Highway Infrastructure Q1 FY27: Revenue Surge, Margin Reset, and the Toll Collection Cycle

On a consolidated basis, total income was INR 304.3 crore, EBITDA was INR 4.8 crore, and PAT was INR 1.1 crore for Q1 FY27.

Management stated profitability was impacted by lower traffic volumes at Moti Naroli and certain other toll projects due to geopolitical developments and global trade disruptions, leading to under-recovery of fixed project costs.

Q1 FY27 segment revenue was INR 273.9 crore from tollway collection, INR 27.9 crore from EPC infra, and INR 1.5 crore from real estate.

The investor presentation reported FY26 revenue mix as tollway collection 73.7%, EPC infra 19.8%, and real estate and others 6.5%.

The investor presentation reported a consolidated order book of about INR 778 crore as of June 30, 2026, and INR 1,133 crore as of March 2026.

Management indicated a targeted turnover of about INR 850 crore for FY26-27 and about INR 1,200 crore for FY27-28, with FY27 targeting about INR 700 crore from toll and the balance from EPC.