Mumbai-based infrastructure and real estate firm, Atlanta in consortium has bagged around Rs.10435.1mn order from National Highway Authority of India (NHAI), the flagship road building programme of the Ministry of Transport and Highways.
Atlanta along with a Joint Venture partner Essar Projects has bagged the order for four laning of Lucknow-Sultanpur road widening project of around 126 kilometres in Uttar Pradesh. The project has a concession period of 23 years, which includes two-and-a-half years of construction time and is based on Public Private Partnership (PPP) mode on Design, Build, Finance, Operate & Transfer (DBFOT) basis. The debt equity ratio is proposed at 3:1.
“We expect to bag additional road project orders worth Rs.20 bn in this fiscal,” said Rajhoo Bbarot, MD, Atlanta. He declined to divulge details of the fund raising.
A total of 34 players, including Gammon Infrastructure, L& T Infrastructure, HCC Concessions and IL&FS Transportation, had shown interest in the project.
Atlanta has registered a cumulative revenue growth of 30% during the last two years. The current order book of Rs.1,950 crore is seven times its FY11 sales, while the average execution cycle is three years. This gives good visibility of revenues for the coming three years.
Atlanta recently secured an order of 117 km Mohania-Ara for Rs.9170 mn in Bihar and another one in Punjab for Rs.2200mn. The Bihar project entails four laning of Mohania-Ara section on National Highway 30 under the public-private-partnership mode for a length of 117 km.
Currently Atlanta has two operational road projects. First is Mumbra bypass on NH 4 and the second is Nagpur Kondhali on NH 6. Other than this it is pre-qualified for projects worth Rs.400bn. So far, the company has done 225 lane kms and 600 lane Kms are in pipeline.
Atlanta’s focus areas for EPC business comprise highways, bridges, railways, and other urban infrastructure projects across the country. It has over 3 decades of experience in Engineering, procurement, Construction (EPC) and Realty.
Atlanta is credited with successfully commissioning India’s first Greenfield BOT project on National Highways – Udaipur Bypass within the record time of 18 months as against stipulated time of 36 months. Atlanta has already developed three projects on DBFOT basis on Public private partnership basis.
