Management Presentation Management Presentation Management Presentation g
M h 2012 March 2012 March 2012
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Management Presentation Management Presentation Management Presentation g M March 2012 March 2012 h 2012 Di Disclaimer Disclaimer Disclaimer l i Certain statements made in this presentation may not be based on historical information or
M h 2012 March 2012 March 2012
Certain statements made in this presentation may not be based on historical information or facts and may be “forward looking statements ” Certain statements made in this presentation may not be based on historical information or facts and may be forward looking statements, including those relating to general business plans and strategy of Delta its future outlook and growth prospects and future developments including those relating to general business plans and strategy of Delta, its future outlook and growth prospects, and future developments in its businesses and its competitive and regulatory environment Actual results may differ materially from these forward looking in its businesses and its competitive and regulatory environment. Actual results may differ materially from these forward- looking p g y y y g statements due to a number of factors including future changes or developments in the Company's business its competitive statements due to a number of factors, including future changes or developments in the Company s business, its competitive i t it bilit t i l t it t t i d i iti ti d d t t h l i l h d liti l i l t environment, its ability to implement its strategies and initiatives and respond to technological changes and political, economic, regulatory , y p g p g g p , , g y and social conditions in India This presentation does not constitute a prospectus offering circular or offering memorandum or an offer to and social conditions in India. This presentation does not constitute a prospectus, offering circular or offering memorandum or an offer to i h d h ld t b id d d ti th t i t h ld b ib f h f th acquire any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of the acqu e a y s a es a d s ou d
e dat o t at a y esto s ou d subsc be o o pu c ase a y o t e Company's shares Neither this presentation nor any other documentation or information (or any part thereof) delivered or supplied under or Company s shares. Neither this presentation nor any other documentation or information (or any part thereof) delivered or supplied under or i l ti t th h h ll b d d t tit t ff f i it ti b b h lf f th C in relation to the shares shall be deemed to constitute an offer of or an invitation by or on behalf of the Company. in relation to the shares shall be deemed to constitute an offer of or an invitation by or on behalf of the Company. Th C h k t ti t i li d t d d t t ibilit li bilit The Company, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability The Company, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to the fairness accuracy completeness or correctness of any information or opinions contained herein The information with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information f f f C contained in this presentation unless otherwise specified is only current as of the date of this presentation The Company assumes no contained in this presentation, unless otherwise specified is only current as of the date of this presentation. The Company assumes no responsibility to publicly amend modify or revise any forward looking statements on the basis of any subsequent development information responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent development, information p y p y y y g y q p
and estimates The information contained herein is s bject to change itho t notice and past performance is not indicati e of f t re res lts and estimates. The information contained herein is subject to change without notice and past performance is not indicative of future results. j g p p The Company may alter modify or otherwise change in any manner the content of this presentation without obligation to notify any person The Company may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person f h i i h Thi t ti t b i d d di i t d i
g p y p y THE INFORMATION PRESENTED HERE IS NOT AN OFFER FOR SALE OF ANY EQUITY SHARES OR ANY OTHER SECURITY OF THE INFORMATION PRESENTED HERE IS NOT AN OFFER FOR SALE OF ANY EQUITY SHARES OR ANY OTHER SECURITY OF DELTA CORP LIMITED DELTA CORP LIMITED. This presentation is not for publication or distribution directly or indirectly in or into the United States Canada or Japan This presentation is not for publication or distribution, directly or indirectly, in or into the United States, Canada or Japan. These materials are not an offer of securities for sale in or into the United States Canada or Japan These materials are not an offer of securities for sale in or into the United States, Canada or Japan.
