,,,1, :\I'/( l't

Date: June 27, 2020

The Deputy Manager	The Manager
Department of Corporate Services,	National Stock Exchange of India Limited
BSE Limited	Exchange Plaza, Plot No. C/1, G Block,
Floor 25, PJ Towers,	Bandra Kurla Complex, Handra East,
Dalal Street, Mumbai ---400 001	Mumbai --400 051
Scrip Code: 532784	Scritl Code: SOBBA

Dear Sir/ Madam,

Sub: Outcome of Board Meeting held on .June 27, 2020

A. This is to inform that the Board of the Directors at their meeting held today, 1.e. Saturday, June 27, 2020, have:
- I. Approved the Audited Standalone and Consolidated Financial Results for the quarter and financial year ended March 31, 2020.
- 1. Recommended dividend of~ 7 per equity share of~ l O each subject to the approval of the rncrnbers.
- 1. Approved alteration of Object Clause or the Memorandun1 or Association of the Company subject to approval of the Shareholders.
- 1. Convening the Twenty Fifth Annual General Meeting of the Company on Friday, August 07, 2020.

B. In this connection, please find enclosed herewith:

1. Audited Consolidated Financial Results for the quarter and financial year ended March 31, 2020 along with the Statutory Audit Report.
1. Audited Standalone Financial Results for the quarter and linancial year ended March 31, 2020 along with the Statutory Audit Report.
1. Details of the alteration proposed to the Object Clause of the Mernorandum of Association (Please refer Annexure A).
1. Presentalion on the Operations and Financial R.esults in terms of Regulation 46 of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015.
1. Press Release, the Company intends to disseminate through m.edia.

s«:.:oauM uil'nnm

C. Pursuant to Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as a1ne11ded, we hereby declare that the Auditors of the Company have issued their reports with unmodified (i.e. unqualified) opinion on the Financial Statements (Standalone & Consolidated) for the year ended March 3 I, 2020.
D. The Board Meeting commenced at 2.00 PM and concluded at 4.30 PM.

Kindly take the aforesaid information on record in compliance of SEHi (Listing Obligations and Disclosure Requirements), Regulations 2015.

Thanking you.

Yours sincerely,

FOR SOBHA LIMITED

VIGHNESHWAR G BHAT COMPANY SECRETARY AND COMPLIANCE OFFICER

Annexure A

(i) The existing Main Objects of Clause III (A) be altered by inserting following sub clause Nos. 7 after the existing sub clause No. 6 of Clause III (A) 'THE OBJECTS TO BE PURSUED BY THE COMPANY ON ITS INCORPORATION'.
- 1. To act as an agent, middleman, or a broker for the purpose of selling, leasing, renting, rental housing or dealing, appraising, maintaining, operating and marketing of any real estate property, land, housing projects, buildings, blokes, flats apartments, bungalows, row houses hutments, industrial estates, factories, workshops godowns, warehouses, hotels stores, offices, shops places of sports, entertainment, hospitals garages, business premises, plots plotted lands and structures whether Industrial, residential or commercial either individually or as joint venture or collaboration with any other person; Construction and developrnent of real estate, infrastructure projects encompassing activities that range from the renovation and re--lease of existing buildings to the purchase of raw land and the sale of improved land or parcels to others such as residential, commercial, or industrial property either individually or as joint venture or collaboration with any other person and to rent, lease or sell the same and realize cost in lumpsum or easy installments or by hire purchase system and otherwise.
(ii) The Clause Ill (B) of the Memorandum of Association of the Company, be renamed as "Clause 111 (B) MATTERS WHICH ARE NECESSARY FOR FURTHERANCE OF THE OBJECTS SPECIFIED IN CLAUSE Ill (A).
(iii) To merge appropriate and relevant Objects of the Memorandum of Association, mentioned under Clause III (C) ··· 'Other Objects' with Clause III (B) - MATTERS WHICH ARE NECESSARY FOR FURTI fERANCE OF THE OBJECTS SPECIFIED IN CLAUSE Ill (A) and consequently changing the object numbering as may be appropriate.
(iv) The title of the existing Clause Ill C "OTHER OBJECTS" to be deleted.

Chartered Accountants

Embassy Golf Links Business Park Pebble Beach, B Block, 3rd Floor Off Intermediate Ring Road Bengaluru 560 071 India

Telephone +91 80 4682 3000 Fax +91 80 4682 3999

INDEPENDENT AUDITORS' REPORT

To the Board of Directors of Sobba Limited

Report on the audit of the Consolidated Annual Financial Results

Opinion

\V c have audited the accompanying consolidated annual financial results of Soblrn Limited (hcrcinaJlcr referred to as the "Holding Company") and its subsidiaries (Holding Company and its subsidiaries together referred to as "the Group"), its joint venture, as listed in Anncxurc I, for the year ended 31 March 2020, ,1ttachcd herewith, being submiltecl by the Holding Company pursuant to the requirement of Rcguhtion 33 and Regulation 52 of the SEBJ (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').

In our opinion and to the best or our information and according to the explanations given to us and b,1scd on the consiclcrntion of reports of other auditors on separate audited financi:11 sl,1tcments of the subsidiaries and joint venture, the aforesaid consolidated annual financial results:

n. include the annual financial results of the entities mentioned in Anncxurc J;
b. nrc presented in nccordancc with the requirements of Regulation 33 and Regulation 52 of1l1c Listing Rcgul,1tions in this regard; ,rnd
c. give a true nncl foir view in conformity with the recognition and measurement principles laid down in the applicable Jnclinn Accounting S1,mdr1rds, and other accounting principles gcncrnlly accepted in lndin, of consolidated net profit and other comprehensive income and other Jfo:mcial information of the Group and its joint venture for the year ended 31 March 2020.

Basis for Opinion

\Ve conducted our nuclit in ncconlancc with the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those SAs arc further described in the Auditor's Rcspo11.1·ihilitiesfi>r the Audit o/thc Consolidated Annual Financial Results section of our rcpor!. We arc inclcpcnclcnt of the Group and its joint venture in accordance with the Code of Ethics issued by the Institute of Chartered Accountants oflndin together with the ethical requirements that arc relevant to our audit of the financial statements under the provisions of the Act, and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe thnt the audit evidence obtained by us along with the consideration of audit reports of the other auditors referred to in sub paragraph ( a) of the "Other Matters" paragraph below, is sufficient and appropriate to provide a basis for our opinion on the consolidated annual financial results.

Registered Office: 6th Floor, Lodha Exoolus Apollo Mms Compound N M Joshi Marg, Mahalakshmi

INDEPENDENT AUDITORS' REPORT (continued)

Management's and Board of Directors' Responsibilities for the Consolidated Annual Financial Results

These consolidated annual financial results have been prepared on the basis of the consolidated annual financial statements.

The Holding Company's Management and the Board of Directors are responsible for the preparation ,me! presentation of these consolidated annual financial results that give a true and fair view of the consolidated net profit / loss and other comprehensive income and other financial information of the Croup and its joint venture in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act and other accounting principles gcncrnlly accepted in India and in compliance with Rcgulntion 33 and Rcgul,1tion 52 of the Listing Regulations. The respective Management nnd Board or Directors of the companies included in the Croup and its joint venture arc responsible for maintenance of adequate accounting records in accordance with the provisions or the Act for safeguarding or the nsscts of each company and for preventing and detecting frauds and other irrcgul,1ritics; selection and application of appropriate accounting policies; making judgments and estimates that arc reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated nnnual financial results that give a true and fair view and arc free from material misstatement, whether due to fr,rnd or error, which have been used for the purpose of prcpar:1tion of the consoliclatccl ,rnm1:1l J'in,rnci,11 results by the Mnnagemcnt and the Directors of the l Jolding Company, as aforesaid.

Jn prcpming the consolidated annual financial results, the 1\1.lnagement and the respective Board of Directors of the companies included in the Group and its joint venture are responsible for assessing the ability of each company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the company or to cc,isc operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group and its joint venture is responsible for overseeing the financial reporting process of each company.

Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results

Our objectives are to obtain reasonable assurance about vvhether the consolidated annual financial results as a whole arc free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a materinl misstatement when it exists. Misstatements can arise from fraud or error and are considered material it: individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated annual financial results.

INDEPENDENT AUDITORS' REPORT (continued)

Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results (continued)

As part of an audit in accordance ·with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. \Ve also:

**n**Identify and assess the risks or material misstatement or the consolidated annual financial rcsul!s, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a m;itcrial misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
~Obtain an understanding of internal control relevant to the audit in order to design audit procedures that arc appropriate in the circumstances. Under Section 143(3)(i) or the Act, we arc nlso responsible for expressing our opinion through a separate report on the complete set of financial st,itements on whether the Holding Company has acleqrnite internal financial controls with reference to finrn1cial statements in place and the opcrnting effectiveness of such controls.
Evaluate the appropri,iteness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated financial results made hy the Management and Bo,ircl of Directors.
Conclude on the appropriateness of the Management and Board of Directors use of the going conecrn b;1sis of accounting and, based on the audit cvidcnec obtained, whether a nrnteri,11 unccrt;1i111y exists rcl,1tcd 10 events or conditions tlrnt may cast sig11ificmt doubt on the appropriateness of this ;1ssumption. lfwc conclude that ;1 material uncertainty ,:xi~;ts, we ;ire required to draw attention in our auditor's report to the rel,itcd disclosures in the co11solicbtcd ,rnnual financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions arc based on the audit evidence obt,iined up to the date of our auditor's report. However, future events or conditions may c;rnse the C3rm1p and its joint venture to cease to continue ;is a going concern.
Evaluate tl1e overall prcscntntion, structure and content of the consolidated annu;ll fi11ancinl results, including the disclosures, and whether the consolidated annual financial results represent the underlying transactions and events in a manner that achieves fair presentation.
eObt,1in sufficient ,lppropriatc audit evidence regarding the financial results/financial inJ'ormation of the entities within the Group and its joint venture to express an opinion on the consolidated annual financial results. We arc responsible for the direction, supervision and performance of the audit of financial information of such entities included in the consolidated financial results of which ,ve are the independent auditors. For the other entities included in the consolidated annual financial results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion. Our responsibilities in this regard are further described in para (a) of the section titled "Other Matters" in this audit report.

INDEPENDENT AUDITORS' REPORT (continued)

Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results (continued)

We communicate with those charged with governance of the Holding Company and such other entities included in the consolidated annual financial results of which ,ve arc the independent auditors regarding, among other matters, the planned scope rmd timing of the audit and significant audit findings, incl t1Cling ;my significant deficiencies in internal control tlrnt we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

We ,ilso performed procedures in ;1ccordancc with the circular No CIR/CFD/CMDl/44/2019 issued by the Sl:BJ under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

Other Matters

(a) The consolidated annual financial results include the audited financial results of 18 subsiclinrics (including step down subsidiaries), whose financial statements reflect total assets (before consolidation acljuslmenls) of Rs. Rs. 8,061.57 million as al 31 March 2020, lotnl revenue (before consolidation adjustments) of Rs. 493.04 million and tot;1l net profit ;1/ter tax (before consolid:11inn adjustments) of Rs. 84.96 million :md net c;1sh inflows of Rs 79.39 million for the ycnr ended on 1h:1t date, as consiclcrccl in the consolidated rnmual financial results. The independent m1clitnrs' reports on financinl statements of these entities have been furnished to us by the nrnnagcrncnt :md our opinion on the consolid:itcd mrnunl fin:mci:1I results, in so far as it relates to the ;irnounts :md disclosures included in respect of these cntitiL·s, is based solely on the report of such auditors ;md the procedures performed by us arc ;is staled in p;1r:1graph above.
(b) The consolidated nnnu;il financi,1] results ;1lso include the Group's share of net profit/ loss aJtcr t:n (before consolicbtion adjustments) of Rs. Nil for thL'. year ended 31 March 2020, as considered in the consolidated annual fowncinl results, in respect of a joint venture. The unaudited financial information has been furnished to us by the Board of Directors and our opinion on the consolidated annual financial results, in so far as it relates to the amounts and disclosures included in respect of the joint venture is based solely on such annual financial information. ln our opinion and according to the information and explanations given to us by the Board of Directors, the financial information is not material to the Group.

Our opinion on the consolidatccl annunl financial results is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditors and the financial results/financial information ce1iified by the Board of Directors.

