Peninsula Land records 362% jump in April-June net profit at Rs 60 crore
Peninsula Land has reported a 362% year-on-year growth in consolidated net profit of Rs 60 crore for the quarter ended June. Revenue for the quarter stood at Rs 188 crore.
The Ashok Piramal Group company has reduced its consolidated debt to Rs 339 crore as of June end as against Rs 727 crore a year ago. “Our performance in the first quarter aligns with our FY24 forecasts.
We have given possession of 617 flats in 2022-23 across Mumbai, Pune and Bangalore and we are actively working on delivering over 1,500 apartments and plots in 2023-24,” said Rajeev Piramal, Vice Chairman and Managing Director, Peninsula Land. According to him, the company is exploring avenues for the next phase of growth including launching new developmental phases within its existing land parcels and expanding land portfolio through collaborative joint development strategies.The company has delivered over 10.6 million sq.
ft. of real estate across key Indian property markets including Mumbai, Pune, Bangalore, Lonavala, Nashik, and Goa.
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