Peninsula Land Limited has informed the Exchange regarding re-designation of Mr. Nandan Piramal from WTD to MD designated as Joint MD of the company w.e.f. May 29, 2026.
PENINLAND · price
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Peninsula Land Limited's Board meeting on May 29, 2026 approved multiple items including the re-designation of Mr. Nandan A. Piramal from Whole-time Director to Managing Director designated as Joint Managing Director, effective immediately but subject to shareholder approval. The company also reported audited standalone financial results showing Total Income of Rs. 16,907 lakhs for FY26 (down from Rs. 26,284 lakhs in FY25) and a net loss after tax of Rs. 15,368 lakhs compared to a loss of Rs. 2,527 lakhs in the prior year. The significant loss was driven by exceptional items of Rs. 14,025 lakhs primarily due to full impairment of loans to a joint venture entity (HIPDPL) undergoing insolvency proceedings. Other approvals included appointment of Aneja Assurance Private Limited as Internal Auditor and re-appointment of Mr. Pawan Swamy as Independent Director for a second term.
The company reported substantial losses driven by impairment charges related to a JV under insolvency. The promotion of Mr. Nandan Piramal to Joint MD elevates his role within the Piramal family-controlled board, with no change in remuneration.