MAHLIFE

Business Update: Mahindra Lifespace Developers signed its first ~100-acre plotted development in the Mumbai Metropolitan Region (MMR), marking its entry into plotted development in the region. Strategy: The company plans to further expand its plotted development offerings in MMR, Pune, and Bengaluru.

Financial & Operational Performance - H1 FY27 residential pre-sales reached ₹1,988 Cr (up 60-66% YoY), with sustenance sales contributing 41%. - H1 FY27 consolidated PAT stood at ₹102 Cr (Residential PAT ₹56 Cr, Industrial Cities PAT ₹46 Cr); operating cash flows at ₹341 Cr. - Balance sheet remains strong with negative Net Debt to Equity (-0.28) and average cost of debt at 7.55%. - Total GDV portfolio maintained at ₹50,000 Cr, with ₹7,100 Cr GDV added in H1 FY27. Management Guidance & Outlook - Guided FY27 residential pre-sales target of ₹4,500–5,000 Cr (targeting midpoint ₹4,750 Cr), scaling towards a ₹10,000 Cr multi-year target. - Estimated net cash flows from existing and ongoing residential projects stand at ₹15,280 Cr. - Industrial Cities (IC) business expected to generate ₹750–800 Cr in cash flow over the next 5 years, targeting ₹150–200 Cr PAT annually. Growth Drivers & Project Pipeline - Key upcoming launches in H2 include Mahalunge Rivenza (Pune), Sai Baba (Borivali), Westera (Santacruz), and a greenfield Bengaluru project. - Expanding cluster strategy in Mumbai redevelopment (Chembur and Borivali) and executed greenfield acquisition K2 in Kandivali (GDV ₹5,600 Cr). - Industrial aggregation progressing at Origins Pune and Origins Ahmedabad, with Jaipur SEZ denotification underway.

Mahindra Lifespace Developers Limited has announced the acquisition of a 10.05-acre land parcel in North Bengaluru. - The planned residential development has an estimated Gross Development Value (GDV) of INR 1250 crore.

- Clarification issued regarding the Q2 and H1 FY27 financial results submitted on 22 October 2026. - Corrected a clerical error in the subsidiary name to 'Mahindra Sakura Developers Private Limited' from 'Mahindra Sakura Developers Limited'.

- Audio-video recording of the earnings call for Q2 & H1 ended 30 September 2026 made available on the company website. - The call was concluded on 22 October 2026 (held between 4:30 PM and 5:30 PM IST). - Analysts were briefed on financial results and industry overview; no UPSI was shared.

Q2 FY27 Standalone Revenue ₹15.73Cr vs ₹11.97Cr (▲31% YoY) EBITDA -₹57.77Cr vs -₹53.77Cr (▼7% YoY) PAT ₹127.43Cr vs -₹24.51Cr (Turnaround YoY) EBITDA Margin -367% vs -449% (▲8189bps)

- H1 Resi pre-sales surged 66% YoY to ₹1,988 Cr; total sales reached ₹2,101 Cr (▲48% YoY). - Added ₹7,100 Cr GDV in H1 FY27, expanding total pipeline to ~₹50,400 Cr. - Achieved H1 PAT of ₹102 Cr; net debt-to-equity remained negative at -0.28. - Targets ₹8,000–₹10,000 Cr in sales.

- Board approved unaudited standalone and consolidated financial results for Q2 & H1 ended Sep 30, 2026. - Standalone Q2 revenue from operations stood at ₹15.73 Cr vs ₹11.97 Cr YoY. - Standalone Q2 PAT turned positive to ₹127.43 Cr vs a net loss of ₹24.51 Cr YoY. - Consolidated financial result tables were not included in the filing extract.

Q2 FY27 Standalone Revenue ₹15.73Cr vs ₹11.97Cr (▲31% YoY) EBITDA -₹57.77Cr vs -₹53.77Cr PAT ₹127.43Cr vs -₹24.51Cr EBITDA Margin -367.3% vs -449.2% (Note: Consolidated financial statements table was not provided in the filing; figures represent Standalone results)

- Ms Parveen Mahtani has resigned as the Chief Legal Officer of Mahindra Lifespace Developers Limited. - The resignation is effective from October 28, 2026.

Q2 FY27 Standalone Revenue ₹15.73Cr vs ₹11.97Cr (▲31% YoY) EBITDA -₹57.77Cr vs -₹53.77Cr PAT ₹127.43Cr vs -₹24.51Cr EBITDA Margin -367% vs -449%

Q2 FY27 Consolidated Revenue ₹32.42 Cr vs ₹17.56 Cr (▲84.6% YoY) EBITDA -₹12.13 Cr vs ₹42.60 Cr PAT ₹16.34 Cr vs ₹47.91 Cr (▼65.9% YoY) EBITDA Margin -37.4% vs 242.6%

Concall Schedule Concall Date: 22 October, 2026 Concall Time: 04:30 pm IST