Peninsula Land Limited (PLL), the real estate arm of the brand Peninsula under the group of Ashok Piramal Group was incorporated on 10th August 1871 as a textile unit in the name of The Morarjee Goculdas Spinning & Weaving Company Limited. PLL is known for its concept based architectures in the commercial, retail and residential sectors. The commercial projects of the company are undergone in the brand name of Peninsula, retail and residential real estate is in under the brand names of Crossroads and Ashok respectively. The echo of PLL professionalism and expertise can be felt through the new-age creations such as Crossroads, CR2, Peninsula Corporate Park, Peninsula Technopark, Peninsula Business Park, Ashok Towers and Ashok Gardens. Diversifying further its domain, Peninsula is developing 3 Special Economic Zones (SEZ) in Goa.
Ashok Piramal Group made its entry into the real estate sector in the year 1997, from there, all the real estate developments of Peninsula are carried under this flagship company namely PLL. In January of the year 2004, the name of the company was changed from Morarjee Goculdas Spinning & Weaving Company Limited to Morarjee Realties Limited. The Company had launched the project named Ashok Towers in the period of 2004-05, and it had grate success. The merger of Piramal Holdings Limited and Morarjee Realties Limited in April of the year 2005 was the reason for the formation of Peninsula Land Limited. PLL had successfully completed two of its prestigious projects in 2005-06 namely Peninsula Plaza and Bayside Mall. In 2006, Peninsula had entered into the real estate investment arena with Peninsula Realty Fund. During the year 2006-07, the company had acquired 100 acres of land in Pune for the development of an IT SEZ. During the same year, as a part of expansion strategy to be a major developer in India, the company had opened regional offices in Goa and Pune and had acquired land Goa, Nasik and Pune. PLL had inked Rs 12 billion property deal with Essar Realty Holdings in January 2008, to sell and lease premises at its upcoming IT park named Peninsula Technopark on LBS Marg in Kurla (Mumbai).
In 2010, the Company completed residential project Ashok Towers at Parel, Mumbai and launched residential projects at Betim in Goa and Nasik in Maharashtra. In 2012, it completed Ashok Gardens residential, Peninsula Business Park and Peninsula Technopark commercial in Mumbai. In 2013, it embarked on a joint venture with Brookfield, Canada, for real estate fund management. It acquired New Great Eastern Mill land in Byculla in 2014. It launched a new project in Mumbai, namely Project Code NGE in Byculla in 2016. It launched the prestigious Salsette 27 project in Central Mumbai in Byculla in 2016-17. It completed the first phase of Ashok Meadows in Pune and Ashok Astoria in Nashik in 2017.
Goodhome Realty Limited, Rockfirst Real Estate Limited, RR Mega City Builders Limited and Truewin Realty Limited became the subsidiaries of the Company in FY 2018-19. Peninsula Heights, Bishopsgate and Carmichael Residences projects got completed in 2018-19. To tap demand for affordable housing, Peninsula Land launched addressOne, comprising 600 units residential project in Gahunje, Pune in Q4 of FY 2018-19. The first phase of the project was launched in Q1 of FY 2018-19, with 900 units.
The Company launched AshokVann (Pune) a plotted development new project in 2023. It completed the residential projects comprising of Celestia Spaces and Ashok Nirvaan in 2023.