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Ceigall India announced that it had emerged as lowest (L1) bidder for a project awarded by REC Power Development and Consultancy (RECPDC) for establishment of the 400/220 KV Velgaon substation near Palghar under the tariff-based competitive bidding (TBCB) route, with an assured annual tariff of Rs 58.5 crore.
The company has been selected as transmission service provider for the establishment of the 400/220 kV Velgaon substation (GIS) through tariff-based competitive bidding process.The project is scheduled to be completed within 24 months, with an operation and maintenance period of 35 years.
Ceigall India is an infrastructure engineering, procurement, and construction (EPC) company undertaking specialised 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.
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The company's consolidated net profit declined 31.99% to Rs 74.10 crore even as revenues rose by 7.21% to Rs 1,011.61 crore in Q4 FY25 as compared with Q4 FY24.
The scrip declined 2.24% to settle at Rs 268 on the BSE.
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