1. Ghamroj and Sirohi Bahali toll plazas - Two NHAI user-fee contracts for the Gurgaon-Sohna and NH-148B corridors were awarded on 24 Jun 2026 with a combined consideration of \~₹300 Cr. At the company's 56.85% revenue share and \~5% gross-profit-per-plaza metric, these two plazas alone add roughly ₹170 Cr in annual revenue and widen the high-margin toll book materially from day one of operations in August 2026.
2. ₹800 Cr+ toll order book for FY27 - Management reports an ₹800 Cr+ toll order book for FY27, up from 23 active plazas at FY26, with the medium-term target set at 45+ NHAI plazas. Every ₹10 Cr of toll working capital deployed is expected to unlock \~₹120 Cr in annual toll revenue, and the IPO has earmarked ₹1,190 Mn of unutilised working-capital proceeds to fund exactly that expansion.
3. IPO working-capital deployment still ahead - Of the ₹2,098 Mn net IPO proceeds, ₹1,190 Mn allocated to working capital remained unutilised as of 13 May 2026. Deploying that capital into toll-plaza bidding directly feeds the disclosed ₹120 Cr revenue-per-₹10 Cr formula, implying a large revenue step-up is still to come from the funded war chest.
4. Drone revenue commencement by FY27-28 - Aerodrone Robotics, a DGCA-approved RPTO with 4+ SKUs and 8+ UAV variants, expects first drone revenue by FY27-28 with PLI incentives locked in and target EBITDA margins of 20-30%. A new vertical with guided margins roughly four times the company's current 5.6% OPM begins contributing within two years.
5. NHAI tender pipeline of 700+ plazas - Innovision holds less than 2% of an addressable set of 700+ NHAI plazas expected to be tendered by FY27. The company's medium-term target of 45+ plazas implies doubling the current count while still capturing only a single-digit share of the pipeline, leaving a long runway even after near-term wins.
6. Integrated Facility Management scale-up - The IFM sub-vertical already operates under multi-year deals with contract values of ₹40-200 Cr and 1,200+ personnel deployed. Moving the mix toward these higher-value, sticky contracts raises the quality of the manpower segment's revenue base, which already accounts for the largest share of the group's \~₹981 Cr topline.
7. PM Vishwakarma skill-development outlay - The PM Vishwakarma scheme carries a USD 1.56 Bn outlay for FY24-FY28, and Innovision operates 35+ centres under it with a grant-per-certified-candidate model of ₹3,000-15,000. As government disbursals scale, the 100%-funded revenue model adds high-margin fee income with negligible working-capital strain.