INDEPENDENT AUDITORS' REPORT (continued)

Others Matters (continued)

(c) The consolidntcd ;rnnual financial results include the results for the qu;irtcr ended 31 March 2020 being the bal;rncing figure bet,veen the m1dited figures in respect of the full financial year and the published unaudited yc;1r to date figures up to the third quarlcr of the current financial year which were subject to limited review by us.

Ji)/· B S R & Co. LLP

Chartered Acco1111t1111t.1· l CA] Firm registration number: 101248W /W-1 00022

Amrit Bhansali P11rt11er Membership number: 065155 UDJN: 20065 l 55AAAADL9780

Bangalore 27 June 2020

INDEPENDENT AlJDITORS' REPORT (continued)

Annexure 1: List of subsidiaries and joint venture

	Subsidiaries of Sobha Limited
Sl.No.	Name of the subsidiary
	Sobha City
	Sobha Highrise Ventures Private Limited
	Sobha Developers (Pune) Limited
	Sobha Assets Private Limited
	Sobha Tambaram Developers Limited
	Sobha Nandambakkam Developers Limited
	Sobha Construction Products Private Limited

Subsidiaries of Sohha Citv

SLNo.	Name of the subsidiary
	Vayaloor Properties Private Limited,
	Vayaloor Builders Private Limited,
	Vayaloor Developers Private Limited
	Vayaloor Real Estate Private Limited
	Vayaloor Realtors Private Limited and
	Valasai Vettikadu Realtors Private Limited

Subsidiary of Sobha Highrise Ventures Private Limited

SL No	. Name of the subsidiary $\overline{a}$
	4 Sobha Contracting Private Limited--------------------------------------

, S u l >SH . I' iary o · , o > rn eve opers une ,ll1ll e( ····~~--- rs l l D (P ) I . ·1

-SL No	Name of the subsidiary
	Kilai Builders Private Limited
	Sobha Interior Private Limited
	Kuthavakkam Realtors Private Limited
	Kuthayakkam Builders Private Limited

.Joint venture of Sob ha Limited

$\overline{\phantom{a}}$ SL. No	Name of the joint venture
	Kondhwa Projects LLPand the contract of the contract of the contract of the contract of the contract of

SOBHA LIMITED

Corporate Identity Number (CIN) : L45201KA1995PLC018475 Regd. Office: 'SOBHA', Sarjapur – Marathahalli Outer Ring Road (ORR), Devarabisanahalli, Bellandur Post, Bangalore - 560 103

Ph: +91-80-49320000 Fax: +91-80-49320444 Email: [email protected]

Website: www.sobha.com

Statement of consolidated financial results for the quarter and year ended on 31 March 2020

						(` in million)
	Particulars	3 months ended31.03.2020[Audited]*	Preceding 3months ended31.12.2019[Unaudited]	Corresponding 3months ended31.03.2019[Audited]*	Year to datefigures forcurrent yearended 31.03.2020[Audited]	Previous yearended 31.03.2019[Audited]
1	Revenue
	(a) Revenue from operations(b) Other income(c) Finance income	9,1019283	8,83273107	13,97814494	37,539288430	34,421348387
	Total income	9,276	9,012	14,216	38,257	35,156
234	Expenses(a) Land purchase cost(b) Cost of raw materials and components consumed(c) Purchase of project materials(d) (Increase)/ decrease in inventories(e) Subcontractor and other charges(f) Employee benefits expense(g) Depreciation and amortization(h) Finance cost**(i) Other expensesTotal expensesProfit before tax (1-2)Tax expense(a) Current tax(b) Deferred tax charge / (credit)	3866922,190(380)2,0526001881,7181,0168,46281425948	852666943(104)2,0435821821,7009847,8481,16450382	2739942,9492,6482,6586561597581,36512,4601,756204419	4,2683,0027,216(3,412)8,8362,4647236,8164,01433,9274,3304521,063	1,0302,75610,856(2,944)8,8632,3596232,3624,76830,6734,483987525
	Total tax expense	307	432	623	1,515	1,512
5	Profit for the period (3-4)	507	732	1,133	2,815	2,971
6	Other comprehensive incomeItems that will not be reclassified to profit or loss in subsequent periods:Re-measurement gains/ (losses) on defined benefit plan (net of tax expenses)Total other comprehensive income	(1)(1)	55	(1)(1)	55	(8)(8)
7	Total comprehensive income for the period [comprising profit for the period (after tax)and other comprehensive income (after tax)] (5+6)	506	737	1,132	2,820	2,963
8	Paid-up equity share capital(Face value per share - ` 10)	948	948	948	948	948
9	Other equity				23,364	21,343
10	Net worth				24,312	22,291
11	Earnings Per Share (EPS) - (in `)Basic and diluted EPS (not annualised for the quarters)	5.35	7.72	11.95	29.69	31.33

* refer note 5

Also refer the notes to the consolidated financial results

** Includes notional interest accrued on advance from customers as per Ind AS 115 amounting to 878 million, 882 million for the three months ended 31 March 2020, 31 December 2019 respectively and ` 3,558 million for the year ended 31 March 2020.

			(` in million)
	Particulars		As at 31.03.2020 As at 31.03.2019

A	Assets
1	Non- current assets

	Property, plant and equipment	4,631	2,842
	Right of use assets	128	-
	Investment property	1,881	1,905
	Investment property under construction	2,323	1,900
	Intangible assets	232	127
	Investments	1,143	1,128
	Financial assets
	Investments
	Trade receivables	141	84
	Other non-current financial assets	162	182
	Other non-current assets	5,181	5,107
	Current tax assets (net)	113	87
	Deferred tax assets (net)	21	1,009

		15,956	14,371
2	Current assets
	Inventories	67,045	65,173
	Financial assets
	Trade receivables	3,605	3,271
	Cash and cash equivalents	675	1,645

	Bank balance other than cash and cash equivalents	209	127
	Other current financial assets	8,310	5,699
	Other current assets	14,323	17,185
		94,167	93,100
	Total assets	110,123	107,471
B	Equity and liabilities
1	Equity
	Equity share capital	948	948
	Other equity	23,364	21,343

	Total equity	24,312	22,291
2	Non-current liabilities
	Financial liabilities
	Borrowings	2,378	48

	Lease liabilities	61	-
	Long-term provisions	145	121
	Deferred tax liabilities (net)	311	74
		2,895	243
3	Current liabilities
	Financial liabilities
	Borrowings	28,625	24,379


	Lease liabilities	74	-
	Trade payables
	Total outstanding dues of micro enterprises and small enterprises; and	-	-
	Total outstanding dues of creditors other than micro enterprises and small enterprises	9,567	11,328

	Other current financial liabilities	4,937	6,477
	Other current liabilities	39,293	42,048
	Liabilities for current tax (net)	269	555
	Provisions	151	150
		82,916	84,937
	Total liabilitiesTotal equity and liabilities	85,811110,123	85,180107,471

(2) The consolidated statement of cash flows is as below:

		(` in million)
Particulars	Year to datefigures forcurrent yearended 31.03.2020[Audited]	Previous yearended 31.03.2019[Audited]
Cash flows from operating activities
Profit before tax	4,330	4,483
Adjustments to reconcile profit before tax to net cash flows from operating activities
Depreciation and amortization expense	680	582
Depreciation of investment properties	43	41
(Gain)/ loss on sale of property, plant and equipment	(4)	(7)
Finance income (including fair value change in financial instruments)	(430)	(387)
Finance costs (including fair value change in financial instruments)	6,595	2,147
Allowance for credit loss	239	26
Bad debts written off	9	-
Working capital adjustments:
(Increase)/ decrease in trade receivables	(623)	152
Increase in inventories	(3,158)	(4,879)
(Increase)/ decrease in other financial assets	(2,550)	2,675
(Increase)/ decrease in other assets	2,456	(418)
Increase/ (decrease) in trade payables and other financial liabilities	(1,742)	4,805
Increase/(decrease) in provisions	25	(35)
(Decrease)/ increase in other non-financial liabilities	(2,756)	(6,243)
Cash generated from operating activities	3,114	2,942
Income tax paid (net of refund)	(1,063)	(882)
Net cash flows from operating activities	2,051	2,060
Cash flows from investing activities
Purchase of property, plant and equipment	(2,452)	(1,083)
Proceeds from sale of property, plant and equipment	5	44
Purchase of investment properties	(19)	(111)
Amount contributed to partnership current account	(14)	(4)
(Investments in)/ redemption of bank deposits - net	(128)	152
Interest received	430	388
Net cash flows used in investing activities	(2,178)	(614)
Cash flows from financing activities
Repayment of long-term borrowings	(1,002)	(1,375)
Proceeds from short-term borrowings	24,969	20,314
Repayment of short-term borrowings	(20,663)	(16,233)
Lease payments	(50)	-
Finance cost paid	(3,299)	(2,768)
Dividends paid on equity shares	(664)	(663)
Tax on dividend paid	(136)	(136)
Net cash flows used in financing activities	(845)	(861)
Net increase/ (decrease) in cash and cash equivalents	(972)	585
Cash and cash equivalents at the beginning of the period	1,645	1,060
Cash inflow due to acquisition of subsidiary	2	-
Cash and cash equivalents at the end of the period	675	1,645

(3) Based on the "management approach" as defined in Ind AS 108 - Operating Segments, the Chief Operating Decision Maker (CODM) evaluates the Group's performance and allocates resources based on an analysis of various performance indicators by business segments. Accordingly, information has been presented along these business segments viz., Real estate and Contractual and manufacturing business. Details of consolidated segment-wise revenue, results, assets and liabilities is given below:

	(` in million)
		3 months ended	3 months ended	Corresponding 3	Year to date	Previous year
		31.03.2020	31.12.2019	months ended	figures for	ended 31.03.2019
		[Audited]*	[Unaudited]	31.03.2019	current year	[Audited]
	Particulars			[Audited]*	ended 31.03.2020
					[Audited]

I	Segment revenue
	Real estate	4,307	5,766	10,173	22,801	22,653
	Contractual and manufacturing	5,090	3,331	4,201	15,907	12,908
	Total	9,397	9,097	14,374	38,708	35,561
	Less: Inter segment revenues	(296)	(265)	(396)	(1,169)	(1,140)
	Net revenue from operations	9,101	8,832	13,978	37,539	34,421

II	Segment results
	Real estate	1,836	2,593	2,319	9,808	5,680
	Contractual and manufacturing	1,021	652	468	2,972	2,226
	Profit before other adjustments	2,857	3,245	2,787	12,780	7,906
	Less: Finance cost	(1,718)	(1,700)	(758)	(6,816)	(2,362)
	Less: Other unallocable expenditure	(501)	(561)	(511)	(2,352)	(1,796)
	Add: Finance and other income	176	180	238	718	735
	Profit before tax	814	1,164	1,756	4,330	4,483
III	Segment assets #
	Real estate	97,121	95,968	91,324	97,121	91,324
	Contractual and manufacturing	8,072	8,645	6,999	8,072	6,999
	Unallocated assets	4,930	5,295	9,074	4,930	9,074
	Total assets	110,123	109,908	107,397	110,123	107,397
IV	Segment liabilities #
	Real estate	47,921	48,640	50,552	47,921	50,552
	Contractual and manufacturing	5,196	4,246	6,603	5,196	6,603
	Unallocated liabilities	32,694	33,218	27,951	32,694	27,951
	Total liabilities	85,811	86,104	85,106	85,811	85,106

* refer note 5

Capital employed = Segment assets - Segment liabilities

(4) The figures of standalone financial results are as follow:

					(` in million)
	3 months ended	3 months ended	Corresponding 3	Year to date	Previous year
Particulars	31.03.2020	31.12.2019	months ended	figures for	ended 31.03.2019
	[Audited]*	[Unaudited]	31.03.2019	current year	[Audited]
			[Audited]*	ended 31.03.2020
				[Audited]

Total income	9,273	8,931	14,369	38,305	34,347
Profit before tax	908	1,132	1,786	4,410	4,320
Profit for the period	532	762	1,150	2,894	2,866

(5) The consolidated financial results for the year ended 31 March 2020 has been audited by Statutory Auditors of the Company and they have issued an unmodified audit report. The audit report of the Statutory Auditors is being filed with Bombay Stock Exchange and National Stock Exchange and is also available on the Company's website www.sobha.com. The figures for the quarter ended 31 March 2020 and the corresponding quarter ended in the previous year are the balancing figures between the audited figures in respect of the year ended 31 March 2020 and the published year to date figures up to the end of the third quarter of the relevant financial year. Also, the figures up to the end of third quarter has only been reviewed and not subjected to audit.

