Hazoor Multi Projects Wins ₹77.60 Crore User Fee Contract From NHAI In Karnataka

Market snapshot: Hazoor Multi Projects Limited has secured a work order valued at ₹77.60 crore from the National Highways Authority of India (NHAI). The project entails user fee collection at Kannoli Fee Plaza, Harval Fee Plaza, and Gaddurur Fee Plaza in the state of Karnataka.

Data Snapshot

• Contract value of ₹77.60 crore awarded by National Highways Authority of India for user fee collection in Karnataka
• Q1 FY27 standalone revenue of ₹10,367.04 crore with standalone profit after tax of ₹460.03 crore

What's Changed

• Q1 FY27 standalone revenue grew 4.6% YoY to ₹10,367.04 crore compared to ₹9,916.22 crore in Q1 FY26.

Key Takeaways

• Hazoor Multi Projects received a ₹77.60 crore contract from NHAI for user fee collection in Karnataka.
• The order covers collection rights at Kannoli, Harval, and Gaddurur Fee Plazas.
• The win builds upon recent NHAI order awards secured by the company across multiple states.

SAHI Perspective

The ₹77.60 crore NHAI award demonstrates Hazoor Multi Projects' operational momentum in bidding for short-to-medium term national highway user fee contracts. Continued project additions strengthen revenue visibility in the company's road operations unit.

Market Implications

Repeated tender wins from NHAI validate the company's execution capability in highway toll management, supporting steady operational cash flows across Southern India.

Trading Signals

Market Bias: Bullish

Positive outlook driven by securing the ₹77.60 crore NHAI user fee contract in Karnataka, adding to earlier wins in Jharkhand and Tamil Nadu.

Overweight: Infrastructure, Road Construction & Operations

Trigger Factors:

• Operational commencement at Kannoli, Harval, and Gaddurur Fee Plazas
• Q2 FY27 earnings announcement
• Subsequent NHAI tender bidding outcomes

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

Industry Context

NHAI regularly awards toll collection rights and plaza maintenance to private operators through competitive e-tendering to ensure systematic user fee collection across national road corridors.

Key Risks to Watch

• Fluctuations in traffic volume at assigned fee plazas affecting daily toll realizations.
• Regulatory updates by NHAI regarding user fee collection terms.

Recent Developments

In September 2026, Hazoor Multi Projects won an NHAI user fee collection award at H. Pudhupatti Fee Plaza in Tamil Nadu. In August 2026, the company secured a ₹28.47 crore NHAI project for Madangundi Fee Plaza in Jharkhand.

Closing Insight

Hazoor Multi Projects' consistent win rate in NHAI toll collection tenders highlights its strategic focus on expanding highway maintenance and fee collection revenue.

High Performance Trading with SAHI.