Infrastructure company Ceigall India Limited on Friday (July 4) said it has received an arbitration award worth ₹19.36 crore in its favour from the Arbitral Tribunal in a dispute with the Himachal Pradesh Public Works Department (PWD).
The award was issued under Section 31 of the Arbitration and Conciliation Act, 1996, and pertains to the road project involving widening and geometric improvements of NH-88 (now NH-103) between Kandror bridge and Hamirpur in Himachal Pradesh.
The tribunal granted the award along with future interest at 9% per annum, effective from October 4, 2025. The company said the award will have a positive impact on its financial position. The arbitration was related to section-III of the project.
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This week, Ceigall India said its subsidiary, Ceigall Northern Ayodhya Bypass Private Limited, has secured a ₹1,199.30-crore road project from the National Highways Authority of India (NHAI). The contract involves the construction of a 4/6 lane northern Ayodhya bypass with a total length of 35.40 km in Uttar Pradesh.
“…we are pleased to inform you that Ceigall Northern Ayodhya Bypass Private Limited, a subsidiary of the Company, has received a letter dated 1 July 2025 from the National Highways Authority of India, notifying 09 July 2025 as the “Appointed Date” for the Project,” according to a stock exchange filing.
The project will be executed under the hybrid annuity mode (HAM) as part of NHDP phase-VII.
Also Read: Strong orders and debt reduction fuel Ceigall India’s post-IPO growth, says CEO
Shares of Ceigall India Ltd ended at ₹269.10, up by ₹2.20, or 0.82%, on the BSE.
First Published: Christmas 4, 2025 5:13 PM IS