1
2
4
China China Pakistan Pakistan Nepal Sikki Nepal Sikkim Gujarat Gujarat Daman Daman Mumbai Mumbai Goa Goa Colombo S i L k Sri Lanka 5
♦ A
i d 51%
♦ Acquired 51%
q stakes in Daman stakes in Daman Hospitality and
Hospitality and Daman
♦ Acquired third off
Daman
♦ Acquired third off –
Entertainment shore Entertainment shore i C i
♦ Demerged Textile
casino, Casino
♦ Acquired 76% stake ♦ Demerged Textile
Prime
♦ Acquired 76% stake
business Prime in Marvel Resorts in business in Marvel Resorts in G
♦ Became India’s
Goa
♦ Commenced ♦ Became India s ♦ Commenced
ti f 2 largest gaming
♦ Entered the Real
largest gaming
♦ Entered the Real
Estate business in p
company Estate business in
C p y East Africa Nairobi casinos, Casino
♦ Entered the
East Africa, Nairobi , C Royale and Kings
♦ Raised INR 2,855 ♦ Entered the
G i & Royale and Kings
♦ Raised INR 2,855
th h i t Gaming &
♦ Listed on the Stock
Casino mn through private g Hospitality
♦ Listed on the Stock
Casino g p placement Hospitality Exchanges placement
♦ St
t d t til business Exchanges
♦ Acquired 35% stake ♦ Started as textiles
bus ess
♦ Acquired 35% stake
i Ad i H t l and real estate
♦ Raised INR 1 230
in Advani Hotels and real estate
♦ Raised INR 1,230
and Resorts Ltd consultancy mn through private and Resorts Ltd. y company mn through private placement company placement
♦ Raised INR 833 Mn ♦ Raised INR 833 Mn.
th h QIP through QIP g Q
6
India represents one of highest potential growth gaming markets in the world 1 India represents one of highest potential growth gaming markets in the world 1 D lt i th l t t i th k t d th l t th t i bli ith Delta is the largest operator in the market, and the only operator that is a public company with 2 Delta is the largest operator in the market, and the only operator that is a public company with it l k t 2 capital markets access 2 capital markets access Delta has secured the most attractive locations in India Goa and Daman 3 Delta has secured the most attractive locations in India – Goa and Daman 3 Delta is exploring the emerging Sri Lanka gaming market which is poised for rapid growth 4 Delta is exploring the emerging Sri Lanka gaming market which is poised for rapid growth 4 D lt h hi h lit t t ith i ifi t ti ti 5 Delta has a high quality management team with significant operating expertise 5 g q y g g p g p
8
(US$ b ) (US$ b %) (US$ bn) (US$ bn, %) (US$ bn) (US$ bn, %)
$37 9 $37.9
40 1%
$33.0
39 1% 40.1% 37 1% 39.1% 37.1% 34.3% 34.3%
$23 5
29.5%
$23.5
21 7% 19 7% 21.7%
$14 9
19.7%
$13 6 $14.9
16 5%
$13.6
16.5%
$10 4
$63 12 6% 13 6%
$10.4
$56 $63 12.6% 13.6%
$8 2 $8 4
$49 $56
$8.2 $7 0 $ $5 8 $ $8.4 $5 8
$41 $49
$5 9 $5 4 $7.0 $6.1 $5.8 $6.1 $5.8 $5 6
$32 $41
$5.9 $5.4 $4 0 $5.6
$32
$4.0
$20 $22 $11 $13 $17 $20 $22 $11 $13 $17 2006 2007 2008 2009 2010 2011 2012 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2006 2007 2008 2009 2010 2011 2012 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Singapore Macau Las Vegas
Asia Pacific Asia Pacificas a % of Total
Singapore Macau Las Vegas
Asia Pacific Asia Pacificas a % of Total
By 2012 Macau expected to have 6x the revenues of Asia gaming revenues expected to nearly double by 2014 By 2012, Macau expected to have 6x the revenues of Asia gaming revenues expected to nearly double by 2014 y p Vegas and Singapore will have comparable scale g g p y y and to make up 40% of total global gaming revenues Vegas and Singapore will have comparable scale and to make up 40% of total global gaming revenues
Source: DIJC, LVCVA, Wall Street Research. Source: PWC global casino and online gaming outlook (2010). Source: DIJC, LVCVA, Wall Street Research. Source: PWC global casino and online gaming outlook (2010).
