Atlanta Signs ₹2,485 Crore Deal with IRCON for Bhandara-Gadchiroli Expressway; Share Price Hits Upper Circuit

Atlantaa Limited said on September 30 that it has signed an agreement with IRCON International Limited for construction work on the Bhandara–Gadchiroli Access Controlled Expressway in Maharashtra. Reportedly, the project will be executed under the EPC mode.

Project Stretch

The work relates to Package BG-03, covering 34.786 km. The section runs from km 34+750 at Sarandi Bk in Lakhandur taluk, Bhandara district, to km 69+536 at Kinhi in Bramhapuri taluk, Chandrapur district.

Project Cost

The subcontract value is ₹2,485 crore, excluding applicable GST. The agreement was entered into before the Maharashtra State Road Development Corporation (MSRDC) issued the final award to IRCON, which was declared the lowest bidder for the package through the tender process.

Atlantaa Overview

Atlantaa Limited, earlier known as Altanta Limited, undertakes infrastructure projects including highways, railways, and runways. The company also executes large EPC contracts and real estate ventures across India. In July 2025, Atlantaa received two contracts worth ₹1,113 crore from the Mumbai Metropolitan Region Development Authority (MMRDA) for work related to Metro Lines 5 and 6.

IRCON Overview

IRCON International Limited is a government company under the Ministry of Railways. Incorporated under the Companies Act, 1950, it works on a wide range of construction projects in transport and other infrastructure sectors.

Share Price Performance 

As of October 1, 2025, 10:42 am, Atlantaa share price was trading at ₹46.38, hitting 20.00% upper circuit, while Ircon International share price stood at ₹172.80, a 1.06% increase from the previous closing price.

Read More: Ircon International JV Arm Commissions 100 MW Additional Capacity!

Conclusion

The signed pact between Atlantaa and IRCON covers a 34.7 km stretch of the planned Bhandara-Gadchiroli expressway in Maharashtra. The project is valued at ₹2,485 crore, with the final award from MSRDC to IRCON still awaited.

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