Ceigall India Limited announced on Tuesday, March 17, that its wholly owned subsidiary, Ceigall Infra Projects Private Limited (CIPPL), has emerged as the lowest (L1) bidder for two tenders floated by the Punjab Infrastructure Development Board. According to reports from CNBC TV18, the financial bids were opened on March 16, 2026, according to the Punjab government's e-procurement portal.
Both projects involve the construction and development of world-class urban streets in Ludhiana under the Hybrid Annuity Model (Packages 1 and 3). As reported by CNBC TV18, the contracts are domestic, with an 8-month construction timeline and 6 years of maintenance. The bid values stand at ₹108 crore and ₹99 crore respectively.
This latest win follows Ceigall's earlier success on March 12, when its joint venture with Sushee Infra & Mining Ltd emerged as the L1 bidder for four road projects from the Ministry of Road Transport and Highways, worth ₹2,149.62 crore. According to CNBC TV18, the company reported steady Q3 performance with net profit rising 1.2% year-on-year to ₹74.1 crore, while revenue grew 19.3% to ₹991 crore.
Shares of Ceigall India closed 2.44% higher at ₹279 on March 17 on the NSE, as reported by CNBC TV18. The stock performance reflects positive market sentiment following the company's consecutive major contract wins in the infrastructure sector.
