Ceigall India Bags ₹509.20 Crore GMADA Township Project; Stock Gains

New Delhi, September 29, 2025 – Ceigall India Limited (BSE: 544223, NSE: CEIGALL) shares climbed 2% in the morning trade after it reported that its joint venture with JSP Projects Pvt. Ltd. (JSPPPL) has received a Letter of Award (LoA) valued at ₹509.20 crore from the Greater Mohali Area Development Authority (GMADA) for the development of the Aerotropolis Township in S.A.S. Nagar, Mohali.

Project Details

Under the joint venture, Ceigall India has 80% equity and JSPPPL 20%. The work includes the development of internal roads, civil works, public health, and electrical infrastructure in Pockets B, C, and D of the township. It is an item-rate project with an execution period of 24 months.

Management Comments

Ramneek Sehgal, Ceigall India Chairman and MD, stated, “Receiving this LoA from GMADA is a significant milestone for Ceigall and reflects the confidence in our execution capacity. The Aerotropolis project is a city-changing initiative, and we are pleased to help build resilient infrastructure that will facilitate connectivity, growth, and sustainable urban development in the region.”

Stock Performance

Ceigall India share was up 0.44% to ₹263.30 on the NSE at 11:48 am IST, versus the last close of ₹262.15. The share rose to an intraday high of ₹269.31 and fell to ₹265.80. Market cap was at ₹4,673.05 crore, free float market cap at ₹823.65 crore.

Strategic Impact

The project enhances Ceigall’s presence in the infrastructure market of North India and accretes to its road, bridge, expressway, tunnel, and Hybrid Annuity Model (HAM) projects portfolio. The transaction also solidifies its position as a reliable EPC player in India’s urban infrastructure development story.

About Ceigall India

Established in 2002, Ceigall India Limited deals with infrastructure construction works such as elevated roads, flyovers, bridges, rail overbridges, tunnels, highways, expressways, and runways. It is listed on NSE and BSE and included in the Nifty Microcap 250 index.

REF: https://nsearchives.nseindia.com/corporate/ceigall_28092025110913_Press_Release_LOA_from_GMADA_28-09-2025.pdf

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations