Peninsula Land Rallies 17% After Acquiring Two Prime Land Parcels
Shares of Peninsula Land Ltd rallied 17% to touch a day’s high of Rs 42.77 on 10th July. This occurred after the firm announced it had acquired two prime land parcels—11 acres in Sogaon, Alibaug, and 29 acres in Bhilawale, Karjat.
Peninsula Land Ltd has set up a Rs 765 crore real estate development platform through an equity partnership with Alpha Alternatives and Delta Corp. A joint venture agreement (JVA) was signed on 24th June, 2024, to launch this platform.
As part of the JV, a special purpose entity—Prairie Real Estate LLP—has acquired 11 acres in Sogaon, Alibaug, for a premium plotted development project. This follows an earlier deal for around 32 acres in Bhilawale, Karjat.
So far, the JVA partners have committed approximately Rs 216 crore to these projects. These projects aim to support Peninsula Land’s long-term growth.
The upcoming developments in Alibaug and Karjat are designed as premium plotted communities. They will offer modern infrastructure, curated amenities, and a secure environment. These plots are targeted at investors, second-home buyers, and urban families seeking luxury retreats or lifestyle upgrades.
At 1:53 PM, the shares of Peninsula Land were trading 15.79% higher at Rs 41.80 on NSE.
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