Delta Corp Joins Peninsula Land & AA Group in ₹765 Cr Venture

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Synopsis:

Delta Corp, Peninsula Land, and AA Group form a ₹765 crore real estate platform. Delta contributes ₹90 crore, AA Group ₹450 crore, and Peninsula ₹225 crore. The focus is on residential redevelopment and plotted development in Mumbai and nearby areas.

Delta Corp News Today

Delta Corp Limited partners with Peninsula Land and Alpha Alternatives Fund Advisors in a ₹765 crore real estate platform targeting Mumbai and surroundings. The joint entity will focus on residential redevelopment and plotted development in the Mumbai Metropolitan Region, Alibaug, Khopoli, Karjat, and Pune.

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Investment Breakdown

AA Group leads with ₹450 crore, Delta Corp contributes ₹90 crore, and Peninsula Land invests ₹225 crore into the project. Peninsula Land will provide development management services, leveraging Delta Corp's real estate expertise. Delta Corp commits to non-competing activities within the real estate sector as part of the collaboration.

Financial Arrangements

Delta Corp funds its contribution internally, remaining debt-free while concentrating on core gaming and hospitality businesses. The collaboration aims to unlock real estate value with a focus on project selection and timely execution.

Future Prospects & Commitments

The platform anticipates operating for up to 36 months, with Delta Corp emphasising a continued focus on its core businesses. Delta Corp also emphasises its commitment to remain debt-free, indicating a prudent financial approach amidst its real estate foray.

Sources:

https://www.cnbctv18.com/market/delta-corp-share-price-765-crore-real-estate-platform-peninsula-land-mmr-redevelopment-plot-19408415.html

Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.

This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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