Ceigall India shares touched a day high of ₹312 on the NSE after the company’s joint venture won highway orders worth over ₹2,150 crore.

The orders come from the Ministry of Road Transport and Highways, which issued four separate Letters of Acceptance on 17 August.

Ceigall India holds a 74% stake in the joint venture behind these projects, with its partner Sushee Infra Mining holding the remaining 26%.

All four contracts are for building sections of NH-913, also known as the Frontier Highway, in Arunachal Pradesh.

They’re structured as EPC projects, meaning the joint venture handles engineering, procurement and construction together.

Here’s how the four orders break down. The first, worth ₹521 crore, covers a stretch of the Huri-Taliha section and runs for three years, with five more years of maintenance after that.

The second, valued at ₹611.10 crore, covers the Sarli-Huri section on a similar timeline. The third order, worth ₹525 crore, is the longest at four years of construction, again followed by five years of upkeep.

The fourth, at ₹492.52 crore, rounds out the package with another three-year build.

Ceigall India said none of its promoters or group companies have any stake in the awarding entity, and confirmed the contracts don’t count as related-party transactions.

This win comes just a day after the company lost a smaller ₹330.84 crore tender in Delhi, which the Public Works Department cancelled citing documentation issues, even though Ceigall had been the lowest bidder back in June.

The company’s June quarter numbers were solid too. Net profit rose 15.5% to ₹61 crore, revenue climbed 16% to ₹970 crore, and EBITDA margins expanded to 14.8% from 13% a year earlier.

As of 13:25 pm on Tuesday, Ceigall India was trading at ₹306.20 on the NSE, down 3.09% for the day.

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