Atlantaa hits 5% upper circuit on ₹500-cr redevelopment project in Mumbai

Atlantaa shares hit 5 per cent upper circuit on the BSE at ₹43.55 per share. The buying on the counter came after the company registered the Development Agreement for the redevelopment of the “Bansi Nagar” project in Mumbai.

 

At 10:04 AM, Atlantaa’s share price was trading 4.99 per cent higher at ₹43.55 per share on BSE. In comparison, the BSE Sensex was down 0.58 per cent at 84,722.58.

 

The company has a total market capitalisation of ₹354.93 crore. Its 52-week high was at ₹73.17, and its 52-week low was at ₹27.5.  

 

“We wish to inform that Atlantaa Limited has registered the Development Agreement for the redevelopment of the plot admeasuring approximately 4,496 square meters and premises of Highway Milton Cooperative Housing Society Limited, known as “Bansi Nagar”, situated at Kulupwadi, Off Western Express Highway, Borivali (East), Mumbai - 400066,” the filing read. 

 

 

The project spans approximately 4,496 sq. meters of land parcel and is set to deliver an estimated 1.75 lakh sq. ft. of saleable carpet area upon completion.

 

With a projected Gross Development Value (GDV) of ₹500 crore, this redevelopment marks a significant addition to Atlantaa Limited’s expanding real estate footprint in the western suburbs, according to the filing. 

 

The Highway Milton redevelopment reinforces Atlantaa Limited’s focus on strategic, high-impact redevelopment in Mumbai’s land-constrained urban landscape. It further strengthens the company’s position as a trusted and progressive participant in the city’s evolving real estate transformation. 

 

Atlantaa is one of India’s longstanding infrastructure and real estate development companies, with a legacy spanning over 48 years. The company has delivered large-scale urban infrastructure projects, EPC works, and residential developments, earning a

reputation for trust, transparency, engineering excellence, and customer-centric values. Guided by a commitment to innovation, quality, and modern design, Atlantaa Limited continues to focus on developing functional, community-oriented, and future-ready developments across the Mumbai Metropolitan Region.