Madhya Pradesh: Highway Infrastructure (“HIL”), an integrated infrastructure development and management company with a strong presence in Tollway collection, EPC Infra and Real Estate, announced its financial results for the Third quarter and Nine months ended December 31, 2025.
HIL delivered a strong Q3FY26 performance with EBITDA rising 10.7% YoY and PAT increasing 34.3% YoY. The Company secured over Rs. 437.3 crore new tollway collection contracts during past 2-3 months.
Key Milestones Achieved
- Reached the highest-ever consolidated order book of Rs. 1,160.0 crore (as on Jan’26), reflecting ~50% growth from Rs. 775.0 crore in Sep’25.
- Secured the largest toll collection order in HIL’s history worth Rs. 328.8 crore Kaza Fee Plaza contract on NH‑16, Andhra Pradesh.
Operational Highlights
Tollway Operations – Rapid Scale-Up Across Key Corridors
- Tollway operations order book expanded 181% since Sep’25 to Rs. 536.5 crore as on date.
- Major tolling contracts secured in the quarter include:o Kaza Fee Plaza, Andhra Pradesh worth Rs. 328.8 crore
o Mundka Fee Plaza (UER-II, Delhi–Haryana) worth Rs. 64.7 crore
o Jawar Fee Plaza, Uttar Pradesh worth Rs. 32.0 crore
o Ujjain–Garoth Highway, Madhya Pradesh worth Rs. 11.8 crore
o Delhi–Vadodara Greenfield Expressway (Rajasthan); Contract extension of Rs. 6.2 crore
EPC Infrastructure – Consistent Pipeline & Execution
- EPC order book increased to Rs. 623.6 crore with robust project inflows.
- Key EPC award includes:
o Rs. 69.7 crore urban road development project from the Indore Development Authority.
Consolidated Financial Performance:
Financial Highlights:
- Total Income for Q3FY26 stood at Rs. 128.4 Cr against Rs. 142.0 Cr in Q3FY25. During 9MFY26, total income stood at Rs. 356.2 Cr against Rs. 368.9 Cr in 9MFY25
- EBITDA for Q3FY26 was Rs. 9.6 Cr compared to Rs. 8.7 Cr in Q3FY25. During 9MFY26 stood at Rs. 35.4 Cr against Rs. 21.4 Cr in 9MFY25, growth of 65.2% YoY
- Profit after Tax stood at Rs. 6.3 Cr in Q3FY26 as against Rs. 4.7 Cr in Q3FY25, growth of 34.3% YoY. During 9MFY26, Profit after Tax grew 121.5% YoY to Rs. 23.1 Cr
Arun Kumar Jain, Managing Director, Highway Infrastructure Limited said: “Q3FY26 has been a defining quarter for HIL with strong financial performance and robust order inflows across tollway and EPC segments. We recorded our highest-ever order book, surpassing our FY26 target well ahead of schedule. The award of the Kaza Fee Plaza, our largest toll contract to date, further strengthens our position as a scaled, asset-light toll operator.
Alongside tollway expansion, we continue to evaluate adjacencies including renewable EPC, ropeway operations, and urban infrastructure opportunities. With a healthy pipeline and disciplined execution, we remain confident of sustaining the momentum in the coming quarters.”
