Latest news with #DeltaCorp
Time of India
5 days ago
- Business
- Time of India
Panaji Residency: Rs 22L curtains offered for ‘posh' Delta guests
Panaji: Delta Corp Ltd, which had a corporate tie-up with the Goa Tourism Development Corporation (GTDC) for Panaji Residency until March 31, approached the corporation to renew the contract. Delta Corp assured the GTDC of consistent occupancy with an approximate payout of Rs 3 crore per year. Delta Corp said that it could utilise a minimum of 6,000 room nights per year at Panaji Residency, translating to Rs 30 lakh of turnover per month. The GTDC's board agreed to renew the corporate tie-up. The GTDC had executed a MoU with Delta Corp Ltd for the period from April 1, 2022, to March 31, 2025. Given that Delta Corp will bring in 'high profile guests', an inspection of the GTDC-owned property found that the curtains need replacement. The GTDC offered to replace the curtains in 45 rooms at the Panaji Residency at a cost of Rs 22 lakh. Delta Corp operates four offshore casinos in the Mandovi under the Deltin brand. The GTDC's Panaji Residency is a stone's throw from the Captain of Ports jetty, where the casinos have offices. 'It is important to maintain high standards of aesthetics to match the expectations of the high profile guests who are staying through the corporate tie-up of Delta Corp Ltd, which is generating assured revenue and occupancy at the Panaji Residency. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Switch to UnionBank Rewards Card UnionBank Credit Card Apply Now Undo The financial implication is Rs 22 lakh, excluding GST,' said the note submitted to the board. The GTDC, which has Ganesh Gaonkar as the chairman, asked the Goa Handicrafts Rural & Small Scale Industries Development Corporation (GHRSSIDC) to provide rates from empanelled vendors to replace the old curtains and curtain tracks with new ones in 45 rooms. The board agreed to place the order with the GHRSSIDC, a govt-backed body. Pravin Arlekar is the GHRSSIDC chairman. Panaji Residency recently underwent an upgrade, with rooms being painted and fresh wallpaper being fixed.
Time of India
07-05-2025
- Business
- Time of India
State ignores its agri policy, hands over 3.3L sqm irrigation land to casino firm
Panaji: Two months after govt's much avowed Goa State Amritkal Agriculture Policy, 2025 was introduced to revitalise farming and make the state self-sufficient, chief minister Pramod Sawant-led govt with a stroke of a pen on Wednesday denotified 3.3 lakh sqm of the Tillari command area at Dhargalim to pave the way for Delta Corp Ltd , a casino gaming company, to set up an integrated integrated resort project that will come up at the command area of the Tillari irrigation project comprises three hotels, a convention centre, a multiplex, a retail area, a water park, banquet facilities and a children's entertainment area, among addition to handing over the land that could be irrigated, state govt also waived off Rs 5.5 crore sought by the water resource department, terming it as 'notional'.The proposal to denotify 3.3 lakh sqm of the notified command area was moved by the Goa Investment Promotion and Facilitation Board (Goa IPB).The Tillari irrigation project is an interstate project taken up at a cost of Rs 1,465 crore to irrigate a command area of 14,521Ha in Goa. The dam is located in Maharashtra, and the canals are constructed in Maharashtra and from the dam is supplied for irrigation and drinking purposes through two canals, namely the Left Bank Main Canal (LBMC) and the Right Bank Main Canal (RBMC).The LBMC supplies water to an area of 10,267Ha, which is spread across the talukas of Bicholim and Bardez, while the RBMC irrigates an area of 4,254Ha, which is spread across Pernem has notified 14,521Ha of land under the command area development and water resources management programme of the Tillari irrigation project, under Section 17 of the Goa Command Area Development Act, 1997, and Rules 2022, the state cabinet resolved to declare 3.8 lakh sqm in Pernem as an investment for Delta Corp without consulting the WRD or seeking inputs from April 17, 2023, the Goa IPB issued a conversion sanad for 3.3 lakh sqm, while 40,000sqm was excluded from the conversion sanad. Fees amounting to Rs 28 crore were paid by Delta less than a month, on May 9, 2023, Goa IPB cleared the proposal from Delta Corp seeking it as an investment promotion area for setting up an integrated resort development .On Feb 9, 2024, the Goa IPB issued a licence to Delta Corp for setting up the integrated resort development with a construction fee of over Rs 10 crore for a final area of 3.3lakh sqm. It also submitted a proposal to the WRD to denotify the land conversion of land was done under the Goa Land Revenue Code and also granted technical clearance under the town and country planning (TCP) regulations. This was permitted only upon the applicant paying an amount of Rs 28 crore towards the conversion fees.'Therefore, there is no loss as such to the WRD of Rs 5.5 crore for which they sought a waiver, as the applicant company compensated govt towards the change of user by more than five times the amount spent by govt,' the cabinet said.
