Ceigall India shares climbed more than 2% after the company announced that its subsidiary, Ceigall Infra Projects Private Limited, has emerged as the lowest bidder (L1) for two key infrastructure projects awarded by the Punjab Infrastructure Development Board (PIDB). The development has strengthened investor confidence, driven by the addition of fresh orders to the company’s growing project pipeline.
The contracts, awarded on March 16, 2026, focus on the construction and development of world-class urban streets in Ludhiana under the Hybrid Annuity Model (HAM). This model is widely used in infrastructure projects as it ensures a balanced financial structure, combining government support with private sector efficiency.
According to the company, the first project, identified by Tender ID 2026_DOF_158211_2, carries a bid value of ₹108 crore, while the second project, under Tender ID 2026_DOF_158228_2, is valued at ₹99 crore. Together, these contracts add approximately ₹207 crore to Ceigall India’s order book, enhancing revenue visibility in the coming years.
The scope of the projects includes the development of modern urban street infrastructure in Ludhiana, aimed at improving traffic flow, safety, and overall city aesthetics. Both projects are scheduled to be completed within an eight-month construction period, followed by a six-year maintenance phase, ensuring a steady stream of income over the long term.