The company has been making operating losses for the past three years, thereby struggling to pay interest charges. : 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.