Sobha Developers Ltd has informed BSE that on January 31, 2007 the Company has received a Letter of Indent (LOI) dated January 25, 2007 from Continental Devices India Ltd (CONTEL) to construct its "Bella Vista" Shopping Mall & Hotel Project in Panchkula, Haryana. The scope of work comprises of its civil, finishing, interiors and glazing works.

The total value of the work is about Rs 13.33 crores.

CONTEL is a new corporate client added to the Company's existing contractual client base.