In a recent development, Delta Corp Limited has revealed a strategic collaboration with Alpha Alternatives Fund Advisors LLP and Peninsula Land Limited. The partnership aims to create a real estate development platform in Mumbai and its surrounding regions.
What Happened: Delta Corp’s board of directors gave the green light to a strategic partnership with Alpha Alternatives Fund Advisors LLP and its affiliates, and Peninsula Land Limited. The collaboration is set to establish a real estate development platform in the Mumbai Metropolitan Region and other areas such as Alibagh, Khopoli, Karjat and Pune.
The platform aims to invest up to ₹765 crore in residential redevelopment and plotted development through one or more entities to be incorporated. Delta Corp said it will continue to invest in the RE Platform in tranches and is expected to invest up to ₹90 crore over three years.
In addition to the partnership, the board also approved the relocation of the company’s registered office within the state from Pune to Mumbai, subject to necessary approvals from members and other statutory authorities.
Why It Matters: This strategic partnership marks Delta Corp’s foray into the real estate development sector. This move could potentially diversify Delta Corp’s business portfolio and open up new avenues of revenue generation.
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