Delta Corp. unveils entry into real estate through joint venture with Peninsula Land

In an effort to get into the real estate market, Peninsula Land and Delta Corp., an Indian operator of casinos, have established a strategic joint venture.

Delta is the main investor in the joint company, with an initial financial commitment of 250 crore INR. The cornerstone of this venture is the promoter’s substantial 35-year expertise in the real estate sector, along with Delta’s track record of successfully executing and reaping the benefits of several past projects.

In a filing, Delta Corp. emphasized the Indian real estate market’s development potential while also highlighting the sector’s consolidation in response to tighter regulations, rising consumer demand, and a desire for recognizable and well-known brands. The corporation intends to concentrate its real estate endeavors mostly on Mumbai and Goa, since they have reserves and cash flows, after a project in Goa was canceled.

Delta’s joint venture partner, Peninsula Land (PLL), has more than 22 years of expertise in real estate development. PLL brings a great deal of value to the partnership with 19 projects under its belt and two more in the pipeline.

With excitement for the project, Mr. Jaydev Mody, Chairman of Delta Corp., said, “Today, India’s real estate sector is poised for growth and presents attractive opportunities to businesses.” He underlined that because of its strategic partnership with PLL, Delta is well-positioned to gain from the predicted growth of the Indian real estate industry.

Delta Corp. is well recognized for its gaming activities; it oversees two land-based casinos in Nepal and Sikkim, three offshore casinos, and an internet poker room. The company’s objective of diversification and development is linked to its foray into the real estate industry, which makes use of its multifaceted skills and assets.

Original story by: Asia Gaming Brief