Peninsula Land has announced the acquisition of a 29.42% stake in Zenithvista Real Estate LLP, marking a significant strategic move in the Mumbai real estate market. The acquisition positions the company as a key stakeholder in an upcoming redevelopment project in the financial capital.

Strategic Partnership Structure

The redevelopment project involves multiple stakeholders, with Peninsula Land joining forces with Alpha AIF and Delta Corp. This multi-party collaboration demonstrates a structured approach to the Mumbai redevelopment opportunity.

Mumbai Redevelopment Focus

The acquisition aligns with Peninsula Land's strategy to participate in Mumbai's redevelopment sector. The partnership with Alpha AIF and Delta Corp brings together different expertise and resources for the project execution.

Investment Implications

This strategic acquisition expands Peninsula Land's portfolio in the Mumbai real estate market through the Zenithvista Real Estate LLP platform. The 29.42% shareholding provides the company with significant influence in the project's development and execution phases.

Peninsula Land Limited has successfully completed the full redemption of its Optionally Convertible Debentures (OCDs), marking a significant milestone in the company's debt management strategy. The real estate developer has now fully redeemed all OCDs worth ₹150.00 crore issued under the OCD Subscription Agreement dated June 24, 2024.

Complete OCD Redemption Achieved

The company announced on December 23, 2025, through its official intimation to stock exchanges under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that it has completed the redemption of Tranche B OCDs comprising 66,37,168 debentures aggregating to ₹37.50 crore. This follows the earlier redemption of Tranche A OCDs worth ₹112.50 crore, which was completed in December 2025. All obligations related to both tranches have been fulfilled and discharged in accordance with the terms of the OCD Subscription Agreement.

OCD Redemption Summary

Board Changes Following OCD Redemption

As a direct consequence of the complete OCD redemption, significant changes have occurred in the company's board composition. According to the terms of the OCD Subscription Agreement, RE2.0 Residential Opportunities Fund has ceased to have the right to appoint a Nominee Director on the Board following the full redemption.

Director Cessation Details

Mr. Hrishikesh Parandekar (DIN: 01224244) ceased to be a Director of the company with effect from December 23, 2025, from the close of business hours. This change was automatic and in accordance with the predetermined terms of the OCD agreement.

Strategic Financial Management

The successful completion of the entire OCD redemption demonstrates Peninsula Land's commitment to effective financial management and debt resolution. The company has fulfilled all its obligations ahead of the January 8, 2026 deadline that was originally set for Tranche B redemption. This proactive approach in managing financial instruments reflects positively on the company's operational efficiency and financial discipline.

The completion of this substantial financial obligation totaling ₹150.00 crore represents a significant step in Peninsula Land's capital structure optimization. With all OCDs now fully redeemed, the company has cleared this major financial commitment, potentially strengthening its balance sheet and providing greater financial flexibility for future operations and growth initiatives.