CEIGALL INDIA INCORPORATES PROJECT SPV FOR HIGHWAY CONSTRUCTION IN PUNJAB

has incorporated a Special Purpose Vehicle (SPV) under the name of Ceigall Ambala Chandigarh Zirakpur Limited as a subsidiary to execute 10.3 Km highway construction project from Ambala-Chandigarh to Zirakpur Bypass under Hybrid Annuity Mode. will hold 26% stake in the infrastructure development focused entity. The National Highways Authority of India (NHAI) had awarded the contract for construction of a 6-lane access-controlled spur connectivity starting from Ambala–Chandigarh section and terminating at Zirakpur Bypass. Having a market cap of Rs 5,637 crore, the company has delivered strong sales and profit growth of 45% CAGR and 32% CAGR respectively. With this new contract, the company's sales and profit growth are expected to increase in the coming years.