Highway Infrastructure Ltd Q3 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 3 Aug 2026 | Transport Infrastructure | Market Cap: ₹326 Cr
Revenue target for FY27 is around INR 1,000 crores, with EPC contributing about INR 700 crores and toll & real estate about INR 300 crores. FY27 revenue target: INR 1,000 crores, with EPC contributing INR 700 crores and toll & real estate INR 300 crores.
From Highway Infrastructure Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹45.8
Market Cap
₹326 Cr
P/E Ratio
10.2
How does Highway Infrastructure Ltd rank in Transport Infrastructure?
Compare Highway Infrastructure Ltd against every Transport Infrastructure company this quarter on revenue, margins and earnings-call signals.
Highway Infrastructure Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹271 Cr, net profit ₹9 Cr.
Full financials →📊 Revenue & Sales Performance
- →Revenue target for FY27 is around INR 1,000 crores, with EPC contributing about INR 700 crores and toll & real estate about INR 300 crores.
- →Order book expected to grow by approximately 50% in the coming financial year.
- →Approximately INR 750-800 crores of current orders are executable in FY26 and FY27.
- →Tollway collection industry is expected to double in the next two years from INR 55,000 crores to INR 1.4 lakh crores.
- →The company targets a 20%-30% revenue contribution from new regions by FY27.
- →Margin improvement anticipated, with EBITDA margins currently around 6-7%, expected to increase by 2%-3% as higher-value contracts with lesser competition are acquired.
- →Expansion plans include venturing further into renewable energy EPC and commercial leasing to build recurring revenue streams.
- →Growth focus on public-funded tolls and EPC projects fueled by government infrastructure spending and new highway constructions.
📈 Profitability & Margins
- →FY27 revenue target: INR 1,000 crores, with EPC contributing INR 700 crores and toll & real estate INR 300 crores.
- →EBITDA margins expected to improve by 2%-3% due to higher value contracts and less competition.
- →Q3 FY26 standalone PAT rose 38% YoY; 9M FY26 PAT surged 192% YoY, indicating strong earnings growth momentum.
- →Consolidated 9M FY26 PAT increased by 121.5% YoY to INR 23.1 crores.
- →Order book expected to grow by 50% aiming for profitable, margin-accretive projects, which will support sustained revenue and profit growth.
- →Government support and infrastructure expansion suggest toll collection revenues could double in coming years, aiding profit growth.
- →Diversification into renewable EPC, EV charging, and commercial leasing expected to improve earnings quality and create recurring income streams.
- →Management focused on sustained growth, margin improvement, and operational efficiency for strong future EPS growth.
🏗️ Capital Expenditure Plans
- →The company is focusing on expanding its EPC order book with an expected growth of about 50% in the coming financial year, targeting quality projects that benefit EBITDA and margins.
- →There are ongoing strategic moves to diversify into renewable energy EPC and renewable energy power supply logistics, with openness to partnerships and joint ventures for expertise.
- →Expansion plans include venturing into new regions such as Gujarat, Rajasthan, North-East, and South India to balance portfolio and counter seasonal risks.
- →Commercial real estate development is targeted to create recurring annuity-style income through hospitality and commercial leasing, leveraging owned land assets with strategic development for rental revenue growth.
- →Growth in toll operations includes acquiring new toll plazas like Kaza with expectations of daily toll collections around INR 1 crore, aligning with increased government focus and funding in infrastructure.
- →The company expects strong capex mainly aligned with these operational expansions and infrastructure development, supported by government allocations in road construction and tollway projects.
💰 Fundraising & Capital Structure
- →The transcript does not explicitly mention any current or planned fundraising through debt or equity.
- →However, it is noted that the company has received funds from its IPO in the past, which supports its growth and expansion.
- →The management emphasizes focusing on profitable project selection and sustainable growth rather than just expanding the order book.
- →No direct reference to new equity or debt raising initiatives for upcoming projects or expansion was made during the call.
- →The company is open to partnerships and joint ventures, especially in the renewable energy EPC segment, indicating possible strategic collaborations rather than immediate fundraising.
- →Overall, no clear indication of imminent fundraising through debt or equity was discussed in this call.
📋 Order Book & Pipeline
- →The consolidated order book stands at INR 1,160 crores, showing a 181% growth since September 2025.
- →Breakdown: Approximately INR 623.6 crores in EPC and around INR 536.5 crores in tollway collection.
- →Recently secured about INR 507 crores in new mandates across both EPC and tollway verticals.
- →Toll business work orders valued at INR 550 crores are to be completed by next year.
- →EPC work orders total INR 630 crores, with INR 250 crores expected to be completed in FY27.
- →Approximately INR 750-800 crores of orders are executable in the near term.
- →Targeting a 50% increase in the order book in the coming financial year, focusing on profitable projects.
Key Metrics
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Frequently Asked Questions
What were Highway Infrastructure Ltd Q3 FY26 results?
Revenue target for FY27 is around INR 1,000 crores, with EPC contributing about INR 700 crores and toll & real estate about INR 300 crores. FY27 revenue target: INR 1,000 crores, with EPC contributing INR 700 crores and toll & real estate INR 300 crores.
What is Highway Infrastructure Ltd share price analysis?
Highway Infrastructure Ltd currently shows a neutral. The stock trades at a P/E of 10.2 with a market cap of ₹326 Cr. Investors should review the full earnings analysis for detailed insights.
Is Highway Infrastructure Ltd planning capital expenditure?
The company is focusing on expanding its EPC order book with an expected growth of about 50% in the coming financial year, targeting quality projects that benefit EBITDA and margins.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.