Peninsula Land Ltd

Peninsula Land Ltd

Peninsula Land Limited (PLL) the real estate arm of the brand Peninsula under the group of Ashok Piramal Group was incorporated on 10th August 1871 as a textile unit in the name of The Morarjee Goculdas Spinning & Weaving Company Limited. PLL is known for its concept based architectures in the commercial retail and residential sectors. The commercial projects of the company are undergone in the brand name of Peninsula retail and residential real estate is in under the brand names of Crossroads and Ashok respectively. The echo of PLL professionalism and expertise can be felt through the new-age creations such as Crossroads CR2 Peninsula Corporate Park Peninsula Technopark Peninsula Business Park Ashok Towers and Ashok Gardens. Diversifying further its domain Peninsula is developing 3 Special Economic Zones (SEZ) in Goa. Ashok Piramal Group made its entry into the real estate sector in the year 1997 from there all the real estate developments of Peninsula are carried under this flagship company namely PLL. In January of the year 2004 the name of the company was changed from Morarjee Goculdas Spinning & Weaving Company Limited to Morarjee Realties Limited. The Company had launched the project named Ashok Towers in the period of 2004-05 and it had grate success. The merger of Piramal Holdings Limited and Morarjee Realties Limited in April of the year 2005 was the reason for the formation of Peninsula Land Limited. PLL had successfully completed two of its prestigious projects in 2005-06 namely Peninsula Plaza and Bayside Mall. In 2006 Peninsula had entered into the real estate investment arena with Peninsula Realty Fund. During the year 2006-07 the company had acquired 100 acres of land in Pune for the development of an IT SEZ. During the same year as a part of expansion strategy to be a major developer in India the company had opened regional offices in Goa and Pune and had acquired land Goa Nasik and Pune. PLL had inked Rs 12 billion property deal with Essar Realty Holdings in January 2008 to sell and lease premises at its upcoming IT park named Peninsula Technopark on LBS Marg in Kurla (Mumbai). The Company plans to build two residential projects in Nashik on 112 acres of land Peninsula Tech City on 100 acres in Pune would be constructed in two phases and eventually add an integrated township. The company has already tied up with Leela Ventures to develop the seven-storey commercial project in Nagpur spread across 0.5 acres Goa SEZ Peninsula Life centre will come up on 30 acres of land and 31 acre Hyderabad SEZ called Peninsula Technology Park would be a combination of processing and non-processing zones.