About Peninsula Land Limited (Peninsula)

Peninsula Land Limited (Peninsula) is the real estate development arm of the Ashok Piramal Group, known for pioneering retail ventures, world‑class commercial projects and residential complexes. The Company reports a track record of 24+ years in real estate development and is among the early real estate companies to be listed on the BSE. Notable milestones include developing Mumbai’s first luxurious residential tower (Ashok Towers), building the city’s first retail mall (Crossroads), setting a commercial benchmark with Peninsula Corporate Park in Lower Parel, and driving the redevelopment of Mumbai’s first textile mill project.

What the Company does: Peninsula develops residential and commercial projects and undertakes development management (DM) and redevelopment projects. It generates revenue primarily from realty sales and rental income from investment property, and also recognises service fees such as rent, service fees and Project Management Consultancy/marketing fees as per agreements. The Company’s operating footprint focuses on key Indian cities—Mumbai, Pune, Nashik, Bengaluru, Karjat and Alibaug—reflecting a strategy concentrated on select growth markets. As of March 31, 2025, the Group consolidates 23 subsidiaries; it also has interests in associates and joint ventures, but only the count of subsidiaries is stated here.

Peninsula Land Limited Milestone

Key milestones achieved recently include setting up a Real Estate Development Platform in a joint venture with Alpha Alternatives group and Delta Corp Ltd. to pursue plotted‑development and redevelopment opportunities in Alibaug, Karjat, Pune and the Mumbai Metropolitan Region (MMR). The Company’s project roster for the year spanned its own residential/commercial developments (e.g., AddressOne, Ashok Vistas, Peninsula Centre) and a DM project (Salsette 27).

Peninsula Land Limited’s Key Management

• Urvi A. Piramal – Non-Executive Chairperson
• Rajeev A. Piramal – Executive Vice Chairman & Managing Director
• Nandan A. Piramal – Whole Time Director
• N. Gangadharan – Chief Financial Officer
• Pooja Sutradhar – Company Secretary & Compliance Officer

Latest Updates on Peninsula Land Limited (Peninsula)

• Fundraise: Raised Rs 150 crore through issue of Optionally Convertible Debentures (OCDs) to a strategic investor; during the year, 2,65,48,672 unlisted, unsecured OCDs of face value Rs 56.50 each (aggregating Rs 15,000 Lakh) were issued, with an option to convert within 18 months from allotment at Rs 56.50.
• Joint Venture: Set up a Rs 765 crore joint venture platform with strategic investors for profitable plotted and redevelopment projects in MMR, Alibaug, Karjat and Pune, with Peninsula as exclusive development manager. By Q1 FY 2025‑26, the platform concluded plotted development projects at Karjat and Alibaug and committed significant investments.
• Ashok Vistas: Launched Ashok Vistas (plotted development) at Gahunje, Pune; over 90% of the inventory was sold on day one.
• Peninsula Centre: Launched Peninsula Centre (commercial) at Gahunje, Pune; over 70% of the inventory was sold during the year.
• Development Agreement: Signed a development agreement for a redevelopment project at Worli, Mumbai.