HIGHWAY INFRASTRUCTURE L

Operates highway toll plazas, executes infrastructure construction work and hires out machinery across India. Highway Infrastructure Limited, listed on NSE and BSE, recorded FY26 revenue of Rs 608.002 cr (net profit Rs 31.806 cr) split across three divisions: Toll at Rs 471.435 cr (77.5% of segment revenue, EBIT Rs 30.921 cr), Work Contract and Machineries & Equipments Hire at Rs 126.438 cr (20.8%, EBIT Rs 16.023 cr), and Real Estate at Rs 10.129 cr (1.7%, EBIT Rs 4.603 cr). The tolling arm collects user fees from vehicles on national and state highways under contracts from NHAI and other public agencies, with the largest single mandate being the Kaza Fee Plaza on NH16 worth Rs 328.8 cr. The construction and machinery-hire arm builds roads and other infrastructure and rents out equipment, primarily to government clients; the real estate arm runs commercial properties, with management positioning it for recurring annuity income via leasing. Materials accounted for 94.1% of revenue (employees 2.3%, other opex 1.9%), an input-heavy cost shape consistent with a subcontracted contracting model. Management has guided FY27 revenue of about Rs 1,000 cr, split roughly Rs 700 cr from EPC and Rs 300 cr from toll plus real estate.