Hazoor Multi Projects Secures ₹77.60 Crore NHAI Toll Collection Contracts In Karnataka

Market snapshot: Hazoor Multi Projects Limited has secured contracts valued at ₹77.60 crore from the National Highways Authority of India (NHAI) for user fee collection in Karnataka. The mandate encompasses fee collection and maintenance across specified toll plazas, strengthening the company's infrastructure service footprint.

Data Snapshot

• Hazoor Multi Projects secured NHAI user fee collection contracts in Karnataka valued at ₹77.60 crore.
• The awarded fee plazas include Kannoli Fee Plaza, Harval Fee Plaza, and Gaddurur Fee Plaza along national highway stretches in Karnataka.

What's Changed

• Secured a new ₹77.60 crore toll collection mandate in Karnataka compared to a ₹28.47 crore NHAI contract win in Jharkhand in August 2026.

Key Takeaways

• NHAI has awarded user fee collection mandates for Kannoli, Harval, and Gaddurur toll plazas in Karnataka.
• The contract portfolio value stands at ₹77.60 crore, reinforcing near-term cash-flow visibility.
• Scope covers user fee collection alongside operational upkeep and maintenance of adjacent facility blocks.

SAHI Perspective

The contract award from NHAI expands Hazoor Multi Projects' toll management assets in South India. Securing recurring user fee collection mandates provides stable operational cash flows while maintaining low balance sheet leverage compared to capital-intensive EPC construction projects.

Market Implications

The order win enhances revenue visibility in the highway operations division. Continued accumulation of short- to medium-term fee collection mandates allows the company to build operational scale in toll plaza management across multiple state corridors.

Trading Signals

Market Bias: Bullish

Positive contract award of ₹77.60 crore from state-owned NHAI strengthens revenue backlog and demonstrates operational competitiveness in highway user fee collection tenders.

Overweight: Road Infrastructure, Toll Operations

Trigger Factors:

• Formal execution and commencement of fee collection at Karnataka plazas
• Quarterly revenue contribution from user fee contracts

Time Horizon: Near-term (0-3 months)

Industry Context

NHAI regularly tenders user fee collection mandates on national highway stretches to professional contractors. Fee collection contracts offer predictable daily cash generation but require efficient toll plaza management, automated lane monitoring, and adherence to maintenance standards.

Key Risks to Watch

• Traffic volume sensitivity along the designated highway corridors
• Operational risks associated with fee plaza throughput and toll collection compliance

Recent Developments

Hazoor Multi Projects previously secured a ₹28.47 crore NHAI user fee collection contract at Madangundi Fee Plaza in Jharkhand in August 2026 and another NHAI toll collection order for Thirupapachethi fee plaza in Tamil Nadu.

Closing Insight

Continued execution in securing short-term NHAI toll collection mandates provides Hazoor Multi Projects with a steady stream of operational revenue while avoiding heavy capital lock-in.

High Performance Trading with SAHI.