MoneyWorks4Me

Peninsula Land buys defunct mill in Byculla for Rs 650 crore: Report

16 May 2014 Evaluate
Peninsula Land has reportedly purchased a defunct mill in Byculla, a Mumbai suburb for Rs 650 crore from joint owners Mahindra Lifespaces and the Kanoria family. The company is planning to develop a residential property over the land once all the approvals are in place, over the next 12 to 18 months.

The company has funded the acquisition through its internal accruals and funds from its private equity partner.

Peninsula Land is known for its concept-based architectures in the commercial, retail and residential sectors. The company is also known for its professional corporate management, international landmarks and value additions.

 

Peers
Company Name CMP
Lodha Developers 1142.75
Prestige EstatesProj 1469.80
Dilip Buildcon 421.10
DLF 656.50
Oberoi Realty 1822.75
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