(6) The audited consolidated financial results for the year ended 31 March 2020 have been reviewed by the Audit Committee and taken on record by the Board of Directors of the Group at its meeting held on 27 June 2020. The figures for the quarter and nine months ended 31 December 2019 was subject to 'Limited Review' by Statutory Auditors of the Company who have expressed an unqualified review opinion. The information presented above is prepared in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016. The above audited consolidated financial results are filed with Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015 and are available on the Stock Exchange websites, www.nseindia.com and www.bseindia.com, and on the Company's website, www.sobha.com.
(7) Effective 1 April 2019, the Group adopted Ind AS 116 "Leases", applied to all lease contracts, except leases which are expiring less than 12 months on 1 April 2019 using the modified retrospective method without taking the cumulative adjustment to retained earnings. Accordingly, the comparatives for the year ended 31 March 2019 have not been retrospectively adjusted.

On transition, the adoption of the new standard resulted in recognition of Right-of-Use asset (ROU) of 128 million and 184 million as at 31 March 2020 and 1 April 2019 respectively and a corresponding lease liability of 134 million and 184 million as at 31 March 2020 and 1 April 2019 respectively. The net effect of adoption has resulted in an increase in cost by ` 4 million (net of tax).

(8) The Group has elected to exercise the option permitted under section 115BAA of the Income-tax Act, 1961 as introduced by the Taxation Laws (Amendment) Ordinance, 2019. Accordingly, the Group has recognised liabilities for current tax for the year ended 31 March 2020 and re-measured its Deferred tax asset basis the rate prescribed in the said section.
(9) Due to the outbreak of Coronavirus Disease (COVID-19), the Government of India declared lock-down on 23 March 2020 and the Group had to suspend the operations in all ongoing projects in compliance with the lockdown instructions issued by the Central and respective State Governments. This impacted the normal business operations of the Group by way of interruption in projects execution, supply chain disruption and unavailability of personnel during the lock-down period.

The Group has considered the possible impacts on the carrying value of assets. The Group, as at the date of these financial results has used internal and external sources of information to assess the expected future performance of the Group. The Group has also performed a sensitivity analysis on the assumptions used and based on the current estimates, the Group expects that the carrying amount of these assets reported in the balance sheet as at 31 March 2020 are fully recoverable. The Group has also estimated the future cash flows with the possible effects that may result from the COVID-19 pandemic and does not foresee any adverse impact on realising its assets and meeting its liabilities as and when they fall due. The actual impact of the COVID-19 pandemic may be different from that estimated as at the date of approval of these financial results.

The Central and State Governments have initiated steps to relax the lock-down restrictions and the Group is adhering to the same. The Group resumed its operations albeit in a reduced capacity from 4 May 2020. The Group will continue to closely observe the evolving scenario and take into account any future developments arising out of the same.

(10) The Board of Directors of the Company have recommended a final dividend of ` 7 per equity share for the year ended 31 March 2020, which will be placed for approval of the shareholders in the ensuing Annual General Meeting of the Company.
(11) The previous year figures have been regrouped / reclassified, wherever necessary, to conform to the current quarter and year end presentation.

For and on behalf of the Board of Directors of Sobha Limited

Bengaluru, India J. C. Sharma

27 June 2020 Vice Chairman and Managing Director

Chartered Accountants

Embassy Golf Links Business Park Pebble Beach, B Block, 3rd Floor Off Intermediate Ring Road Bengaluru 560 071 India

Telephone +91 80 4682 3000 Fax +91 80 4682 3999

INDEPENDENT AlJDITORS' REPORT

To the Boan! of Directors of Sobha Limited

Report on the audit of the Standalone Annual Financial Results

Opinion

W c have audited the accompanying standalone annual financial results of Soblrn Limited (hereinafter referred to as the "Company") !'or the year ended 31 March 2020, at1ached herewith, being subrni!1ed by the Company pursuant to the requircmen1 of Regulation 33 and Regulation 52 of the SEBJ (Lis1ing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations').

Jn our opinion and to the best of our information and according lo 1hc explanations given to us, 1he aforesaid standalone ,mnu,11 financial results:

a. arc presented in nceordrn1cc with the requirements of Regulation 33 and Regulation 52 of the Listing Regul,itions in this rcg,ird; ,md
b. give a true and fair view in conformity with the rccogni1ion and measurement principles laid down in the ,1pplicablc lnclian J\ccounting Standards, and other accounting principles generally acccp1cd in lndi;1, of the net profit ,md other comprehensive income and other financial information for the year ended 31 March 2020.

Basis for Opinion

We conducted our ;iudit in ,iccorcLmce with the Standards on Auditing ("SAs") specified under section 143(10) or 1he Companies /\ct, 20] 3 ("the Act"). Our responsibilities under thnsc SJ\s nre further dcscrihccl in the lluclitor 's Respo11sihi/ities .for the Audit c~f the Standillone Annul/1 Financial Results sect ion of our report. W c nrc independent of 1he Company, in accorcbnce with the Code of Ethics issued by the lnstitute of Chartered J\ccountnn1s of India together with the ethical requirements 1ha1 arc relevant to our audit of 1hc fin;rncial statements under the provisions of the /\ct, ,111cl tlic Rules thereunder, ,rnd we have fulf'illccl our other ethical responsibilities in nccorcb1cc witl1 1hcsc requirements and the Code of Ethics. We believe that the audit evidence we have obuiined, is sufficient and ,lpproprinlc to provide n basis for our opinion on the S1anclalone nmrnal financi,11 results.

INDEPENDENT AUDITORS' REPORT

Management's and Board of Directors' Responsibilities for the Standalone Annual Financial Results

These standalone annu<ll financial results have been prepared on the b,1sis of the standalone annual rinmicial statements.

The Company's Management and the Board of Directors arc responsible for the preparation and prcsent;1tion of these standalone annual financial results that give a true and fair view of the net profit/ loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid c!O\vn in lnclian Accounting Standards prescribed under Section 133 of the Act ancl other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52 of the Listing Regulations. This responsibility also includes maintcn,mcc or adequate ,1ccounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate nccounting policies; nrnking judgments and estimates that ,ire reasonable and prudent; and the design, implementation and maintenance or adequate internal financial controls, tlint were operating eff cctively for ensuring accuracy nncl completeness of the nccounting records, relcv;mt to the preparation and presentation of the standalone ;mnual financial results that give a true rn1cl foir view and nre free from material misstntement, whether clue to fraud or error.

In prep,iring the standalone annual financial results, the Management nnd the Board of Directors arc responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicnblc, mallcrs related to going concern and using the going concern b,1sis or accounting unless the Bo,ird of Directors either intends to liquidate the Company or to cease opcr;1tions, or hns no realistic alternative but to do so.

The Board nf Directors is responsible for overseeing the Comp,rny' s finaneinl rcpnrling process.

Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results

Our objectives nrc to obtain rc,1son,1ble nssurance about whether the standalone ,mnu;1] J'in;mcial results as a whole arc free from materi,ll misstatement, whether due to fr;1ud ur error, and to issue ,m auditor's report that includes our opinion. Reasonable assurance is a high level 0L1ssurance but is not a gunrnntcc that an audit concluctccl in accordance with SAs will always detect ,\ material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone ,mnual financi,11 results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the standalone annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

INDEPENDENT AUDITORS' REPORT

Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results (continued)

Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the Company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the standalone financial results made by the Management and Board of Directors.
aConclude on the appropriateness of the Management and Board of Directors use of the going concern basis of' accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast signiricanl doubt on the appropriateness of this assumption. lfwe conclude that a material uncertainty exists, we are required to draw atlcntion in our auditor· s report to the related disclosures in the standalone annual financial results or, if such disclosures arc inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up 10 the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
" Evaluate the overall presentation, structure nncl content of the standalone annual financial results, including the disclosures, ,md whether the slanchlonc annual financial results represent the underlying trnnsnctions and events in a manner that achieves fair prcsentntion.

We cornnrnnicate with those charged with governance regarding, among other matters, the planned scope ,mcl timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those chMgcd with governance witl1 a s1:1tcment that we have complied with relevant ethical requirements regarding indcpl'.t1clcnce, and to communicate with them all rchitionships and other matters th,11 may reasonably 1K'. tliuught to bear on our independence, nnd where applirnble, related safeguards.

Other Matters

The standalone annual financial results include the results for the quarter ended 31 March 2020 being the balancing figure bet,veen the audited figures in respect of the full financial year and the published unaudited year to date figures up to tl1c third quarter of the current financial year which were subj eel to limited review by us.

for B S R & Co. LLP Chartered Accountants ICAI Firm registration number: 101248W/W-100022

. t¼AwJ;::.,/ **-:'n}1 ;1ansali**

Partner Membership number: 065155 UDIN: 20065155AAAADM3542

Bangalore 27 June 2020

SOBHA LIMITED

Corporate Identity Number (CIN) : L45201KA1995PLC018475 Regd. Office: 'SOBHA', Sarjapur – Marathahalli Outer Ring Road (ORR), Devarabisanahalli, Bellandur Post, Bangalore - 560 103

Ph: +91-80-49320000 Fax: +91-80-49320444 Email: [email protected]

Website: www.sobha.com

Statement of standalone financial results for the quarter and year ended on 31 March 2020

						(` in million)
		3 months ended	Preceding 3	Corresponding 3	Year to date	Previous year
		31.03.2020	months ended	months ended	figures for	ended 31.03.2019
	Particulars	[Audited]*	31.12.2019	31.03.2019	current year	[Audited]
			[Unaudited]	[Audited]*	ended 31.03.2020
					[Audited]
1	Revenue

	(a) Revenue from operations	9,065	8,760	14,100	37,558	33,588
	(b) Other income	107	64	142	300	344
	(c) Finance income	101	107	127	447	415
	Total income	9,273	8,931	14,369	38,305	34,347
2	Expenses
	(a) Land purchase cost	385	852	245	4,257	464
	(b) Cost of raw materials and components consumed	692	666	994	3,002	2,756
	(c) Purchase of project materials	2,145	889	2,949	7,297	10,856
	(d) (Increase)/ decrease in inventories	(304)	(51)	2,946	(3,164)	(2,621)
	(e) Subcontractor and other charges	2,054	2,057	2,636	8,833	8,841
	(f) Employee benefits expense	600	582	656	2,464	2,359
	(g) Depreciation and amortization	176	169	151	674	582
	(h) Finance cost**	1,703	1,674	738	6,732	2,293
	(i) Other expenses	914	961	1,268	3,800	4,497
	Total expenses	8,365	7,799	12,583	33,895	30,027
3	Profit before tax (1-2)	908	1,132	1,786	4,410	4,320

4	Tax expense(a) Current tax	253	50	223	444	975
	(b) Deferred tax charge / (credit)	123	320	413	1,072	479
	Total tax expense	376	370	636	1,516	1,454

5	Profit for the period (3-4)	532	762	1,150	2,894	2,866
6	Other comprehensive income
	Items that will not be reclassified to profit or loss in subsequent periods:

	Re-measurement gains/ (losses) on defined benefit plan (net of tax expenses)	(1)	5	(1)	5	(8)
	Total other comprehensive income	(1)	5	(1)	5	(8)
7	Total comprehensive income for the period [comprising profit for the period (after tax)	531	767	1,149	2,899	2,858
	and other comprehensive income (after tax)] (5+6)

8	Paid-up equity share capital	948	948	948	948	948
	(Face value per share - ` 10)
9	Other equity				21,924	19,825
	10 Net worth				22,872	20,773
	11 Paid-up debt capital				-	1,387
	12 Debenture redemption reserve				-	300

	13 Earnings Per Share (EPS) - (in `)
	Basic and diluted EPS (not annualised for the quarters)	5.61	8.03	12.13	30.52	30.23
	14 Debt equity ratio (refer note 7)				1.31	1.22

	15 Debt service coverage ratio (DSCR) (refer note 6)				0.30	0.32

	16 Interest service coverage ratio (ISCR) (refer note 6)				2.39	2.88

* refer note 4

Also refer the notes to the standalone financial results

(1) The standalone balance sheet is as below:

			(` in million)
	Particulars	As at 31.03.2020	As at
		[Audited]	31.03.2019
			[Audited]

