Ceigall India has announced that its wholly owned subsidiary, Ceigall Infra Projects Private Limited, has secured a significant infrastructure contract. The company received a Letter of Award worth ₹1089.00 crores from Madhya Pradesh Road Development Corporation Limited for the construction of a 48.10 km Indore-Ujjain highway project.

Project Details and Scope

The awarded project involves the construction of the Indore-Ujjain Greenfield highway, featuring a 4-lane configuration with paved shoulders. The comprehensive infrastructure development spans 48.10 kilometers, starting from Km. 0.000 near Pitra Parvat and terminating at Km. 48.100 at the Simhastha bypass (km 2.600). The project will be executed under the Hybrid Annuity Mode (HAM), a public-private partnership model commonly used for highway construction projects.

Contract Structure and Timeline

The Letter of Award was issued by the Madhya Pradesh Road Development Corporation Limited. The project operates under the Hybrid Annuity Mode, which typically involves a combination of government funding during construction and annuity payments during the operational phase. The subsidiary has been allocated 24 months from the date of appointment to complete the highway construction project.

Corporate Governance and Compliance

The company confirmed that no promoter, promoter group, or group companies have any interest in the awarding entity. Additionally, the contract does not fall within the scope of related party transactions, ensuring arm's length dealing principles. The project represents a purely commercial engagement between Ceigall Infra Projects Private Limited and the Madhya Pradesh Road Development Corporation Limited.

Strategic Significance

This substantial infrastructure contract reinforces Ceigall India's position in the highway construction sector through its subsidiary operations. The Indore-Ujjain corridor represents a significant transportation link in Madhya Pradesh, with the greenfield development expected to enhance connectivity between these major cities. The project's scale and value demonstrate the subsidiary's capability to handle large-scale infrastructure development under the HAM framework.

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring proper disclosure of material information to stakeholders and the investment community.

Ceigall India Limited shares moved higher on Friday after the company announced that its subsidiary, Ceigall Bathinda Dabwali Highways Private Limited, has received a provisional certificate from the National Highways Authority of India for a major highway project in Punjab.

Project Specifications and Commercial Operations

The infrastructure development project represents a significant milestone for the company's northern market expansion:

The project has been declared fit for entry into commercial operations with effect from December 22, 2025. The company confirmed that this project does not fall under related party transactions.

Stock Performance and Market Response

The market responded positively to the development, with shares showing strong performance:

Recent Contract Wins

This development follows another significant contract win announced earlier this week. The infrastructure construction company emerged as the lowest bidder for a new contract worth around ₹550.00 crores from Madhya Pradesh Urja Vikas Nigam Ltd. The project involves setting up 130 MW (AC) of grid-connected solar photovoltaic power plants under the Surya Mitra Krishi Feeders Scheme–PM KUSUM-C.

The combination of the Punjab highway project's commercial readiness and the recent solar power contract win demonstrates Ceigall India's diversified project portfolio and strong execution capabilities across infrastructure and renewable energy sectors.