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PRESS RELEASES

09 February 2012

Unaudited Results for the Quarter ended 31 December 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 31 December 2011.

Key Financial Highlights

  • Total income for Q3FY12 stands at INR 735 mn as compared to INR 1,054 mn in Q2FY12
  • EBITDA for Q3FY12 stands at INR 286 mn
  • PAT for Q3FY12 stands at INR 33 mn
  • Area sold in Q3FY12 stands at 32,921 sft at a value of INR 711 mn
  • Outstanding order book stands at INR 6,804 mn at the end of Q3FY12
  • EPS for Q3FY12 is INR 0.29

Top Management’s Key View Points on Industry and Outlook

  • Maharashtra Government announced amendments to DC Rules with a view to encourage transparency, establish level playing field and reduce arbitrary decision making
  • State Cabinet approved setting up of the Housing Regulatory Authority and the Housing Appellate Tribunal
  • Momentum of regulatory approvals seems to be firming up across the sector
  • Prices across MMR have remained largely stable

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.

 
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