Shares of Highway Infrastructure surged nearly 5% on September 17, hitting an intraday high of Rs 45.90 on the NSE after the company secured a Rs 220.66 crore toll collection and plaza operations contract from the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA).

The company received a Letter of Acceptance from UPEIDA on September 16 for operations on the Gorakhpur Link Expressway. The contract has a tenure of two years and covers collection of user fees and operation of toll plazas along the expressway.

As part of the agreement, Highway Infrastructure will also deploy four patrol-cum-safety vehicles along with the required personnel. The contract is valued at Rs 105.07 crore for the first year, with a 10% escalation for the second year, taking the total consideration to Rs 220.66 crore.

The latest order adds to the company’s growing toll operations business. Highway Infrastructure had recently secured an Rs 80.17 crore contract from the National Highways Authority of India for operations at the Palayam Fee Plaza in Tamil Nadu. It had also won a Rs 28.69 crore toll plaza contract at the Kozhinjipatti Fee Plaza in the state.

The new order also provides greater revenue visibility over the next two years. The company had a consolidated order book of around Rs 778 crore as of June 30, 2026. However, its recent financial performance showed pressure on profitability. Consolidated revenue rose sharply to Rs 303.28 crore in Q1 FY27, while net profit declined to Rs 1.06 crore from Rs 7.25 crore a year earlier.

The contract strengthens Highway Infrastructure’s presence in toll plaza management and adds another sizable project to its portfolio. Investors will track the execution of the Gorakhpur Link Expressway contract and whether the additional revenue translates into stronger profitability in the coming quarters.

However, by 12:46 pm, the shares of Highway infrastructure failed to sustain the positive momentum and lost all its gain and were trading 0.18% lower at Rs 43.75 on NSE. 

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