Peninsula Land Launches Rs 7.65 Billion Realty Platform, Acquires Land in Alibaug and Karjat

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.