Atlantaa Limited Registers Redevelopment Agreement with GDV of ₹500 Crores
Atlantaa Limited has registered a Development Agreement for the redevelopment of a plot in Borivali (East), Mumbai, with an estimated Gross Development Value (GDV) of ₹500 crore. The project spans approximately 4,496 sq. meters and will deliver 1.75 lakh sq. ft. of saleable carpet area.
The redevelopment project represents a new business venture for the company, contributing to its real estate footprint and revenue potential. However, the full impact will be realized upon project completion.
The announcement details a new development agreement for a significant redevelopment project with a substantial Gross Development Value, indicating positive business expansion.
Atlantaa Limited has executed a Development Agreement with Highway Milton Co-operative Housing Society for the redevelopment of its residential premises in Borivali (East), Mumbai. The project involves approximately 4,496 square meters of land and is expected to yield 1.75 lakh sq. ft. of saleable carpet area.
The estimated Gross Development Value (GDV) for this redevelopment is ₹500 crore. Strategically located off the Western Express Highway, the project benefits from excellent metro connectivity and is situated in a prime residential area with strong demand. This initiative aligns with Atlantaa Limited's strategy of focusing on high-impact redevelopment projects in Mumbai's urban landscape.
Mr. Rickiin Bbarot, Managing Director of Atlantaa Limited, stated that the project aims to create a modern, efficient, and future-focused living environment. The company, with a legacy of 48 years, is committed to delivering quality infrastructure and residential developments.
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ATLANTAA LIMITED filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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