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Orbit Corporation Ltd share price today (on 1 October 2023).
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Live Chart -Orbit Corporation Ltd
BSE: 532837 | NSE: ORBITCORP | ISIN: INE628H01015 Market Cap: [Rs.Cr.] 578 | Face Value: [Rs.] 10 Industry: ConstructionOrbit Corporation Limited (OCL), an ISO 9001:2000 certified company was incorporated on 7th March 2000 as a public limited in the name and style of Orbit Cybertech Limited. It is an India-based real estate construction and development company, which works under the projects in two main divisions, high-end residential and commercial properties. It focuses primarily on the re-development of existing properties at prime location in Island city of Mumbai. Orbit has also concentrates Beach front properties in Mumbai. Some landmark projects of the company include Shivam, Orbit Heights, Orbit Eternia, Orbit Enclave, Orbit Arya, Hafeez Contractor House, Villa Orb, Orbit Haven, Orbit View, Orbit Grand, Orbit Plaza and JSW House. OCL had acquired the land for development of its first and foremost 'Shivam' project in April of the year 2002. An ISO 9001:2000 certification was obtained by the company in April of the year 2004 for Quality Management System from KPMG.
The Company had acquired 100% shareholding in Orbit Constructions & Realtors Private Limited (OCRPL) and also acquired 100% shareholding in Orbit Buildcon & Realty Private Limited (OBRPL) during April and December respectively in the same year 2004. In February of the year 2005, OCL had completed its first project Shivam' successfully. The Company name was changed from Orbit Cybertech Limited to the present one Orbit Corporation Limited, pursuant to which a fresh certificate of incorporation was attained on 10th April 2006. During the identical year of 2006, the company had acquired three properties at Worli seaface, Altamount Road and Bandra Kurla Complex. One of the most prestigious Retail and Real Estate Achievement Awards- 2006 was presented to the company by Real Estate Observer. During the financial year 2006-07, the company made its Initial Public Offerings (IPO) and also achieved another milestone by acquisition through bid process, a property i.e.
land located at Kalina, Santacruz, Mumbai, one of the prime locations of the Mumbai Megapolis from Ambuja Cements Limited for the consideration of Rs. 333 crores. The Company had successfully completed the amalgamation of its three wholly owned subsidiaries viz. Orbit Constructions & Realtors Pvt. Ltd., Orbit Buildcon and Realty Pvt. Ltd and Orbit Housing Pvt Ltd with effect from 1st April of the year 2007. Orbit had acquired 100% equity shares of Orbit Highcity Pvt in February 2008, consequent to which it has become a wholly owned subsidiary of the company and also increased its equity holding from 35% to 100% in Orbit Shelter Private Ltd, consequent to which it has become a wholly owned subsidiary of the company. In July of the same year 2008, the company acquired a 65% equity stake in Ahinsa Buildtech Pvt. Ltd., and 100% interest in Orbit Residency Pvt Ltd.
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