Peninsula Land Limited has informed the Exchange regarding re-appointment of Nandan Piramal as Whole Time Director of the company w.e.f. October 26, 2025.
PENINLAND · price
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Peninsula Land's board, meeting on August 6, 2025, approved Q1 FY26 results and several governance changes. Revenue from operations grew ~23% year-on-year to Rs 3,684 lakhs (standalone), but the company posted a standalone loss after tax of Rs 1,645 lakhs and a consolidated loss of Rs 3,091 lakhs, partly due to Rs 643 lakhs in exceptional impairment charges. Rajeev A. Piramal was re-appointed as Executive Vice Chairman & Managing Director, and Nandan A. Piramal as Whole Time Director, both for 5 years from October 26, 2025 — both are sons of Chairperson Urvi A. Piramal, reinforcing promoter-family control. The board also appointed a new Secretarial Auditor (Shivam Sharma & Associates, 5-year term), a new Internal Auditor (Aneja Assurance, FY26), and Amyn Jassani as a new Independent Director for 5 years. The auditor flagged a material concern: NCLT has initiated Corporate Insolvency Resolution Process (CIRP) against JV entity Hem Infrastructure and Development Private Limited (HIPDPL), with the company's exposure pegged at Rs 9,615 lakhs (standalone) / Rs 9,184 lakhs (consolidated), and recoverability remains uncertain.
Mixed signals for shareholders — promoter continuity provides stability, but the deepening losses and the NCLT insolvency process against HIPDPL exposing nearly Rs 100 crores are serious overhangs. The CCD-to-equity conversion at Rs 44/share also indicates prior fundraising pressure. Watch the HIPDPL/NCLT outcome closely as it could materially impact book value.