Innovision Secures 1-Year Toll Collection Contract for Turup Fee Plaza in Jharkhand

Innovision Secures 1-Year Toll Collection Contract for Turup Fee Plaza in Jharkhand​

Innovision Limited has been awarded a one-year contract by the National Highways Authority of India (NHAI) to serve as the user fee collection agency at the Turup fee plaza, located on the Ranchi Bypass in Jharkhand. This engagement falls under NHDP Phase-III (EPC Package-1).

The order was granted on July 17, 2026, following a competitive bidding process conducted via e-tender. The contract encompasses toll collection operations at the designated plaza, along with the upkeep and maintenance of adjacent toilet blocks, including handling consumable items for these facilities.

Contract Details and Value​

The total commercial consideration for this engagement is ₹ 44,60,29,635 (Rupees Forty-Four Crore Sixty Lakh Twenty-Nine Thousand Six Hundred and Thirty-Five only).

This contract reinforces Innovision’s existing presence within the toll collection ecosystem in Jharkhand. The company stated that its growth in the toll management vertical stems from the cumulative addition of plazas across states rather than reliance on any single individual contract, characterizing this award as representative of that established pattern.

Management Perspective​

Lt. Col. Randeep Hundal, Chairman and Managing Director of Innovision Limited, commented on the award. He stated that the Turup fee plaza contract adds to their toll management portfolio and reflects consistency in execution within NHAI’s user fee collection framework. This engagement extends the company's operational footprint into Jharkhand.

Hundal further elaborated that the company’s toll management model remains asset-light, with capital requirements primarily related to working capital. He added that India's toll collection sector benefits from the ongoing expansion of NHAI's tendering pipeline and the industry shift toward fully digital collection, viewing this as a structural tailwind.

The commercial consideration provided reflects the overall contract value, contextualizing that the company remits collections to NHAI while retaining an agreed spread. The management stressed that portfolio aggregation remains the more relevant measure of the vertical’s performance as their operational plaza base expands.

About Innovision Limited​

Innovision Limited is described as an integrated services company offering solutions across manpower outsourcing, toll management, and drone-based services. The company previously completed its Initial Public Offering (IPO), which aggregated approximately ₹3,192.5 million through a mix of fresh issue and offer for sale. With a diversified service portfolio, Innovision continues to strengthen its presence across infrastructure and capitalize on opportunities in technology-enabled service segments in India.

INNOVISION Stock Price Movement​

On Monday, Innovision Limited shares edged higher to close at ₹288.85, gaining 0.49% as investors reacted positively. The stock traded within a range of ₹287 to ₹292.25, with a total volume of 11,821 shares recorded during the session.