway Infrastructure Ltd IPO opened for subscription from August 5 to August 7, 2025, with a total issue size of ₹130 crore, comprising a ₹97.52 crore fresh issue and a ₹32.48 crore offer for sale. The price band was set at ₹65–₹70 per share, and the minimum lot size for retail investors was 211 shares, requiring an investment of approximately ₹14,770.
The IPO used a book-building method and is set to be listed on both the BSE and NSE exchanges on August 12, 2025. The offering aimed to raise capital for infrastructure projects, working capital requirements, and to provide an exit for existing shareholders through the offer for sale component.
Written by Sridhar J
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