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.

Ceigall India Limited has achieved a major milestone in its highway development project with the receipt of a provisional certificate, marking the successful completion of its six-laning project on NH-54 in Punjab.

Provisional Certificate Received

Ceigall Bathinda Dabwali Highways Private Limited, a subsidiary of Ceigall India Limited, has received the provisional certificate for the Development of Six-Laning of Jodhpur Romana (Bathinda) - Mandi Dabwali (Punjab/Haryana Border) section of NH-54. The certificate was issued by the Independent Engineer and received by the company on December 26, 2025, declaring the project fit for entry into commercial operation with effect from December 22, 2025.

Project Specifications

The completed project encompasses comprehensive infrastructure development across Punjab:

Project Timeline and Achievement

The project has demonstrated exceptional execution efficiency. Previously, the company had achieved 75% physical progress as of May 31, 2024, which was 191 days ahead of the originally scheduled completion date of December 8, 2024. The receipt of the provisional certificate confirms the successful completion of this ambitious infrastructure project.

Financial Structure

The project's financial framework, as outlined in the company's Red Herring Prospectus, includes:

Regulatory Compliance

The announcement was made in accordance with the provisions of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additional details were provided pursuant to SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The project is classified as a domestic contract with no related party transactions involved.

Strategic Impact

This successful project completion reinforces Ceigall India's capabilities in executing large-scale infrastructure projects ahead of schedule. The company's ability to deliver complex highway projects efficiently positions it favorably for future opportunities in India's expanding infrastructure sector. Megha Kainth, Company Secretary of Ceigall India Limited, confirmed this development in official communications to the stock exchanges.