Peninsula Land gains after receiving funds from property sale

Peninsula Land rose 2.48% to Rs 31.05 at 15:06 IST on BSE after the company said it has received Rs 200 crore from sale of property situated in Mamurdi Village in Pune district.

The announcement was made during market hours today, 18 October 2017.

Meanwhile, the S&P BSE Sensex was down 20.07 points, or 0.06% to 32,589.09. The S&P BSE Small-Cap index was down 4.62 points, or 0.03% to 17,061.53.

On the BSE, 6.92 lakh shares were traded in the counter so far, compared with average daily volumes of 2.77 lakh shares in the past one quarter. The stock had hit a low of Rs 29.55 so far during the day. The stock had hit a 52-week high of Rs 32.20 in intraday trade today, 18 October 2017. The stock had hit a 52-week low of Rs 13.15 on 27 December 2016.

The small-cap company has equity capital of Rs 55.84 crore. Face value per share is Rs 2.

Peninsula Land said that the company has received Rs 200 crore out of the total consideration of Rs 226 crore. On 29 September 29, 2017, the company had informed about the sale of property of the company situated in Village Mamurdi, Taluka Haveli, in Pune district to Godrej Skyline Developers.

Peninsula Land reported net loss of Rs 31.26 crore in Q1 June 2017 as against net profit of Rs 1.54 crore in Q1 June 2016. Net sales rose 210.57% to Rs 75.25 crore in Q1 June 2017 over Q1 June 2016.

Peninsula Land is an integrated real estate company. The company's projects include pioneering retail ventures, world-class commercial projects and residential complexes.

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