Ceigall India edges higher after bagging constrution contracts worth Rs 1,042 crore

Ceigall India gained 1.46% to Rs 391.70 after the company announced that it has secured orders for development of Kanpur Central Bus Terminal and Bhuvaneshwar Metro Project Phase-I aggregating to Rs 1,042 crore.

The company has been awarded an Rs 899 crore contract for the Bhubaneswar Metro Project, encompassing the design and construction of an elevated viaduct, six elevated stations, and a depot entry ramp.

Additionally, Ceigall India secured a contract for developing the Kanpur Central Bus Terminal from the Uttar Pradesh State Road Transport (Building Division), which is valued at Rs 143 crore.

Ramneek Sehgal, MD of Ceigall India, expressed enthusiasm about the order wins, highlighting the company's commitment to delivering large-scale projects and leveraging its expertise to meet the highest standards.

Ceigall India is an infrastructure engineering, procurement and construction (EPC) company undertaking specialized structural works such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, expressways and runways. The principal business operations are broadly divided into EPC projects and hybrid annuity model (HAM) projects.

The firm reported a net profit of Rs 306.14 crore and sales of Rs 3,029.35 crore for the twelve months ended on 31 March 2024.

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