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PRESS RELEASES

09 February 2011

Unaudited Financial Results for Q3-FY11

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 Dec 31, 2010.

Key Business & Financial Highlights for Q3-FY 2011

  • Average realization psft for the projects improved by ~23% in Orbit Mandwah and ~11% in Orbit Residency Park 

  • Total income for Q3-FY11 stands at INR 1150 mn, an increase of 16.4% compared to Q2-FY11 

  • EBITDA margin for Q3-FY11 stands at 39 %, at a value of INR 445 mn  

  • PBT for Q3-FY11 stands at INR 330 mn compared to INR 259 mn in Q2-FY11, an increase of 27.5%  

  • PAT margin for Q3-FY11 is 20 % compared to 16.2 % in Q2-FY11 

  • PAT for Q3-FY11 increased to INR 231 mn from INR 160 mn in Q2-FY11 

  • Area sold in Q3-FY11 stands at  62,158 sft  at a value of INR 1335 mn 

  • Outstanding order book in Q3-FY11 stands at INR 8689 mn

Top Management’s Key View Points 

  • Shortage of supply in South Mumbai to continue though excessive future supply expected in Central Mumbai market 

  • Due to various commercial and regulatory reasons, supply expected in Central Mumbai in next 4 years could get extended to 7 years  

  • Further rise in the cost of funds is expected 

  • Revised CRZ norms may provide more opportunities for redevelopment in South Mumbai

Orbit Corporation Limited (OCL)

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

 
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