Peninsula Land Ltd, a Mumbai-based real estate developer and part of the diversified Ashok Piramal Group, has received a sum of Rs 275 crore from Alok Realtors Pvt Ltd, which bought 6.41 sq feet space at Peninsula’s business park in Mumbai’s Lower Parel area.
The total value of the deal is Rs 1,100 crore and, so far, Peninsula has received a sum of Rs 465 crore from Alok Realtors, it said in its filing to the BSE.
Peninsula Land is present across the real estate spectrum including residential, commercial and retail. It develops residential projects under the brand name ‘Ashok’ and its commercial projects are branded as ‘Peninsula’. The company forayed into retail real estate with Crossroads mall.