Home  »  Company  »  Orbit Corporation Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

Orbit Corporation Ltd. Company History and Annual Growth Details

Our Company was incorporated on March 7, 2000 under the Companies Act as
"ORBIT CYBERTECH LIMITED". We had obtained the Certificate of
Commencement of Business on October 12, 2000. Our name was changed to
"ORBIT CORPORATION LIMITED" pursuant to which a Fresh Certificate of
Incorporation was issued on April 10, 2006.

Our registered office is situated at "The View", 165, Dr. Annie Besant Road, Worli,
Mumbai- 400 018.

Acquisition of Subsidiaries

We acquired 10,120 equity shares of Rs. 10 each of "Orbit Constructions & Realtors
Private Limited" OCRPL at par on April 1, 2004 from Mr. Ravi Kiran Aggarwal and
Mr. Pujit Aggarwal and others. The consideration of Rs. 101,200/- was paid by us to
the sellers in cash. The shares are held in our name and in our nominees' name.
Subsequent to the above acquisition, we acquired further equity shares by way of an
allotment of 19,489,880 equity shares of Rs 10 each at par in cash.

For details in relation to OCRPL, please see sub-section titled "Our Subsidiaries" of
this section. We acquired 10,000 equity shares of Rs. 10 each of Orbit Buildcon & Realty
Private Limited "OBRPL" at par on December 17, 2004 from Mr. Ravi Kiran Aggarwal
and Mr. Pujit Aggarwal and others. The consideration of Rs. 100,000/- was paid by us to
the sellers in cash. The shares are held in our name and in our nominees' name. Subsequent
to the above acquisition, we acquired further equity shares by way of an allotment of
8,990,000 equity shares of Rs 10 each at par in cash.

For details in relation to OBRPL, please see sub-section titled "Our Subsidiaries" of
this section. A chronology of some key events since the Company was incorporated is
set forth below:

Year Event

Mar, 2000 Our Company was incorporated as a public limited Company.
April, 2002 We acquired the Land for Development of our "Shivam" Project
May, 2002 We got the Sanction of Term Loan of Rs. 45 mn from Canara Bank, Colaba
Branch
April, 2004 We got the ISO 9001:2000 certification for Quality Management System from
KPMG
April, 2004 We acquired 100% sh areholding in OCRPL
December, 2004 We acquired 100% shareholding in OBRPL
February, 2005 Our project "Shivam" was completed
April, 2006 Our Name was changed to "Orbit Corporation Ltd"
May and
June, 2006 We acquired three properties at Worli seaface, Altamount Road and Bandra Kurla
Complex

2007

-Orbit Corporation Limited has appointed Ms. Bhavini Modi, Company Secretary as Compliance Officer of the Company in place of Mr. Vikram Phatarpekar.


2008

- Orbit Corporation Ltd has informed that the Company has increased its Equity holding from 35% to 100% in Orbit Shelter Pvt Ltd.

- Orbit Corporation Ltd has informed that the Company has acquired 100% Equity Shares of Orbit Highcity Pvt Ltd.

- Orbit Corporation Ltd has informed that the Company has acquired 65% Equity stake in Ahinsa Buildtech Pvt. Ltd.


2009

- Board of Directors of the Company at its meeting held on inter alia, has declared an interim dividend of Re. 1/- per Equity Share of Rs. 10/- each.


2010

- The company has won the Annual CNBC AWAAZ - CRISIL - CREDAI Real Estate Awards 2009 in the category of "Best Residential Property" (under 1 lac square feet) for our Villa Orb Project at Darabshaw Lane, Opp Palm Beach School, Mukesh Chowk, Nepensea Road, Mumbai.

- The company has won the Accommodation Times- 24th National Real Estate Award for excellence in Real Estate for the year 2009 in the category of 'Premium Residential Project of the Year' for our Villa Orb Project at Darabshaw Lane, Opp Palm Beach School, Mukesh Chowk, Nepensea Road, Mumbai.

- The company has been awarded with the "Developer of the Year - Residential" Award, instituted by Realty Plus, India's Leading Real Estate Monthly Magazine, at Realty Plus Excellence Awards.

- Directors of the Company have, by passing resolution by circulation, approved the allotment of 54,980,945 Equity Shares as Bonus Equity Shares to the existing Shareholders of the Company in the ratio 1:1 i.e. one fully paid equity share of Rs. 10 each for every fully paid equity shares of Rs. 10/- each held by the shareholders.

- Orbit Corp buying Kilachand house for Rs. 300 cr.

2011

-Ms. Puja Mehta has been appointed as Company Secretary & Compliance Officer of the Company

2012

-Orbit Corp wins Four awards at the PRCI AWARDS 2011-12

-‘Best Luxury / Premium Housing Developer of the Year – West India’ Award

-Orbit Corporation Ltd has accepted recommendation of Acquisition Committee to make Mazda Construction Company Private Limited as a subsidiary.

2013

-Orbit Corp adds another feather in its cap by making its mark at the Estate Summit and Awards 2012 powered by Estate World.
-Prof. Abdus Sattar has been appointed as an additional (Non-Executive Independent) director of the Company.

2014

-Mr. Manoj Raichandani has been appointed as the Chief Financial Officer of the Company.

Find IFSC