Ceigall India advanced 4.68% to Rs 394.45 after the company said that it has emerged as lowest bidder (L1) for two projects in Uttar Pradesh for an aggregate value of Rs 2,498.5 crore.
The first project involves construction of 4/6 lane Northern Ayodhya Bypass Part1 north of NH27 and Part2 south of NH27 on HAM under NHDP Ph7 in Uttar Pradesh. The bid amount for this project is Rs 1,199.30 crore.The subsequent project includes construction of 4/6 Lane Southern Ayodhya Bypass of total length of 32.172 km on HAM basis under NHDP Ph-VII in Uttar Pradesh with a bid construction cost of Rs 1,299.20 crore.
Ceigall India is an infrastructure engineering, procurement and construction (EPC) company undertaking specialized structural works such as elevated roads, flyovers, bridges, railway over bridges, tunnels, highways, expressways and runways. The principal business operations are broadly divided into EPC projects and hybrid annuity model (HAM) projects.
The companys consolidated net profit from continued operations jumped 76.53% to Rs 77.85 crore on 26.49% increase in revenue from operations to Rs 822.39 crore in Q1 FY25 over Q1 FY24.
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