Highway Infrastructure Toll Revenue Reaches Rs 177.704 Crore

Highway Infrastructure Limited generated Rs 177.704 crore of toll revenue in the quarter ended 30 September 2026, making toll collection its largest reported segment, but the segment result was only Rs 43.30 lakh. Toll revenue rose from Rs 65.095 crore a year earlier but declined from Rs 273.945 crore in the preceding quarter.

How much toll revenue did Highway Infrastructure generate?

Highway Infrastructure generated Rs 177.704 crore of Toll Division revenue in the quarter ended 30 September 2026, equal to about 82% of total segment revenue of Rs 217.381 crore. The segment disclosure identifies tollway collection, engineering, procurement and construction, or EPC, infrastructure, and real estate as its three reportable businesses.

Toll revenue decreased by Rs 96.241 crore from Rs 273.945 crore in the quarter ended 30 June 2026. It increased by Rs 112.609 crore from Rs 65.095 crore in the quarter ended 30 September 2025, showing that the year-on-year revenue increase occurred alongside a sequential decline in toll collections.

The September-quarter revenue mix differed across the other two businesses. Work contract and machinery-hire revenue rose by Rs 9.721 crore from the June quarter and by Rs 12.597 crore from the year-earlier quarter, while real estate revenue rose by Rs 61.80 lakh sequentially but remained Rs 2.396 crore below the September 2025 level.

Why was Highway Infrastructure's toll segment profit Rs 43.30 lakh?

Highway Infrastructure reported a Toll Division segment result of Rs 43.30 lakh for the September 2026 quarter, down Rs 11.57 lakh from Rs 54.87 lakh in the June 2026 quarter. The segment statement does not provide a separate toll operating-cost, depreciation, finance-cost or other cost breakdown that identifies the reason for the sequential movement.

The September 2026 toll result was nonetheless Rs 2.779 crore higher than the Rs 2.346 crore segment loss reported in the September 2025 quarter. The division therefore moved from a loss to a profit year on year, even though its quarterly profit fell while revenue declined by Rs 96.241 crore from the immediately preceding quarter.

On a calculated basis, the Rs 43.30 lakh toll segment result represented about 0.2% of Rs 177.704 crore of quarterly toll revenue. This comparison describes the reported segment numbers only: the filing does not state whether any specific toll route, contract, tariff, traffic volume or cost item drove the result.

The toll business also produced slightly less segment profit than the work contract and machinery-hire business despite contributing Rs 140.125 crore more revenue. Work contract and machinery hire reported Rs 44.53 lakh of September-quarter segment profit on Rs 37.579 crore of revenue, compared with toll's Rs 43.30 lakh on Rs 177.704 crore.

Which Highway Infrastructure segment earned the most profit?

Highway Infrastructure's Work Contract Division and Machineries & Equipments Hire Division earned the highest reported September-quarter segment profit, at Rs 44.53 lakh. This was Rs 1.23 lakh above the Toll Division's Rs 43.30 lakh result, while the Real Estate Division recorded a Rs 92,000 loss.

Work contract and machinery-hire segment profit increased by Rs 1.83 lakh from Rs 42.70 lakh in the June 2026 quarter. However, it was Rs 19.92 lakh below the Rs 64.45 lakh reported in the September 2025 quarter, despite revenue increasing from Rs 24.982 crore to Rs 37.579 crore over that year.

The Real Estate Division moved from a Rs 4.26 lakh profit in the June 2026 quarter to a Rs 92,000 loss in the September quarter, as revenue increased from Rs 1.479 crore to Rs 2.097 crore. Compared with September 2025, the result improved from a Rs 3.205 crore loss, when the division reported Rs 4.493 crore of revenue.

The three segment results together were Rs 4.794 crore in the September 2026 quarter, compared with Rs 10.183 crore in the June quarter and Rs 89.40 lakh a year earlier. The sequential decrease of Rs 5.389 crore reflected the fall in toll profit, the real estate reversal to a loss, and the reduction in the segment subtotal despite a modest improvement in work contract and machinery-hire profit.

How did Highway Infrastructure's segment results affect pre-tax profit?

Highway Infrastructure reported profit before tax of Rs 11.090 crore for the September 2026 quarter after recording Rs 6.296 crore of other unallocable income or expenditure, net. The reported pre-tax profit exceeded Rs 1.541 crore in the June 2026 quarter but was below Rs 12.658 crore in the September 2025 quarter.

The unallocable line changed materially between the two recent quarters. It was positive at Rs 6.296 crore in September 2026, compared with a negative Rs 8.642 crore in June 2026, while the segment subtotal fell to Rs 4.794 crore from Rs 10.183 crore. The statement labels this line as other unallocable income or expenditure, net, and does not identify its individual components.

In the September 2025 quarter, Highway Infrastructure reported Rs 89.40 lakh of aggregate segment profit and Rs 11.764 crore of net other unallocable income or expenditure, producing profit before tax of Rs 12.658 crore. This means the year-earlier pre-tax result was supported by a larger positive unallocable amount than the Rs 6.296 crore recorded in September 2026.

What does Highway Infrastructure's half-year segment performance show?

Highway Infrastructure reported Rs 451.649 crore of Toll Division revenue for the half year ended 30 September 2026, compared with Rs 156.442 crore in the corresponding prior-year half. Total segment revenue rose to Rs 520.665 crore from Rs 206.521 crore, with toll collection accounting for Rs 295.207 crore of that increase.

Toll segment profit for the six months was Rs 59.20 lakh, down from Rs 76.76 lakh a year earlier. In contrast, work contract and machinery-hire profit increased to Rs 87.23 lakh from Rs 78.67 lakh, while real estate profit rose to Rs 3.34 lakh from Rs 2.68 lakh.

The half-year segment subtotal was Rs 14.977 crore, compared with Rs 15.811 crore in the prior-year half. A negative Rs 2.346 crore net unallocable amount reduced September 2026 half-year profit before tax to Rs 12.631 crore, whereas a positive Rs 6.550 crore unallocable amount helped produce Rs 22.361 crore of pre-tax profit a year earlier.

Conclusion

Highway Infrastructure's segment disclosure shows a revenue-led toll business whose Rs 177.704 crore quarterly revenue contribution did not translate into the highest segment profit. Work contract and machinery hire generated Rs 44.53 lakh of segment profit, narrowly exceeding toll's Rs 43.30 lakh, while real estate moved into a Rs 92,000 loss for the quarter.

The next disclosure to watch is whether Highway Infrastructure provides a more detailed explanation of Toll Division costs and the Rs 6.296 crore net unallocable income or expenditure. The 14 November 2026 filing reports the segment outcomes for the quarter and half year but does not disclose a toll profitability target, route-level cost bridge or operating plan.