Delta Corp Ventures into Real Estate: An Insight into the Rs 765 Crore Mumbai Redevelopment Platform
Delta Corp, known for its prowess in gaming and hospitality, has embarked on a new journey in the realm of real estate. The company, in collaboration with Alpha Alternatives Fund Advisors LLP (AA group) and Peninsula Land, is spearheading a significant real estate development initiative in the Mumbai Metropolitan Region (MMR).
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Key Highlights:
- Strategic Partnership: Delta Corp has forged a strategic partnership with AA group and Peninsula Land to establish a real estate development platform focusing on residential redevelopment in MMR and plotted development in surrounding areas like Alibagh, Khopoli, Karjat, and Pune.
- Substantial Investment: With a total investment of Rs 765 crore, this venture underscores a commitment to substantial growth in the real estate sector. Delta Corp will contribute Rs 90 crore (11.76%), while AA group and Peninsula Land will invest Rs 450 crore (58.82%) and Rs 225 crore (29.42%), respectively.
3.Development Management:Peninsula Land will take on the role of the development manager for projects undertaken by the platform entities, ensuring efficient execution and management of the ventures.
- Diversification Strategy: This move reflects Delta Corp's strategic approach to diversify its business portfolio while leveraging its strong financial position. Despite focusing on gaming and hospitality as core businesses, the company aims to capitalize on lucrative opportunities in real estate development.
- Financial Outlook: Delta Corp remains committed to its offline business expansion plans, aiming for a profit margin of at least 38% over the next two years. However, its online gaming expansion plans have been put on hold following the GST rate hike to 28%.
Delta Corp's foray into real estate marks a significant milestone in its journey towards business expansion and diversification. With a robust investment platform and strategic partnerships in place, the company is poised to make a meaningful impact in the dynamic real estate landscape of the Mumbai Metropolitan Region and beyond.
Posted by houzyy news desk on May 13, 2024