Time of India
26-04-2025
- Automotive
- Time of India
First Rake of 270 Cars Set to Arrive at Nagpur MMLP
Nagpur: A railway rake loaded with around 270 cars is set to arrive at the state-of-the-art Nagpur Multi-Modal Logistics Park (MMLP) at Sindi in a couple of days, marking the start of commercial operations at the facility. Delta Corporation Holdings , a UAE-based leading third-party logistics provider, is developing this ambitious project, which is expected to boost the growth of the Vidarbha region. The company is also eyeing a reverse merger with a Nasdaq-listed firm to raise funds for the Nagpur MMLP. Popularly known as the Sindi Dry Port , the Nagpur MMLP is one of the pet projects championed by Union minister for road transport and highways Nitin Gadkari. Delta Corp is in the final stages of completing a reverse merger with Kaival Brands Innovation. This deal will result in both entities becoming wholly owned subsidiaries of a newly formed corporate entity—Delta Corp Holdings Limited (Pubco)—incorporated in the Cayman Islands, said the company's executive director, Tanisha Paliwal. "The combined entity will be listed on Nasdaq. It will provide Delta Corp with direct access to global institutional and retail investors, helping raise growth capital for the Nagpur project," she explained. The idea behind establishing a dry port at Sindi is to reduce transportation costs. Although located in Wardha district, the facility is named after Nagpur due to its proximity to the city. The contract to develop the facility was awarded to Delta Corp as part of the PM Gati Shakti Master Plan, which envisions establishing similar hubs across the country. Delta has entered into a 45-year agreement with the National Highways Logistics Management Limited (NHLML), a subsidiary of the National Highways Authority of India (NHAI), to develop the project. Trial runs have already been conducted. The company has partnered with APL Vascor for the transport of Maruti Suzuki's cars. Previously, rakes carrying cars used to arrive at a different terminal near Nagpur. With the new arrangement at Sindi, the logistics turnaround is expected to be faster, said the company's executive vice president, Capt Sumanta Das. Regular rake movements are expected to commence soon. A variety of other commodities will also be transported through the Nagpur MMLP, he added. JPR Balaji Infra is the construction partner for the project. Delta Corporation operates across 16 countries in Asia, Africa, and Europe. Its logistics portfolio includes bulk shipping, marine fuel supply, and multimodal transportation across global supply chains. Operating on an asset-light model, the company plans to further strengthen its position through public-private partnerships, according to a note shared by the company.
Business Standard
23-04-2025
- Business
- Business Standard
Delta Corp gains as Q4 PAT zooms 127% YoY to Rs 165 cr
Delta Corp added 1.05% to Rs 94.20 after the company's consolidated net profit zoomed 127.26% to Rs 164.56 crore in Q4 FY25 as against Rs 72.41 crore posted in Q4 FY24. However, revenue from operations declined 1.20% to Rs 182.65 crore in Q4 FY25, compared with Rs 184.87 crore posted in Q4 FY24. Profit before tax soared 142.80% to Rs 252.86 crore in Q4 FY25, compared with Rs 104.13 crore posted in Q4 FY24. Total expenses shed 0.73% YoY to Rs 154.06 crore during the quarter. The cost of material consumed stood at Rs 15.35 crore (down 35.42% YoY), and license & registration fees were at Rs 30.39 crore (down 1.04% YoY) during the period under review. On the segmental front, revenue from the casino gaming division fell 3.20% YoY to Rs 166.39 crore in Q4 FY25, while revenue from the hospitality division jumped 22.94% YoY to Rs 16.72 crore during the quarter. On a standalone basis, the companys net profit tumbled 31.52% to Rs 59.35 crore in Q4 FY25, compared with Rs 86.68 crore posted in Q4 FY24. Revenue from operations stood at Rs 146.54 crore in Q4 FY25, down 4.86% year on year. On a full-year basis, the company's net profit added 1.94% to Rs 248.99 crore despite a 13.98% decline in revenue from operations to Rs 729.63 crore in FY24 over FY23. For the year ended 31st March 2025, the company reported exceptional items amounting to Rs 213.22 crore. This includes a net gain of Rs 130.49 crore on the sale of 51% equity shares in its subsidiary, Deltatech Gaming (DGL). Following this transaction, DGL ceased to be a subsidiary and is now accounted for as an associate company under the equity method. Additionally, a gain of Rs 81.65 crore was recognized on the fair valuation of the remaining 49% stake in DGL. A further gain of Rs 1.08 crore arose from the strike-off of Delta Offshore Developers, a wholly owned and non-material foreign subsidiary. In the previous financial year, exceptional items stood at Rs 49.78 crore, which included a profit of Rs 58.79 crore from the sale of equity shares in Caravella Entertainment and a write-off of Rs 9.01 crore related to IPO expenses. Meanwhile, the companys board has recommended a final dividend of 125%, i.e., Rs 1.25 per equity share. The dividend will be paid by the company to the shareholders within 30 days from the date of approval of the same by the shareholders at the ensuing annual general meeting of the company. Delta Corp is the only listed company engaged in the casino (live, electronic, and online) gaming industry in India. The company is engaged in diversified segments like casino gaming, online gaming, hospitality, and real estate.
Business Standard
23-04-2025
- Business
- Business Standard
Delta Corp consolidated net profit rises 127.26% in the March 2025 quarter
Sales decline 1.20% to Rs 182.65 crore Net profit of Delta Corp rose 127.26% to Rs 164.56 crore in the quarter ended March 2025 as against Rs 72.41 crore during the previous quarter ended March 2024. Sales declined 1.20% to Rs 182.65 crore in the quarter ended March 2025 as against Rs 184.87 crore during the previous quarter ended March 2024. For the full year,net profit rose 1.95% to Rs 248.99 crore in the year ended March 2025 as against Rs 244.23 crore during the previous year ended March 2024. Sales declined 13.99% to Rs 729.63 crore in the year ended March 2025 as against Rs 848.27 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 182.65184.87 -1 729.63848.27 -14 OPM % 22.2126.13 - 25.5636.07 - PBDT 53.4761.81 -13 238.04350.34 -32 PBT 40.6948.47 -16 188.26294.13 -36 NP 164.5672.41 127 248.99244.23 2
