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PRESS RELEASES

12 February 2014

Unaudited Results for the Quarter & Nine Months Ended 31 December 2013

MUMBAI, 12 February 2014Orbit 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 & nine months ...

MUMBAI, 12 February 2014

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 & nine months ended 31 December 2013.

Key Financial Highlights

  • Total income for Q3-FY14 stands at INR 88 mn, as compared to INR 350 mn in Q2-FY14
  • EBITDA Margin for Q3-FY14 at (4.4%) as compared to EBITDA for Q3-FY13 (Y-o-Y) at 35.3%
  • PAT for Q2-FY14 stood at INR (266) mn as compared to INR (261) mn for Q1-FY14
  • After a span of 19 quarters company witnessed a period of no fresh sales
  • Mrs. Urvashi Saxena has been appointed as an Independent Director

Top Management’s Key View Points on Industry and Outlook

  • Heavy interest burden along with steady increase in the ready reckoner a dampener to demand
  • Recent Supreme Court judgment on mandatory open space, recreational ground to have impact on design and
    elevation of the projects
  • Company to strategically monetize certain investments to reduce debt and is in advance stage to exit couple of its
    projects or enter into JDAs

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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