Unaudited Financial Results for the Quarter Ended 30 june 2013
MUMBAI, 13 August 2013Orbit Corporation Limited (“OCL”), a Leading Premimum Developer in Mumbai Metroploitan Area with significance Presense in Niche And premimum Locations of South And South Central Mumbai, declared its unaudited financial results for the quarter ended 30 June 2013. Key ...
MUMBAI, 13 August 2013
Orbit Corporation Limited (“OCL”), a Leading Premimum Developer in Mumbai Metroploitan Area with significance Presense in Niche And premimum Locations of South And South Central Mumbai, declared its unaudited financial results for the quarter ended 30 June 2013.
Key Financial Highlights
- Mr. Ramashrya Yadav (Head – Finance & Strategies) has been appointed by the Board as Joint Chief Executive Officer
- Total income for Q1-FY14 stands at INR 241.1 mn, as compared to inr 488.0 mn in Q4-FY13
- EBITDA margin for Q1-FY14 at 8.7%, As compared to EBITDA for Q4-FY13 at 22.0%
- PAT (attributable to OCL) for Q1-FY14 stood at INR (199.9) mn as compared to INR (105.3) mn for Q4-FY13
- New Area sold in Q1-FY14 stands 5,735 sft at value of INR 128.5 mn, at an average price of INR 22,398 psft
Top Management’s Key View Points on Industry and Outlook
- Regulatory scenario has greatly improved and further streamlining of process is expected
- Financial Leverage and heavy interest burden continue to be a concern for the industry
- Indirect Price cuts through innovative payment schemes to increase sales to meet cash flow requirements
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.