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Peninsula Land reports Q3 profit of Rs 103 cr
Rajeev Piramal, Vice Chairman and Managing Director of Peninsula Land, commented on the Q3 results, stating " Our strategic initiatives to reduce debt, complete our obligations to all the stakeholders and raise fresh capital to fuel further growth have all yielded great outcomes which is reflecting in our financial results as well. Our core market of MMR is undergoing a strategic change with focus shifting from development to re-development, primarily aided by the scarcity of land parcels for fresh development and various societies/land parcels opting to go for the redevelopment route by leveraging the additional incentives/opportunities offered by DCPR 2034. We have been able to raise fresh capital in the last quarter to enable us to leverage these opportunities and propel us towards future growth.
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