Peninsula Land Limited is a leading Indian real estate
developer headquartered at Mumbai and is part of Ashok
Piramal Group, a leading Indian conglomerate having
business interests in textiles, auto – components, cutting
tools, infrastructure, family entertainment and sports
besides real estate.
Peninsula Land Limited has its focus on all the three
major business segments viz. Residential, Retail and
Commercial. In the residential segment, the company
has delivered projects measuring about 2.8 million sq ft
till date. It has projects totalling over 3 million sq ft under
various stages of execution besides another 21 million sq
ft of saleable area in the pipeline across 6 cities in India.
Peninsula Land’s commercial real estate business has
been more active in Mumbai compared to other cities. The
Company has developed over 3 million sq ft of commercial
space till date. Most of its commercial projects are located
in Lower Parel. During the year, the Company sold around
3,00,000 sq ft of space in Peninsula Business Park (PBP).
PBP had a total saleable area of 1.2 million sq ft out of
which the company currently is left with an inventory of
around 1,20,000 odd sq feet.
In the retail segment, the company is credited for
developing India’s first organised retail mall, Crossroads,
at par with international standards. The Company has
completed two premium malls namely Crossroads and
CR2 in South Mumbai.
Snapshot Of Past Projects
Over the last fifteen years, the Company has developed
landmark properties that stretch over 6.4 million sq ft
across all three segments in the financial capital of India,
Mumbai, as listed below:
Projects
Type
Crossroads
Retail
Peninsula Centre
Commercial
Palm Beach
Residential
CR2
Retail
Peninsula Corporate Park
Commercial
Kanjur Marg
Low income housing project
Bayside Mall
Retail
Center Point
Commercial
Ashok Towers
Residential
Ashok Gardens
Residential
Peninsula Business Park
Commercial
Peninsula Technopark
Commercial
Business Segment Review
During the year, despite the macroeconomic environment
being a lot tougher than initially anticipated and despite
continued weakness in the real estate demand especially in
the commercial segment, Peninsula Land, well supported
by the strong demand for its brands, has comfortably
managed to achieve targets it had set for itself in FY’13,
both within and outside Mumbai.
Projects currently under execution
Listed below are the projects which are currently under
execution, aggregating to around 3 million sq ft of saleable
area:
Projects
Location
Type
Ashok Astoria
Nasik
Residential
Ashok Beleza
Goa
Residential
Ashok Nirvaan
Lonavala
Residential
Bishopsgate
Mumbai
Residential
Ashok Meadows
Pune
Residential
Future Projects in Pipeline
Following table gives the snapshot of the projects that
the Company plans to start over the next few years,
aggregating around 21 million sq ft of total saleable area:
