Review Report of Independent Registered Public Accounting Firm To the Shareholders and Board of Directors of Dr. Reddy's Laboratories Limited We have reviewed the accompanying condensed consolidated interim statement of

Review Report of Independent Registered

Public Accounting Firm

To the Shareholders and Board of Directors

of Dr. Reddy's Laboratories Limited

We have reviewed the accompanying condensed

consolidated interim statement of financial position of Dr. Reddy's Laboratories Limited and subsidiaries (the Company)

as of June 30, 2019, the related condensed consolidated interim statements of comprehensive income, the statements of changes

in equity and cash flows for the three-months period ended June 30, 2019 and 2018, and the related notes (collectively referred

to as the "condensed consolidated interim financial statements"). Based on our review, we are not aware of any material

modifications that should be made to the condensed consolidated interim financial statements referred to above for them to be

in conformity with International Accounting Standard (IAS) 34, Interim Financial Reporting as issued by the International

Accounting Standards Board.

We have previously audited, in accordance

with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheet of

the Company as of March 31, 2019, the related consolidated statement of comprehensive income, changes in equity and cash flows

for the year then ended, and the related notes (not presented herein); and in our report dated June 3, 2019, we expressed an unqualified

audit opinion on those consolidated financial statements. In our opinion, the information set forth in the accompanying condensed

consolidated statement of financial position as of March 31, 2019, is fairly stated, in all material respects, in relation to the

consolidated statement of financial position from which it has been derived.

Basis for Review Results

These financial statements are the responsibility

of the Company's management. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United

States) (PCAOB) and are required to be independent with respect to the company in accordance with the U.S. federal securities laws

and the applicable rules and regulations of the SEC and the PCAOB. We conducted our review in accordance with the standards of

the PCAOB. A review of interim financial statements consists principally of applying analytical procedures and making inquiries

of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance

with the standards of the PCAOB, the objective of which is the expression of an opinion regarding the financial statements taken

as a whole. Accordingly, we do not express such an opinion.