Peninsula Land, Delta Corp & AA Group start Rs 7.65 bn realty platform

13 May 2024 CW Team

The newly formed entity will focus on two key areas: residential redevelopment within the Mumbai Metropolitan Region (MMR) and plotted development in areas surrounding Mumbai, including Alibaug, Khopoli, Karjat, and Pune.

AA Group will contribute the majority share, investing up to Rs 4.5 billion through its affiliates, including Arsenio Strategies and its managed funds. Peninsula Land and Delta Corp will invest Rs 2.25 billion and Rs 900 million respectively. Additionally, Peninsula Land will leverage its expertise by providing development management services for the platform.

?This new platform will leverage the combined expertise of all parties in project selection, funding and development to unlock the value that exists in real estate today, especially for companies that have a track record of project delivery and the necessary financial resources to execute them in a timely manner,? said Rajeev Piramal, VC & MD, Peninsula Land.

Beyond financial investment, Delta Corp will bring its real estate expertise to the table. Their contribution will be particularly valuable in selecting and developing projects undertaken by the platform.

Separately, Peninsula Land has secured Rs 1.5 billion through optionally convertible debentures issued to AA Group's Arsenio Strategies. This funding bolsters Peninsula Land's financial position.

In November 2023, Delta Corp had planned a separate joint venture with Peninsula Land, with Delta Corp holding a majority stake. However, with the formation of this larger platform, Delta Corp has decided to forego the earlier joint venture agreement. They believe the new platform offers a more prominent and financially prudent approach, while still allowing them to collaborate with Peninsula Land.

Delta Corp emphasises that their core business of gaming and allied hospitality remains their primary focus. While they will be actively involved in the real estate platform, the majority of their capital expenditure and investments will be directed towards expanding their core operations.

(Source: Economic Times)

Ashok Piramal Group's Peninsula Land, Delta Corp and Alpha Alternatives Fund Advisors (AA Group) are forming a real estate development platform with a joint investment of Rs 7.65 billion. This collaboration signifies a new chapter for these companies in the property market. The newly formed entity will focus on two key areas: residential redevelopment within the Mumbai Metropolitan Region (MMR) and plotted development in areas surrounding Mumbai, including Alibaug, Khopoli, Karjat, and Pune. AA Group will contribute the majority share, investing up to Rs 4.5 billion through its affiliates, including Arsenio Strategies and its managed funds. Peninsula Land and Delta Corp will invest Rs 2.25 billion and Rs 900 million respectively. Additionally, Peninsula Land will leverage its expertise by providing development management services for the platform. ?This new platform will leverage the combined expertise of all parties in project selection, funding and development to unlock the value that exists in real estate today, especially for companies that have a track record of project delivery and the necessary financial resources to execute them in a timely manner,? said Rajeev Piramal, VC & MD, Peninsula Land. Beyond financial investment, Delta Corp will bring its real estate expertise to the table. Their contribution will be particularly valuable in selecting and developing projects undertaken by the platform. Separately, Peninsula Land has secured Rs 1.5 billion through optionally convertible debentures issued to AA Group's Arsenio Strategies. This funding bolsters Peninsula Land's financial position. In November 2023, Delta Corp had planned a separate joint venture with Peninsula Land, with Delta Corp holding a majority stake. However, with the formation of this larger platform, Delta Corp has decided to forego the earlier joint venture agreement. They believe the new platform offers a more prominent and financially prudent approach, while still allowing them to collaborate with Peninsula Land. Delta Corp emphasises that their core business of gaming and allied hospitality remains their primary focus. While they will be actively involved in the real estate platform, the majority of their capital expenditure and investments will be directed towards expanding their core operations. (Source: Economic Times)

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Real Estate

17 Dec 2025

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

Real Estate

17 Dec 2025

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..