Innovision Secures Two NHAI Toll Plaza Mandates in Madhya Pradesh Worth ₹245 Crore
Innovision Limited secured two NHAI toll plaza mandates in Madhya Pradesh. The IDTL A & B plazas award is valued at ₹219.07 crore, and the Pachwara plaza award is ₹24.53 crore. Both are for a one-year term and include toll collection and maintenance of toilet blocks. The company sees these as extensions of its toll management operations.
The contracts are significant in value and extend the company's operational footprint, contributing to its business growth.
The company has secured new contracts for toll plaza management, which are expected to expand its operations and revenue streams.
Innovision Limited has received two Letters of Award (LoA) from the National Highways Authority of India (NHAI) for user fee collection at toll plazas in Madhya Pradesh. The first award is for the IDTL A and IDTL B Fee Plazas on the Indore-Dewas section of NH-3, with a commercial consideration of ₹219.07 crore. The second award is for the Pachwara Fee Plaza on the Jhansi-Khajuraho section of NH-39, with a commercial consideration of ₹24.53 crore.
Both mandates were secured through competitive e-tender processes and are for a term of one year. Beyond toll collection, the scope includes the upkeep and maintenance of adjacent toilet blocks. The company has already disclosed these developments to the stock exchanges.
Lt. Col. Randeep Hundal, Chairman & Managing Director, commented that these awards extend the company's toll management operations in Madhya Pradesh and reinforce its focus on this business vertical. He highlighted that the company's toll management vertical scales through the steady accumulation of individual plaza engagements. He also noted that the disclosed commercial consideration reflects the gross value, and the company retains an agreed spread, emphasizing that the meaningful measure of performance is the aggregate contribution across the plaza portfolio. He further indicated that NHAI's pipeline of toll asset tenders and the sector-wide shift towards digital fee collection may provide future opportunities.
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