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03 November 2010

Q2 Un-Audited Results for Financial Year 2011 – Press Release

Orbit Corporation Limited (“OCL”), a Real Estate Developer with prime focus in the redevelopment sector of Mumbai declared its unaudited financial results for the quarter ended September 30, 2010.

Key Financial Highlights for Q2-FY11

  • Total income for Q2-FY11 stands at INR 988mn
  • EBITDA margin for Q2-FY11 stands at 31.6%, at a value of INR 313 mn
  • PBT for Q2-FY11 stands at INR 259mn compared to INR 334mn in Q2-FY10
  • PAT margin for Q2-FY11 are 16.24% compared to 17.58% in Q2-FY10
  • PAT for Q2-FY11 stands at INR 160 mn compared to INR 249mn in Q2-FY10
  • Area sold in Q2-FY11 stands at 157,917 sft at a value of INR 2291 mn.
  • Outstanding order book stands at INR 8493mn as compared to INR 4031mn in Q2-FY10, an increase of approx 2.1X

Key Business Highlights for Q2-FY11

  • Average realization psft improved by ~14% in South Mumbai locations comprising Nana
  • Chowk/Gamdevi and by ~8% in South Central Mumbai
  • Orbit Enclave at Prarthna Samaj launched during the quarter
  • Robust sales of 1,02,800 sft during the quarter from Orbit Mandwah project at an average price of INR 8,508 psft

Top Management’s Key View Points

  • Robust Demand in South Mumbai micro-market of Gamdevi/Nana Chowk/Prarthna Samaj
  • Management to focus on maturity of current pipeline to execution phase

Orbit Corporation Limited (OCL)
(BSE: 532837; NSE: ORBITCORP; Reuters: ORCP.BO; Bloomberg: ORB@IN)

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