Ceigall India Secures ₹214.52 Crore Mining Project in Bihar

has received a Letter of Intent (LOI) from the Government of Bihar’s Department of Mines and Geology for the allotment and leasing of stone blocks in Nawada district, under Lot-4 (Bhadokhara, Block-D). The project was awarded through competitive bidding via E-Reverse Auction and marks the company’s entry into stone block mining operations. The project is structured as a quantity-based mining contract with an estimated minable reserve of 4,19,300 cubic metres annually and a total reserve of 20,96,500 cubic metres over five years. The company will undertake mining of stone blocks under the awarded lease. The contract carries an annual value of ₹28.82 crore, with a 20% escalation every year over the five-year period. The total cumulative contract value is estimated at ₹214.52 crore, excluding GST and other applicable taxes. The LOI was issued by the Bihar government on September 28, 2026, and received by Ceigall India through email on September 29, 2026. The order represents a domestic contract and does not involve any related-party transaction. The company has also confirmed that its promoters and group companies have no interest in the awarding entity. For investors, key monitorables include completion of lease formalities, commencement of mining operations, execution of annual extraction targets and revenue contribution from the project. The development adds a new mining-related business opportunity to Ceigall India's portfolio. Disclosure: I do not hold any position or financial interest in the mentioned stock.