9
2011E GDP G th R t (%) P C it I G th R t (%) 2011E GDP Growth Rate (%) Per Capita Income Growth Rate (%) 2011E GDP Growth Rate (%) Per Capita Income Growth Rate (%)
Forecasted FY’11E – FY’14E CAGR Historical FY’08 FY’11 CAGR Historical FY 08– FY 11 CAGR $ Per Capita Income as of FY’11 (US$) p ( )
$8,560 $8,560 10 9% $3 810 9 0% 10.9% $3,810 9.0% 9 7% 10.1% 9.7% % 7.8% $16 640 7.8% 8.2% $16,640 $11 750 7 4% 8 % $11,750 7.4% , 6.3% 6.3% $48 770 4 3% $48,770 4.3% 4.0% 4 1% 4.1% 3 7% 2 7% 3.7% 2.7% 1 2% 1 1% 1.2% 1.1% China India Russia Brazil US China India Russia Brazil US China India Russia Brazil US China India Russia Brazil US
India GDP expected to grow at the 2nd Per Capita income to remain consistently strong for India with India GDP expected to grow at the 2nd Per Capita income to remain consistently strong for India with p g highest rate in the world only behind China p y g near 10% growth projected from FY’11 to FY’14 highest rate in the world, only behind China near 10% growth projected from FY 11 to FY 14
Source: Economic Intelligence Unit Source: Economic Intelligence Unit. Source: Economic Intelligence Unit. 1 C l l t d GDP h d dj t d f P h i P P it Source: Economic Intelligence Unit.
10
N i l P i t C ti (US$ b ) 2009 2014E C S di G th Nominal Private Consumption (US$ bn) 2009 – 2014E Consumer Spending Growth Nominal Private Consumption (US$ bn) 2009 2014E Consumer Spending Growth
14 9% 14.9% 5 972 5,972 , 10 1% 10 0% 10 0% 9 9% 10.1% 10.0% 10.0% 9.9% 9 4% 9 3% 9.4% 9.3% 8 4% 8.4%
6.8x 6 8
883 883 2010 2025E Health & Travel & Telecom Health Dining Out Education Personal Personal 2010 2025E Health & B t Travel & L i Telecom Health C Dining Out Education Personal T t Personal C Beauty Leisure Care Transport Care y p
I di di j t d t T l & l i di t d t t 10% til 2014 Indian consumer spending projected to grow Travel & leisure spending expected to grow at >10% until 2014 Indian consumer spending projected to grow t i t l US$ 6 t illi b 2025 Travel & leisure spending expected to grow at 10% until 2014 d 2 d f t t ll dit t i to approximately US$ 6 trillion by 2025 and 2nd fastest among all consumer expenditure categories to approximately US$ 6 trillion by 2025 and 2nd fastest among all consumer expenditure categories
Source: Economic Intelligence Unit. Source: TechnoPak. Source: Economic Intelligence Unit. Source: TechnoPak.
