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.