Ceigall India Begins ₹4,050 Crore Highway Projects, Strengthening Growth Visibility
Ceigall India Ltd has received the appointed date of July 6, 2026, for three Hybrid Annuity Mode (HAM) highway projects with a combined value of ₹4,050 crore, marking the official start of construction activities. In infrastructure projects, the appointed date is the legally recognized day when the project site is handed over to the developer, allowing construction to commence.
The projects include Package 11 of the Varanasi–Ranchi–Kolkata Greenfield Highway in Jharkhand, valued at ₹1,656 crore, Package 12 of the same corridor worth ₹1,305 crore, and the Indore–Ujjain Greenfield Highway in Madhya Pradesh valued at ₹1,089 crore. While the two Jharkhand projects are part of the Bharatmala Pariyojana aimed at improving long-distance connectivity, the Indore–Ujjain highway is expected to enhance regional transportation efficiency.
Looking ahead, the company expects at least 15% revenue growth in FY27, supported by a strong execution pipeline and an order book of ₹11,332 crore, which provides revenue visibility for the next three to four years. Ceigall is also targeting fresh order inflows of ₹6,000 crore during FY27 and has already bid for projects worth over ₹16,000 crore.
In addition, the company is monetising its road assets by signing an agreement to sell the Malout–Balluana–Sadhuwali project for approximately ₹177 crore, while the Bathinda–Dabwali transaction is expected to be signed next month and the Jalbehra–Shahbad asset sale is targeted within the next six months. These developments reflect the company's continued focus on expanding its project portfolio while improving capital efficiency through strategic asset monetisation.