Orbit Corp Ltd Eyes Redevelopment Opportunities in South Mumbai
Orbit Corp Ltd, a prominent real estate developer, is poised to capitalize on the robust demand for redevelopment projects in South Mumbai. The company anticipates incorporating new projects valued between 8 and 10 billion rupees into its portfolio during the 2008/09 fiscal year. This strategic move reinforces Orbit Corp Ltd's commitment to its primary area of operation, South Mumbai.
Strong Revenue Growth Projected Despite Market Slowdown
The developer, specializing in upscale apartments and office spaces within the city's most affluent neighborhoods, projects a minimum revenue surge of 25 percent in the current fiscal year. This optimistic outlook stands in contrast to reports of a decelerating real estate market in Mumbai. Orbit Corp Ltd's finance head affirmed this growth trajectory on Tuesday, underscoring the firm's resilience amidst market fluctuations.
Expansion Plans Include Beach-Front Projects and Coastal Township
In addition to its redevelopment focus, Orbit Corp Ltd is strategically expanding its footprint along the Mumbai coastline. The company is actively pursuing beach-front projects, leveraging the increasing demand for such properties. Furthermore, it is in the process of securing land for an extensive 200-acre coastal township development in Mandwa, south of Mumbai. This ambitious undertaking highlights the company's long-term vision and commitment to delivering innovative and high-demand real estate offerings. This expansion strategy further solidifies the company's position as a key player in the Mumbai real estate market.