Atlantaa shares hit 20% upper circuit for 2nd day after ₹2,485-cr contract

Atlantaa Ltd. shares hit a 20 per cent upper circuit for the second straight session on Friday after it signed a contract with IRCON International

Shares of Atlantaa Ltd. hit a 20 per cent upper circuit for the second straight session on Friday after it signed a contract with IRCON International Ltd. for ₹2,485 crore. 

 

The infrastructure development company's stock rose as much as 20 per cent during the day to ₹22.65 per share, the second straight day of a 20 per cent rally. Meanwhile, the benchmark Nifty50 index was 0.03 per cent higher as of 12:10 PM. 

 

Shares of the company has risen 40 per cent in two days. The counter has risen 14 per cent this year, compared to a 4.7 per cent advance in the benchmark Nifty 50. Atlantaa has a total market capitalisation of ₹456.07 crore. 

 

Atlantaa signs agreement with IRCON for Maharashtra project

The company entered into an agreement with IRCON International to undertake the construction of the Bhandara–Gadchiroli Access Controlled Expressway in Maharashtra, according to an exchange filing on Tuesday.

 

The project covers Package BG-03, stretching from km 34+750 at Sarandi Bk, Tq. Lakhandur, Dist. Bhandara, to km 69+536 at Kinhi, Tq. Bramhapuri, Dist. Chandrapur, with a total length of 34.786 km. The sub-contract is valued at ₹2,485 crores plus applicable GST, according to the statement.

 

IRCON had submitted its bid for the project following all legal and tender requirements set by the Maharashtra State Road Development Corporation (MSRDC) and was declared the lowest bidder (L-1) for the package. 

Atlantaa Q1 results 

Atlantaa reported a decline in its financial performance for the quarter ended June 2025. The company's consolidated revenues dropped 80.9 per cent quarter-on-quarter (Q-o-Q) and fell 49.2 per cent year-on-year (Y-o-Y).

 

Expenses for the quarter inched up 3.1 per cent Q-o-Q and 4.5 per cent Y-o-Y, adding further pressure on profitability. As a result, net profit fell 100.8 per cent Q-o-Q and declined 112.9 per cent Y-o-Y, turning negative during the period. 

 

The company is engaged in the business of infrastructure development, including the construction of Roads, highways, bridges, runways, real estate development and mining of coal and limestone. The company's business activities are engineering-procurement and construction (EPC), infrastructure development on a PPP model and Mining.