Audited Results for the Year Ended 31March 2013 – Press Release
Orbit Corporation Limited (“OCL”), a leading premium developer in the Mumbai Metropolitan Area with significant presence in niche and premium locations of South and South Central Mumbai, declared its un-audited financial results for the quarter ended 31 March 2013.
Key Financial Highlights
- Total income for FY13 stands at INR 3,109 mn, as compared to INR 3,909 mn in FY12
- EBITDA Margin for FY13 at 33.2% as compared to EBITDA for FY12 at 29.5%
- PAT for FY13 stood at INR 75.3 mn (2.4% PAT Margin) as compared to INR 117.0 mn for FY12 (3.0% PAT Margin)
- Total Area sold till FY13 stands 1,03,484 sft at value of INR 1,670 mn, an increase of 27% in volume terms over FY12 of 81,567 sft at value of INR 1,514 mn
Top Management’s Key View Points on Industry and Outlook
- Streamlining of permission procedure
- Price correction is unlikely in short term
- Innovative marketing techniques & pricing schemes used to maintain sales
- Major infrastructure initiatives in MMR gaining momentum now
Orbit Corporation Limited (OCL)
(BSE: 532837; NSE: ORBITCORP; Reuters: ORCP.BO; Bloomberg: ORB@IN)
Forward Looking Statement
Certain statements in this document may be forward looking based on certain assumptions of future events over which the Company exercises no control. Hence this involves number of risks and uncertainties which could cause the actual results to differ materially from those that may be projected or implied by these forward looking statements. Such risks and uncertainties include, but are not limited to: our ability to manage growth, competition, attracting and retaining skilled professionals, time and cost overruns, regulatory approvals, market risks, domestic and international economic conditions, and changes in laws governing the company including the tax regimes and exchange control regulations.