Un-audited Results for the Quarter & Nine Months ended 31 December 2012 – 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 December 2012.
Key Financial Highlights
- Total income for Q3FY13 stands at INR 710 mn, as compared to INR 735 mn in Q3FY12
- EBITDA Margin for 9M-FY13 at 35.2% as compared to EBITDA for 9M-FY12 at 38.9%
- PAT for 9M-FY13 stood at INR 181 mn (6.9% PAT Margin) as compared to INR 167mn for 9M-FY13 (6.3% PAT Margin)
- Total Area sold till 9M-FY13 stands 89,759 sft at value of INR 1,501 mn, an increase of 72.9% in volume terms over 9M-FY12 of 51,913 sft at value of INR 1,070 mn
Top Management’s Key View Points on Industry and Outlook
- Customers are coming back as prices remain stable
- Certainty in regulatory process and environment, however speed of approvals yet to pick up
- Deceleration of interest rate has already started and would continue further
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.