Peninsula Land Ltd, the Ashok Piramal-backed real estate company, is diversifying into integrated townships and information technology parks in Pune, Nashik and Hyderabad.

It also plans to enter Ahmedabad, Chennai, Mysore, Bangalore and Coimbatore by next year.

Peninsula is developing five projects, which includes one residential and one township project in Nashik, and integrated townships and IT Parks in Pune and Hyderabad.

The total developable area for these projects is approximately 21 million sq ft, which is expected to be operational by second quarter of 2013.

A source familiar with the development told DNA Money the Nashik project would be launched next month and Pune will follow in August, while Hyderabad will begin in the third quarter 2008.

“They are extensively planning projects in the south where the market is still buoyant,” the source said

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