Ceigall India Wins ₹603 Crore NHAI Highway Project in Punjab

Ceigall India Limited has secured a major infrastructure contract worth ₹603 crore from the National Highways Authority of India (NHAI), further strengthening its position in the highway development sector.

The contract has been awarded to its wholly owned subsidiary, Ceigall Infra Projects Private Limited (CIPPL), marking another milestone in the company’s expanding order book.

Key Highlights of the Project

The project involves the construction of a 6-lane access-controlled spur connectivity road in the state of Punjab.

Important project details:

• Project length: 10.300 km
• Location: From Ambala–Chandigarh section of NH-205A to Zirakpur Bypass
• Mode: Hybrid Annuity Model (HAM)
• Project cost: ₹603 crore (bid value)

The project has been awarded through a Letter of Award dated March 27, 2026.

Execution Timeline

The project will be executed in two phases:

• Construction period: 18 months
• Operation and Maintenance period: 15 years

This long-term structure ensures not only construction but also sustained maintenance and performance standards over time.

Understanding Hybrid Annuity Model

The Hybrid Annuity Model (HAM) is a widely used framework in India’s highway sector.

Key features include:

• Shared financial responsibility between government and private developer
• Reduced risk compared to pure EPC or BOT models
• Assured returns through annuity payments over time

This model has been instrumental in accelerating road infrastructure development across India.

Strategic Importance of the Project

The awarded project is strategically significant due to:

• Improved connectivity between Ambala, Chandigarh, and Zirakpur
• Decongestion of existing traffic routes
• Boost to regional economic activity and logistics

Punjab and surrounding regions are critical corridors for trade, transport, and industrial movement, making such projects highly impactful.

Company’s Growth Strategy

Ceigall India continues to focus on:

• Expanding its infrastructure project portfolio
• Strengthening presence in high-growth highway corridors
• Executing projects under both EPC and HAM models

The company’s growing order book reflects its:

• Strong execution capabilities
• Technical expertise in large-scale projects
• Trusted partnerships with government agencies like NHAI

Management Commentary

The company’s leadership highlighted that winning this project reinforces its credibility in the infrastructure sector.

The management emphasized:

• Continued trust from NHAI
• Commitment to timely and quality project execution
• Focus on contributing to India’s infrastructure growth story

No Related Party Involvement

The company clarified that:

• The contract is awarded by a domestic government entity
• There is no promoter or group interest involved
• The transaction does not fall under related party transactions

This ensures transparency and compliance with regulatory requirements.

About Ceigall India Limited

Ceigall India Limited is a prominent engineering, procurement and construction company engaged in infrastructure development.

The company undertakes projects across:

• Highways and expressways
• Bridges and flyovers
• Railway overbridges
• Tunnels and runways

It operates under both:

• EPC model
• Hybrid Annuity Model (HAM)

With a strong track record, the company has established itself as a key player in India’s infrastructure sector.

Impact on Business Outlook

The ₹603 crore project is expected to:

• Strengthen the company’s revenue visibility
• Enhance its order book strength
• Improve long-term earnings stability through O&M income

Such projects also help build execution credentials, which are crucial for winning future contracts.

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