Ceigall India Wins ₹704.70 Crore Joint Project; Shares Rise 3.23%

Mumbai, August 24: Ceigall India Limited, along with Sushee Infra & Mining Limited, has received a Letter of Acceptance from the Ministry of Road Transport & Highways for a ₹704.70 crore road construction project in Arunachal Pradesh, excluding GST.

According to the company’s regulatory disclosure, Ceigall India and Sushee Infra & Mining have jointly secured the project in a 74:26 shareholding arrangement. The Letter of Acceptance was received from the Ministry of Road Transport & Highways via email dated August 24, 2026.

The contract is an Engineering, Procurement and Construction project covering the construction of a 168-kilometre stretch from km 85.60 to km 168.00 of the La-Sari section of NH-913, also known as Frontier Highway, in Arunachal Pradesh.

The project has a construction period of 48 months, followed by a five-year maintenance period. The disclosed contract value is ₹704.70 crore, excluding GST.

The company also stated that the awarding entity is domestic and that the transaction does not fall under related-party transactions. No promoter or promoter group interest in the awarding entity has been disclosed.

Stock Market Snapshot

Ceigall India share price rose 3.23% to ₹324.50 as of 12:58 IST on August 24, 2026, according to the market data provided.

The stock started the session around the ₹318 level and moved higher through the morning. It crossed ₹325 during the session before settling at ₹324.50 at the reported timestamp.

The share price movement came as the company disclosed the new road project, adding a sizeable EPC order to its project pipeline. The contract’s four-year construction period also provides a defined execution window, followed by the stated maintenance obligation.

Ceigall India’s Road Infrastructure Execution Pipeline

Ceigall India has exposure to road construction and infrastructure projects, making the latest award directly relevant to its core EPC operations.

The Arunachal Pradesh project expands the company’s presence in a geographically demanding road construction environment. The scope involves a substantial 168-kilometre highway stretch, while the five-year maintenance period extends the contractual engagement beyond the initial construction phase.

The joint venture structure also brings Sushee Infra & Mining into the project, with Ceigall India holding the larger 74% share. The ₹704.70 crore contract value, excluding GST, therefore represents a significant addition to the company’s disclosed order pipeline.

Conclusion

The ₹704.70 crore Letter of Acceptance from MoRTH marks another sizeable road EPC award for Ceigall India and its joint venture partner, Sushee Infra & Mining.

With construction scheduled over 48 months and maintenance extending for another five years, the project provides a multi-year execution commitment. Ceigall India’s shares were trading at ₹324.50, up 3.23%, as of 12:58 IST on August 24, 2026.

Source:

• https://www.nseindia.com/get-quote/equity/CEIGALL/Ceigall-India-Limited
• https://nsearchives.nseindia.com/corporate/ceigall_24082026120338_Intimation_LoA_-_LS_85_to_168.pdf