Rajesh, let me try to give some input using a different passage of scripture I think you'll like:
“Not everyone who says to me, ‘Lord, Lord,’ will enter the kingdom of heaven, but the one who does the will of my Father who is in heaven. On that day many will say to me, ‘Lord, Lord, did we not prophesy in your name, and cast out demons in your name, and do many mighty works in your name?’ And then will I declare to them, ‘I never knew you; depart from me, you workers of lawlessness.’ Matthew 7:21–23 (ESV)
Notice that Jesus does not argue with the claims of "Lord, Lord, did we not prophesy in your name, and cast out demons in your name, and do many mighty works in your name?" Given this, I think their claims were true: they really had done "many mighty works" in Jesus' name. By all appearances, they were walking in obedience to the Gospel yet they were ultimately tossed out of God's presence. So even with obedience one may not be saved.
What is Jesus' charge against them? "I never knew you." You see, if a person truly knows Jesus, they will obey. If a person claims to be a believer in Christ yet does lead a life characterized by obedience, then they do not know Him. On the other hand, if they lead a life with all the appearances of obeying Him, they still may not know Him and may still be lost. What is required for salvation is that a person be adopted by God as His child. Obedience
will be the "fruit" of that adoption, but it is not a requirement of adoption.
God does the adoption, our response is obedience. And even our obedience is a work by Him in and through us. For we are to "work out [our] own salvation with fear and trembling, for it is God who works in [us], both to will and to work for his good pleasure. Philippians 2:13 (ESV) So even in what we think of as our working out of our salvation, we are to recognize at the bottom of it all is Him working in us to desire and to carry out His will. Do you see that even our obedience is a gift from God, and "not a result of works [i.e. obedience], so that no one may boast"? With St. Augustine, we pray "Give what you command and command what you will."
We are saved by faith alone and such faith
will "bring about the obedience of faith" Romans 16:26 (ESV) If our obedience is a requirement of being born again and we provided that critical ingredient, then we have much to boast about in that we brought about our own salvation. Of this I am sure:
God saved me, I did not.