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Population between age of 15 – 59 years (mn) % of population with annual income over INR 200 000 Population between age of 15 59 years (mn) % of population with annual income over INR 200,000
851 2 43% 851.2 43% 806.4 806.4 743 4 743.4 21% 21% 5% 5% 2011 2016E 2021E 2005 2015E 2025E 2011 2016E 2021E 2005 2015E 2025E
Young population between the age of 15 to 59 years Middle class with income over INR 200 000 to Young population between the age of 15 to 59 years Middle class with income over INR 200,000 to g p p g y to grow to 850 mn and 64% of population by 2021 account for over 40% of India’s population by 2025 to grow to 850 mn and 64% of population by 2021 account for over 40% of India s population by 2025
Source: McKinsey. Source: Report of the National Commission on Population. y p p
12
$1 5b Ind str $1.5bn Industry $ wagered in y valued at wagered in valued at g
$12 5bn
$12.5bn Cup match Cup match p
Ann al Ann al Annual Annual turnover turnover turnover turnover >$350m <$100m >$350m <$100m
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Goa has issued 6 live offshore licenses (1) of which 3 are owned by Delta
Goa has issued 6 live offshore licenses ( ), of which 3 are owned by Delta
Goa Daman/Diu Sikkim are the only Indian states issuing live gaming casino licenses
Goa, Daman/Diu, Sikkim are the only Indian states issuing live gaming casino licenses
Goa regulations for land based casinos allows for a casino only in 5 star hotels (2)
Goa regulations for land based casinos allows for a casino only in 5-star hotels (2)
N f C i O O ti l Name of Casino Owner Operational p Casino Royale Highstreet Cruises & Entertainment Yes Casino Royale Highstreet Cruises & Entertainment Yes (100% Subsidiary of DCL)
d
(100% Subsidiary of DCL)
a ed
Ki C i Vi t H t l d M t l (100% S b idi f DCL) N
ta ne
Kings Casino Victor Hotels and Motels (100% Subsidiary of DCL) No
elt wn
g ( y )
De w
Casino Prime Delta Corp Ltd and CGS Holding GMBH (Austria) Yes
D Ow
Casino Prime Delta Corp Ltd. and CGS Holding GMBH (Austria) Yes
O
Pride of Goa Goa Coastal Resorts owned by Khetarpal Yes Pride of Goa Goa Coastal Resorts owned by Khetarpal Yes
s
Boa Sorte Salgaonkar Group – business family based in Goa, own the Marriott Hotel, Goa Yes
r es
Boa Sorte Salgaonkar Group business family based in Goa, own the Marriott Hotel, Goa Yes
er se he ns Oth ce
Casino Rio MDLR Gro p has di ersified interests in real estate hospitalit & resorts resta rants and No
O ic
Casino Rio MDLR Group – has diversified interests in real estate, hospitality & resorts, restaurants and No
Li
airlines
L
airlines
(1) One license was issued prior to 2008 (Casino Prime) and 5 were issued in 2008 (1) One license was issued prior to 2008 (Casino Prime) and 5 were issued in 2008. (2) Land based casinos in Goa is onl allo ed in electronic form (2) Land based casinos in Goa is only allowed in electronic form
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spend ~US$350 million annually spend ~US$350 million annually
t f i it 500 (l d b d) d 2 000 ( ff h )
y p ( ) , p ( )
(land based) and 50 million rupees (offshore)
(land based) and 50 million rupees (offshore)
Flight Cost No of Daily Flight Cost
From To Flight Duration (INR/one way ticket) Flights From To Flight Duration (INR/one way ticket) Flights Mumbai Goa 55m 1 800 19 Mumbai Goa 55m 1,800 19
Delhi
Goa 2h 45m 3 600 5
Delhi
Goa 2h 45m 3,600 5
B l G 1h 10 2 600 3
Bangalore Goa 1h 10m 2,600 3
Chennai Goa 1h 15m 3 300 1 Chennai Goa 1h 15m 3,300 1 Hyderabad Goa 1h 45m 3,100 2 y ,
Source: India Ministry of Tourism, Wall Street research. Source: India Ministry of Tourism, Wall Street research.
