Peninsula Land has entered into a Securities Purchase Agreement to acquire 86% of the Equity Shares of Rockfirst Real Estate thereby making it a wholly-owned subsidiary of the Company. Further the Company has also, through its wholly-owned subsidiary Peninsula Holding and Investment (PHIPL) entered into Securities Purchase Agreements to acquire 86% Equity shares of Goodhome Realty and Truewin Realty thereby making them step-down wholly-owned subsidiariesof the Company.

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The announcement was made during market hours today, 28 December 2018.

Meanwhile, the S&P BSE Sensex was up 258.68 points, or 0.72% to 36,065.96

On the BSE, 5.70 lakh shares were traded in the counter so far as against average daily volume of 90,000 shares in the past two weeks. The stock had hit a high of Rs 12.10 and a low of Rs 11.17 so far during the day.

Peninsula Land said that the company has entered into a Securities Purchase Agreement to acquire 86% of the equity shares of Rockfirst Real Estate thereby making it a wholly-owned subsidiary of the company. Further the company has also, through its wholly-owned subsidiary Peninsula Holding and Investment Private (PHIPL) entered into Securities Purchase Agreements to acquire 86% equity shares of Goodhome Realty and Truewin Realty thereby making them step-down wholly-owned subsidiaries of the company.

Peninsula Land is an integrated real estate company. The company's projects include pioneering retail ventures, world-class commercial projects and residential complexes.

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Net Loss of Peninsula Land reported to Rs 127.83 crore in the quarter ended September 2018 as against net loss of Rs 51.03 crore during the previous quarter ended September 2017. Sales declined 8.31% to Rs 6.07 crore in the quarter ended September 2018 as against Rs 6.62 crore during the previous quarter ended September 2017.

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Peninsula Land will hold a meeting of the Board of Directors of the Company on 14 November 2018.

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