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

Peninsula Land reported a widened standalone net loss of ₹1,536.8 crore for the financial year ended March 31, 2026, primarily driven by exceptional items. The real estate developer's revenue from operations declined to ₹141.25 crore for the year, compared to ₹241.65 crore in the previous year.

Financial Performance for FY26

The company recorded a total income of ₹169.07 crore for the year, down from ₹262.84 crore in FY25. The bottom line was significantly impacted by exceptional items amounting to ₹1,402.5 crore, largely attributed to the impairment of loans to subsidiaries, joint ventures, and associates. Consequently, the net loss for the year widened to ₹1,536.8 crore from a loss of ₹252.7 crore in the prior year.

Quarterly Performance and Exceptional Items

For the quarter ended March 31, 2026, the standalone net loss stood at ₹118.58 crore, with revenue at ₹40.26 crore. The exceptional items for the quarter included an impairment of ₹1,224.5 crore related to loans to subsidiaries, joint ventures, and associates. This impairment was necessitated by the initiation of the Corporate Insolvency Resolution Process (CIRP) against M/s. Hem Infrastructure and Property Developers Private Limited (HIPDPL) by the National Company Law Tribunal (NCLT) in July 2025.

Corporate Governance and Board Decisions

The Board of Directors, in its meeting held on May 29, 2026, approved the audited financial results for the quarter and year ended March 31, 2026. Additionally, the Board approved the re-appointment of Mr. Pawan Swamy as an Independent Director for a second term effective November 11, 2026, subject to shareholder approval. Mr. Nandan A Piramal was re-designated from Whole-time Director to Managing Director designated as Joint Managing Director, effective May 29, 2026, also subject to shareholder approval. The Board also appointed M/s. Aneja Assurance Private Limited as the Internal Auditor for the financial year 2026-2027.

The statutory auditors, M/s. S R B C & Co LLP, issued an unmodified opinion on the standalone and consolidated financial results.