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Realty sector slowdown: Rise and fall of Ashok Piramal's Peninsula Land


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Peninsula Land, promoted by Ashok Piramal Group, had many firsts to its credit. It built Crossroads in South Mumbai, which was the country’s first mall. It developed Peninsula Corporate Park — one of the first mill lands in Mumbai to get converted into a corporate complex.

It also has real estate funds with Brookfield of Canada, thus, becoming one of the first companies to start a trend of real estate company co-investing with a global fund manager. But all these were in the good old days. The slowdown in the real estate sector has hit the company hard ...


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