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♦ Close proximity to major Indian cities located just an hour flight from ♦ Close proximity to major Indian cities, located just an hour flight from
M b i B l Ch i 1 5 h f H d b d d 2 5 Mumbai, Bangalore, Chennai, 1.5 hours from Hyderabad and 2.5 , g , , y hours from Delhi hours from Delhi
♦ Well positioned to become the gaming hub of South Asia with ♦ Well positioned to become the gaming hub of South Asia, with
potential to attract visitors from other regions such as SE Asia and potential to attract visitors from other regions such as SE Asia and Middle East Middle East
♦ Easy connectivity with direct flights to key cities such as Mumbai New ♦ Easy connectivity with direct flights to key cities such as Mumbai, New
Delhi, Chennai Delhi, Chennai Region Country Population Region Country Population India 1,216 , 6 Sri Lanka 22 South Asia Sri Lanka 22 South Asia B l d h 156 Bangladesh 156 g Pakistan 184 Pakistan 184 China 1 337 China 1,337 SE A i / Chi M l i 28 SE Asia / China Malaysia 28 y Thailand 67 Thailand 67 Vietnam 88 Vietnam 88 Other Russia 140 Other Russia 140 Middle East 360 Middle East 360
Source: India Ministry of Tourism, Wall Street research. Source: India Ministry of Tourism, Wall Street research.
16
f G
Located along the coast in the state of Gujarat but governed by the same gambling act
Located along the coast in the state of Gujarat, but governed by the same gambling act th t f G O ti l L ti t as that of Goa Optimal Location to as that of Goa
G i d l h l ti i t itt d i G j t Optimal Location to B N G i d
Gaming and alcohol consumption is not permitted in Gujarat Become New Gaming and
Gaming and alcohol consumption is not permitted in Gujarat
D tt t i it f G j t t l h l Become New Gaming and E t t i t M k t
Daman attracts many visitors from Gujarat to consume alcohol Entertainment Market
Daman attracts many visitors from Gujarat to consume alcohol
P i it t M b i d G j t id t t it f D t b te ta e t a et
Proximity to Mumbai and Gujarat provides great opportunity for Daman to become a y j p g pp y l di i t t i t l i d MICE i I di leading gaming, entertainment, leisure and MICE venue in India g g g, ,
Delta has the first mover advantage in Daman
Delta has the first mover advantage in Daman g Favourable Industry and
Only 2 in principle gaming licenses have been granted both owned by Delta Favourable Industry and
Only 2 in – principle gaming licenses have been granted, both owned by Delta y Regulatory Dynamics For Regulatory Dynamics For
Only foreseeable Casino in Daman in near future g y y Delta
Only foreseeable Casino in Daman in near future Delta
N l d b d li lik l t l b t d if 5 t h t l i b ilt (
New land based licenses are likely to only be granted if 5-star hotel is built (same
New land based licenses are likely to only be granted if 5 star hotel is built (same l ti G ) regulation as Goa) regulation as Goa)
While tourism in Daman is poised to expand significantly FDI restrictions and lack of Additional Supply to Provide
While tourism in Daman is poised to expand significantly, FDI restrictions and lack of Additional Supply to Provide resources / capital limits significant foreseeable casino competitor in the near term Incremental Value resources / capital limits significant foreseeable casino competitor in the near term Incremental Value
As the market matures new supply will only drive incremental traffic to the region
As the market matures, new supply will only drive incremental traffic to the region
S I di Mi i t f T i Source: India Ministry of Tourism,
17
contiguous to the state of Gujarat one of the most affluent contiguous to the state of Gujarat, one of the most affluent city/states in India city/states in India
il ibl b d f i hb i t t / iti
Distance from Daman City Population (mm) Distance from Daman City Population (mm) (km) (km) Mumbai 12 5 ~180 km Mumbai 12.5 180 km Surat 4.5 ~120 km Surat 4.5 120 km V d d 1 8 250 k Vadodara 1.8 ~250 km Ahmedabad 5 5 ~350 km Ahmedabad 5.5 ~350 km
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tourist arrivals increasing every month on a year-on-year basis tourist arrivals increasing every month on a year on year basis
k li t l li d i bli ith th f th C i R l ti Bill i N b 2010 t f th
t’ h t it li it t i i d t government’s push to revitalize its tourism industry government s push to revitalize its tourism industry
g g p j g g g p
Number of Visitors to Sri Lanka Number of Visitors to Sri Lanka F ll Y U il M Full Year Until May
654 5
Full Year Until May
654.5 46.1%
327.9
46.1% 44 3% ) 44.3% 448 0 00
233 9
448.0 '00
233.9
(' rs
157.5
to isi Vi
2009 2010 2011
2009 2010
2009 2010 2011
2009 2010
Source: Sri Lanka Tourism Board Source: Sri Lanka Tourism Board.
