Hazoor Multi Projects Secures ₹44.23 Crore NHAI Toll Collection Contract; Shares Rise 0.54%

Hazoor Multi Projects Limited has received a Letter of Award (LoA) from the National Highways Authority of India (NHAI) for toll collection at the Balenahalli fee plaza in Karnataka, the company said in a regulatory filing on Tuesday.

The contract, awarded under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is valued at ₹44,23,80,000 (₹44.23 crore).

Project Details And Scope

The LoA has been issued by the National Highways Authority of India (NHAI), a domestic entity.

Under the contract, Hazoor Multi Projects will act as the user fee collection agency at Balenahalli fee plaza at Design Km 397.400 for the four-lane section of the Challakere to Hiriyur stretch of NH-150A in Karnataka. The scope also includes upkeep and maintenance of adjacent toilet blocks, including recouping consumable items.

The project has been awarded through a competitive bidding process via e-tender and is to be executed over a period of one year.

The company clarified that the order does not fall under related party transactions and that promoter or promoter group entities do not have any interest in the awarding authority.

Market Snapshot

At the close of trade on February 17, shares of Hazoor Multi Projects closed at ₹35.46 on the BSE, up ₹0.19 or 0.54% compared with the previous close of ₹35.27.

The stock opened at ₹34.61 and touched an intraday high of ₹35.80 and a low of ₹34.61 during the session.

The company’s market capitalisation stood at approximately ₹959.66 crore. The stock has a 52-week high of ₹50.95 and a 52-week low of ₹26.80. Its price-to-earnings (P/E) ratio is 46.75, according to exchange data.

Source: 

• https://www.bseindia.com/xml-data/corpfiling/AttachLive/862547a1-450d-406f-a298-373344080f52.pdf
• https://www.bseindia.com/stock-share-price/hazoor-multi-projects-ltd/hazoor/532467/corp-announcements/