Ceigall India has secured a significant infrastructure contract from the National Highways Authority of India (NHAI) to construct a four-lane highway in Bihar. The project, valued at ₹2,160 crore (approximately $259 million USD), is being undertaken by Ceigall Infra Projects, a wholly-owned subsidiary of Ceigall India and awarded under the Hybrid Annuity Model (HAM).
The scope of the project encompasses the four-laning of the Sahebganj–Areraj–Bettiah section of National Highway-139W, spanning a total distance of 78.94 kilometers. The route is divided into two sections: Sahebganj to Areraj, covering 38.36 km, and Areraj to Bettiah, extending 40.58 km. The HAM model stipulates that Ceigall will be responsible for both the construction of the highway over a period of 730 days, and its subsequent operation and maintenance for a period of 15 years.
This project represents a substantial addition to Ceigall India’s order book, which stood at ₹13,295 crore as of December 2025. Roads and highways projects currently comprise approximately 64.11% of the total order book, amounting to around ₹8,523 crore. The company highlighted that this new contract reinforces its focus on annuity-based national highway projects, providing long-term revenue visibility and supporting sustainable growth.
Ramneek Sehgal, Chairperson and Managing Director of Ceigall India, stated that the project is aligned with the Indian government’s PM Gati Shakti vision, a national master plan for multi-modal connectivity. As a long-term partner in India’s infrastructure journey, we remain committed to delivering this project with speed, quality and sustainability, contributing meaningfully to the country’s infrastructure-led development agenda,
Sehgal said.
The Hybrid Annuity Model, employed for this project, is a public-private partnership (PPP) approach gaining prominence in India’s highway development. Under HAM, the NHAI provides 40% of the project cost in the first five years, while the private partner – in this case, Ceigall – finances the remaining 60%. The private entity then receives annuity payments from the NHAI over the 15-year operation and maintenance period. This model aims to share the risk between the public and private sectors, attracting private investment into highway infrastructure.
The project is expected to significantly improve regional connectivity within Bihar, a state with substantial infrastructure needs. Enhanced connectivity is anticipated to boost economic activity by facilitating the faster and more efficient movement of goods and passengers. Improved road safety is also cited as a key benefit. The Sahebganj–Areraj–Bettiah corridor is strategically important for regional trade and development.
Ceigall India’s financial performance has shown positive momentum. In the third quarter of the current fiscal year, the company reported revenue from operations of ₹969 crore, a notable increase from ₹810 crore in the corresponding quarter of the previous fiscal year. Profit after tax for the same period rose to ₹74.5 crore, up from ₹68.2 crore in Q3 FY25. This financial performance underscores the company’s growing capacity to undertake and execute large-scale infrastructure projects.
The emergence of Ceigall as the L1 bidder for this project was confirmed on January 21, 2026, according to company statements. The bid was submitted under Tender ID 2025_NHAI_242354_1. The company’s successful bid reflects its competitive pricing and technical expertise in the highway construction sector.
Ceigall India’s focus on infrastructure projects aligns with the broader trend of increased government spending on infrastructure development in India. The government has prioritized infrastructure investment as a key driver of economic growth, and the NHAI is actively seeking private sector participation to accelerate highway construction. The PM Gati Shakti initiative aims to create a seamless multi-modal transportation network across the country, and projects like the Sahebganj–Areraj–Bettiah highway are crucial components of this vision.
The company’s commitment to sustainability, as highlighted by Sehgal, is increasingly important in infrastructure development. Sustainable construction practices and environmentally responsible operations are becoming standard requirements for infrastructure projects globally, and Ceigall’s emphasis on these aspects positions it favorably in the market. The long-term operation and maintenance component of the project also necessitates a focus on durability and environmental impact.
Looking ahead, Ceigall India is well-positioned to capitalize on the growing demand for infrastructure development in India. Its robust order book, financial strength, and expertise in the HAM model provide a solid foundation for future growth. The successful completion of the Sahebganj–Areraj–Bettiah highway project will not only contribute to the economic development of Bihar but also enhance Ceigall’s reputation as a leading infrastructure developer in India.