A	Assets
1	Non- current assets
	Property, plant and equipment	2,842	2,831
	Right of use assets	128	-
	Investment property under construction	2,323	1,900
	Intangible assets	1	1
	Financial assets
	Investments	3,674	4,163
	Trade receivables	141	84
	Other non-current financial assets	249	174
	Other non-current assets	5,283	5,107
	Deferred tax assets (net)	-	970
		14,641	15,230

2	Current assets
	Inventories	64,235	62,744
	Financial assets
	Trade receivables	3,522	3,125
	Cash and cash equivalents	597	1,605
	Bank balance other than cash and cash equivalents	207	126
	Other current financial assets	8,487	5,697
	Other current assets	13,742	16,944
		90,790	90,241
	Total assets	105,431	105,471

B	Equity and liabilities
1	Equity
	Equity share capital	948	948
	Other equity	21,924	19,825
	Total equity	22,872	20,773

2	Non-current liabilities
	Financial liabilities
	Borrowings	1,575	48
	Lease liabilities	61	-
	Long-term provisions	145	121
	Deferred tax liabilities (net)	264	-
		2,045	169

3	Current liabilities
	Financial liabilities
	Borrowings	28,345	23,701
	Lease liabilities	74	-
	Trade payables
	Total outstanding dues of micro enterprises and small enterprises; and	-	-
	Total outstanding dues of creditors other than micro enterprises and small enterprises	9,597	11,240
	Other current financial liabilities	4,287	5,993
	Other current liabilities	37,791	42,890
	Liabilities for current tax (net)	269	555
	Provisions	151	150
		80,514	84,529
	Total liabilities	82,559	84,698
	Total equity and liabilities	105,431	105,471

Notes :

(2) The standalone statement of cash flows is as below:

Year to datePrevious yearfigures forended 31.03.2019current year[Audited]ended 31.03.2020[Audited]Cash flows from operating activitiesProfit before tax4,4104,320Adjustments to reconcile profit before tax to net cash flows from operating activitiesDepreciation and amortization expense674582(Gain)/ loss on sale of property, plant and equipment(4)(7)Finance income (including fair value change in financial instruments)(447)(415)Finance costs (including fair value change in financial instruments)6,5132,080Allowance for credit loss23926Share of (profit)/ loss from investment in partnership firm(17)9Working capital adjustments:(Increase)/ decrease in trade receivables(648)(56)(Increase)/ decrease in inventories(3,023)(4,036)(Increase)/ decrease in other financial assets(2,641)2,670(Increase)/ decrease in other assets2,691(761)Increase/ (decrease) in trade payables and other financial liabilities(1,723)4,685Increase/(decrease) in provisions25(35)(Decrease)/ increase in other non-financial liabilities(5,098)(5,966)9513,096(1,029)(782)(78)2,314Cash flows from investing activitiesPurchase of property, plant and equipment(566)(1,059)Proceeds from sale of property, plant and equipment512Investment in subsidiary(10)-Loan to subsidiaries(177)-Proceeds from / (contribution to) partnership current account482(192)(Investments in)/ redemption of bank deposits - net(127)123Interest received447415Net cash flows from / (used in) investing activities54(701)(1,625)(1,375)24,68920,314(19,985)(16,183)(50)-Finance cost paid(3,213)(2,770)Dividends paid on equity shares(664)(663)Tax on dividend paid(136)(136)Net cash flows generated used in financing activities(984)(813)Net increase/ (decrease) in cash and cash equivalents(1,008)800Cash and cash equivalents at the beginning of the period1,605805Cash and cash equivalents at the end of the period5971,605		(` in million)
	Particulars

















	Cash generated from operating activities
	Income tax paid (net of refund)
	Net cash flows (used in) / from operating activities










	Cash flows from financing activities
	Repayment of long-term borrowings
	Proceeds from short-term borrowings
	Repayment of short-term borrowings
	Lease payments

(3) Based on the "management approach" as defined in Ind AS 108 - Operating Segments, the Chief Operating Decision Maker (CODM) evaluates the Company's performance and allocates resources based on an analysis of various performance indicators by business segments. Accordingly, information has been presented along these business segments viz., Real estate and Contractual and manufacturing business. Details of standalone segment-wise revenue, results, assets and liabilities is given below:

						(` in million)
		3 months ended	Preceding 3	Corresponding 3	Year to date	Previous year
		31.03.2020	months ended	months ended	figures for	ended 31.03.2019
		[Audited]*	31.12.2019	31.03.2019	current year	[Audited]
	Particulars		[Unaudited]	[Audited]*	ended 31.03.2020
					[Audited]

I	Segment revenue
	Real estate	4,181	5,631	10,295	22,312	21,820
	Contractual and manufacturing	5,180	3,394	4,201	16,415	12,908
	Total	9,361	9,025	14,496	38,727	34,728
	Less: Inter segment revenues	(296)	(265)	(396)	(1,169)	(1,140)
	Net revenue from operations	9,065	8,760	14,100	37,558	33,588

II	Segment results
	Real estate	1,885	2,545	2,217	9,782	5,433
	Contractual and manufacturing	1,019	650	544	2,966	2,226
	Profit before other adjustments	2,904	3,195	2,761	12,748	7,659
	Less: Finance cost	(1,703)	(1,674)	(738)	(6,732)	(2,293)
	Less: Other unallocable expenditure	(501)	(560)	(480)	(2,353)	(1,796)
	Add: Share of profits/ (losses) in a subsidiary partnership firm	17	-	(26)	17	(9)
	Add: Finance and other income	191	171	269	730	759
	Profit before tax	908	1,132	1,786	4,410	4,320
	III Segment assets #
	Real estate	90,033	88,957	88,776	90,033	88,776
	Contractual and manufacturing	8,072	8,645	6,999	8,072	6,999
	Unallocated assets	7,326	7,657	9,697	7,326	9,696
	Total assets	105,431	105,259	105,472	105,431	105,471
	IV Segment liabilities #
	Real estate	45,790	46,390	51,123	45,790	51,123
	Contractual and manufacturing	5,205	4,246	6,603	5,205	6,603
	Unallocated liabilities	31,564	32,281	26,972	31,564	26,972
	Total liabilities	82,559	82,917	84,698	82,559	84,698

* refer note 4

Capital employed = Segment assets - Segment liabilities

(4)The standalone financial results for the year ended 31 March 2020 has been audited by Statutory Auditors of the Company and they have issued an unmodified audit report. The audit report of the Statutory Auditors is being filed with Bombay Stock Exchange and National Stock Exchange and is also available on the Company's website www.sobha.com. The figures for the quarter ended 31 March 2020 and the corresponding quarter ended in the previous year are the balancing figures between the audited figures in respect of the year ended 31 March 2020 and the published year to date figures up to the end of the third quarter of the relevant financial year. Also, the figures up to the end of third quarter has only been reviewed and not subjected to audit.

(5)Dis	closderlation 52(4)and54(2) of the SEures unregu	BI (ListingObligationsandDisclos	Requirets) Rlatiouremenegu	2015 int ofNon-Certibns,respeconv	le Debes followntures are as:
------------	--------------------------------------------------------------------------------------------------	------------------------------------------------------------------	----------------------------------------------------	-----------------------------------------------------------------------	-----------------------------------------------------------

SLNo	Particulars	vious duPreedatefortpaymenof IfornterestNCDs	Paidon	Amt ofoun(`Inteinrestmillion)	Previous duedateforfnt orepaymePrincipal ofNCDs	Paidon	Redtionempt (`Aminounmillion)	t due daNextefort ofpaymenInteforrestNCDs	Amt ofoun(`Inteinrestmillion)	t due daNexteforfnt orepaymePrincipal ofNCDs	Redtionempt (`Aminounmillion)	RatingAssigned byRatingAgency
1	` 112.50%RedableSecuredNCDs-Series-1of000Millioneem	19-Jul-19	19-Jul-19	44	19-Jul-19	19-Jul-1	9350	-	-	-	- I	CRAA+
2	12.00%RedableSecuredNCSeries-4of` 350 MillioDs-eemn	29-Jul-19	29-Jul-19	42	29-Jul-19	29-Jul-19	350	-	-	-		RICORKSA+(SO)- BKW
3	` 212.00%RedableSecuredNCDs-Series-8of00 Millioeemn	29-Sep-19	27-Sep-19	24	29-Sep-19	27-Sep-19	200	-	-	-		- BRICKWORKSA+(SO)
4	11.40%RedableSecuredNCSeries-10 of`100MillionDs-eem	3-Mar-20	3-Mar-2	011	3-Mar-20	3-Mar-2	0100	-	-	-		RICORKSA+(SO)- BKW
5	`11.40%RedableSecuredNCDs-Series-12 of200Millioneem	11-Mar-20	11-Mar-20	23	11-Mar-20	11-Mar-2	0200	-	-	-		- BRICKWORKSA+(SO)
6	11.40%RedableSecuredNCDs-Series-15 of`200Millioneem	21-Mar-20	20-Mar-20	23	21-Mar-20	20-Mar-20	200	-	-	-		- BRICKWORKSA+(SO)

(6)DSCR represents profit before finance cost and exceptional items / finance cost incurred (excludes interest accounted on advance from customers) and principal repayment of loan funds during the period. ISCR represents profit before finance cost and exceptional items / finance cost(excludes interest accounted on advance from customers).

(7)Debt-equity ratio represents debt [non-current borrowings, current borrowings and current maturities of non-current borrowings] / equity [equity share capital plus other equity, including debenture redemption reserve].

(8)The audited standalone financial results for the year ended 31 March 2020 have been reviewed by the Audit Committee and taken on record by the Board of Directors of the Company at its meeting held on 27 June 2020. The figures for the quarter and nine months ended 31 December 2019 was subject to 'Limited Review' by Statutory Auditors of the Company who have expressed an unqualified review opinion. The information presented above is prepared in accordance with the Indian Accounting Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of theCompanies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Amendment Rules, 2016. The above audited standalone financial results are filed with Stock Exchanges under Regulation 33 of the SEBI (Listing and Other Disclosure Requirements) Regulations, 2015and are available on the Stock Exchange websites, www.nseindia.com and www.bseindia.com, and on the Company's website, www.sobha.com.
(9)Effective 1 April 2019, the Company adopted Ind AS 116 "Leases", applied to all lease contracts, except leases which are expiring less than 12 months on 1 April 2019 using the modified retrospective method without taking the cumulative adjustment to retained earnings. Accordingly, the comparatives for the year ended 31 March 2019 have not been retrospectively adjusted.

On transition, the adoption of the new standard resulted in recognition of Right-of-Use asset (ROU) of <sup>128</sup> million and 184 million as at 31 March 2020 and 1 April 2019 respectively and a corresponding lease liability of <sup>134</sup> million and 184 million as at 31 March 2020 and 1 April 2019 respectively. The net effect of adoption has resulted in an increase in cost by ` 4 million (net of tax).

(10)The Company has elected to exercise the option permitted under section 115BAA of the Income-tax Act, 1961 as introduced by the Taxation Laws (Amendment) Ordinance, 2019. Accordingly, the Company has recognised liabilities for current tax for the year ended 31 March 2020 and re-measured itsDeferred tax asset basis the rate prescribed in the said section.
(11)Due to the outbreak of Coronavirus Disease(COVID-19), the Government of India declared lock-down on 23 March 2020 and the Company had to suspend the operations in all ongoing projects in compliance with the lockdown instructions issued by the Central and respective State Governments. Thisimpacted the normal business operations of the Company by way of interruption in projects execution, supply chain disruption and unavailability of personnel during the lock-down period.

The Company has considered the possible impacts on the carrying value of assets. The Company, as at the date of these financial results has used internal and external sources of information to assess the expected future performance of the Company. The Company has also performed a sensitivity analysis onthe assumptions used and based on the current estimates, the Company expects that the carrying amount of these assets reported in the balance sheet as at 31 March 2020 are fully recoverable. The Company has also estimated the future cash flows with the possible effects that may result from the COVID-19pandemic and does not foresee any adverse impact on realising its assets and meeting its liabilities as and when they fall due. The actual impact of the COVID-19 pandemic may be different from that estimated as at the date of approval of these financial results.

The Central and State Governments have initiated steps to relax the lock-down restrictions and the Company is adhering to the same. The Company resumed its operations albeit in a reduced capacity from 4 May 2020. The Company will continue to closely observe the evolving scenario and take intoaccount any future developments arising out of the same.

