Peninsula Land reports Q3 profit of Rs 103 cr

13 Feb 2024 CW Team

Peninsula Land has announced its financial results for the quarter ended December 31, 2023. The company reported a consolidated profit after tax (PAT) of Rs 103 crore for the nine-month period, a 125 per cent increase over the similar period last year. The consistent focus on debt reduction resulted in the overall debt reduction by 57 per cent to Rs 248 crore, which largely consists of LRD debt backed up by a steady rental income from a leased commercial asset.

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.

Infrastructure Transport

17 Oct 2025

Sonowal Unveils Eight Projects at NMPA’s Golden Jubilee

Union Minister for Ports, Shipping and Waterways, Shri Sarbananda Sonowal, inaugurated the Curtain Raiser Ceremony of the Golden Jubilee Celebrations of the New Mangalore Port Authority (NMPA) at Bharat Mandapam. To commemorate the milestone, he unveiled eight major maritime infrastructure projects designed to strengthen India’s port network, enhance logistics performance, and promote sustainability. These include a modern cruise terminal, new covered storage facilities, a 150-bed multi-speciality hospital, expanded truck terminals, and improved port access infrastructure aimed at enhancing..

India To Boost US LPG Imports, Cut Middle East Reliance

India is planning to reduce imports of liquefied petroleum gas (LPG) from the Middle East as state-owned refiners prepare to ramp up purchases from the United States, according to sources familiar with the matter. The move aligns with New Delhi’s efforts to expand energy cooperation and secure a broader trade deal with Washington. State refiners have already notified their traditional LPG suppliers in Saudi Arabia, the United Arab Emirates, Kuwait and Qatar of the potential reduction in imports. Although the exact size of the supply cut was not disclosed, earlier reports suggested that Indi..

UK Sanctions Nayara Energy in Crackdown on Russian Oil

The United Kingdom has announced fresh sanctions on 90 entities, including Indian refiner Nayara Energy Limited, in its latest bid to curb Russian oil revenues and weaken President Vladimir Putin’s war funding. The sanctions, unveiled jointly by the Foreign, Commonwealth and Development Office (FCDO) and the UK Treasury, aim to disrupt networks supporting Moscow’s crude exports amid the ongoing war in Ukraine. According to the FCDO, the new restrictions are intended to “strike at the heart of Putin’s war funding” by targeting firms and assets that enable Russia’s energy trade. “..