Ceigall India jumps after emerging as L1 bidder for Rs 1,089-cr project

Ceigall India climbed 3.84% to Rs 244.55 after the company announced that it has been emerged as lowest bidder (L1) from Madhya Pradesh Road Development Corporation for highway construction project in Madhya Pradesh (MP).

The scope of work includes construction of Indore-Ujjain greenfield (access control) four-lane highway with paved shoulder over a 48.10 km stretch, starting from Km. 0.000 near Pitra Parvat to Km. 48.100 (Simhastha bypass km 2.600) under the Hybrid Annuity Mode (HAM).

The said contract is valued at Rs 1,089 crore and is expected to be completed within 24 months from the date of appointment.

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

On a consolidated basis, net profit of Ceigall India declined 13.86% to Rs 57.99 crore while net sales rose 4.45% to Rs 806.57 crore in Q2 September 2025 over Q2 September 2024.

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