Contract Award Details

Innovision Limited has been awarded a Letter of Award (LoA) by the National Highways Authority of India (NHAI) to operate as the user fee collection agency at the Aashpur Fee Plaza. The plaza is situated at Design Km. 231.100 on the Aligarh-Kanpur section of National Highway 91 in the state of Uttar Pradesh.

Contract Specifications

  • Award Date: The mandate was granted on August 10, 2026
  • Contract Term: One year engagement
  • Scope of Work: Toll collection operations plus upkeep and maintenance of adjacent toilet blocks, including recouping of consumable items
  • Commercial Consideration: ₹83,29,29,635 (Rupees Eighty-Three Crore Twenty-Nine Lakh Twenty-Nine Thousand Six Hundred and Thirty-Five only) gross value
  • Procurement Method: Award followed a competitive e-tender process

Financial Model Clarification

The management specifically clarifies that the disclosed commercial consideration of ₹83.29 crore represents the gross value of the engagement under the toll collection framework. Under this model:

  • Collections are remitted to NHAI
  • The Company retains an agreed spread
  • This figure should not be interpreted as an expected direct or proportionate addition to net revenue
  • The meaningful performance measure is the aggregate contribution across the expanding plaza portfolio

Strategic Implications

This award represents a further addition to Innovision's toll management footprint and strengthens the Company's presence in Uttar Pradesh. The management commentary highlights several strategic aspects:

  • Business Model: The toll management vertical is asset-light in nature with working capital forming the primary requirement
  • Growth Strategy: The vertical has scaled through steady accumulation of individual plaza engagements rather than dependence on any single award
  • Market Position: The award builds on the company's standing within NHAI's user fee collection framework
  • Future Opportunities: NHAI's continuing pipeline of toll asset tenders and sector-wide shift toward fully digital fee collection may provide future bidding opportunities

Management Commentary

Lt. Col. Randeep Hundal, Chairman & Managing Director, emphasized:

  • The award extends the Company's toll management operations in Uttar Pradesh
  • Reinforces continued focus on the toll management business
  • Demonstrates the approach of participating in open, competitive processes
  • Strengthens credentials for participating in future competitive bidding opportunities
  • The company intends to remain disciplined in participation across the pipeline while maintaining execution standards

Company Background

Innovision Limited is an integrated services company offering solutions across manpower outsourcing and toll management. The company maintains ISO 9001:2008, ISO/IEC 27001:2005, ISO 14001:2015, and OHSAS 18001:2007 certifications.