Mumbai-based real estate developer Peninsula Land gained 5.3% on Friday against the half-a-per cent rise in the Realty Index. The stock rose
after the company announced that it received Rs 275 crore as part payment of a Rs 1,100-crore sale transaction.
The stock has gained about 197% year-to-date against 69% surge in the Sensex and 59% in the ET Realty index.
Peninsula has a strong presence in upmarket south Mumbai and believes in strengthening its own geographic area rather than attempting a pan-India reach. Currently, two residential and two commercial projects are under construction with a saleable area of four million sq ft.
More : economictimes.indiatimes.com
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