Peninsula Land Limited's board has approved material Related Party Transactions with Mr. Jaydev Mukund Mody and entities related to him, subject to shareholder approval. The transactions involve the end-to-end development and management of a residential project on property owned by Mr. Mody. This decision, taken on July 14, 2026, aims to facilitate the development of the proposed project on mutually agreed terms and in compliance with applicable laws.

The approval was granted based on the recommendation of the Audit Committee, which met earlier on the same day. The proposed transactions will be executed in accordance with the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Specific details regarding the transactions will be included in the notice convening the ensuing Annual General Meeting to seek shareholder approval.

The board meeting commenced at 04:30 P.M. and concluded at 04:46 P.M. on July 14, 2026. The information has been disseminated on the company's website.

Peninsula Land has launched a plotted development project titled Alibaug ONE in Sogaon, Alibaug, through its Real Estate Platform entity, Prairie Real Estate LLP. The launch is part of the company's business initiatives under a Joint Venture Agreement (JVA) executed on June 24, 2024, aimed at forming a Real Estate Platform with the Real Estate 2.0 Residential Opportunities Fund, a scheme of Alpha Alternatives Special Situations Fund, and Delta Corp. Shareholders had approved this JVA at an Extra-Ordinary General Meeting held on June 03, 2024.

The project is situated on an 11-acre parcel within the Alibaug Crescent corridor and comprises 92 exclusive plots in a gated environment. It offers multiple plot configurations with base plots starting at 2454 sq ft. The project is positioned to provide clear titles and master-planned infrastructure.

Project Details

The Alibaug ONE project is designed as a plotted development targeting buyers seeking co-primary living spaces. The development emphasizes legal clarity and structured infrastructure.

Strategic Context

The launch follows the establishment of the Real Estate Platform pursuant to the JVA. The company stated that the project aligns with its strategy to develop assets in high-growth corridors. The announcement was made to the exchanges under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE138A01028/28a0fb2ad9c64c61.pdf