19
Year Opened Gaming Table Casino Year Opened / A i d Ownership Location Gaming P iti Table P iti Slots Status Casino / Acquired Ownership Location Positions Positions Slots Status q Casino Royale 2008 100% Goa 500 470 30 Operational Casino Royale 2008 100% Goa 500 470 30 Operational Expected Opening Kings Casino 2011 100% Goa 1 500 1 250 250 Expected Opening Kings Casino 2011 100% Goa 1,500 1,250 250 Date: 3Q 2012-13 Date: 3Q 2012 13 Casino Prime 2010 51% Goa 200 190 10 Operational Casino Prime 2010 51% Goa 200 190 10 Operational
Year Year Gaming Tables Hotel Hotel Opened / Ownership Location Gaming Tables Slots Hotel Status Hotel Opened / Ownership Location Positions Positions Slots Rooms Status Acquired Positions Positions Rooms Acquired Expected Opening Date: Daman Hospitality* 2011 51% Daman 1 000 750 250 179 Expected Opening Date: Daman Hospitality 2011 51% Daman 1,000 750 250 179 May 2012 May 2012 *Casino will be operated in the hotel through a separate entity “Daman Entertainment Private Limited” Casino will be operated in the hotel through a separate entity Daman Entertainment Private Limited
21
22
h d l f C ’ i A il 2011 d t l A bi S
p p p p King which commenced operations in 2008 King which commenced operations in 2008 g p
f C ff
13 13
g
g g g g positions and 250 slot machines positions and 250 slot machines
Artistic impression Artistic impression
23
entity 51% owned by Delta entity 51% owned by Delta
and 10 slot machines and 10 slot machines
24
O i Overview Overview
♦
Largest contiguous integrated resort in Daman
♦
Largest contiguous integrated resort in Daman
♦
Only foreseeable land based casino in Daman
♦
Only foreseeable land based casino in Daman
♦
S d 10
♦
Spread over 10 acres p
♦
Expected opening May 2012
♦
Expected opening May 2012
G i F iliti Gaming Facilities g
♦
60 000 square feet of gaming space
♦
60,000 square feet of gaming space
♦
1 000 gaming positions comprising of 750 table game positions
♦
1,000 gaming positions comprising of 750 table game positions and 250 slot machines and 250 slot machines
H t l F&B d Oth F iliti Hotel, F&B and Other Facilities ,
♦
179 all suite hotel rooms
♦
179 all-suite hotel rooms
♦
3 bars and 4 restaurants
♦
3 bars and 4 restaurants
♦
29 000 ft f i d t (MICE )
♦
29,000 sq ft of indoor event (MICE space) , q ( p )
♦
> 8 000 sq ft high end end shopping facility
♦
> 8,000 sq ft. high-end end shopping facility
Artistic impression Artistic impression
25
8 3 9 7.7 8.3 8 9 7.7 8 7 n.) 5 6 5 6 5 7 7 Mn 4 7 5.6 5.6 5.7 6 M 4.6 4.7 5 6 ($ 4.6 5 e ( 4 ue 4 nu 3 ve 2 3 ev 2 Re 1 R 1 Q1 FY11 Q2 FY11 Q3 FY11 Q4 FY11 Q1 FY12 Q2 FY12 Q3 FY12 Q1-FY11 Q2-FY11 Q3-FY11 Q4-FY11 Q1-FY12 Q2-FY12 Q3-FY12
Gaming and Hospitality* Consolidated* Particulars (US$ Mn ) Gaming and Hospitality Consolidated Particulars (US$ Mn.) ( ) 31 Dec 11 31 Dec 10 31 Dec 11 31-Dec-11 31-Dec-10 31-Dec-11 Total Income 21 6 14 9 60 1 Total Income 21.6 14.9 60.1 Operating Expenditure 16 3 10 2 41 9 Operating Expenditure 16.3 10.2 41.9 p g p EBITDA 3 4 18 2 EBITDA 5.3 4.7 18.2 EBITDA 5.3 4.7 18.2 % EBITDA 24 64% 31 55% 30 25% % EBITDA 24.64% 31.55% 30.25%