(12)The Board of Directors of the Company have recommended a final dividend of ` 7 per equity share for the year ended 31 March 2020, which will be placed for approval of the shareholders in the ensuing Annual General Meeting of the Company.

(13)The previous year figures have been regrouped / reclassified, wherever necessary, to conform to the current quarter and year end presentation.

For and on behalf of the Board of Directors ofSobha Limited

Bengaluru, India27 June 2020

J. C. Sharma Vice Chairman and Managing Director

INDIA'S ONLY SELF RELIANT REAL ESTATE COMPANY

INVESTOR PRESENTATION March 2020

Safety measures:

In view of outbreak of COVID-19 virus the Government of India and Ministry of Home Affairs
hasset out various advisories.
Company has adhered to the standards prescribed by Ministry of Home Affairs and respective
local authorities.
Regular medical checkups at labor camps, checks & cleaning of the facilities to make the labor
feel at home.

Welfare measure:

Welfare measures for approx. 15,000 workers and technicians at our project sites.
Provision of hygiene products, ration and other daily essentials in labor camps.
Series of measures announced by the Government of India, to further support health & safety of resources and also our operational activities.

While 'Health & Safety' is a collective responsibility of both Employer and Employee, we have made sure that all our staff are well taken care of during these testing times.

<< Images of our Safety & Welfare measures >>

BUSINESS SNAPSHOT

	Ongoingprojectstothetuneof27.41mnsftsaleableareaareexpectedtogeneratefurthercashinflowofRs143.42
	billions.CashinflowofRs3.50billionsisexpectedfromcompletedprojects.

	Plannedfuturelaunchestothetuneof14.23mnsftinvariouscitiesinthecomingquarterstosupplementfuturegrowth.
REAL ESTATE BUSINESS	Completed158projectstothetuneof58.74mnsftofdevelopableareaason31stMarch2020.
	MajorityofourunsoldinventoryisinthepricerangeofRs1Cr-Rs2Cr,whereweseemajordemandanditwillhelpustorealizecashflowfaster.
	Realestatebusinesshascontributed60%inourtoplineforFY-20
	Bangaloremarketcontinuestodominatewithabout74%outofourtotalsales,andhasleastimpactofCOVID-19amongstthemetrosandisexpectedtoperformbetter.

		Currentlyexecuting9.44mnsftofongoingprojects.
CONTRACTUAL &		ContractualorderbookatRs.22.13billionwhichgivesgoodvisibilityforfuturegrowth.
MANUFACTURING BUSINESS		Contractsandmanufacturingbusinesshascontributed39%inourtoplineforFY-20
		Completed316projectstothetuneof51mnsftofdevelopableareaason31stMarch2020.

	Currentlyholdingleasableassetstotuneof0.41mnsftandcontributesabout0.01%oftotalrevenues
COMMERCIAL BUSINESS	Plannedfuturecommercialdevelopmentof0.39mnsftinBengalurutostrengthencommercialportfolio.

	Sufficientavailabilityofliquidityatinterestrateswellbelowindustry'sborrowingrate.
LIQUIDITY	Sharperfocusoncashflowmanagement.

HIGH LIGHTS (a) Key Highlights (b) Financial Highlights (c) Operational Highlights

FINANCIAL UPDATE

OPERATIONAL UPDATE

ANNEXURES

KEY FINANCIAL & OPERATIONAL HIGHLIGHTS: Q4-20 & FY-20

	Financial Highlights	Operational Highlights
Q4-20	FY-20	Q4-20	FY-20
Total Income -9.28 billions^	Pre Sales Volume -Total Income -38.26 billions*		Pre Sales Volume -mn 4.07 sqft*
Real Estate Revenueat Rs. 4.31 billions~	Real Estate Revenueat Rs. 22.80 billions*	Sales Value-Rs 6.95 billions~	Sales Value-Rs 28.81 billions~
Contractual and ManufacturingRevenue at Rs. 4.79 billions^	Contractual and ManufacturingRevenue at Rs. 14.74 billions*	Total Cash inflowat Rs 9.45 billions^	Total Cash inflowat Rs 36.47 billions*
EBITDA -1.84 billions~Margin at 20%	EBITDA -8.31 billions*Margin at 22%	Real Estate Cash inflowat Rs 6 billions^	Real Estate Cash inflowat Rs 23.64 billions~
Profit Before Tax 0.81 billions~Margin at 9%	Profit Before Tax 4.33 billions~Margin at 11%	Contracts and ManufacturingCash inflow at Rs 3.45 billions^	Contracts and ManufacturingCash inflow at Rs 12.83 billions*
Profit After Tax 0.51 billions~Margin at 5%	Profit After Tax 2.82 billions~Margin at 7%	Net Operational Cash flowat Rs 2.14 billions	Completed 5.86 mn sqftDevelopable area~
* All time high values^ Up v/s Q3of FY 20~ Consistent performance		Net Cash flowat Rs 0.71 billions^	Launched new residentialprojects measuring 1.42 mn sqftDevelopable area ~

Note: Q4 - FY20 performance needs to be viewed in light of COVID-19 impact in last fortnight of the Quarter.

KEY FINANCIAL INDICATORS

PAT (in Rs Bn)

EBITDA (in Rs Bn)

Contractual vertical revenues

Contractual Vertical:

Consistent contributor to the Total Revenues.
CAGR of 25%
Revenue contribution of the vertical at approx. 26% supports our operations.
Quick turnaround cycle has also been helping us to post better results year on year.

Note: Contractual revenue excludes In-House Projects Billing

REVENUE TREND ANALYSIS: MANUFACTURING DIVISIONS

REAL ESTATE PROJECTS: PROJECTED CASH FLOW

Particulars	Completed	Ongoing -Areaoffered for sale	Ongoing -Areanot offered for sale	Total	UOM
Total Saleable area	20.76	19.37	8.04	48.17	Mn.sqft
Sobha Share of Saleable area	19.42	17.94	7.20	44.56	Mn.sqft
Total area sold till 31st Mar 2020	19.18	10.81	-	29.98	Mn.sqft
Probable sales cancellations*	0.37	1.56	-	1.93	Mn.sqft
Unsold area considering Potential cancellations	0.62	8.69	7.20	16.51	Mn.sqft
Balance construction cost to be spent to complete the entire developments	-	44.65	27.22	71.87	Rs.Bn
Outstanding receivables + Balance to be billed and collected on sold units consideringPotential cancellations	0.49	31.71	-	32.20	Rs.Bn
Sales value of unsold stock considering Potential cancellations	3.01	58.24	53.47	114.71	Rs.Bn
Cumulative Cash flow available (+ve)	3.50	45.30	26.25	75.04	Rs.Bn

* Note:

In view of covid-19 uncertainties, company reviewed bookings with low/delayed collections and categorized the same as probable cancellations. The company has made available these units to sales team for selling which will improve our ability to generate cash flow.

Highlights:

1. Unsold completed inventory stands at 0.62 million square feet, which will probably be the lowest in the real estate industry.

2. Balance receivable from sold ongoing project inventory and completed projects stands at Rs. 32.20 billion which covers 72% of the balance project cost to be spent for completing the projects.

^Unsold area sale value is based on current selling price in respective projects.

HIGH LIGHTS (a) Key Highlights (b) Financial Highlights (c) Operational Highlights

FINANCIAL UPDATE

OPERATIONAL UPDATE

ANNEXURES

PROFIT & LOSS STATEMENT

PARTICULARS Q4-20 Q4-19 Q3-20 FY-20 FY-19 Real Estate Revenue 4,307 10,173 5,766 22,801 22,653 Contractual & Manufacturing Revenue 4,794 3,805 3,066 14,738 11,768 Other Income 175 238 180 718 735 Total Income 9,276 14,216 9,012 38,257 35,156 Total Expenditure 7,434 11,543 6,848 29,946 27,688 EBIDTA 1,842 2,673 2,164 8,311 7,468 EBIDTA Margin 20% 19% 24% 22% 21% Depreciation 188 159 182 723 623 Finance Expenses 840 758 818 3,258 2,362 Profit Before Tax 814 1,756 1,164 4,330 4,483 PBT Margin 9% 12% 13% 11% 13% Tax Expenses 307 623 432 1,515 1,512

PAT after share of associates 507 1,133 732 2,815 2,971

Net Profit 506 1,132 737 2,820 2,963

Other comprehensive income (net of tax expense) (1) (1) 5 5 (8)

Net Profit Margin 5% 8% 8% 7% 8%

CONSOLIDATED BALANCE SHEET

PARTICULARS	31'Mar 2020	31'Mar 2019	PARTICULARS	31'Mar 2020	31'Mar 2019
ASSETS			EQUITY & LIABILITIES
Non-current assets			Equity
Property, Plant and equipment	4,631	2,842	Equity Share Capital	948	948
Investment Property	1,881	1,905	Other Equity	23,364	21,343
Investment Property under construction	2,323	1,900	Total Equity	24,312	22,291
Right of use assets	128	-
Intangible assets	232	130	Non-Current Liablities
Financial assets			Financial Liablities
Investments	1,143	1,128	Borrowings	2,378	48
Trade Receivables	141	84	Lease liabilities	60	-
Other Non-current financial assets	162	183	Provisions	145	121
Other non-current assets	5,180	5,107	Deferred tax liabilities (net)	311	74
Current tax assets (net)	113	87	TOTAL	2,894	243
Deferred tax assets (net)	21	1,009
TOTAL	15,955	14,375	Current Liabilities
			Financial Liabilities
Current Assets			Borrowings	28,625	24,379
Inventories	67,045	65,173	Lease liabilities	74	-
Financial Assets			Trade payables	9,567	11,328
Trade receivables	3,604	3,271	Other Current financial liabilities	4,937	6,477
Cash and cash equivalents	675	1,645	Other current liabilities	39,293	42,049
Bank balance other than Cash & cash equivalents	209	127	Liabilities for current tax (net)	269	555
Other Current financial assets	10,243	5,695	Provisions	151	150
Other current assets	12,391	17,185	TOTAL	82,916	84,937
TOTAL	94,167	93,096	Total Liabilities	85,810	85,180
TOTAL ASSETS	110,122	107,471	TOTAL EQUITY & LIABILITIES	110,122	107,471

_______________________________________	_______________________________________

PARTICULARS	Q4-20	Q4-19	Q3-20	FY-20	FY-19
Operational cash inflows
Real Estate Operations	6,001	6,651	5,699	23,642	25,384
Contractual & Manufacturing	3,451	3,462	3,293	12,829	10,584
Total Operational cash inflow –(A)	9,452	10,113	8,992	36,471	35,968

Operational cash outflows
Real Estate project expenses	2,571	4,004	3,573	14,803	13,702
Joint Development Partner Payments	1,254	884	980	3,855	3,608
Contracts and Manufacturing expenses	2,482	3,056	3,036	11,747	9,777
Statutory Dues	215	164	45	362	533
Corpus Repayment	45	57	10	103	306
Central Over Heads	556	514	542	2,102	2,076
Advertising & Marketing expenses	188	258	212	805	969
Total Operational cash outflow-(B)	7,311	8,937	8,398	33,777	30,971

Net Operational Cash flow : (C=A-B)	2,141	1,176	594	2,694	4,997

CASH FLOW STATEMENT (Contd)

PARTICULARS	Q4-20	Q4-19	Q3-20	FY-20	FY-19
Financial Outflows
Finance Cost	924	775	865	3,399	2,876
Income Tax	75	157	63	393	649
Total Financial Outflows (D)	999	932	928	3,792	3,525
Net Cash flow after Financial Outflow : (E=C-D)	1,142	244	(334)	(1,098)	1,472
Capital Outflows
Land Payments	328	179	560	2,641	1,963
Dividend including tax	-	-	-	800	800
Donation / CSR Contribution	33	35	46	197	174
Capex –General	70	207	153	376	366
Capex –Commercial Real Estate	4	161	42	781	515
Total Capital Outflow (F)	435	582	801	4,795	3,818

Total Cash Inflow: (A)	9,452	10,113	8,992	36,471	35,968
Total Cash Outflow : (G =B+D+F)	8,745	10,451	10,126	42,364	38,314
Net Cash flow (A -G)	707	(338)	(1,134)	(5,893)	(2,346)

