Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
Peninsula Land, a prominent arm of the Ashok Piramal Group, has announced an astounding surge of 383.39% in its net consolidated profit for the quarter concluding on June 30, 2023. The company's profit after tax soared to Rs 61.68 crore in Q1 FY24, marking a substantial leap from the Rs 12.76 crore recorded in the corresponding quarter of the previous fiscal year. This remarkable financial feat was confirmed through a filing with the BSE. In the realm of Q1 FY24, Peninsula Land's net consolidated total income reached Rs 188.33 crore, witnessing a notable dip of 40.78% compared to the Rs 318 crore achieved during the analogous quarter in the preceding year.
Contemplating this achievement, Rajeev Piramal, the Vice Chairman and Managing Director of the company, remarked that in FY23, they successfully handed over around 617 flats across dynamic cities like Mumbai, Pune, and Bangalore. As they approach FY24, their resolute focus remains on delivering more than 1,500 apartments and plots. Their strategic outlook involves introducing fresh developmental stages within their current land assets and broadening their land portfolio through cooperative joint development strategies. Significantly, in this quarter, the company's management took a significant step by discontinuing the effort to sell an asset previously categorized as "assets held for sale" in a previous year, as detailed in the regulatory filing.
Furthermore, Peninsula Land takes pride in announcing a significant reduction in its consolidated debt. This reduction is striking, with consolidated debt plummeting from Rs 727 crore on June 30, 2022, to an impressive Rs 339 crore by June 30, 2023. It's noteworthy that Peninsula Land Limited, an integral component of the Ashok Piramal Group, has achieved a significant milestone by completing construction on a staggering 10.6 million square feet of real estate, enriching urban landscapes across key cities in the country. This accomplishment reflects their unwavering commitment to reshaping skylines and creating dynamic living spaces that resonate with modern aspirations.
In summary, Peninsula Land's remarkable surge in net consolidated profit, coupled with its strategic prowess and dedication to innovative real estate endeavours, underscores its position as a significant player within the industry.
Peninsula Land Limited (PLL), a key constituent of the Ashok Piramal Group, stands as one of the earliest real estate entities to be publicly listed. All the real estate endeavours of Peninsula are channelled through this flagship enterprise. Recognized for its concept-driven architectural marvels across commercial, retail, and residential domains, PLL exudes professionalism and expertise in creations like Crossroads, CR2, Peninsula Corporate Park, Peninsula Technopark, Peninsula Business Park, Ashok Towers, and Ashok Gardens. In the present day, Peninsula Land has evolved into an integrated real estate powerhouse. Our ventures span ground breaking retail initiatives, top-notch commercial undertakings, and residential complexes of excellence.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
We use cookies to give you the best possible service while using our website, please click accept and carry on browsing if you're happy with this. For more information see our Privacy Policy.
Okay, Got it!This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Propscience reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Propscience for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Propscience will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 ("RERA") and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Propscience accepts no responsibility for keeping the information in this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Propscience does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention to third party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Propscience accepts no responsibility for the content, reliability and information provided on these third-party websites. Propscience will not be held liable for any personal information of data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Propscience is not liable for the same. All details regarding a project/property provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. To find out more about a project / development, please register/contact us to visit the site you are interested in. All decisions taken by you in this regard will be taken independently and Propscience will not be liable for any such loss in connection with the same. This Site is for guidance only. Your use of this Site - including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional - client relationship between you and Propscience. Propscience cannot accept you as a client until certain formalities and requirements are met.
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy