Ceigall India Limited has informed the Exchange about General Updates
CEIGALL · price
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Awaiting price reaction for this filing.
Ceigall India has received a Notice of Termination from Delhi Metro Rail Corporation (DMRC) on July 25, 2025, for the Bhubaneswar Metro Phase-I MRTS project. The original Letter of Acceptance was issued on August 14, 2024, for a contract valued at ₹898.99 crore, covering part design and construction of an elevated viaduct and six elevated stations. DMRC has scrapped the project entirely. The company is approaching for damages, claims, and compensation as per remedies available under the contract agreement and other legal recourse. The trading window for designated persons remains closed until 48 hours after the declaration of Q1 FY26 unaudited results.
This is a significant negative development as the company has lost a large contract worth nearly ₹899 crore. While Ceigall is pursuing compensation claims, the near-term order book and revenue visibility take a hit, and the outcome of legal recourse remains uncertain.