Ceigall India wins ₹705 cr MoRTH NH-913 order 2026

Order win disclosed to exchanges

Ceigall India Limited has disclosed a confirmed work order from the Ministry of Road Transport and Highways (MoRTH) for a road construction project in Arunachal Pradesh. The contract value is ₹704.70 crore, excluding GST. The company said the disclosure was made to stock exchanges on August 24, 2026. The work relates to National Highway-913, also known as the Frontier Highway. The award adds to a set of project inflows the company has been reporting for the same corridor. The announcement is relevant for investors because it provides fresh execution visibility over a multi-year period. It also signals continued project activity on strategic border-area road infrastructure in Arunachal Pradesh.

What the project covers on NH-913 (Frontier Highway)

The contract covers the construction of the Lada-Sarli section of NH-913 in Arunachal Pradesh. The scope involves upgrading the road stretch from km 85.60 to km 168.00 to an Intermediate Lane. Ceigall India stated that the project is to be executed under an Engineering, Procurement and Construction (EPC) mode. Under the EPC structure described, the contractor is responsible for delivering the specified road development as per the contract terms. The company’s disclosure positions this as a confirmed work order, separate from references to other LOAs received by its joint ventures. The Frontier Highway is frequently cited in these disclosures as NH-913. The km markers and lane specification provide clarity on what portion of the highway is being developed.

Timeline: 48 months construction plus five-year maintenance

Ceigall India said the project carries a 48-month construction period. It also includes a five-year maintenance period following construction. This structure spreads the contractor’s responsibilities beyond completion, extending into post-construction upkeep. For project execution planning, the combined duration is significant because it requires sustained deployment for both build and maintenance phases. The company has explicitly stated the maintenance obligation as a five-year period. The construction and maintenance timelines were reiterated across the disclosures included in the provided information. The long duration also influences how revenues may be recognized over time under contract accounting. The company’s communication focused on the defined schedule rather than any targeted completion date.

Joint venture structure and receipt of LOA

In the Mumbai-dated disclosure, Ceigall India said it received a Letter of Acceptance from MoRTH via email dated August 24, 2026. The LOA was received for a ₹704.70 crore project in Arunachal Pradesh, excluding GST. Ceigall India and Sushee Infra and Mining Limited jointly secured the project in a 74:26 shareholding arrangement, as disclosed. This clarifies the commercial structure through which the project will be executed. The information provided also describes the awarding entity as domestic. Ceigall India further stated that the transaction does not fall under related-party transactions. These points matter for governance disclosures and for assessing counterparty and compliance considerations.

Value, exclusions, and what “effective share” implies

The disclosed contract value for the Lada-Sarli project is ₹704.70 crore (excluding GST). Separately, information provided also referenced an “effective share” concept for Ceigall India’s stake in the joint venture. With Ceigall holding 74% in the JV, the effective share of the ₹704.70 crore order value was cited as around ₹521.48 crore. This is not the contract value, but a stake-adjusted indicator of exposure often tracked by market participants when JVs are involved. Investors typically look at both the headline award and the stake-adjusted share to interpret how work and financial contribution may be apportioned within a JV. The disclosure itself is centered on the contract and JV shareholding arrangement, alongside the project scope and timelines.

Broader NH-913 awards: five LOAs totaling ₹2,423.70 crore

Ceigall India also reported that its joint ventures secured five Letters of Acceptance from MoRTH for road construction on NH-913 in Arunachal Pradesh. Across the five LOAs, the combined bid value disclosed is ₹2,423.70 crore. The provided information also breaks this into four packages worth ₹2,149.62 crore awarded to a 74:26 joint venture between Ceigall India and Sushee Infra and Mining Limited. In addition, a separate ₹274.08 crore package was disclosed for the Bile-Migging section (Package-2) of NH-913 under a 70:30 joint venture with Rajinder Infrastructure. The Bile-Migging package scope was described as covering km 17.812 to km 55.377. Both the larger set of LOAs and the separately highlighted confirmed work order indicate active awarding momentum on the Frontier Highway corridor.

Stock reaction and market snapshot

A market snapshot included in the provided information said Ceigall India added 3.74% to ₹326 after the company, jointly with Sushee Infra and Mining, announced receipt of the LOA from MoRTH. The same snapshot described the contract as involving construction of an 82.4-km road on the Lada-Sarli section of NH-913 in Arunachal Pradesh under EPC mode. It reiterated the 48-month construction period and five-year post-construction maintenance period. Stock price reactions can reflect how quickly the market factors in order inflows and execution visibility. However, the disclosure itself is primarily about the order receipt and contract terms, not about any guidance.

Order book context as of June 30, 2026

The provided information also stated that these fresh project inflows expand Ceigall India’s total order book beyond ₹18,568.3 crore, reported as of June 30, 2026. This context is relevant because it frames the NH-913 awards within the company’s broader execution pipeline. A higher order book can indicate multi-year visibility for contractors, subject to execution schedules and working capital requirements. The reported order book figure is a snapshot and does not, by itself, provide the timing of billings. Still, it offers a reference point for assessing the scale of new awards relative to the company’s existing backlog.

Key facts at a glance

NH-913 LOAs disclosed by Ceigall India

Why the NH-913 awards matter for the EPC sector

MoRTH awards on NH-913 highlight ongoing road project activity in Arunachal Pradesh, a state where terrain and logistics can be demanding for EPC execution. For contractors, defined EPC scopes with specified maintenance obligations create long-duration responsibilities that can influence resource planning. The disclosures also show the use of joint ventures, which is common in large road projects where capabilities, pre-qualification, and risk-sharing are important. From a market perspective, the mix of a headline contract value and stake-adjusted “effective share” figures can shape how investors interpret the economic exposure for listed partners. The company’s statement that the awarding entity is domestic and that the transaction is not a related-party transaction adds clarity on governance aspects. All these elements together explain why such contract disclosures can be stock-moving events, as seen in the reported price reaction.

Conclusion

Ceigall India’s August 24, 2026 exchange disclosure confirms a ₹704.70 crore (excluding GST) MoRTH EPC award for the Lada-Sarli section of NH-913 in Arunachal Pradesh, with a 48-month construction period and five-year maintenance obligation. The company also reported five NH-913 LOAs totaling ₹2,423.70 crore across its joint ventures. The next key developments to track will be further exchange updates on execution progress as the company commences work under the received LOAs.