ATLANTA LTD
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BSE Code:
532759
NSE Code:
ATLANTA
Business Profile
Business Profile
Atlanta Limited (Atlanta) is a construction, mining, infrastructure and real estate company headquartered in Mumbai. Atlanta commenced its business in 1977 as Atlanta Construction Co. Ltd, a partnership firm and it became a private firm later in 1984.
The company executes construction projects for government and semi-government agencies all across India. Its construction activities include the construction of roads, highways, dams and mass rock excavations. Atlanta is also involved in build, operate and transfer (BOT) projects of highways and bridges. The company has worked on Udaipur bypass and Mumbra bypass projects on BOT basis. The company is also actively involved in the mining sector, having worked on open cast projects (OCP) for Mahanadi Coalfields Limited. In its real estate division, Atlanta has completed three projects, including Atlanta Tower in Mumbai.
Currently, the company has ongoing projects at Lucknow in Uttar Pradesh, Khurda-Bhubaneshwar in Orissa and Mumbai in Maharashtra among others.
Atlanta had come up with an IPO in September 2006.
Recent Developments
Atlanta got recently listed on the Bombay Stock Exchange and the National Stock Exchange.
Atlanta entered into a joint venture with Mumbai-based Thakural builders. Under this contract, the companies expect to develop a 60,000 sq ft commercial complex in Mumbai`s western suburb of Malad.
Atlanta decided to increase its authorised share capital in its extra ordinary general meeting (EGM). The new authorized share capital will be Rs 23,00,00,000/- divided into 2,00,00,000 equity shares of Rs 10/- each and 30,00,000 25% non-cumulative redeemable preference shares of Rs 10/- each.
Future Plans
Altanta will be developing Rs 5 billion worth commercial complex and township in Hyderabad. The township will have commercial space for industrial ancillary units and for residential purposes. The project is likely to take one year to materialise. Atlanta is planning to float a special purpose vehicle(SPV) in which it is likely to hold a 75% stake. The company is likely to bid for the 50 tenders to be initiated by the BrihanMumbai Municipal Corporation (BMC) by 2008. One of them is for building underground car parkings at Hutatma Chowk, Regal Cinema and Crawford market in Mumbai for facilitating 2,000 car parkings.