Contract Award Details
Innovision Limited has received a Letter of Award (LoA) from the National Highways Authority of India (NHAI) for engagement as the user fee collection agency at the Turup fee plaza on the Ranchi Bypass, Jharkhand. The contract falls under NHDP Phase-III (EPC Package-1).
Key Contract Specifications
- Award Date: 17 July 2026
- Contract Duration: One year
- Total Commercial Consideration: ₹44,60,29,635 (Rupees Forty-Four Crore Sixty Lakh Twenty-Nine Thousand Six Hundred and Thirty-Five only)
- Scope of Work: Toll collection operations at the plaza, along with upkeep and maintenance of adjacent toilet blocks including recouping of consumable items
- Procurement Method: Competitive bidding process conducted through e-tender
Strategic and Operational Context
This engagement adds to Innovision's existing portfolio of NHAI toll plazas and reinforces the company's presence within the toll collection ecosystem in Jharkhand. The contract reflects the company's continued participation in NHAI's competitive tendering process for toll management contracts across India.
Management Commentary
Lt. Col. Randeep Hundal, Chairman & Managing Director, provided the following insights:
- The Turup fee plaza contract extends the company's operational presence into Jharkhand
- The toll management model remains asset-light with capital requirements largely working-capital in nature
- Growth in this vertical comes from cumulative addition of plazas across states rather than individual contracts
- India's toll collection sector benefits from ongoing expansion of NHAI's tendering pipeline and shift toward fully digital collection
- Technical qualification requirements and execution experience are important factors in competitive NHAI tenders
- The disclosed commercial consideration reflects overall contract value, not proportionate addition to net revenue (company remits collections to NHAI and retains an agreed spread)
- The company remains focused on disciplined participation in NHAI's pipeline, prudent working capital management, and consistent execution standards
Company Background
Innovision Limited is an integrated services company offering solutions across:
- Manpower outsourcing
- Toll management
- Drone-based services
The company recently completed its Initial Public Offering aggregating approximately ₹3,192.5 million, comprising a mix of fresh issue and offer for sale, and is listed on both BSE and NSE.
Disclaimer
The document contains forward-looking statements subject to risks and uncertainties including government actions, local developments, and technological risks. The company does not commit to publicly updating these statements to reflect future events or circumstances.