Sobha Limited has submitted a Statement of Deviation or Variation concerning the utilization of funds from its Rights Issue for the quarter ended December 31, 2025. This statement, reviewed by the Audit Committee on January 16, 2026, details the use of proceeds raised via the Rights Issue.

The company raised ₹1,999.03 crore through the Rights Issue, with funds raised on July 11, 2024. As of December 31, 2025, ₹1,744.55 crore has been utilized towards the stated objects outlined in the Letter of Offer dated June 12, 2024. Consequently, ₹254.48 crore remains unutilized, including ₹0.32 crore for issue-related expenses.

The utilization breakdown shows ₹905.00 crore for repayment of borrowings, ₹153.58 crore for project-related expenses, ₹41.15 crore for purchase of equipment and machinery, and ₹632.09 crore for land acquisition and general corporate purposes. Interest income of ₹28.70 crore from temporary investments has not been included in the unutilized amount. The company has confirmed that there are no deviations or variations from the original objects or terms approved by shareholders.