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09 February 2011

Unaudited Results for the quarter ended 30 June 2011

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 unaudited financial results for the quarter ended June 30, 2011.

Key Financial Highlights

  • Total income for Q1FY12 stands at INR 867 mn as compared to INR 698 mn in Q4FY11.

  • EBITDA for Q1-FY12 stands at INR 224 mn

  • PAT margin for Q1FY12 stands at 11% 

  • PAT for Q1-FY12 stands at INR 92mn 

  • Area sold in Q1-FY12 stands at 9,958sft at a value of INR 117 mn

  • Outstanding order book stands at INR 7,778 mn as compared to INR 8512 mn in Q4FY11 

  • EPS for Q1FY12 is INR 0.80

Top Management’s Key View Points on Industry and Outlook

  • Execution is beginning to gear up with slightly improved regulatory scenario

  • Prices have firmed up in South Mumbai, while prices in Central Mumbai have declined in the last quarter  

  • Sales momentum is expected to be back by the festive season 

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, changes in laws governing the company including the tax regimes and exchange control regulations. 

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