Ceigall India's SPV Project 90.03% Physically Complete
Ceigall India's SPV, Ceigall Jalbehra Shahbad Greenfield Highway Private Limited, has achieved 90.03% physical progress for Payment Milestone - 10 on its NH 152G project. The project, part of Bharatmala Pariyojana Phase I, is executed under the Hybrid Annuity Model.
A 90.03% completion milestone suggests strong progress on a significant project, potentially leading to future revenue generation and positive financial impact. However, it is an update on progress rather than a new order or completion.
The announcement indicates significant physical progress on a key infrastructure project, which is a positive development for the company.
Ceigall India Limited has announced an update on its project: "Construction of 4 Lane Greenfield Jalbehra Shahbad Section of NH 152G Start from Km 0+000 to Km 22+850 (Part of Shahbad Thol Feeder Route) in State of Haryana on Hybrid Annuity Mode under Bharatmala Pariyojana Phase I". This project is being executed through its Special Purpose Vehicle (SPV), Ceigall Jalbehra Shahbad Greenfield Highway Private Limited.
As per a letter dated 18.02.2026 from the Independent Engineer (IE) to NHAI, the physical progress for Payment Milestone - 10 has been determined to be 90.03% for the SPV. This project is part of the ongoing projects under the Hybrid Annuity Model (HAM).
The project details, including a bid project cost of ₹6,840.00 million (684.00 crore) and an equity infusion of ₹554.07 million (55.41 crore), can be found on page 223 of the company's Red Herring Prospectus and are also available on the company's website, www.ceigall.com.
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Ceigall India Limited filed this with the NSE as a statutory disclosure, categorised under other company updates. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Ceigall India Limited. Read the original for the full detail.