Moneycontrol excl: Atlanta sees 50-55% revenue jump in FY12

Sagar Salvi
moneycontrol.com

Construction firm Atlanta Limited recently bagged an order worth Rs 917 crore from the government of Bihar. 

The new order has taken the company's total order book to Rs 1,950 crore. This includes a recent contract worth Rs 117.71 crore the company bagged in a joint venture with ARSS Infra.

The current book will be executed in three years, said the chairman and managing director Rajhoo Bbarot.

Atlanta has business spread over in four verticals like engineering, procurement and construction (EPC), infrastructure, realty and mining sectors.

Atlanta has real estate projects in Mumbai, Delhi and Jodhpur. "We are planning to launch two housing projects this October for a total cost of Rs 700 crore to be raised through internal accruals." the CMD said.

The company's total land bank currently stands at 1.1 million square feet. Bbarot said, "We aim to add another 1 million square feet going forward."

Atlanta plans to setup an entertainment city in public-private partnership (PPP) with Gujarat government on the outskirts of Surat with an estimated investment of Rs 9500 crore. The habitat cum entertainment center will have facilities and different theme parks such as Nature Park, Amusement Park, Water Park, Beach Park and a Ski dome.

"The mega project will have 2,000 villas and 2000 studio apartments for accommodation for the visitors also," Bbarot informed.   

The company stated that it has a debt of Rs 295 crore as on March 2011, and a debt equity ratio of 1:1. 

The company clocked a net profit of Rs 44 crore on total revenues of Rs 287 crore for the fiscal year ended March 31 last year.

"We should be able to achieve a 50-55% growth rate for FY12," Bbarot said.

Shares of Atlanta closed Thursday