Home / Business and Economy / Delhi PWD Scraps ₹330.84 Cr Road Strengthening Tender
Delhi PWD Scraps ₹330.84 Cr Road Strengthening Tender
17 Aug
Summary
- Delhi PWD cancelled a ₹330.84 crore tender for road works.
- Ceigall India Ltd was the L1 bidder for the cancelled tender.
- Company reported a 15.5% rise in Q1FY27 net profit to ₹61 crore.
The Delhi government's Public Works Department (PWD) has rescinded a tender valued at ₹330.84 crore, inclusive of GST. This contract was intended for the strengthening and other associated works on various roads within the South Maintenance Zone, scheduled for the 2026-27 period. Ceigall India Ltd had previously informed the exchanges on June 30, 2026, that it was the highest (L1) bidder in the financial bid opening for this tender.
The cancellation notice, dated August 17, 2026, was communicated to Ceigall India Ltd via email, citing "documentary consideration" as the reason. This development follows a period of positive financial reporting by the Ludhiana-based infrastructure company.
For the first quarter of FY27, ending June 2026, Ceigall India reported a consolidated net profit of ₹61 crore, marking a 15.5% increase from the ₹53 crore earned in the same quarter of the previous year. The company's revenue from operations also saw a significant 16% year-on-year rise, reaching ₹970 crore compared to ₹838 crore in the prior year. Profitability metrics improved, with EBITDA increasing by 32% to ₹143.8 crore and its margin expanding by approximately 200 basis points to 14.8%.
In addition to its financial results, the company has set Friday, September 11, 2026, as the record date for its final dividend. The Board of Directors had previously recommended a final dividend of ₹0.50 per equity share for the financial year ended March 31, 2026.
