Ceigall India Limited, in a 74:26 joint venture with SAM India Builtwell, has emerged as the L-1 bidder for a major Jaipur Metro Rail Corporation project. The contract, valued at Rs. 918.04 Crores, involves the design and construction of a 10.8 km elevated viaduct and ten stations for Jaipur Metro Phase-II. The project is scheduled for completion within 34 months, providing strong revenue visibility for the company's infrastructure segment. This win reinforces Ceigall's capability in executing complex urban transit projects.

Ceigall India Limited has secured a favorable arbitration award of ₹7.71 crore plus GST against the National Highways Authority of India (NHAI). The award pertains to a joint venture project for the rehabilitation of NH-354 in Punjab, which was completed in June 2020. Additionally, the tribunal has mandated a 10% future interest rate if the payment is delayed beyond three months from the order date. This settlement is expected to provide a positive boost to the company's cash flows and financial standing.

Ceigall India has approved the incorporation of a new subsidiary, Ceigall Indore Ujjain Greenfield Highway Limited, to execute a 48.10 km highway project in Madhya Pradesh under the Hybrid Annuity Mode (HAM). The company will maintain 100% control of the SPV through a 74% direct stake and a 26% stake via its wholly-owned subsidiary. Simultaneously, the management has authorized a non-binding offer for the 100% stake sale of its step-down subsidiary, Ceigall Malout Abohar Sadhuwali Highways, to an Asset Management Company. These developments reflect a dual strategy of expanding the order book while actively pursuing capital recycling through asset monetization.

Ceigall India has authorized the sale of its 100% stake in Ceigall Malout Abohar Sadhuwali Highways Private Limited to an Asset Management Company, representing a strategic asset monetization. Simultaneously, the company is incorporating a new SPV, Ceigall Indore Ujjain Greenfield Highway Limited, to execute a 48.10 km 4-lane project in Madhya Pradesh. This new project, awarded by MPRDC, will be executed under the Hybrid Annuity Mode (HAM) with Ceigall India holding a 74% direct stake. These moves indicate a healthy cycle of capital recycling and new project commencement.

Ceigall India Limited has completed the acquisition of 100% equity shares of Velgaon Power Transmission Limited (VPTL) from REC Power Development and Consultancy Limited. The acquisition, valued at approximately ₹1.89 crore, was a mandatory requirement following Ceigall's successful bid for the 'Establishment of 400/220 kV Velgaon Substation' project. VPTL will now operate as a wholly-owned subsidiary and serve as the Special Purpose Vehicle (SPV) for this power transmission project. This move signifies the transition from the bidding phase to the execution phase for this specific infrastructure project.

Ceigall India Limited has incorporated a wholly-owned subsidiary, Ceigall Green Energy MP Limited, on January 5, 2026. This new entity is a Special Purpose Vehicle (SPV) established to implement a 130 MW (AC) Solar PV power plant project. The project was awarded by Madhya Pradesh Urja Vikas Nigam Ltd. under the PM KUSUM-C scheme across two districts in Madhya Pradesh. The initial subscription for the 100% stake was completed for a cash consideration of Rs. 1,00,000.

Ceigall India is formalizing the execution of recently won projects by acquiring Velgaon Power Transmission Limited for Rs 5 lakh and incorporating two new subsidiaries. These entities will manage a 130 MW solar power project under the PM KUSUM-C scheme and a 48.10 km greenfield highway project in Madhya Pradesh. The highway project will be executed on a Hybrid Annuity Mode (HAM), while the solar project marks a significant push into renewables. This move transitions recently awarded letters of intent into the active execution phase, providing long-term revenue visibility.

Ceigall India has signed a Share Purchase Agreement to acquire 100% of Velgaon Power Transmission Limited from REC for ₹5 lakh to execute a 400/220 kV substation project. The company is also incorporating two new subsidiaries to manage a 130 MW solar power project and a 48.10 km greenfield highway project in Madhya Pradesh. These moves signify a strategic diversification into power transmission and renewable energy alongside its core infrastructure business. The highway project will be executed on a Hybrid Annuity Mode (HAM), providing long-term revenue visibility.

