The Company has entered into Agreement with IRCON International Limited for construction of Expressway Project. The Value of the Project is Rs. 2485 Crore, plus applicable GST.
ATLANTAA · price
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Atlantaa Limited has signed an agreement with IRCON International Limited to construct a 34.786 km stretch of the Bhandara-Gadchiroli Access Controlled Expressway in Maharashtra on EPC basis (Package BG-03). The contract, valued at Rs. 2,485 crore plus GST, has been awarded by Maharashtra State Road Development Corporation (MSRDC), with IRCON as the L-1 bidder. Atlantaa is entering this agreement as a sub-contractor to IRCON, and the deal is in anticipation of MSRDC formally awarding the main project to IRCON. The company has indicated it will make further disclosures once MSRDC officially awards the project. This is a substantial infrastructure order for Atlantaa, disclosed under SEBI Regulation 30.
This is a major contract win that could significantly boost Atlantaa's order book and future revenue, given the Rs. 2,485 crore size. However, the order is contingent on MSRDC's formal award to IRCON, so execution and revenue recognition carry some dependency risk. Shareholders should view this as a positive signal for business momentum, though they should track the formal award from MSRDC before assuming the deal is fully secured.