The announcement was made after market hours on Tuesday, 9 October 2012.

Meanwhile, the BSE Sensex was down 122.36 points, or 0.65%, to 18,671.

On BSE, 1.38 lakh shares were traded in the counter as against an average daily volume of 49,978 shares in the past one quarter.

The stock hit a high of Rs 54.90 and a low of Rs 50.80 so far during the day. The stock had hit a 52-week high of Rs 56.80 on 5 October 2012. The stock had hit a 52-week low of Rs 27.50 on 15 May 2012.

The stock had outperformed the market over the past one month till 9 October 2012, rising 38.34% compared with the Sensex's 5.88% rise. The scrip had also outperformed the market in past one quarter, gaining 36.28% as against Sensex's 8.06% rise.

The small-cap real estate company has an equity capital of Rs 55.84 crore. Face value per share is Rs 2.

Peninsula Land said the property, measuring approximately 19 acres, is located at Sewree and will be developed for residential purpose.

Peninsula Land net profit declined 16.06% to Rs 41.93 crore on 25.90% rise in net sales to Rs 133.27 crore in Q1 June 2012 over Q1 June 2011.