Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Stock Report

| More

Peninsula Land Limited's strong performance paves way for equity capital raise & joint venture

Posted On: 2023-11-30 16:03:45 (Time Zone: IST)

Peninsula Land Limited, a prominent real estate developer listed on the NSE and BSE, announced a proposed growth capital funding of INR 100 Cr, through the issuance of equity shares and CCDs to Delta Corp Ltd. This strategic collaboration is a testament to Peninsula Land's strong operational performance in the last five years which saw it reduce its debt by approx 90% (over INR 2200 Cr) and deliver more than 1800 units in the same period.

In addition, Peninsula Land and Delta Corp have proposed a joint venture with a combined investment of INR 250 Cr. Delta Corp would be the majority partner in the proposed joint venture and Peninsula Land Ltd would be the development manager (DM) for projects undertaken. The JV will be set up in due course.

Mr Rajeev Piramal, Vice Chairman and Managing Director of Peninsula Land Limited, stated, "Over the past few years, Peninsula Land has executed a clear strategic vision to execute projects and reduce debt through operational excellence and strong corporate governance protocol. I am thrilled to announce a new phase of growth with Delta Corp that will allow us to unlock the immense value that exists in the real estate sector today.

In the residential segment, we have built, sold and handed over homes ranging from INR 20 lakhs in the affordable category to INR 50 Cr in the super luxury category across several products including apartments, row houses, plots and villas. Hence, the depth and breadth of our operational capabilities across asset classes combined with the catalyst of this growth capital will enable us to continue our growth trajectory and create more value for our stakeholders."

Mr Jaydev Mody, Chairman Delta Corp Limited, stated, "Today, India's real estate sector is poised for growth and presents attractive opportunities to businesses. The industry is consolidating as regulations increase, demand grows, and customers increasingly seek established and trusted brands. Via this strategic venture with Peninsula Land, Delta is perfectly positioned to take advantage of this new phase of growth in India's realty space."

Shares of Peninsula Land Limited was last trading in BSE at Rs. 46.32 as compared to the previous close of Rs. 46.91. The total number of shares traded during the day was 94709 in over 1463 trades.

The stock hit an intraday high of Rs. 47.91 and intraday low of 45.46. The net turnover during the day was Rs. 4422549.00.

Click here to send ur comments or to

Other Headlines:

NTPC Green Energy Ltd joins hands with MAHAGENCO for development of Renewable Energy Parks in Maharashtra

Reliance and Disney announce strategic joint venture

Juniper Hotels shares closes at 10% upper circuit on debut

Panchsheel Organics Ltd approves proposal to acquire factory premises for expansion

Competent Automobiles Co. Ltd. gets approval for dealership in Srinagar

Alfa Transformers Ltd receives order worth Rs. 76.70 lakhs

KSB Ltd recommends dividend of Rs. 17.5

Sanjivani Paranteral Ltd forms subsidiary SPL Infusion Pvt Ltd

Zodiac Clothing Company SA acquires Zela Technologies Inc

Artefact Projects Limited bags projects assignment with contracted fees of Rs. 5.50 crores

Kennametal India Ltd renews royalty agreement with Kennametal Inc

Veer Energy & Infrastructure Ltd approves 1:3 rights issue

Chennai Meenakshi Multispeciality Hospital Ltd purchases C ARM Compatible Electric OT Table

Ahasolar Technologies Ltd receives order worth Rs. 37 lakhs

JSW Steel Limited forms new subsidiary JSW Green Steel Ltd

Karnataka Bank allots 37,72,730 shares to ICICI Lombard General Insurance Company Ltd

Wipro completes major Cloud Transformation for ManpowerGroup

Diamines and Chemicals Limited receives ISO certificate

IIFL Management Services Ltd to sell AIF business to IIFL Securities Alternate Asset Management Ltd

HCLTech's MRO solution for complex asset management achieves SAP certification

Closure of US FDA Inspection at Alkem Laboratories Ltd's API manufacturing facility located at Mandva

Femina and Mamaearth are back with the new season of Beautiful Indians 2024 - Celebrating the Beauty of Goodness

SBI Cards and Payment Services Ltd approves allotment of NCDs for Rs. 750 crores

LTIMindtree Joins Forces with IBM to Advance the Quantum Innovation Ecosystem

SpiceJet and AerCap Settle $29.9 Million dispute

Bajaj Healthcare Ltd enters into definitive CDMO Agreement for 15 APIs with UK/EU Customers

Introducing the Pune Music Festival at Blue Ridge: A Confluence of Music and Luxury

Transforming FinnUp's Debt Marketplace with Veefin's SCF Technology

NMDC Update on Kirandul Incident

KP Energy commission 25.2 MW ISTS connected wind power project

IntellectAI introduces groundbreaking technology to process loss runs in an instant - with greater than 95% accuracy and no touch

HAS International Sdn. Bhd. goes live with Ramco Aviation

Anuh Pharma Ltd receives EDQM approval for CEP of Sulfadoxine API

Airtel switches to recycled PVC SIM cards - partners IDEMIA

Joy e-bike honoured with 'Prestigious Rising Brands of Asia 2023-24 Award' at Global Business Symposium

Flyr Partners with RateGain to Offer Hoteliers with a holistic solution for AI?Driven Rate Optimization across Distribution Channels

Dvara Money and Jana Small Finance Bank Partner to facilitate Digital Banking in Bharat with Spark Money

EaseMyTrip and Zaggle forge strategic partnership to revolutionize travel and expense management solutions

Remedium Lifecare Limited receives Rs. 169 crore export order

Gensol Electric Vehicle receives ARAI Certification to launch its First Flagship Electric Vehicle

Chemplast Sanmar Ltd commissions new Paste PVC facility at SIPCOT, Cuddalore

Torrent Power emerges as the Successful Bidder for 'Transmission System for Evacuation of Power from RE Projects in Solapur SEZ in Maharashtra'

Vodafone Idea Ltd Board approves equity fund raise of up to Rs. 20,000 Crores

Airtel strengthens its retail footprint in Meerut with opening of one brand new store

Tanla announced 'Wisely ATP Spotlight' - an innovative citizen protection portal to fight against online scams

Union Bank of India partners with Maruti Suzuki India Ltd for Inventory Funding

CAMSRep releases report on 'Why India isn't claiming its Insurance?' at CIFIL Symposium on The Path to Insure a Billion at IIT Madras

Salasar Techno Engineering Ltd bags an order valued at over Rs. 2,000 Mn from M/s ZETWERK Business Private Limited

Remsons Industries Ltd announces stock split

IndoStar Capital Finance Ltd to raise over INR 450 crore by preferential allotment of warrants

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020