Ceigall India Limited has announced a significant development in its infrastructure portfolio, with its subsidiary receiving the Provisional Appointed Date for a major highway project in Punjab. The company informed stock exchanges on March 10, 2026, about this crucial milestone in compliance with SEBI regulations.

Project Details and Specifications

Ceigall Southern Ludhiana Bypass Private Limited, a subsidiary of Ceigall India Limited, received official communication from the National Highways Authority of India (NHAI) regarding the Provisional Appointed Date for the Southern Ludhiana Bypass project. The comprehensive project details are outlined below:

Strategic Importance and Scope

The project forms part of the larger Ludhiana-Ajmer Economic Corridor and will be executed under the National Highways (Operations) division in Punjab. The 6-lane Greenfield bypass will connect the intersection with NH-44 near Village Rajgarh to the intersection with Delhi Katra Expressway (NE 5) near Village Ballowal, providing crucial connectivity infrastructure for the region.

Regulatory Compliance and Communication

The announcement was made in continuation of the company's earlier communication dated October 23, 2025, and follows the requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary Megha Kainth signed the official communication to both BSE Limited and National Stock Exchange of India Limited on March 10, 2026.

Project Execution Framework

The Southern Ludhiana Bypass project will be implemented under the Hybrid Annuity Mode, a public-private partnership model that combines elements of both Engineering, Procurement, and Construction (EPC) and Build, Operate, Transfer (BOT) models. This execution framework provides a balanced risk-sharing mechanism between the government and private sector, ensuring efficient project delivery within the specified 24-month concession period.

Ceigall India Limited announced that its wholly owned subsidiary, Ceigall Infra Projects Private Limited, has secured a significant highway construction contract from the National Highways Authority of India (NHAI). The Letter of Award, dated February 11, 2026, represents a major infrastructure project worth ₹2,160 crore in Bihar state.

Project Overview

The awarded project involves the construction of 4-laning of the Sahebganj Areraj Bettiah section of NH 139W, spanning a total length of 78.942 km in Bihar. The project will be executed under the Hybrid Annuity Mode (HAM), a public-private partnership model commonly used for highway development in India.

Project Sections

The highway project is strategically divided into two distinct sections to facilitate efficient execution and management:

• Section-1: Sahebganj to Areraj covering 38.362 km
• Section-2: Areraj to Bettiah spanning 40.580 km

This segmentation allows for parallel construction activities and better resource allocation across the project timeline.

Special Purpose Vehicle Formation

Following the project award, Ceigall India has incorporated a dedicated subsidiary, "Ceigall Sahebganj Bettiah Highway Limited," on February 17, 2026. This Special Purpose Vehicle (SPV) has been specifically created to undertake the execution of the awarded highway project.

Management Commentary

Commenting on the development, Ramneek Sehgal, Chairman & Managing Director, Ceigall India Limited, said: "We are pleased to receive this Letter of Award from NHAI for the Sahebganj–Areraj–Bettiah corridor in Bihar. This project is closely aligned with the Government of India's PM Gati Shakti vision of integrated and multimodal infrastructure development."

Sehgal further emphasized the project's strategic importance, stating that strengthening national highway networks is critical to improving logistics efficiency, enhancing regional connectivity, and accelerating economic growth. The company remains committed to delivering the project with speed, quality, and sustainability.

Contract Details and Strategic Impact

The project operates under a domestic contract framework with NHAI, eliminating any international entity involvement. This strategically important highway corridor is expected to significantly improve regional connectivity in Bihar, enhance road safety, and facilitate faster movement of goods and passengers, thereby supporting economic development in the region.

The order adds to Ceigall India's robust order book and underlines the company's continued focus on national highway projects under annuity-based models, aligned with long-term visibility of revenues and sustainable growth. The company has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.