SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-Q

QUARTERLY REPORT PURSUANT TO SECTION 17 OF THE SECURITIES
REGULATION CODE AND SRC RULE 17(2)(b) THEREUNDER

1. For the quarterly period ended

Mar 31, 2016

2. SEC Identification Number

34218

3. BIR Tax Identification No.

000-153-610-000

4. Exact name of issuer as specified in its charter

AYALA CORPORATION

5. Province, country or other jurisdiction of incorporation or organization

Makati City, Philippines

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

32F to 35F, Tower One and Exchange Plaza, Ayala Triangle, Ayala Avenue, Makati City Postal Code 1226

8. Issuer's telephone number, including area code

(632) 908-3000 / 908-3357

9. Former name or former address, and former fiscal year, if changed since last report

Not applicable

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Preferred B Series 1 (net of 8M treasury shares)	20,000,000
Preferred B Series 2 (net of 3M treasury shares)	27,000,000
Voting Preferred	200,000,000
Common	620,148,280
Debt outstanding as of March 31, 2016 (in PHP)	40,000,000,000

11. Are any or all of registrant's securities listed on a Stock Exchange?

Yes

No

If yes, state the name of such stock exchange and the classes of securities listed therein:

A total of 616,233,350 Common shares, 20,000,000* Preferred B Series 1 shares and 27,000,000* Preferred B Series 2 shares are listed with the Philippine Stock Exchange as of March 31, 2016. * Net of treasury shares as stated in Item 10 above.

12. Indicate by check mark whether the registrant:

(a) has filed all reports required to be filed by Section 17 of the SRC and SRC Rule 17 thereunder or Sections 11 of the RSA and RSA Rule 11(a)-1 thereunder, and Sections 26 and 141 of the Corporation Code of the Philippines, during the preceding twelve (12) months (or for such shorter period that the registrant was required to file such reports)

Yes

No

(b) has been subject to such filing requirements for the past ninety (90) days

Yes

No

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Ayala CorporationAC

PSE Disclosure Form 17-2 - Quarterly Report References: SRC Rule 17 and
Sections 17.2 and 17.8 of the Revised Disclosure Rules

For the period ended	Mar 31, 2016
Currency (indicate units, if applicable)	in Thousand Pesos

Balance Sheet

	Period Ended	Fiscal Year Ended (Audited)
	Mar 31, 2016	Dec 31, 2015
Current Assets	290,683,507	262,850,558
Total Assets	838,291,053	794,074,723
Current Liabilities	234,968,396	205,967,464
Total Liabilities	503,114,418	465,530,740
Retained Earnings/(Deficit)	130,248,511	124,468,464
Stockholders' Equity	335,176,635	328,543,983
Stockholders' Equity - Parent	213,969,312	208,657,359
Book Value per Share	307.11	298.8

Income Statement

	Current Year (3 Months)	Previous Year (3 Months)	Current Year-To-Date	Previous Year-To-Date
Operating Revenue	45,278,565	41,051,360	45,278,565	41,051,360
Other Revenue	7,519,950	6,786,523	7,519,950	6,786,523
Gross Revenue	52,798,515	47,837,883	52,798,515	47,837,883
Operating Expense	36,538,669	33,144,411	36,538,669	33,144,411
Other Expense	4,346,877	3,770,612	4,346,877	3,770,612
Gross Expense	40,885,546	36,915,023	40,885,546	36,915,023
Net Income/(Loss) Before Tax	11,912,969	10,922,860	11,912,969	10,922,860
Income Tax Expense	2,158,197	2,119,074	2,158,197	2,119,074
Net Income/(Loss) After Tax	9,754,772	8,803,786	9,754,772	8,803,786
Net Income Attributable to Parent Equity Holder	5,780,048	5,043,726	5,780,048	5,043,726
Earnings/(Loss) Per Share (Basic)	8.81	7.63	8.81	7.63
Earnings/(Loss) Per Share (Diluted)	8.68	7.51	8.68	7.51

Other Relevant Information
Please see attached SEC17Q Report for March 31, 2016