Sobha : Real Estate Operations Update for the quarter ended December 31, 2015.

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SOB H A

PASSI ON A l W OR K

January 08, 2016 To,

The Deputy Manager

Department of Corporate Services, BSE Limited

Floor 25, P.J Towers,

Dalal Street, Mumbai -400 001

Scrip Code: 532784

The Manager

National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra East, Mumbai -400 051

Scrip Code: SOBHA

Dear Sir I Madam,

Sub: Real Estate Operations Update for the quarter ended December 31, 2015

With reference to the above captioned subject , please find enclosed a statement containing an update on the real estate operations of the Company for the quaiier ended December 31, 2015.

We request you to kindly take the aforesaid information on record for dissemination through your website.

Thanking you. Yours sincerely,

SOBHA LIMITED (formerly SOBHA DEVELOPERS LTD.)

REGD & CORPORATE OFFICE :'SOBHA',SARJAPUR .MARATHAHALU OUTER RING ROAD (ORR). DEVARABISANAHALLI.BELLANDUR POST BANGALORf: .560 103. INDIA CIN:Lt520 1KAl99SPLCOl 8475 J TEL :[phone] IFAX : +9180 •19320444 J www .sobha.com

SOBHA LIMITED

(Formerly Sobha Developers Limited)

REAL ESTATE OPERATIONAL UPDATE - Q3 FY 2015-16

Season's Greetings and best wishes to all our esteemed stakeholders for a happy and prosperous 2016.

As per recent research reports, theIndian economy, growing at 7.5% per annum, has emerged as the fastest growing economy in the world and is projected to sustain this momentum in the year 2016. However, for the real estate sector, the struggle in the residential space has continued undiminished. The demand in the first nine months of the fiscal has been more subdued as compared to the previous year, with even the festive season in the third quarter, not providing the anticipated impetus for sales.

In this backdrop, we present the performance of the real estate operations of the Company for the quarter ended December 31, 2015.

In Q3'16, the Company achieved new sales of 806,309 square feet valued at 4,783 million with an average realisation of 5,932 per square feet. The new sales volume and value are higher by 22% and 12% as compared to Q3'15. The Bangalore market continues to perform strongly for the Company with steady contribution from Sobha Dream Acres Project. The Company has seen traction in the Thrissur market whereas the performance in the Chennai market was marginally affected by the recent floods. The launch of Group Housing Project in NCR-Gurgaon has been deferred to the current quarter on account of unforeseen approval delays. As a result, there were no project launches during Q3'16 and the new sales achieved is entirely attributable to the ongoing projects of the Company.

We are pleased to inform that our first commercial project, Sobha City Mall, in Thrissur, Kerala became operational during the third quarter of the fiscal. Situated in the midst of Sobha City - the first and the largest integrated township in the State, the mall will offer best-in-class retail and entertainment experience to the people of Kerala.

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It has a total developable area of 448,653 square feet with a total saleable area of 323,265 square feet. Out of the total saleable area, we had earlier sold 64,553 square feet and the leasable area

available to the Company is 258,712 square feet.

The summarised real estate performance for the quarter ended December 31,2015 is given as under:

New Sales:

In Square Feet

Location	Q3 16	Q3 15	Q2 16	9M 16	9M 15	FY 15
Bangalore	616,742	525,369	605,985	1,923,210	1,614,423	2,441,493
NCR	9,786	9,464	11,941	28,833	54,106	80,540
Chennai	93,143	27,124	115,816	275, 116	111,847	197,965
Thrissur	39,774	12,765	19,757	62,749	105,757	121,847
Pune	12,617	23,588	17,365	51,887	83,490	108,300
Coimbatore	4,884	5,904	10,659	18,152	42,813	52,630
Cochin	6,114	17,807	25,810	37,463	91,497	101,077
Calicut	19,453	14,781	36,896	82,018	74,848	87,377
Mysore	3,796	24,650	6,100	18,608	71,440	87,774
TOTAL	806,309	661,452	850,329	2,498,036	2,250,221	3,279,003

1Square Metre = 10.764 Square Feet)

The Company's performance in the first nine months has been 11 % higher than 9M'15.

Sales Value:

Particulars	Q3 16	Q3 15	Q2 16	9M 16	9M 15	FY 15
Total Sales value (	5,137	4,631	5,332	22,257
					15,787	15,776
Sales Value -Sabha Share ( Million)	4,783	4,270	4,950	14,771	14,682	20,950

Price Realisation:

Particulars Q3 16 Q3 15 Q2 16 9M 16 9M 15 FY 15

Average Price Realisation -

Total (I Square Feet) 6,371 7,002 6,270 6,320 7,011 6,788

Price Realisation - Sabha Share 5,932 6,456 5,822 5.9..1.3.... 6,525 6,389 (I Square Feet) /.,. I;,._

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The Company had set a guidance of new sales area of 4 Million square Feet valued at t 26 Billion for the current fiscal. At the close of 3 quarters of FY'16, the Company has registered new sales area of

2.50 Million Square Feet valued at t 14.77 Billion. n the context of the current operating scenario, we expect a consequential impact on the Company's performance vis-a-vis the guidance set for the financial year 2015-16.

We believe that as the macro environment continues to improve and its effect eventually percolates to the real estate sector, the Company's performance will begin to reflect a corresponding growth as well. Further, we maintain an optimistic outlook on the long-term prospects of the sector.

Investor Contact Details:

Subhash Mohan Bhat Chief Financial Officer Mobile: [phone]

Email: [e-mail]

K. Bala Murugan

Senior Manager Investor Relations Mobile: [phone]

Email: [e-mail]

Disclaimer: The information in this update contains certain forward-looking statements. These include statements regarding outlook on future development schedules, business plans and expectations of capital expenditure. These statements are based on current expectations that involve a number of risks and uncertainties which could cause actual results to differ from those anticipated by the Company.