Delta Corp Limited’s shares were up by 0.33 per cent after the company announced its intention to establish a real estate development platform in collaboration with Alpha Alternatives Fund Advisors LLP (AA Group) and Peninsula Land Limited.
The platform aims to focus on residential redevelopment projects in the Mumbai Metropolitan Region and plotted developments in and around Mumbai, Alibaug, Khopoli, Karjat, and Pune.
The proposed funding for the platform is up to ₹765 crore, with contributions from AA Group, Peninsula Land Limited, and Delta Corp. Peninsula Land Limited will also provide development management services to the platform. The company also informed, “Our focus however remains on our core businesses of gaming and allied hospitality with majority of our capex and investments being made to expand our core business.”
The shares were up by 0.33 per cent to ₹120.60 at 1.35 pm on the BSE.