May 31, 2023: Real estate developer Peninsula Land today announced its financial results for the quarter and financial year ended March 31, 2023. During the financial year, the company witnessed a 130% YoY increase in total revenue, which rose from Rs 452 crore in FY22 to Rs 1,039 crore in FY23. The total revenue for Q4 FY23 stood at Rs 151 crore as against Rs 104 crore in Q4FY22, up by 46% YoY.
The company’s profit after tax (PAT) increased to Rs 101 crore in FY23 as against the loss of Rs 108 crore incurred in FY22. As on March 31, 2023, the consolidated debt has reduced to Rs 424 crore from a peak of Rs 2,373 crore in March, 2019.
Rajeev Piramal, VC and MD, Peninsula Land, said, ““Despite the difficulties caused by the Covid crisis, Peninsula Land has sold about 2.4 million square foot (msf) over the past five years, offered possession of about 700 residences across the affordable, luxury and ultra-luxury product groups and decreased debt by over 80%.
“Additionally, the business plans to provide over 1,000 homebuyers possession in FY24. We have built and sold homes ranging in price from Rs 20 lakh in the affordable category to Rs 50 crore in the super luxury category across the segments of apartments, row houses, plots and villas in the residential sector,” he added.
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