Ceigall India gains after securing 337 MW solar power project under MSEDCL scheme

Ceigall India rose 2.17% to Rs 280.15 after the company said that it has secured two letters of intent from Maharashtra State Electricity Distribution Company (MSEDCL) for 337 MW of solar power under the Mukhyamantri Saur Krushi Vahini Yojana 2.0.

The project, sanctioned under the flagship initiative Mukhyamantri Saur Krushi Vahini Yojana 2.0, will entail the setting up of grid-connected solar power projects at multiple locations across Maharashtra, through the procurement of 337 MW solar power against tariff based competitive bid invited by MSEDCL

Ramneek Sehgal, chairman & managing director of Ceigall India, said, ?Securing Letters of Intent for solar power procurement in Maharashtra marks Ceigall?s foray into the renewable energy sector?a space that will define the future of infrastructure and sustainable development in the country. This milestone reflects our commitment to building world-class solar projects that advance India?s clean energy goals while empowering communities with reliable green power. This milestone is just the beginning?we envision Ceigall playing a leading role in India?s energy transition and creating long-term value for all stakeholders.?

Ceigall India is an infrastructure engineering, procurement, and construction (EPC) company undertaking specialized structural works such as elevated roads, flyovers, bridges, railway overbridges, tunnels, highways, expressways, and runways. The principal business operations are broadly divided into EPC projects and hybrid annuity model (HAM) projects.

The company?s consolidated net profit declined 33% to Rs 53.18 crore on a 1.9% rise in revenue from operations to Rs 838.18 crore in Q1 FY26 over Q1 FY25.

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