Ceigall India wins Rs 207-cr HAM urban street projects from Punjab Infrastructure Development Board

Ceigall India said it has secured two contracts from the Punjab Infrastructure Development Board for the construction and development of world-class urban streets in Ludhiana under the Hybrid Annuity Model (HAM).

The projects have been awarded under Package 1 and Package 3, with a combined bid value of Rs 207 crore (Rs 108 crore and Rs 99 crore, respectively). Both contracts are domestic in nature.

The scope of work includes construction and development of urban street infrastructure in Ludhiana. Each project comes with an execution timeline comprising an 8-month construction period followed by a 6-year maintenance phase.

The contracts have been awarded under the Hybrid Annuity Model (HAM), a public-private partnership structure commonly used in infrastructure development.

 

The company clarified that neither the promoter nor promoter group entities have any interest in the awarding authority, and the contracts do not fall under related party transactions.

Ceigall India is an infrastructure engineering, procurement, and construction (EPC) company engaged in the development of highways, expressways, bridges, flyovers, railway overbridges, tunnels, and runways. The company executes projects under EPC as well as Hybrid Annuity Model (HAM) formats and has a strong track record of timely execution across multiple states in India.

On a consolidated basis, net profit of Ceigall India rose 1.24% to Rs 74.11 crore while net sales rose 19.34% to Rs 991.14 crore in Q3 December 2025 over Q3 December 2024.

Shares of Ceigall India rose 0.46% to Rs 281 on the BSE.

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