Atlantaa hits 5% UC

Shares of Atlantaa were firm today, rising about 5% to Rs 43.55 on the BSE and touching the day’s upper price band in morning deals. The move extends last week’s rebound from the Rs 40 zone, though the stock still trades well below its 52-week high near Rs 73, and at a market capitalisation of around Rs 355 crore it remains a small-cap, high-beta infra name.

The buying interest follows the company’s announcement that it has formally executed a Development Agreement with Highway Milton Co-operative Housing Society for redevelopment of its residential premises at Borivali (East), Mumbai.

The project covers about 4,496 sq. metres of land and is expected to yield roughly 1.75 lakh sq. ft. of saleable carpet area with a projected gross development value (GDV) of Rs 500 crore. This agreement converts the earlier letter of intent for the same Highway Milton society, awarded in April 2024, into a binding development mandate, reducing regulatory and selection risk around the project.

From a scale perspective, the planned GDV is many times Atlantaa’s recent annual business throughput: consolidated net sales for FY25 were about Rs 25 crore, while quarterly total income in September 2025 stood near Rs 16 crore and profitability has been volatile.

Along with the Rs 2,485 crore expressway sub-contract the company bagged in Maharashtra earlier this year, the Borivali redevelopment reinforces management’s pivot towards higher-value, asset-backed projects that could, if executed well, materially change the earnings profile over the medium term.

However, investors should also weigh the risks: Atlantaa remains a leveraged micro-cap with weak long-term sales growth, high receivables and sizable contingent liabilities, making execution, funding and cash-flow discipline critical as these large contracts move into the construction phase.