How to calculate turn over if one trades in nifty futures? Is it calculated on lot size?

General
2

Turnover for Futures trading = Lot Size * Price traded

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For eg. NIFTY Index Future,

(Buy Side)

         = Rate (7920) x Lot Size (75)

         = 7920 x 75

         = 5,94,000

(Sell Side)

         = Rate (7940) x Lot Size (75)

         = 7940 x 75

         = 5,95,500

Turnover = 5,94,000 + 5,95,500

          = 11,89,500 (Rs.)
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thank you venu