Ceigall India Ltd Wins Velgaon Substation Project, Secures ₹585 Million Annual Transmission Charge for 35 Years

Ceigall India Ltd, one of India’s fast-growing infrastructure companies, achieved a significant milestone by emerging as the L1 bidder for the establishment of the 400/220 kV Velgaon substation (GIS) through a tariff-based competitive bidding process floated by REC Power Development and Consultancy Limited. The project, set for a 24-month completion window, comes with a guaranteed annual transmission charge of ₹585 million, spanning a 35-year operation and maintenance period, thus providing substantial financial stability for the company.

The Letter of Intent underlines Ceigall’s consistent order-book growth, complementing its robust financials for FY25: revenues rose 13.5% to ₹3,437 crore, borrowings fell 7.1%, and net cash flow improved significantly. The Velgaon substation win will help expand Ceigall’s footprint in high-value energy infrastructure, reinforcing its capabilities beyond traditional EPC projects and attracting further institutional investor confidence.

Ceigall India specializes in complex structural works—flyovers, bridges, tunnels, expressways—and now power transmission. The company aims to target 10–15% revenue growth for FY26, guided by a substantial tender pipeline worth ₹70,000 crore.

Key Highlights

Ceigall India Ltd wins LoI to establish 400/220 kV Velgaon substation; L1 bidder via competitive bidding.

Project completion slated for 24 months, followed by 35 years of O&M with fixed ₹585 million annual charges.

Robust order pipeline positions Ceigall for high growth in FY26, with targeted 10–15% revenue increase.

FY25 financials show double-digit revenue growth, reduced debt, and sharp cash flow improvement.

Win signals rising investor confidence and expanded business scope from EPC to power transmission.

Source: Ceigall India Company Announcements, Business Upturn, Trade Brains, Equity Bulls, REC Power Development & Consultancy Ltd