Image Source: Realty Plus Magazine
Peninsula Land Ltd, part of the Ashok Piramal Group, has unveiled a Rs 7.65 billion real estate development platform in collaboration with Delta Corp and Alpha Alternatives (AA Group), marking a strategic expansion into highgrowth regions.
Key Highlights:
-
The platform will focus on residential redevelopment in the Mumbai Metropolitan Region and plotted developments in Alibaug, Karjat, Khopoli, and Pune.
-
AA Group has committed Rs 450 crore, Peninsula Land Rs 225 crore, and Delta Corp Rs 90 crore towards the initiative.
-
Peninsula Land will serve as the exclusive development manager, leveraging its track record in premium housing and mixeduse projects.
Strategic Moves:
-
The company has acquired key land parcels in Alibaug and Karjat to kickstart plotted development under the new platform.
-
This venture replaces a previously proposed JV with Delta Corp, offering broader exposure and reduced financial concentration.
Sources: Economic Times, Construction World, ProjectX India, PropTechBuzz.
Advertisement
Advertisement