Amount Rs.in Billions Particulars 31st Mar-20 31st Dec-19 30th Sept-19 30th Jun-19 31st Mar-19 Gross Debt 31.18 32.08 30.52 28.20 26.12 Less: Cash & Cash Equivalents 0.95 1.14 0.71 0.68 1.79 Net Debt 30.23 30.94 29.80 27.52 24.34 24.34 27.52 29.80 30.94 1.09 30.23 1.19 1.29 1.30 1.24 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 12.00 16.00 20.00 24.00 28.00 32.00 36.00 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 D/E Ratio Net Debt Rs. Bn D/E Ratio Net Debt (Rs Bn) D/E Ratio Net Debt reduced by Rs. 0.71 billions D/E Ratio brought down to 1.24

BORROWING COST

Q4-20	Q3-20	Q2-20	Q1-20	Q4-19	Q3-19	Q2-19	Q1-19	Q4-18	Q3-18
840	818	855	840	758	716	719	713	706	716

FINANCIAL UPDATE

OPERATIONAL UPDATE

(a) Key Highlights

(b) Financial Highlights

(c) Operational Highlights

ANNEXURES

HIGH LIGHTS

SALES PERFORMANCE: Q4 AND FY 2019-20

Q4 -FY 20
Region	Area Sold	Total Average PriceRealization	Area Sold (region
	in Sq Feet	Rs / Sq Feet	wise contribution)
Bangalore	657,769	7,575	72.62%
Gurugram	84,669	9,396	9.35%
Chennai	38,881	6,811	4.29%
Kochi	32,104	9,387	3.54%
GIFT City	31,194	5,584	3.44%
Thrissur	22,629	6,485	2.50%
Pune	22,030	8,793	2.43%
Kozhikode	1,424	12,516	0.16%
Coimbatore	15,010	4,569	1.66%
Total	905,710	7,668	100.00%

FY 2019-20
Region	Area Sold	Total AveragePrice Realization	Area Sold (region
	in SqFeet	Rs / SqFeet	wise contribution)
Bangalore	3,002,161	7,030	73.73%
Gurugram	237,383	9,821	5.83%
Chennai	212,091	5,582	5.21%
Mysore	63,608	2,153	1.56%
Kochi	155,626	9,326	3.82%
GIFT City	126,573	5,593	3.11%
Thrissur	101,048	6,551	2.48%
Pune	65,376	9,069	1.61%
Kozhikode	33,857	8,077	0.83%
Coimbatore	73,981	4,898	1.82%
Total	4,071,704	7,075	100.00%

SALES PERFORMANCE: Comparative analysis: FY 2019-20

FY 2019-20					FY 2018-19
Region	Area Sold	Total SaleValue	Sobha Share ofSale Value	Area Sold (region	Area Sold	Total SaleValue	Sobha Share ofSale Value	Area Sold (region
	in SqFeet	in Rs Mns	in Rs Mns	wise contribution)	in SqFeet	in Rs Mns	in Rs Mns	wise contribution)
Bangalore	3,002,161	21,104	17,596	73.73%	2,767,789	21,052	17,906	68.68%
Gurugram	237,383	2,331	1,650	5.83%	351,242	3,773	2,769	8.72%
Chennai	212,091	1,184	1,148	5.21%	176,341	1,331	1,311	4.38%
Mysore	63,608	137	107	1.56%	180,662	401	298	4.48%
Kochi	155,626	1,451	843	3.82%	318,155	3,169	1,816	7.90%
GIFT City	126,573	708	708	3.11%	5,036	29	29	0.12%
Thrissur	101,048	662	662	2.48%	66,380	519	519	1.65%
Pune	65,376	593	593	1.61%	11,865	74	74	0.29%
Kozhikode	33,857	273	216	0.83%	39,505	275	219	0.98%
Coimbatore	73,981	362	303	1.82%	112,805	601	461	2.80%
Total	4,071,704	28,806	23,827	100.00%	4,029,779	31,225	25,401	100.00%

City wise Sale Value Comparison (in Rs. Mns)

SALES VALUE PERFORMANCE Q4 & FY 2019-20 (Price Band and Region category)

PRICE BAND CATEGORY: COMPARATIVE ANALYSIS

	FY -	20	FY -	19	Growth Trend
Category	SBA (Sft)	Value (Mns)	SBA (Sft)	Value (Mns)	SBA (Sft)	Value (Mns)
< Rs. 5 Mns	156,992	684	257,997	1,015	-39%	-33%
Rs. 5 Mns to 10 Mns	1,519,484	9,211	919,316	5,534	65%	66%
Rs. 10 Mns to 20 Mns	1,884,566	13,984	1,754,035	13,205	7%	6%
Rs. 20 Mns to 30 Mns	363,915	3,489	718,055	7,364	-49%	-53%
Above Rs. 30 Mns	146,748	1,437	380,376	4,107	-61%	-65%
TOTAL	4,071,704	28,806	4,029,779	31,225	1%	-8%

Product Category - Trend of Area Sold

REAL ESTATE - PROJECTS PORTFOLIO

Completed Real Estate projects located across 7 cities, with Total development of 58.74 mn sqft and Super Built-up area of 44.62 mn sqft
Under construction projects located across 9 cities, with Total developable area of 39.36 mn sqft and Super Builtup area of 27.41 mn sqft
Forthcoming residential projects located across 9 cities, with Total Super Built-up area of 14.23 mn sqft.
*(includes) Proposed Commercial projects in Bangalore with Total Leasable Area of 0.39 mn sqft

Note:

Real Estate product mix includes Multi Storied Apartments (Dreams, Luxury, Super Luxury & Presidential category), Row Houses, Villas, Plotted Developments & Club House Facilities etc.
Developed / Developable area includes super built-up area (SBA) / saleable area to the customer plus common area, car parking area, service area, storage area, internal roads and common amenities.

LOCATION	No of Projects	Total Saleable area (Mn Sft)
Real Estate -Forthcoming
Bangalore	6	6.72
Chennai	1	0.28
Hosur	1	1.31
Delhi	1	1.03
Gurugram	1	1.73
Thrissur	1	1.30
Hyderabad	1	0.89
GIFT City	1	0.33
Trivandrum	1	0.64
Sub Total	14	14.23

Commercial Portfolio (Total Leasable Area)
Bangalore	3	0.39
Sub Total	3	0.39

Forthcoming Launch Pipeline : Ongoing Projects - RERA registration status :

Location	No of projectsapplied for RERA	No of projectsapproved by RERA
Bangalore	67	67
Mysore	1	1
Gurugram	5	5
Pune	3	3
GIFT City	1	1
Chennai	5	4
Coimbatore	1	1
Thrissur	2	-
Kozhikode	2	-
Kochi	4	-
Total	91	82

• 91 projects registered under RERA and 82 project approval received.

Unsold Area from Area offered for sale in Ongoingprojects	8.69 mn sft
Unsold area from ongoing projects -not offered for sale	7.20 mn sft
Future Launches	14.23 mn sft
TOTAL INVENTORY AVAILABLE FOR SALE IN FUTURE	30.12 mn sft

CONTRACTS PORTFOLIO

Overall area delivered since inception: 51 million square feet

Contractual Ongoing Project Details as of 31st March 2020

S.No	Location	Built-up area(Mn Sqft)
1	Bangalore	3.09
2	Bhubaneshwar	0.01
3	Chennai	0.15
4	Cochin	0.09
5	Hyderabad	2.61
6	Indore	0.37
7	Mysore	0.29
8	Pune	0.07
9	Trivandrum	2.76
	TOTAL	9.44

Contracts revenue up by 22 % YoY.

Manufacturing revenue up by 33 % YoY.

Total revenue from Contracts & Manufacturing up by 25 % YoY.

Contractual Revenue & Collection Details as of 31st March 2020

Amount in Rs. Billions

Particulars	FY-20	FY-19	Growth %
Revenue
Contracts	10.18	8.33	22%
Manufacturing	4.56	3.44	33%
Total	14.74	11.77	25%
Collections
Contracts	8.09	6.77	19%
Manufacturing	4.74	3.81	24%
Total	12.83	10.58	21%

Contracts collections up by 19 % YoY.

Manufacturing collections up by 24 % YoY.

Total Collections of Contracts and Manufacturing up by 21 % YoY.

CONTRACTS: Completed Projects region wise contribution details

SELF RELIANT MODEL OF BUSINESS

DRIVEN BY SELF RELIANCE ZEALOUS TO DELIVER HIGHEST QUALITY

SOBHA Limited is the foremost & only Indian Real Estate player with in-house capabilities to manufacture construction materials.

Glazing and Metal Works Interiors Division Concrete Products Division

MANUFACTURING DIVISION PERFORMANCE

SOBHA – Only Real Estate Company in India with Self-Reliant Model
It supports company to achieve world class quality with timely & efficient delivery

Glazing & Metal	Works Division	Interiors	& Furnishing Division	Concrete Products Division
Turnover(FY-20):-	Rs. 2.19 Bns	Turnover(FY-20):-	Rs.1.87 Bns	Turnover(FY-20):-	Rs. 0.49 Bns
No. of Employees	120	No. of Employees	139	No. of Employees	18
Factory Area	0.30 Mn sqft	Factory Area	0.80 Mn sqft	Factory Area	0.40 Mn sqft
PRODUCTS:-Metal/Steel fabrication worksAluminum doors & windows, structuresGlass works		PRODUCTS:-doors, windows, paneling, cabinets,cupboards & loose furniture.Manufacture of Economy, Deluxe, SuperDeluxe & Premium Mattresses fromfurnishing division	Manufacturing wood based products such as	PRODUCTS:-Manufacture of wide range of concreteproducts such as concrete blocks, pavers,kerbstones, water drainage channels, pavingslabs and elite landscape productsGlass Fiber Reinforced Concrete

Note: *All divisions turnover represents net revenue excluding inter division sales & GST

LAND BANK STATUS

MILESTONES

BOARD OF DIRECTORS

Ravi PNC Menon Chairman

Over 15 years of experience in the real estate and construction business
Bachelor of Science in Civil Engineering from Purdue University, USA

J.C. Sharma Vice Chairman & Managing Director

Over 37 years of experience in diversified industries such as automobiles, textiles, steel & real estate Board of Directors.
A qualified Chartered Accountant and Company Secretary with a Bachelor's degree in Commerce (Honors) from St Xavier's college, Calcutta

Jagadish Nangineni Dy. Managing Director

Over 17 years of experience in the field of real estate, technology and consulting
MBA from the IIM, Calcutta and has done Bachelor of Technology (B. Tech) in Civil Engineering from IIT, Bombay.

T.P. Seetharam Whole-time Director

Distinguished service as a career diplomat for 36 years, retired as Ambassador of India to UAE
IFS from 1980 batch and MA in English Literature from Madras Christian College

R.V.S. Rao

Independent Director

• Over 47 years of experience in the areas of banking and finance

*As of 31st March 2020

• Bachelor's degree in Commerce from Mysore University and a Bachelor's degree in law from Bangalore University institutions

Anup Shah Independent Director

Over 35 years of experience in the field of law, specifically real estate law.
Degree in law from the Government Law College, Mumbai

Sumeet Jagdish Puri Independent Director

Over 23 years of experience in Global Investment Banking
MBA from S.P. Jain Institute of Mgmt. & Research, Mumbai & Bachelor's degree from Sydenham Institute of Management Studies, Research and Entrepreneurship.

