Ceigall India Limited has informed the Exchange about General Updates Intimation of declaration of Appointed Date for the Project.
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Ceigall India's subsidiary, Ceigall Northern Ayodhya Bypass Private Limited, has received confirmation from NHAI (National Highways Authority of India) that the Appointed Date for the Northern Ayodhya Bypass project is 09 July 2025. The project involves constructing a 4/6 lane bypass of 35.40 km on NH-27 in Uttar Pradesh under the Hybrid Annuity Mode (HAM). The bid project cost is Rs. 1,199.30 crore, and it falls under NHDP Phase-V-II. With the Appointed Date now declared, the construction phase officially begins and the company can start recognizing revenue and billing on this project.
This is a positive development as it removes uncertainty around project commencement and allows Ceigall to begin execution and revenue recognition on a Rs. 1,199 crore highway order. Given the project size relative to the company's order book, this should support future revenue growth, though execution timelines and cost management will be key watchpoints.