Corporate announcement August 20 , 2014

Sub: Up gradation of Long-term Ratings to "CARE AAA" from "CARE AA+"

Dear Sirs,
This is to inform you that the rating committee of the rating agency CARE Ratings has upgraded its rating to "CARE AAA" from its earlier assigned rating "CARE AA+" to the Long Term Debt Programme of Indiabulls Housing Finance Limited.
Further, CARE has reaffirmed its "CARE AA+" rating to the Subordinate Debt Programme and its "CARE AA" rating to the Perpetual Debt Programme of Indiabulls Housing Finance Limited.
CARE has also reaffirmed its "CARE AA+ rating to the Long Term Debt Programme (for Non-Convertible Debentures) of Indiabulls Infrastructure Credit Limited (the wholly owned subsidiary companies of Indiabulls Housing Finance Limited)
You are requested to take the same on record. Thanking you,
For Indiabulls Housing Finance Limited

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