Highway Infrastructure Q1 FY27 Revenue Up 171% YoY

Board Meeting Details

The Board of Directors of Highway Infrastructure Limited met on 11th August, 2026. The meeting commenced at 3:00 P.M. and concluded at 4:45 P.M.

Key Outcomes

The Board inter alia approved:

The Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended 30th June, 2026.
Took note of the Limited Review Report issued by the Statutory Auditors, M/s. Anil Kamal Garg & Company, on these unaudited financial results.

Financial Results Attachment

A copy of the Unaudited Consolidated and Standalone Financial Results, together with the Limited Review Report, was enclosed as "Annexure A" in accordance with Regulation 33 of the Listing Regulations.

Standalone Financial Results - Segment Revenue (₹ in million)

| Toll Division | 2,739.45 | 2,111.56 | 913.47 | 4,714.35 |

| Work Contract & Machineries Hire Division | 278.58 | 597.64 | 199.77 | 1,264.38 |

| Real Estate Division | 14.79 | 37.04 | 6.27 | 101.29 |

| Total Sales | 3,032.82 | 2,746.25 | 1,119.51 | 6,080.02 |

Standalone Financial Results - Segment Results (₹ in million)

| Toll Division | 54.87 | 134.86 | 100.22 | 309.21 |

| Work Contract & Machineries Hire Division | 42.70 | 39.89 | 14.22 | 160.23 |

| Real Estate Division | 4.26 | 34.84 | 34.73 | 46.03 |

| Sub Total | 101.83 | 209.59 | 149.17 | 515.47 |

| Other un-allocable expenditure (net) | (86.42) | (85.70) | (52.14) | (89.23) |

| Total Profit / (Loss) Before Tax | 15.41 | 123.89 | 97.03 | 426.23 |

Consolidated Financial Results - Subsidiary Information

The consolidated results include the Parent Company, Highway Infrastructure Limited, and its subsidiary, Highway and Tandon Tollways Private Limited.

The subsidiary's unaudited financial results for the period ended 30th June 2026 reflected total revenues of ₹11.70 million, total net loss after tax of ₹(0.11 million), and total comprehensive income of ₹(0.11 million). These results were not reviewed by the subsidiary's auditors and were provided by Management.

Limited Review Report Conclusion

The Statutory Auditors, after a limited review, stated that nothing has come to their attention that causes them to believe that the accompanying Statement contains any material misstatement.

IPO Proceeds Utilization Certificate

M/s. Anil Kamal Garg & Company, Statutory Auditors, issued a certificate on the utilization of IPO proceeds for the quarter ended June 30, 2026.

Details of IPO Proceeds (₹ in million):

Gross Proceeds from IPO: 975.20
Less: IPO Expenses: 146.36
Net Proceeds Available: 828.84
Actual Proceeds received in monitoring account: 828.84

Deployment of IPO Proceeds (₹ in million):

| Working capital for EPC | 400.00 | 224.35 | 0.12 | 224.47 | Working capital inter segment is allowed. |

| Working capital for Toll | 250.00 | 585.02 | - | 585.02 | |

| General Corporate Purpose (GCP) | 178.84 | 22.18 | 0.70 | 22.88 | |

| Total | 828.84 | 831.55 | 0.82 | 832.37 | |

Interest and Balance:

Interest Income earned on FDRs: ₹(3.53) million (in HDFC Bank Ltd.)
Balance lying in Monitoring Account as on 30th June 2026: ₹ Nil

Monitoring Agency Report

Infomerics Valuation and Rating Limited, the monitoring agency, submitted its report for the quarter ended June 30, 2026.

Key Findings:

Deviation from the objects: Nil
Range of Deviation: Nil
The company utilized an excess amount than mentioned in the prospectus for working capital, but the total amount was within the amount received. This was approved by the Board on September 01, 2025.
Overall fund utilization remains in line with the stated objects of the issue.
The management declared via a board resolution dated May 13, 2026, a delay in utilization due to operational reasons, with a new completion date of May 31, 2026.
As of June 30, 2026, the balance in the Monitoring Account was ₹0.00 crore.