Peninsula registers impressive growth for 2005-06 Profit After Tax at Rs 144.19 Crore Declares Dividend of 25%

Mumbai, August 1, 2006: Peninsula Land Limited (PLL), formerly known as Morarjee Realties Limited (BSE Code: 503031), one of the largest players in the Indian real estate domain, today announced their results for the 15 months period ended June 2006 with an impressive PAT of Rs. 144.19 crores. In the first full year of operations after re-organization and consolidation the company has declared a dividend of 25%.

The Total income from operations for the 15 months period ended June 2006 stood at Rs 272 crores as compared to Rs.163.9 crores for the previous financial year.Net Profit for the 15 months period ended 30th June 2006 stood at Rs. 144.19 crores as compared to a loss of Rs.9.52 crores in the previous year.

The income from operations for the quarter ending 30th June 2006 was Rs.108. crores and a net profit of Rs.59.1 crores.

Commenting on the results, Mr. Rajeev Piramal, Executive Vice Chairman, Peninsula Land Limited said, "The last year or so has seen reorganization and consolidation of the real estate business. Our focus is now on completion of our existing projects and on continued growth through building our land bank. We believe we are well positioned to take full advantage of the real estate opportunity in the country." << Back