Peninsula Land Deal With Alok

Real estate firm Peninsula Land struck a deal to sell 5,75,000 square feet of land at its Dawn Mills premises to Alok Infrastructure, a unit of Alok Industries for Rs 1050 crore. ENAM has a BUY on Peninsula Land with a price target of Rs 719.

Peninsula Land (PLL), formerly known as Morarjee Realties, is known for its concept-based architecture in the commercial, retail and residential sectors. Some of the company’s real-estate projects are Crossroads, CR2, Peninsula Corporate Park, Peninsula Technopark, Peninsula Business Park, Ashok Towers and Ashok Gardens.