Peninsula Land Limited has informed the Exchange about General Updates
PENINLAND · price
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Peninsula Land has acquired two prime land parcels through its joint venture Real Estate Platform with Alpha Alternatives and Delta Corp – 11 acres in Sogaon, Alibaug and around 29 acres in Bhilawale, Karjat – for premium plotted development projects. This marks the second land acquisition under the JVA signed in June 2024, with about ₹216 crore already committed by partners so far out of the ₹765 crore platform size. The company highlighted strong past demand, noting that its AshokVistas project in Pune (125 plots) was nearly fully sold out on Day 1 of launch. Management stated this is the first deployment of capital from the RE platform, signalling a renewed focus on plotted developments as a core growth pillar. The Alibaug and Karjat micro-markets are being targeted due to improving infrastructure such as the Atal Setu and the upcoming Navi Mumbai airport.
Positive for shareholders – the deployment of platform capital into tangible projects shows execution of the JV strategy and could translate into future revenue from plotted developments. Sharp sell-through at past launches (AshokVistas) and large land bank additions suggest pipeline visibility, though actual revenue recognition depends on project launches and bookings in coming quarters.