HIGHWAY INFRA WINS Rs 340 CRORE PALAYAM TOLL PLAZA CONTRACT

has secured user fee collection contract from the National Highways Authority of India (NHAI) for Palayam Fee Plaza contract valued at Rs 340.08 crore. The plaza is located at Km 154/500 of NH-44, along the Krishnagiri to Thumbipadi section spanning 94km to 180km. This is the highest-value contract awarded to the company to date. Further, the company has also approved a preferential issue of warrants to the promoter group, an increase in authorised share capital and the acquisition of a controlling stake in Indore Highway Real Estates Private Ltd. Having a market cap of Rs 500 crore, the company has delivered a good profit growth of 40% CAGR over last 3 years, and with such large order wins, the company's profitability is expected to grow in the coming years.