Multibagger penny stock below Rs 35: This micro-cap company bags new re-development project from Highway Milton Co-operative Housing Society Ltd

The stock gave multibagger returns of over 100 per cent in just 1 year and a whopping 370 per cent in 3 years.

In accordance with the Maharashtra Corporation Societies Act 1960 and following approval from the Deputy Registrar Co-operative Societies, R-North Ward, Highway Milton Co-operative Housing Society Limited (the Society) has selected Atlantaa Limited as the developer to rebuild their "Bansi Nagar" project. The project is located on a plot measuring approximately 4,496 square meters at Western Express Highway, Borivali (East), Mumbai 400066, and has the potential for a 1,61,187 square feet carpet area. The Society has issued a letter of award to Atlantaa Limited to officially commence the redevelopment project.

Atlanta Ltd, an ISO 9001:2015 certified construction company established in 1977, offers a wide range of services across India. They specialize in infrastructure development projects including roads, highways, bridges, and runways. Atlanta Ltd also takes on engineering, procurement, and construction (EPC) contracts and works under public-private partnership models like Build-Operate-Transfer (BOT) and Design-Build-Finance-Operate-Transfer (DBFOT).

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Additionally, they manage hybrid annuity mode projects and operation and maintenance transfers. Beyond construction, Atlanta Ltd is involved in real estate development, tourism, hospitality, and surface mining of limestone and coal. Some of their completed projects include toll ways, bypasses, toll plazas, a special economic zone, and various residential and commercial real estate developments.

As of March 2024, the promoters of the company own 72.18 per cent stake, the Government own a 0.01 per cent stake and the rest of the 27.81 per cent stake is owned by the public. The company has a market cap of Rs 268 crore. The stock gave multibagger returns of over 100 per cent in just 1 year and a whopping 370 per cent in 3 years.

Disclaimer: The article is for informational purposes only and not investment advice.