Peninsula Land Ltd

Financial results approved

• Unaudited standalone and consolidated results for quarter ended June 30, 2026 approved.
• Limited Review Reports by the statutory auditor submitted with the results.

Key financial highlights

• Standalone Jun-26 total income: Rs 2,537 lakh; PAT: Rs (605) lakh.
• Standalone exceptional item: reversal/impairment of loans to subsidiaries, JVs, and associates Rs 195 lakh.
• Consolidated Jun-26 total income: Rs 2,639 lakh; PAT: Rs (772) lakh; exceptional item: Rs 250 lakh.

Auditor's review status

• Independent auditor SRBC&COLLP concluded no material misstatement in interim results.

Regulatory/compliance context

• Statements prepared under SEBI LODR Regulation 33.

AGM Details

• Date and time: 27 August 2026, 03:00 PM.
• Mode: VC/OAVM.

Voting Window

• Voting eligibility cut-off: 20 August 2026.
• Remote e-voting: 23-26 August 2026, 09:00 AM to 05:00 PM.

Notice Access

• Notice and Annual Report sent electronically to members.
• Annual Report accessible via company website.

Meeting Details

• Board meeting scheduled for August 12, 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.

Other Notes

• Trading window closed from July 1, 2026 to 48 hours after results declaration.

Related Party Transaction with JMM

• Board approved material Related Party Transaction with Mr. Jaydev Mody, subject to shareholder approval.
• Transaction covers end-to-end development and management of a residential project on property owned by JMM.
• Details and information will be provided to shareholders in the AGM notice seeking approval.
• Terms to be mutually agreed and in compliance with applicable laws.
• Shareholder approval to be sought at the ensuing AGM.

Dematerialisation processing and listing status

• Dematerialisation requests received during quarter ended June 2026 were processed and confirmed to depositories.
• Securities dematerialised have been listed on the stock exchanges where the earlier issues are listed.
• Physical certificates received for dematerialisation were mutilated, cancelled after verification; depository name substituted as registered owner within timelines.

Alibaug ONE launch

• Launched 'Alibaug ONE' plotted development on an 11-acre site in Sogaon, Alibaug via Prairie Real Estate LLP.
• Part of Joint Venture Agreement dated June 24, 2024; shareholders approved on June 3, 2024.
• JV comprises Real Estate 2.0 Residential Opportunities Fund (Alpha AIF) and Delta Corp Limited.
• Project size: 11-acre parcel with 92 exclusive plots; base plots from Rs 2.39 crore.
• Located within 20 minutes of Mandwa Jetty, in the Alibaug Crescent corridor.
• Promotional media release enclosed; disseminated on Peninsula's website.

Action

• CARE Ratings withdrew the long-term bank facilities rating on PLL.
• Prior rating: CARE BB+; Stable, before withdrawal.
• No active PLL rating remains.
• Instrument: Long-term bank facilities; previously CARE BB+; Stable.

Rationale and risks

• Two tenants occupy 100% of leasable area; top tenant accounts for over 70% of rentals.
• Lease renewals expire August 2026; renewal risk to cash flows.
• Delays in rent receipts and renewals pressure cash flows.
• Promoters are experienced; Parel location; occupancy track record.
• Escrow mechanism and DSRA reduce debt service risk.
• Liquidity stretched despite DSRA and escrow; free cash ₹24 crore.
• PHIPL exposure ₹102 crore fully provided; CIRP uncertainty for HIPDPL.
• Redemption of ₹150 crore optional convertible debentures completed Dec 2025.
• Partly financed by ₹112.5 crore NCD redemption and internal accruals.
• Gearing at 6.80x; PBILDT interest coverage below unity FY26.
• Revenue recognition impacted by OC delays; real estate segment weak in FY26.

Outlook and changes

• Outlook: Stable.
• Material change: Rating withdrawn; no active PLL rating.

Financials

• FY26 net loss rose to ₹153.68 crore; FY25 loss ₹25.27 crore.
• Total operating income declined to ₹141.25 crore in FY26 from ₹241.65 crore in FY25.
• Gearing rose to 6.80x by March 31, 2026.
• PBILDT/interest coverage remained below unity in FY26.
• DSRA maintained; escrow reduces fund leakage.