Srivathsala Kanchi Nandagopal Additional Director

A serial entrepreneur, Founder of 4 Organizations, with Businesses spanning across Angel Investing, Financial planning for HNIs and Strategic Business advisory
32 • Certified Financial Planner from ICAI besides holding Masters in Commerce from Bangalore University

OUR PRESENCE

NEW LAUNCHES DURING FY 2019-20

SOBHA Verdure, Coimbatore
Total Developable Area	0.14
Total Saleable Area	0.10
SOBHA Saleable Area	0.10

SOBHA Nesara, Pune
Total Developable Area	0.68
Total Saleable Area	0.51
SOBHA Saleable Area	0.51

SOBHA Sterling Infinia, Bangalore
Total Developable Area	0.30
Total Saleable Area	0.23
SOBHA Saleable Area	0.23

SOBHA Blossom, Chennai
Total Developable Area	0.30
Total Saleable Area	0.18
SOBHA Saleable Area	0.18

Area in mn sqft

SNAPSHOTS OF FEW ONGOING PROJECTS

SNAPSHOTS OF FEW ONGOING PROJECTS (Contd)

SOBHA DREAM ACRES PROJECT STATUS

		Total SBA launched for sale as on Mar-2020	5.36 mn sqft
Total Developable Area Launched	7.09 mn sqft	Total SBA Sold till Mar-2020	4.45 mn sqft
Area Completed till Mar-2020	4.91mn sqft	Percentage sold	83 %
Wing 19 of Tropical Greens at SOBHA Dream Acres		Near completion image of Wing 18 of Tropical Greens, SOBHA Dream Acres

COMPLETED PROJECTS: FY-20

COMPLETED PROJECTS: FY-20 (Contd)

Wing 48 & 49, Palm Springs, SOBHA Dream Acres - Bangalore

Wing 7, SOBHA Silicon Oasis - Bangalore

COMMERCIAL PORTFOLIO: Completed and forthcoming projects

Project Name	Status	% of area Leased	Total Leasable Area (insqft)	Sobha Share of LeasableArea (in sqft)
Sobha City Mall, Thrissur	Completed	94%	338,493	258,247
One Sobha Mall, Bangalore	Completed	80%	225,334	150,974
Sub Total			563,827	409,221
Sobha City, Bangalore	Forthcoming	-	28,874	28,874
Bhoganahalli, Bangalore	Forthcoming	-	122,268	122,268
Yadavanahalli, E.City Bangalore	Forthcoming	-	237,838	181,946
Sub Total			388,980	333,088
Grand Total			952,807	742,309

Sobha City Mall, Thrissur – Completed One Sobha, Bangalore- Completed

MAJOR AWARDS & RECOGNITIONS: FY2019 - 20

HIGH LIGHTS (a) Key Highlights (b) Financial Highlights (c) Operational Highlights

FINANCIAL UPDATE

OPERATIONAL UPDATE

ANNEXURES

أألأ

S.No	Name of the Project	Location	Type	Classification	Total Developable Area(in Mn Sft)	Total Saleable Area(in Mn Sft)	Sobha Share of Saleable Area(in Mn Sft)	Business Model	Completion Date asper RERA
I	Ongoing Projects -Registered under RERA
1	Sobha Rajvilas	Bangalore	Apartments	JV	0.37	0.36	0.20	Area share	Jun-24
2	Sobha Dream Garden Phase-1 (Wing8&9)	Bangalore	Apartments	JV	0.39	0.37	0.26	Area share	Feb-24
3	Sobha Dream Garden Phase 2 Wing5,6&7	Bangalore	Apartments	JV	0.53	0.53	0.37	Area share	Feb-24
4	Sobha Arena -The Square (Block 4)	Bangalore	Apartments	JV	0.47	0.32	0.32		Dec-21
5	Sobha Arena -Pebble Court (Block 1)	Bangalore	Apartments	JV	0.38	0.26	0.26	Revenue share	Apr-22
6	Sobha Morzaria Grandeur-2(W1)	Bangalore	Apartments	JV	0.10	0.08	0.08	Revenue share	May-21
7	Sobha Palm Court	Bangalore	Apartments	JV	0.71	0.51	0.42	Revenue share	May-21
8	Sobha HRC Pristine Phase 1 Block 1	Bangalore	Apartments	JV	0.49	0.29	0.29		Jul-22
9	Sobha HRC Pristine Phase 2 Block 2	Bangalore	Apartments	JV	0.49	0.29	0.29	Revenue share	Jul-22
10	Sobha HRC Pristine Phase 3 Block 3	Bangalore	Apartments	JV	0.30	0.18	0.18		Jul-22
11	Sobha HRC Pristine Phase 4 Block 4&5	Bangalore	Apartments	JV	0.04	0.04	0.04	Revenue share	Jul-22
12	Sobha Lake Garden Phase 1	Bangalore	Apartments	JV	0.60	0.46	0.46		May-23
13	Sobha Lake Garden Phase 2	Bangalore	Apartments	JV	0.56	0.43	0.43	Revenue share	Mar-24
14	Sobha 25 Richmond	Bangalore	Apartments	JV	0.02	0.02	0.01	Area Share	Jul-20

S.No	Name of the Project	Location	Type	Classification	Total Developable Area(in Mn Sft)	Total Saleable Area (inMn Sft)	Sobha Share of Saleable Area(in Mn Sft)	Business Model	Completion Date asper RERA
I	Ongoing Projects -Registered under RERA
15	Sobha Silicon Oasis Phase 4 Wing 9	Bangalore	Apartments	Own	0.19	0.13	0.13	Own	Jan-21
16	Sobha Silicon Oasis Phase 5 Wing10&11	Bangalore	Apartments	Own	0.44	0.31	0.31	Own	Jan-21
17	Sobha Dream Acres -Tropical GreensPhase-18 Wing 39&40	Bangalore	Apartments	Own	0.28	0.22	0.22	Own	Oct-22
18	Sobha Dream Acres -Tropical GreensPhase-26 Wing 35,36,37&38	Bangalore	Apartments	Own	0.66	0.50	0.50	Own	Dec-23
19	Sobha Dream Acres -Tropical GreensPhase-23 Wing 25,26,27&28	Bangalore	Apartments	Own	0.63	0.48	0.48	Own	Dec-23
20	Sobha Dream Acres -Wing 50	Bangalore	Apartments	Own	0.08	0.06	0.06	Own	Jun-22
21	Sobha Forest Edge	Bangalore	Apartments	Own	0.60	0.45	0.45	Own	Sep-22
22	Sobha Royal Pavilion Phase 1 Wing 6& 7	Bangalore	Apartments	JV	0.42	0.25	0.25	Revenue Share	Sep-23
23	Sobha Royal Pavilion Phase 2 Wing 4& 5	Bangalore	Apartments	JV	0.28	0.24	0.24	Revenue Share	Sep-23
24	Sobha Royal Pavilion Phase 3 Wing 16	Bangalore	Apartments	JV	0.42	0.25	0.25	Revenue Share	Sep-23
25	Sobha Royal Pavilion Phase 4 Wing 1,2 & 3	Bangalore	Apartments	JV	0.56	0.37	0.37	Revenue Share	Sep-23
26	Sobha Royal Pavilion Phase 5 Wing 8& 9	Bangalore	Apartments	JV	0.42	0.25	0.25	Revenue Share	Sep-25
27	Sobha Royal Pavilion Phase 6 Wing 10& 11	Bangalore	Apartments	JV	0.28	0.24	0.24	Revenue Share	Sep-25
28	Sobha Royal Pavilion Phase 7 Wing12, 13 & 14	Bangalore	Apartments	JV	0.56	0.37	0.37	Revenue Share	Sep-25
29	Sobha Royal Pavilion Phase 8 Wing 15	Bangalore	Apartments	JV	0.42	0.25	0.25	Revenue Share	Sep-25

S.No	Name of the Project	Location	Type	Classification	Total Developable Area(in Mn Sft)	Total Saleable Area (inMn Sft)	Sobha Share of Saleable Area(in Mn Sft)	Business Model	Completion Date asper RERA
I	Ongoing Projects -Registered under RERA
30	Sobha Winchester	Chennai	Apartments	JV	0.70	0.51	0.38	Area Share	Feb-21
31	Sobha Gardenia	Chennai	Villas	JV	0.30	0.19	0.12	Area Share	Feb-22
32	Sobha Palacia	Chennai	Apartments	JV	0.84	0.60	0.60	Revenue Share	Dec-23
33	Sobha Blossom	Chennai	Plots	Own	0.30	0.18	0.18	Own	Dec-21
34	Sobha Verdure	Coimbatore	Row Houses	Own	0.14	0.10	0.10	Own	Jul-20
35	Sobha City -Tower A1,B1,C1	Gurugram	Apartments	JV	0.58	0.46	0.46	Revenue share	Nov-21
36	Sobha City -Tower A2,B2,C2	Gurugram	Apartments	JV	0.58	0.46	0.46		May-22
37	Sobha City -Tower C3	Gurugram	Apartments	JV	0.27	0.21	0.21	Revenue share	Oct-22
38	Sobha City -Tower C4	Gurugram	Apartments	JV	0.26	0.21	0.21	Revenue share	Oct-23
39	Sobha City -Towers A3, B3, A4 & B4	Gurugram	Apartments	JV	0.68	0.49	0.49	Revenue Share	Dec-24
40	Sobha Dream Heights	Gift City	Apartments	Own	0.71	0.52	0.52	Own	Mar-24
41	Sobha Nesara, Block 1	Pune	Apartments	Own	0.17	0.12	0.12
42	Sobha Nesara, Block 2	Pune	Apartments	Own	0.23	0.17	0.17	Own	Mar-24
43	Sobha Nesara, Block 3	Pune	Apartments	Own	0.28	0.21	0.21
		Total			17.73	12.95	12.22

iHH

S.No	Name of the Project	Location	Type	Classification	Total Developable Area(in Mn Sft)	Total Saleable Area (inMn Sft)	Sobha Share of Saleable Area(in Mn Sft)	Business Model	Completion Date asper RERA
II	Ongoing Projects -DM Model
1	Sobha Sterling Infinia	Bangalore	Apartments	DM	0.30	0.23	0.23	DM	NA
		Total			0.30	0.23	0.23
III				Ongoing Projects -		Registered under RERA -Yet to be released for sale
1	Sobha Dream Acres -Tropical GreensPhase-21 Wing 21&22	Bangalore	Apartments	Own	0.32	0.24	0.24	Own	Jun-25
2	Sobha Dream Acres -Tropical GreensPhase-22 Wing 23&24	Bangalore	Apartments	Own	0.32	0.24	0.24	Own	Jun-25
3	Sobha Dream Acres -Tropical GreensPhase-24 Wing 29&30	Bangalore	Apartments	Own	0.32	0.24	0.24	Own	Jun-24
4	Sobha Dream Acres -Tropical GreensPhase-25 Wing 32,33&34	Bangalore	Apartments	Own	0.58	0.42	0.42	Own	Jun-24
5	Sobha Dream Garden Phase 3 Wing3&4	Bangalore	Apartments	JV	0.39	0.37	0.26	Area share	Feb-25
6	Sobha Dream Garden Phase 4 Wing1&2	Bangalore	Apartments	JV	0.39	0.37	0.26	Area share	Feb-25
7	Sobha Dream Garden Phase 5 Wing 10Bangalore		Apartments	JV	0.13	0.12	0.09	Area share	Feb-25
		Total			2.45	2.00	1.75

S.No	Name of the Project	Location	Type	Classification	Total Developable Area(in Mn Sft)	Total Saleable Area (inMn Sft)	Sobha Share of Saleable Area(in Mn Sft)	Business Model	Completion Date asper RERA
IV	Ongoing Projects -RERA registration are exempted as per rule
1	Sobha Lifestyle Legacy (Ph 2)	Bangalore	Villas	JV	0.97	0.49	0.37	Area Share	NA
2	Sobha Elan (JD with LMW)*	Coimbatore	Apartments	JV	0.42	0.34	0.34	Revenue Share	NA
3	Sobha West Hill -Part C	Coimbatore	Villas	Own	0.05	0.03	0.03	Own	NA
4	Sobha International City -Phase 2 (E)	Gurugram	Villas & DuplexVillas	JV	1.78	1.14	0.73		NA
5	Sobha International City -Phase 2	Gurugram	Row Houses	JV	0.07	0.04	0.03	Area Share	NA
6	Sobha International City -Phase 3	Gurugram	Row Houses	JV	0.69	0.43	0.26		NA
		Total			3.98	2.47	1.76
V				Ongoing Projects -	RERA Notified -	Approval pending
1	Sobha Lake Edge	Thrissur	Apartments	Own	0.29	0.24	0.24	Own	Dec-23
2	Sobha Silver Estate	Thrissur	Villas	Own	0.31	0.18	0.18	Own	Dec-23
3	Sobha Bela Encosta	Kozhikode	Villas	JV	0.43	0.21	0.21	Revenue Share	Dec-25
4	Sobha Rio Vista	Kozhikode	Apartments	JV	0.64	0.51	0.51	Revenue Share	Dec-26
5	Sobha Isle	Kochi	Apartments	JV	1.11	0.89	0.89	Revenue Share	Dec-25
6	Marina One -Wing 3, 4, & 12	Kochi	Apartments	Coownership	1.07	0.85	0.85		Dec-24
7	Marina One -Wing 2	Kochi	Apartments	Coownership	0.46	0.37	0.37	Co-ownership	Dec-26
8	Marina One -Wing 5 & 11	Kochi	Apartments	Coownership	0.56	0.46	0.46		Dec-26
		Total			4.87	3.71	3.71

S.No	Name of the Project	Location	Type	Classification	Total Developable Area(in Mn Sft)	Total Saleable Area (inMn Sft)	Sobha Share of Saleable Area(in Mn Sft)	Business Model	Completion Date asper RERA
VI	Projects received Plan approvals --Not released for sale -Yet to be registered under RERA
1	Sobha International City -Residential(Ph3 & 4)	Gurugram	Villas & RowHouses	JV	3.80	1.16	0.74	Area Share	NA
2	Sobha International City -Commercial	Gurugram	CommercialSpace	JV	0.47	0.46	0.30		NA
3	Sobha City -(Unreleased)	Gurugram	Apartments	JV	1.94	1.41	1.41	Revenue Share	NA
4	Sobha Dream Acres (Unreleased)	Bangalore	Apartments	Own	2.00	1.49	1.49	Own	NA
5	Marina One (Unreleased)	Cochin	Apartments	Coownership	1.82	1.53	1.53	Co-ownership	NA
				10.03	6.05	5.47
		GRAND TOTAL			39.36	27.41	25.14

THANK YOU

SOBHA Corporate Office - Bangalore

Sobha Limited. 'SOBHA', Sarjapur-Marathahalli Outer Ring Road(ORR), Devarabisanahalli, Bellandur Post, Bangalore-560103 Phone: +91-80- 49320000, Fax: +91-80- 49320444 Web : www.sobha.com

Investors Contact :

Mr.Subhash Mohan Bhat Chief Financial Officer Mobile: +91- 99801 99088 Email: [email protected]

Mr. Tejus Singh Investor Relations Mobile: +91- 99000 31078 Email: [email protected]

Disclaimer:

The information in this presentation contains certain forward-looking statements and publically available data from various recourses such as research reports, publications etc. 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 projections made by the company.

