Innovision lands ₹25.69 cr NHAI toll contract
The micro-cap's latest NHAI win is worth 3.65% of its market cap, part of a ₹140 cr-plus mandate streak from the authority.
— 3 earlier stories on Innovision Ltd. →What's new
- Innovision won a ₹25.69 cr NHAI contract for the Belon Fee Plaza on NH-93 in UP.
- The award, dated June 5, is for one year and secured via competitive bidding.
- The company has now accumulated over ₹140 cr in recent NHAI mandates.
Why this matters
For a company with a market cap of ₹704 cr, a single-year contract worth ₹25.69 cr is material—it's 3.65% of the entire equity value. This deal adds to a visible stream of near-term revenue from a government counterparty, but the one-year duration means Innovision must keep winning to sustain the pace.
What we're watching
- Whether NHAI awards scale into multi-year contracts for Innovision.
- The company's ability to convert its ₹140 cr backlog into actual revenue.
- If the next mandates match the recent ₹25+ cr ticket size.
The full read
Innovision, a ₹704 cr micro-cap, has added another ₹25.69 cr to its order book from the National Highways Authority of India. The one-year contract for toll collection and maintenance at Belon Fee Plaza on NH-93 came through competitive bidding. At 3.65% of market cap, the award crosses the materiality line for a company this size. More telling is the context: this is part of a cumulative ₹140 cr-plus stream of recent NHAI work, building a visible near-term revenue pipeline. The risk is duration. One-year mandates require constant renewal to maintain growth, making the backlog figure less a guarantee than a to-do list. For now, the wins keep coming.
Questions answered
- How significant is this ₹25.69 cr order for Innovision?
- It represents 3.65% of the company's ₹704 cr market capitalization, well above the 1.5% materiality threshold for micro-cap entities. The contract is for one year.
- What is the scope of the new NHAI contract?
- Innovision will collect user fees and maintain facilities at the Belon Fee Plaza on National Highway 93 in Uttar Pradesh. The work is for a one-year period.
- What does the ₹140 cr figure represent?
- It is the collective value of a string of recent NHAI mandates won by Innovision, including this latest award. The figure is not tied to a specific time frame.
- Is this a new client relationship for the company?
- No. The filing describes this as the latest in a series of NHAI contracts, indicating an ongoing relationship with the highway authority.
Story so far
All notes on INNOVISION →- 6 Jun 2026 · 1:14 PM IST Innovision lands ₹25.69 cr NHAI toll contract
- 2d ago Innovision lands ₹26.35 cr NHAI toll contract, its latest highway win
- 3d ago Innovision loses a whole-time director weeks after its listing
- 12d ago Innovision lands ₹25 cr NHAI toll contract. That's 3.4% of its market cap.