Peninsula Land Raises ₹150 Crore, Initiates Real Estate Platform

Peninsula Land (PLL), a subsidiary of the Ashok Piramal Group, has disclosed its successful raising of ₹150 crore through optionally convertible debentures. Arsenio Strategies, an affiliate of Alpha Alternative Holdings (AAHPL), is the investor behind this financial move.

Additionally, PLL has unveiled a strategic collaboration with Alpha Alternatives and Delta Corp to establish a real estate platform. This platform will exclusively handle residential redevelopment in the Mumbai Metropolitan Region (MMR) and plotted development in and around MMR, Alibaug, Khopoli, Karjat, and Pune. The platform’s envisioned funding is set at up to ₹765 crore.

The proposed contributions for this endeavor stand at ₹450 crore (59%) from Alpha Alternatives, ₹225 crore (29%) from Peninsula Land, and ₹90 crore (12%) from Delta Corp. Peninsula Land will also serve as the exclusive development manager (DM) for all projects under this platform, in partnership with Delta Corp.

This strategic move aligns with PLL’s vision to establish a leadership position in diverse asset classes. The new platform will capitalize on the collective expertise of all stakeholders in project selection, funding, and development, aiming to unlock significant value in the real estate sector. With a robust funding platform and combined capabilities, the initiative is poised to generate substantial returns for its stakeholders.

Peninsula Land, known for its iconic projects such as Ashok Towers, Ashok Gardens, and Peninsula Business Park, boasts a track record of successful real estate developments across major Indian cities. With a portfolio spanning Mumbai, Pune, Bangalore, Lonavala, Nashik, and Goa, PLL has delivered over 10.6 million sq. ft. of real estate, solidifying its position as a trusted name in the industry.

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