The contract pertains to the development of a residential colony project, “Beverly Greens,” located at Village Tillore Khurd, Tehsil Bicholi Hapsi (Indore-452001). The scope of work includes construction and infrastructure development for multiple plots within the project.
The order has been awarded by a domestic entity and will be executed over a period of two years, the company said in a disclosure.
Highway Infrastructure clarified that the transaction falls under related party dealings, as the promoter/promoter group has an interest in the awarding entity. However, the company added that the contract has been executed on an arm’s length basis and in the ordinary course of business.
The final contract value may vary depending on site conditions, it noted.
Highway Infrastructure is an infrastructure development and management company. The company is engaged in the business of tollway collection, EPC Infra, and real estate businesses.
The company reported a 96% year-on-year surge in consolidated net profit to Rs 6.41 crore for Q3 FY26, even as revenue from operations declined 9.2% to Rs 126.86 crore compared with Q3 FY25.