ATAL REALTECH LIMITED

Earns nearly all of its revenue from works contracts and government contracting, executing civil and electrical construction projects for government bodies in Maharashtra — primarily the Public Works Department. The Works Contract/Government Contracting segment accounted for 94.3% of FY26 segment revenue at ₹113.39 crore, with an EBIT margin of 9.3%. The active project portfolio stood at ₹515.04 crore, covering court buildings, hospitals, schools and hostels; top projects include a court complex in Moshi (₹91 crore), a tribal administrative complex in Nashik (₹62.41 crore) and a district court in Palghar (₹59.17 crore). A ₹24.92 crore contract for a PWD Rest House at Pratapgad was awarded in May 2026, with the firm also flagging plans to diversify into road and electrical infrastructure. A small Real Estate Business segment contributed 5.5% of segment revenue (₹6.66 crore) but ran at a -4.9% EBIT margin in FY26. Cost structure is dominated by other operating expenses at 58.6% of revenue, with employee cost at 2.7% and depreciation at 0.9%, indicating an asset-light contracting model with no materials cost booked separately. A wholly owned subsidiary, Atal Realty Limited, was acquired during FY26.