Highway Infrastructure Ltd Secures Rs 69 Crore Contract with IDA
Filing Summary
Highway Infrastructure Ltd has entered into a contract agreement with the Indore Development Authority (IDA) for the execution of Town Planning Scheme-08. The contract, valued at approximately Rs 69 Crore, involves the development of a road from Kumedi to Lasudiya Mori, Indore. The project is scheduled for completion within 30 months. The agreement includes a 5% performance security and a 7.87% additional performance security. The contract is not a related party transaction, and no interest from the promoter group is involved.
Highway Infrastructure Ltd has formalized a contract agreement with the Indore Development Authority (IDA) for the execution of Town Planning Scheme-08. The agreement was signed on February 20, 2026, and pertains to the development of a road from Kumedi to Lasudiya Mori, up to A.B. Road, Indore.
The contract is valued at Rs 69,68,72,955, excluding applicable GST. The project is expected to be completed within a period of 30 months. The agreement includes a requirement for a 5% performance security amounting to Rs 3,48,43,648, valid for the contract period plus three months. Additionally, a 7.87% additional performance security of Rs 6,67,76,941 is required, valid until the stipulated time of completion plus three months.
The contract has been awarded by a domestic entity, and it does not involve any related party transactions. There is no interest from the promoter or promoter group companies in the entity awarding the contract.
The Indore Development Authority is responsible for urban planning and development in the Indore region. It focuses on infrastructure projects that enhance the urban landscape and improve connectivity within the city.
Highway Infrastructure Ltd specializes in infrastructure development projects, focusing on road construction and urban development. The company prioritizes strategic projects that align with its expertise in enhancing transportation networks and urban planning initiatives.