In a city defined by reinvention, Rajiv Piramal stands as one of its foremost architects. As vice chairman and managing director of Peninsula Land, the real estate arm of the storied Piramal Group, he has carved a legacy not just in luxury, but in large-scale urban transformation. Part of a storied business dynasty, Rajiv has steered Peninsula Land to become a specialist in a high-stakes game: Converting Mumbai’s vast, defunct textile mill lands into glittering, high-value commercial and residential landmarks. This strategic focus is the company’s defining USP, making it a pivotal force in reshaping the city’s very fabric.
After completing his education in business management, Rajiv took the helm of Peninsula Land, which was established in 1871 as a textile mill. His vision involved a decisive pivot from textiles to real estate, recognising the immense latent value in the company’s prime industrial land holdings. This foresight allowed Peninsula Land to become a pioneer in reimagining central Mumbai. While the company has a market capitalisation of approximately ₹3,000 crore, its true value lies in its iconic, market-defining projects that have become benchmarks for quality and design.
Peninsula is redefining luxury by creating self-sufficient, premium ecosystems on an epic scale. Its landmark projects, Ashok Towers and Ashok Gardens in Parel, were groundbreaking developments that transformed the once-industrial area into a coveted residential hub for the city’s elite. These projects were among the first to offer a complete lifestyle with extensive amenities like clubhouses, sports facilities and vast green spaces. “Our philosophy is to create properties that are not just addresses, but landmarks that enhance the life of a community,” Rajiv has often stated.
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This approach ensures that a Peninsula property is a legacy asset. The company’s financial strategy, focusing on developing its prime land assets, has ensured a strong balance sheet and consistent value creation for stakeholders.
Its projects are known to be the preferred choice for a clientele that values legacy and substance over fleeting trends Rajiv’s forward-looking vision is crystallised in projects like the ultra-modern Salsette 27 in Byculla. The project redefines luxury for a new generation, offering sleek, world-class architecture and panoramic views of the city and sea, while paying homage to the area’s rich heritage. It represents the next chapter in the company’s evolution, blending its legacy of trust with cutting-edge innovation. Piramal’s journey is a masterclass in converting industrial heritage into modern luxury, proving that the most enduring empires are built on a foundation of vision, quality, and the courage to transform.
First Published: Oct 16, 2025, 16:42
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