Ceigall India has emerged as the lowest financial bidder for an inter-state transmission project valued at Rs six point zero nine billion (bn) in Gujarat after securing the contract from REC Power Development and Consultancy. The tariff-based agreement carries an annual transmission charge of Rs six point zero nine billion for a 35-year operational period and the work is to be executed within 36 months.

Under the scope of work the company will establish common transmission systems to evacuate power from a 765/400 kilovolt (kV) air-insulated substation and will develop a 300 km transmission line. The system will serve evacuation from Lakadia Phase-II of seven point five gigawatt (GW), Jam Khambhaliya Phase-II of five point five gigawatt and Jamnagar Phase-I of one gigawatt across Gujarat and Maharashtra. The project was awarded through an e-reverse auction and will commence from the commissioning date.

Ceigall described the project as domestic in nature and stated that there are no related party transactions or promoter group interests involved in the contract. The company will undertake construction and subsequent operation under the concession terms for 35 years following commissioning. The firm will also be responsible for operation and maintenance of the transmission assets during the concession.

In Q1 FY27 the firm reported consolidated net profit of Rs 610 million (mn), up 15 per cent year-on-year from Rs 530 million reported in the same quarter last year, while revenue from operations rose nearly 16 per cent to Rs nine point seven billion (bn) from Rs one point zero nine billion in the year-ago period. Ceigall India scrip ended the most recent trade at Rs 337.85, up four per cent on the day. Over the past one month the share has traded flat on exchanges. Over six months the share price has increased by almost 19 per cent.