For immediate publication

BEST EVER PERFORMANCE AMID DISMAL MACROS

Bengaluru, June 27, 2020:

SOBHA Limited today announced audited financial results for the quarter and financial year ended March 31, 2020.

The company has reported all time high total income of Rs 38.26 billion for FY-20, up by 9% YoY. The EBITDA for FY-20 stands at an all time high at Rs 8.31 billion, up by 11 % YoY. PAT for FY-20 stands at Rs 2.82 billion with 7% margin.

The total income, EBITDA and PAT for Q4-20 stands at Rs 9.28 billion, Rs 1.84 billion and 0.51 billion respectively.

During FY 19-20,Contractual and Manufacturing verticals have delivered a very strong performace resulting in highest ever revenue of Rs 14. 74 billion and cash inflow of Rs 12.83 billion. Order book remains healthy which gives good visibility for the Company's future growth.

The Company has also achieved highest ever total sales volume of 4.07 million square feet valued at Rs 28.81 billion during FY-20. Total cash inflow for FY-20 stands all time high at Rs 36.47 billion. We have also delivered 5.86 million square feet of developable area during FY 19-20 which shows our strong delivery capabilities during tough times.

During Q4-20, SOBHA has achieved total sales volume of 0. 91 million square feet valued at Rs 6. 95 billion. Total average price realisation showed upward trend as compared to Q3-20, as we saw good sales traction for our luxury and super luxury ongoing projects across cities. Total cash inflow for the quarter stands at Rs 9.45 billion. The company has also generated net operational cash flow of Rs 2.14 billion and net cash flow of Rs 0.71 billion during the quarter which has resulted in debt reduction. We continue to enjoy sufficient liquidity from banks/financial institutions at a much lower cost than industry average.

Speaking on the occasion, Mr. J.C. Sharma, Vice Chairman and Managing Director, SOBHA Limited said, "FY 2019-20 has been an exciting and a challenging year. As we started FY-20 on the back of one of the strongest performances, a gamut of new events unfolded which to a larger extent reversed the benefit of reforms witnessed during the previous 3 to 4 years. Major world economies slipping into recession followed by the unprecedent Covid-19 pandemic have put the largely labor intensive sectors like construction in a tight spot.The pandemic has adversely impacted both human lives and businesses world over."

He lauded the Prime Minister's call for creating 'Atma Nirbhar Bharat~ This initiative of making India a self-reliant economy by supporting local manufacturing and becoming vocal for local is a welcome step. SOBHA is the only self reliant real estate company in India due to strong backward integrated business model which will help us to perform better. He further said that the package of Rs 20 lakh

crore announcement by the government will focus on land, labour, liquidity and laws. This will help small businesses, migrant labour and farmers in particular.

Mr. Sharma added, "Due to adoption of innovative technological tools,self --reliant model, strong brand, on time delivery, robust balance sheet, presence in major cities, availability of sufficient liquidity and huge land bank for future growth, we strongly feel that we are well equipped to face the recent challenges. Real estate sector is expected to perform better due to all time low housing loan interest rates, inherent demand for housing, various tax exemptions under income tax, CLSS (Credit linked subsidy scheme) scheme & other government benefits."

It is notable that Bangalore market has least impact of COVID-19 amongst the metros and is expected to perform better. Good cash inflow from ongoing and completed projects, focus on cost optimisation and efficient cash flow management will help keep the Company's debt levels under control in these uncertain times. This will improve the overall performance of the Company. SOBHA's expansions plans across India will further support its operations in the days to come.

Exceptional Execution

SOBHA's superior execution capability is its core strength. The company currently has ongoing real estate projects aggregating to 39.36 million square feet of developable area and 27.41 million square feet of saleable area, and ongoing contractual projects aggregating to 9.44 million square feet under various stages of construction. As on 31st March 2020, the company has delivered overall 109. 74 million square feet of developable area. The company has a real estate presence in 10 cities, viz. Bengaluru, Gurugram, Chennai, Pune, Coimbatore, Thrissur, Kozhikode, Kochi, Gujarat (Gift City) and Mysore. Overall, SOBHA has footprint in 27 cities in 14 states across India.

Recognition & Awards

SOBHA has received the vote of confidence to become the Top Realty Brand Nationally in the Global Buyer Report 2020, a study conducted recently by Track2Realty. In addition, this comprehensive report has recognised SOBHA as the Top Real Estate Brand in South India and Top Choice of HNis ..
Conferred with the Dun & Bradstreet Corporate Awards 2019 in the Real Estate category
'Developer of the Year' award by Franchise India.
Kerala Management Association (KMA) CSR award in Health & Hygiene category for the 2nd consecutive year.
'Residential Project of the Year (West)' award undernon-metro category for SOBHA Nasera ( Pune) at the 11tt1 Realty+ Excellence Awards 2019.
Runner-up award in the 'Residential Project of the Year' category for International City, Gurugram at the Construction Week India Awards 2019.
Recognised as 'One of India's Top Builders 2019' at the Construction World Architect and Builder (CWAB) awards.
Received two prestigious awards 'Best Quality Construction of the Year Chennai' and 'Best Architecture Plan of the Year' at the Real Estate Summit & Awards (RESA) 2019 organized by FICCI and The New Indian Express."CREDAI Awards for Real Estate (CARE) 2019" in the category "Best CSR Activity" by CREDAI Karnataka. The Award recognizes SOBHA's stellar contribution towards changing lives of people in a meaningful and sustainable way.

• Recognised as the Top National Realty Brand across Asset class in India by BrandXReport 2018- 19. This is the 5th consecutive year when SOBHA has been conferred with the National Brand Leadership of Indian real estate, making it one-of-itskind achievement for any company in the sector. Further, SOBHA has retained its position as the best super luxury brand for 6th consecutive time in the BrandXReport 2018-19. In addition, the Company has been Ranked No. 1 for 'SOBHA Dream Series' in the Affordable Homes Category by BrandXReport 2018-19.

About SOBHA Limited:

Founded in 1995, SOBHA Limited is one of the fastest growing and foremost self-reliant real estate players in the country. It means that the company has all the key competencies and in-house resources to deliver a project from its conceptualization to completion. SOBHA is primarily focused on residential and contractual projects. The Company's residential projects include presidential apartments, villas, row houses, super luxury & luxury apartments, plotted developments and aspirational homes. In all its residential projects, the company lays strong emphasis on environmental management, water harvesting and highest safety standards. On the contractual projects side, the Company has constructed a variety of structures for corporates including offices, convention centres, software development blocks, multiplex theatres, hostel facilities, guest houses, food courts, restaurants, research centres, and club houses. More details on financials can be accessed via our website on the below link:

https://www.sobha.com/investor-relations-investor-presentation.php

For further information, please contact:

SOBHA Limited Tejus Singh Head-Investor Relations Off: +91 80 49320000- Ext. 5302, ![email protected]

AI assistant

Sobha Limited — Audit Report / Information 2020

61956_rns_2020-07-23_cc79b9a7-e161-4d48-bf66-9d6fb7096d5a.pdf

Sub: Outcome of Board Meeting held on .June 27, 2020

B. In this connection, please find enclosed herewith:

FOR SOBHA LIMITED

Annexure A

INDEPENDENT AUDITORS' REPORT

To the Board of Directors of Sobba Limited

Report on the audit of the Consolidated Annual Financial Results

Opinion

Basis for Opinion

INDEPENDENT AUDITORS' REPORT (continued)

Management's and Board of Directors' Responsibilities for the Consolidated Annual Financial Results

Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results

INDEPENDENT AUDITORS' REPORT (continued)

Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results (continued)

INDEPENDENT AUDITORS' REPORT (continued)

Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results (continued)

Other Matters

INDEPENDENT AUDITORS' REPORT (continued)

Others Matters (continued)

INDEPENDENT AlJDITORS' REPORT (continued)

Annexure 1: List of subsidiaries and joint venture

Subsidiaries of Sohha Citv

Subsidiary of Sobha Highrise Ventures Private Limited

, S u l >SH . I' iary o · , o > rn eve opers une ,ll1ll e( ····~~--- rs l l D (P ) I . ·1

.Joint venture of Sob ha Limited

SOBHA LIMITED

Statement of consolidated financial results for the quarter and year ended on 31 March 2020

(2) The consolidated statement of cash flows is as below:

Capital employed = Segment assets - Segment liabilities

INDEPENDENT AlJDITORS' REPORT

To the Boan! of Directors of Sobha Limited

Report on the audit of the Standalone Annual Financial Results

Opinion

Basis for Opinion

INDEPENDENT AUDITORS' REPORT

Management's and Board of Directors' Responsibilities for the Standalone Annual Financial Results

Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results

INDEPENDENT AUDITORS' REPORT

Auditor's Responsibilities for the Audit of the Standalone Annual Financial Results (continued)

Other Matters

SOBHA LIMITED

(2) The standalone statement of cash flows is as below:

Capital employed = Segment assets - Segment liabilities

INDIA'S ONLY SELF RELIANT REAL ESTATE COMPANY

INVESTOR PRESENTATION March 2020

Safety measures:

Welfare measure:

BUSINESS SNAPSHOT

KEY FINANCIAL & OPERATIONAL HIGHLIGHTS: Q4-20 & FY-20

KEY FINANCIAL INDICATORS

Contractual vertical revenues

Contractual Vertical:

REVENUE TREND ANALYSIS: MANUFACTURING DIVISIONS

REAL ESTATE PROJECTS: PROJECTED CASH FLOW

* Note:

Highlights:

FINANCIAL UPDATE

PROFIT & LOSS STATEMENT

CONSOLIDATED BALANCE SHEET

CASH FLOW STATEMENT (Contd)

BORROWING COST

OPERATIONAL UPDATE

SALES PERFORMANCE: Q4 AND FY 2019-20

SALES PERFORMANCE: Comparative analysis: FY 2019-20

SALES VALUE PERFORMANCE Q4 & FY 2019-20 (Price Band and Region category)

PRICE BAND CATEGORY: COMPARATIVE ANALYSIS

REAL ESTATE - PROJECTS PORTFOLIO

Note:

Forthcoming Launch Pipeline : Ongoing Projects - RERA registration status :

CONTRACTS PORTFOLIO

Overall area delivered since inception: 51 million square feet

CONTRACTS: Completed Projects region wise contribution details

SELF RELIANT MODEL OF BUSINESS

DRIVEN BY SELF RELIANCE ZEALOUS TO DELIVER HIGHEST QUALITY

MANUFACTURING DIVISION PERFORMANCE

LAND BANK STATUS

MILESTONES

Sobha Limited Audit Report / Information 2020