Peninsula Land, a part of the Ashok Piramal Group, has acquired 40 acres of land—11 acres in Sogaon, Alibaug, and 29 acres in Bhilawale, Karjat—marking its entry into the plotted development segment in high-demand micro-markets near Mumbai.

The company plans to develop premium plotted communities featuring modern infrastructure, curated amenities, and a secure living environment, targeting NRIs, domestic investors, second-home buyers, and urban families seeking lifestyle upgrades or luxury holiday homes. "This marks the first deployment of capital from our real estate platform and represents a focused commitment to growing our plotted development business," said Rajeev Piramal, CEO and Managing Director of Peninsula Land.

The land acquisition is the initial investment from Peninsula's newly launched Rs 765-crore real estate platform in partnership with Alpha Alternatives and Delta Corp. The launch of the projects is expected to align with the upcoming festive season. The move comes amid a surge in demand for land within driving distance from Mumbai, boosted by improved connectivity. Peninsula joins a list of developers such as Lodha, Oberoi Realty, Hiranandani, Mahindra Lifespaces, and HoABL that are expanding in the Alibaug-Karjat region.