Highway Infrastructure Limited wins ₹198.31 crore CPWD contract

Highway Infrastructure Limited has won a ₹198.31 crore Central Public Works Department contract to build Phase-I facilities for the Central Industrial Security Force 12th Reserve Battalion in Sehore, Madhya Pradesh, with a stipulated two-year execution period. HIL said the award lifted its total order book to ₹1,776.19 crore as of October 31, 2026.

What CPWD contract has HIL won?

HIL has received a Letter of Acceptance from the Central Public Works Department, or CPWD, to plan, design and construct Phase-I residential and non-residential infrastructure for the Central Industrial Security Force, or CISF, 12th Reserve Battalion. The project is at Village Jamunia Talab in Sehore district, Madhya Pradesh, and was disclosed on November 4, 2026.

The ₹198.31 crore assignment will be delivered on Engineering, Procurement and Construction Mode-I, or EPC Mode-I. HIL’s disclosed scope combines planning, designing and construction, covering the residential and non-residential infrastructure required to establish the battalion.

HIL described the award as its biggest-ever civil construction contract. Its release also said the project ranks among its largest civil construction orders since the company was incorporated in 2006, although the filing does not give values, scopes or dates for earlier civil construction awards.

CPWD is the awarding authority, while the end use is government infrastructure for a CISF reserve battalion. The November 4 filing does not disclose payment milestones, mobilisation dates, performance guarantees, a land area, building count or a detailed construction schedule for the ₹198.31 crore project.

How does the CPWD award change HIL’s order book?

HIL said its total order book stood at ₹1,776.19 crore as of October 31, 2026 after the addition of the ₹198.31 crore CPWD contract. The announcement presents the contract as an addition to the company’s project pipeline but does not disclose the order-book figure before the award.

The disclosed comparison is between one civil EPC contract and HIL’s aggregate order book after its addition. HIL did not provide a split of the ₹1,776.19 crore order book among tollway collection, EPC and real estate, so the filing does not quantify the civil construction or EPC portion of the total.

The order book is a project-pipeline measure rather than reported revenue or profit for a financial period. The announcement does not set out annual revenue recognition, expected margin, billing schedule or completion-value milestones for the two-year CISF project.

What must HIL execute during the two-year project?

HIL has a stipulated two-year execution period for planning, designing and constructing the Phase-I facilities for the CISF 12th Reserve Battalion. The full ₹198.31 crore scope covers both residential and non-residential infrastructure under EPC Mode-I.

The residential and non-residential components are part of the same government assignment, rather than separately valued construction packages in the filing. HIL does not disclose how the contract value is allocated between the two facility categories or identify individual structures within Phase I.

Anoop Agrawal, HIL’s Whole Time Director and Chief Financial Officer, said the CPWD order broadens the company’s experience in critical government infrastructure assignments. He said management aims to strengthen execution capabilities and expand participation in larger infrastructure projects, but did not disclose a numerical target for contracts, capital expenditure or government orders.

HIL also said it intends to maintain quality standards and deliver projects within stipulated timelines. For this specific order, the only disclosed delivery benchmark is the two-year period; no interim construction stage, completion date or subcontracting arrangement was included in the November 4 announcement.

Where does the CISF project fit in HIL’s business?

HIL identifies tollway collection, EPC and real estate as its three business verticals, and the ₹198.31 crore CPWD award fits its EPC activity. Unlike tollway collection, which is an operating business named by HIL, this contract requires the planning, design and construction of physical government infrastructure.

The project also differs from the real-estate vertical in the disclosed customer and purpose: CPWD awarded the contract for facilities needed to establish a CISF reserve battalion. The filing does not state whether the Sehore project is HIL’s first CPWD assignment or provide a segment revenue target following the award.

HIL said it operates across 11 states and one Union Territory. The company’s registered office is in Indore, Madhya Pradesh, while the new project is in Sehore district, but the filing does not specify which operating locations or business verticals account for the ₹1,776.19 crore order book.

Management said the contract supports a plan to participate in larger infrastructure projects and expand the company’s project portfolio. That plan is management’s stated direction, not a forecast of revenue or profitability, because the release gives no target timeline beyond the project’s stipulated two-year execution period.

Conclusion

The ₹198.31 crore CPWD contract gives HIL its stated biggest-ever civil construction order and adds a two-year EPC assignment for CISF Phase-I facilities in Sehore. The award combines residential and non-residential government infrastructure work and is included in HIL’s ₹1,776.19 crore order book reported as of October 31, 2026.

What to watch next is execution against the stipulated two-year timeline and any future disclosure on milestones, billing or order-book composition. Management has said it plans to strengthen execution capabilities and pursue larger infrastructure projects, while the November 4, 2026 filing leaves the project’s detailed delivery schedule and financial recognition undisclosed.