Ceigall India Ltd announced on Thursday, March 12, that its joint venture with Sushee Infra & Mining Ltd (SIML) has emerged as the lowest bidder for four road projects worth ₹2,149.62 crore awarded by the Ministry of Road Transport and Highways (MoRTH). According to reports from CNBC TV18, the projects will be executed through the joint venture where Ceigall India holds a 74% stake and SIML holds 26%. The contracts involve the construction of multiple sections of the Sarli–Huri and Huri–Taliha stretches of National Highway 913 (Frontier Highway) in Arunachal Pradesh.
As reported by CNBC TV18, the three newly-announced tenders include projects with bid costs of ₹611.10 crore, ₹525 crore and ₹492.52 crore, respectively. The projects will be executed under the Engineering, Procurement and Construction (EPC) mode and are expected to have construction periods ranging from 36 to 48 months, along with a five-year maintenance period. The company confirmed that the contracts have been awarded by a domestic entity and do not fall under related party transactions.
According to CNBC TV18, during Q3FY26, Ceigall India's net profit rose 1.2% year-on-year to ₹74.1 crore from ₹73.2 crore in the same period last year. Revenue climbed 19.3% to ₹991 crore from ₹830.5 crore, while EBITDA increased by 12.8% YoY to ₹138.7 crore, though margins narrowed to 14% from 14.8% a year earlier. The company had earlier informed exchanges that the joint venture had also emerged as the L1 bidder for another MoRTH project involving the construction of the Huri–Taliha section of NH-913 with a bid cost of ₹521 crore.
As reported by CNBC TV18, shares of Ceigall India were trading 1.51% up at ₹273.10 as of 1:04 pm. However, the stock has dropped 8.75% in the last month, indicating mixed investor sentiment despite the significant contract wins.
