The NHAI contracts cover the operation and collection of user fees at two fee plazas and include the upkeep and maintenance of adjacent toilet blocks, including the replenishment of consumables. Both contracts have a tenure of one year and were awarded through a competitive electronic tender process.
The Palayam Fee Plaza contract in Tamil Nadu is valued at Rs. 3.4 bn, making it the highest-value contract awarded to Highway Infrastructure to date. The plaza is located at Km 154/500 of NH-44, on the Krishnagiri to Thumbipadi section covering Km 94.000 to Km 180.000.
The Baiti Kala Fee Plaza contract in Uttar Pradesh is valued at Rs. 917.8 mn. It covers the plaza at design Km 175.050 on the four-lane Sultanpur–Varanasi section of NH-56, also identified as the new NH-731.
The warrants will be issued to promoter and promoter group members Anoop Agrawal, Riddharth Jain and Tirth Agrawal. Each warrant will be convertible into one equity share with a face value of Rs. 5. The board has also approved an increase in authorised share capital and the proposed acquisition of a controlling stake in Indore Highway Real Estates.
Highway Infrastructure, incorporated in 2006 and headquartered in Indore, operates in infrastructure services, including user fee collection at national highway fee plazas for NHAI. The company said the approved measures would support its expansion across infrastructure activities. Its equity shares are listed on the BSE and the National Stock Exchange of India.