Delta Corp will hold a meeting of the Board of Directors of the Company on 7 May 2024.Powered by Capital Market - Live News

Delta Corp announced the  divestment of its holding involving its 100% subsidiary, Caravella Entertainment (CEPL). CEPL in turn holds an 89.286% stake in Deltin Nepal (DNPL). The divestment represents an enterprise value of Rs 80 crore comprising of Rs 18 crore of parent debt and Rs 62 crore of equity value on a nominal investment of  Rs 1 lakh equity. The stake sale aligns with DCL`s vision to optimize its portfolio and enhance shareholder value. Powered by Capital Market - Live News

Net profit of Delta Corp declined 59.35% to Rs 34.48 crore in the quarter ended December 2023 as against Rs 84.82 crore during the previous quarter ended December 2022. Sales declined 15.23% to Rs 231.74 crore in the quarter ended December 2023 as against Rs 273.37 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales231.74273.37 -15 OPM %24.0737.43 - PBDT65.70111.23 -41 PBT49.6896.35 -48 NP34.4884.82 -59 Powered by Capital Market - Live News

Delta Corp will hold a meeting of the Board of Directors of the Company on 9 January 2024.Powered by Capital Market - Live News

Delta Corp has decided to make a strategic investment of Rs 99,99,88,000 in Peninsula Land (PLL) which will issue 1,50,00,000 equity shares and 77,27,000 CCDs at Rs 44. Furthermore, a joint venture is envisaged to be established between Delta & PLL with a capital outlay of Rs 250 crore where Delta will be a majority stakeholder. This JV will help Delta expand into the sector.The need for expansion in the real estate sector stems from the fact that Delta has in the past successfully executed several projects and exited profitably coupled with its promoter having over 35 years of experience in this industry. Considering that Delta`s flagship project at Dhargalim, Goa has been deferred and given its free reserves and cash flows, the company sees a compelling opportunity for long term growth in this sector. Delta, being the majority stakeholder, through its JV proposes to execute projects mainly in Mumbai and Goa and will continue with its philosophy of running a debt free company. Powered by Capital Market - Live News