N t F th i d f i th di 31 t D Note: For the period of nine months ending 31st Dec p g Lower EBITDA margin in FY12 due to one time marketing exp and write offs Lower EBITDA margin in FY12 due to one time marketing exp and write offs Exchange Rate $1 = INR49 Exchange Rate $1 = INR49
27
100% 100% 100% 100% 100% 100%
Delta Real Estate Delta Hospitality and Delta Leisure and Delta Real Estate p y Leisure Pvt Ltd Entertainment Pvt Ltd Leisure Pvt. Ltd. Entertainment Pvt. Ltd.
100% 76% 51% 51% 51% 40% 100% 76% 51% 51% 51% 40%
Daman Hospitality Daman Daman Hospitality (Th d bi d Delta Pleasure Cruise Daman E t t i t Highstreet Cruises Real Estate M l R t (Thunderbird Delta Pleasure Cruise Company Pvt Ltd Entertainment g &Entertainment Real Estate Kenya Marvel Resort Resorts) Company Pvt. Ltd. Pvt Ltd &Entertainment Kenya Resorts)
100% 76% 100% 76%
Victor Hotels Marvel Resorts and Motels (Holiday Inn) and Motels (Holiday Inn)
35% 35%
Advani Hotels Advani Hotels (Ramada Cara ela) Kings Casino Casino (Ramada Caravela) Kings C i Casino Casino Prime Casino J k t To Be Named
(1)
Casino Royale Casino Prime Jackpot To Be Named y p
R l E t t G i H it lit Real Estate Gaming Hospitality Gaming Hospitality
(1) Delta owns 35% equity stake in Advani Hotels & Resorts India Limited. Not operated or controlled by DCL (1) Delta owns 35% equity stake in Advani Hotels & Resorts India Limited. Not operated or controlled by DCL
28
D lt ’ t J d M d d th h ld 42 3%
Delta’s promoters, Jaydev Mody and others, hold 42.3% p , y y ,
p y g investment vehicles investment vehicles Jaydev Mody has over 26 years of experience in real – Jaydev Mody has over 26 years of experience in real estate development estate development
Among P blic shareholders 19 7% is held b large
Among Public shareholders, 19.7% is held by large g , y g shareholders (holding more than 1% of the shares shareholders (holding more than 1% of the shares ( g
g) – Rakesh Jhunjhunwala the renowned Indian – Rakesh Jhunjhunwala, the renowned Indian Investor holds a 7% stake Investor, holds a 7% stake
Non Institutional / Retail shareholders and Clearing
Non Institutional / Retail shareholders and Clearing g Members together own the remaining 37 8% of the Members together own the remaining 37.8% of the g g Company Company p y ICICI V t i t it i t t d
ICICI Ventures, a private equity investment arm and a ICICI Ventures, a private equity investment arm and a h ll d b idi f ICICI B k tl h ld wholly-owned subsidiary of ICICI Bank, currently holds wholly owned subsidiary of ICICI Bank, currently holds 6 2% t k a 6.2% stake
CLSA (Mauritius) Limited owns 2 2% stake CLSA (Mauritius) Limited owns 2.2% stake Morgan Stanley Mauritius Company Limited owns
Morgan Stanley Mauritius Company Limited owns 0 95% stake 0.95% stake
29
41
30