Peninsula Land reports Q2 loss amidst legal challenges at joint venture

Peninsula Land Limited reported a standalone net loss of INR 2,527 lakhs and a consolidated net loss of INR 3,639 lakhs for the half-year ended September 30, 2025. These unaudited financial results were approved by the board on November 12, 2025.

A key factor in these losses is the National Company Law Tribunal's (NCLT) Corporate Insolvency Resolution Process (CIRP) against Hem Infrastructure and Property Developers Private Limited (HIPDPL), a joint venture. Peninsula Land's exposure in HIPDPL amounts to INR 9,615 lakhs in standalone results and INR 9,184 lakhs in consolidated results as of September 30, 2025. Auditors SRBC & Co LLP issued a qualified conclusion because the recoverable value of these investments cannot be assessed due to the NCLT proceedings.

Peninsula Land continues to pursue all legal and commercial remedies to safeguard its investments. The company also converted 77,27,000 0% Unsecured Compulsorily Convertible Debentures into equity shares at INR 44 per share on April 16, 2025.