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 has reported substantial progress on its major highway infrastructure project in Haryana, with its subsidiary achieving a significant milestone under the Hybrid Annuity Mode (HAM) framework.

Project Progress Milestone

The company's subsidiary, Ceigall Jalbehra Shahbad Greenfield Highway Private Limited (SPV), has achieved 90.03% physical progress on the Construction of 4 Lane Greenfield Jalbehra Shahbad Section of NH 152G project. The Independent Engineer (IE) has recommended this progress milestone to the National Highway Authority of India (NHAI) through a letter dated 18.02.2026, determining the Physical Progress as 90.03% towards Payment milestone – 10 for the SPV.

Project Specifications

The infrastructure project involves comprehensive highway development under the Bharatmala Pariyojana Phase I initiative:

Financial Structure and Timeline

The project operates under a well-structured financial framework with multiple funding sources and defined operational parameters:

Project Development Timeline

The highway project has maintained its scheduled progress without delays:

• Concession Agreement Date: December 20, 2022
• Appointed Date: June 2, 2023
• Award Date: June 2, 2023
• Current Physical Progress: 90.03%

The project forms part of the Shahbad - Thol Feeder Route and represents a significant infrastructure development under the government's Bharatmala Pariyojana Phase I program. The achievement of 90.03% physical progress indicates the project is nearing completion, with the SPV structure enabling efficient project execution and milestone-based progress tracking.

This development was disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, reflecting the company's commitment to transparent reporting of material project developments.