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Orbit Corporation
BSE: 532837|NSE: ORBITCORP|ISIN: INE628H01015|SECTOR: Construction & Contracting - Real Estate
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Chairman's Speech (Orbit Corporation) Year : Mar '11
Dear Shareholders,
 
 Year 2010-11 was the year of major economic upheaval, marked by
 sluggish growth, global uncertainties and low market sentiments. During
 such times, it requires great prudence and discretion to stay the
 course, while bearing the hurdles and difficulties of an economic
 turmoil. It becomes more important to continuously tread the intended
 path even if it calls for unassuming leaps.
 
 Amidst this environment, your company has not only successfully stayed
 on its course but has also sought to explore newer avenues. As I
 indicated in my previous years message, every dark cloud has a silver
 lining, your company utilized the opportunity to realign itself during
 the crises, so as to channelize its strengths and execute its strategy.
 
 As a result, your company is now at a strategic advantage to reap the
 benefits of the efficiencies built over the period. The future augurs
 well since the markets have shown signs of improvement and the sectoral
 growth bids fair to touch the rising curve.
 
 A strong pipeline, proactively built over the years at premium
 locations of the city in conjunction with improved internal
 capabilities, prepared your company well in time to remain competitive
 and responsive to market dynamics. Such efficiencies not only led to
 sustained profitability but also increased immunity of your company
 towards dodgy business cycle of the sector. We believe that with this
 focussed strategy, supported by the four pillars of our business:
 Quality, Innovation, Technology and People, your company will continue
 to reap benefits in the times to come.
 
 We continue to employ green and sustainable technology and practices as
 a token of our commitment to the steady amelioration of our natural
 environs. I take pleasure, therefore, to inform you that during
 financial year 2011, we have implemented the GO GREEN INITIATIVE of the
 Ministry of Corporate Affairs.
 
 Going ahead, with the consent of our shareholders, we intend to send
 various notices and documents to them at their registered e-mail
 addresses. I take this opportunity to encourage you to increasingly use
 electronic means for correspondence and actively participate in making
 this initiative a huge success.
 
 This year, we also pay homage to Shri Davendra Ahuja Ji, whose sad
 demise not only creates a lacuna in our hearts but also deprives our
 organization of the energy and experience that he brought to bear on
 the agenda. He will always be remembered for his valuable contributions
 to our organization as the chairman of Audit Committee and as an
 Independent Director.
 
 I would also hereby like to welcome Shri Satish Chandra Gupta as an
 esteemed addition to our Board and hope that the organization will
 continue to benefit by his unique expertise and entrepreneurial acumen.
 
 We continuously strive to protect the interest of our stakeholders and
 create great value for them through our business. It is a matter of
 pride for us to announce the completion of our Employee Stock Option
 Scheme and to propose a 10% year end dividend for our shareholders
 during this tumultuous period.
 
 We would like to thank hereby, all our shareholders, valuable clients,
 bankers, institutional investors and Orbit family members for reposing
 their trust in not only our performance but also our potential. We are
 grateful to them for standing strong by our side during these uncertain
 and trying circumstances. We look forward to your continued support as
 we navigate into a more prosperous future.
 
                                     Mr Ravi Kiran Aggarwal
 
                                     Chairman & Executive Director 
 
                                     Mumbai, 27th June, 2011
 
Source : Dion Global Solutions Limited
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