Ceigall India Limited's subsidiary has successfully achieved Milestone I for the Southern Ayodhya Bypass project in Uttar Pradesh. The Independent Engineer has certified a physical progress of 20.09% as of December 29, 2025. This 32.172 km project is being executed on a Hybrid Annuity Model (HAM) basis. Timely achievement of milestones is a positive indicator of the company's execution capabilities and ensures steady cash flows under the HAM framework.

Ceigall India's subsidiary has secured a Letter of Award for the Indore-Ujjain Greenfield Highway project worth ₹1,089 crore. The project, awarded by MPRDC, involves constructing a 48.10 km four-lane highway under the Hybrid Annuity Mode (HAM). The construction is scheduled for completion within 24 months from the appointment date. This contract significantly bolsters the company's order book and highlights its expertise in specialized infrastructure projects.

Ceigall India's wholly owned subsidiary, Ceigall Infra Projects Private Limited, has received a Letter of Award (LOA) for a major highway project in Madhya Pradesh. The contract, valued at Rs 1,089.00 crores, involves the construction of a 48.10 km greenfield 4-lane highway between Indore and Ujjain. The project will be executed under the Hybrid Annuity Mode (HAM), which typically offers better cash flow visibility for developers. The execution period is set at 24 months from the date of appointment, providing strong revenue visibility for the company over the next two years.

Ceigall India's subsidiary has successfully received a provisional certificate for the six-laning of the Jodhpur Romana to Mandi Dabwali section of NH-54 in Punjab. The project, with a Bid Project Cost of Rs 613.11 Crores, was executed under the Hybrid Annuity Mode (HAM). Commercial operations have been declared effective from December 22, 2025, following the Independent Engineer's certification. This completion allows the company to begin receiving annuity payments from NHAI, strengthening its cash flow profile.

Ceigall India Limited has received a Letter of Award (LOA) from Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) for 130 MW of solar power projects. The contract, valued at approximately ₹550 crore, falls under the PM KUSUM-C scheme and involves the design, construction, and operation of solar plants. The project has an execution timeline of 18 months followed by a 25-year operational period supported by a long-term Power Purchase Agreement. This marks a significant strategic diversification for the company into the renewable energy EPC segment.

Ceigall India Limited has secured multiple Letters of Award from Madhya Pradesh Urja Vikas Nigam Ltd. (MPUVNL) for solar PV power projects with an aggregate capacity of 130 MW (AC). The projects, valued at approximately ₹550 crore, are part of the Surya Mitra Krishi Feeders Scheme under PM KUSUM-C. The company has an 18-month window for execution, followed by a 25-year operational period under a Power Purchase Agreement (PPA). This move marks a significant expansion into the renewable energy infrastructure sector.

Ceigall India Limited has been declared the L1 bidder for a 130 MW (AC) solar power project in Madhya Pradesh under the PM KUSUM-C scheme. The project, awarded by Madhya Pradesh Urja Vikas Nigam Ltd (MPUVNL), has an estimated EPC cost of approximately ₹550 crore including GST. The contract involves an 18-month execution period followed by a 25-year operational phase under a Power Purchase Agreement. This move marks a significant step in the company's diversification into the renewable energy infrastructure sector.

Ceigall India Limited's subsidiary has received the official Completion Certificate for a 65 km four-laning highway project in Punjab under the Hybrid Annuity Model (HAM). The project, valued at ₹918 crore, was completed 214 days ahead of its scheduled timeline, highlighting the company's strong execution capabilities. Commercial operations have officially commenced as of November 11, 2025, which triggers the start of the 15-year annuity payment cycle. This milestone ensures long-term, stable cash flows through 30 half-yearly installments.