Outcome of Board Meeting

ASIAN HOTELS (EAST) LIMITED CIN : L15122WB2007PLC162762 Regd. Off.: Hyatt Regency Kolkata Hotel, JA-1, Sector - III, Salt Lake City, Kolkata- 700 106, W.B., India Tel: 033 6820 1344 / 1346, Fax : 033 2335 8246, E-mail : clocs@ahleast.com, Website : www.ahleast.com 9th July, 2026 The Manager The Manager Listing Department Listing Department BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Mumbai — 400 001 Bandra Kurla Complex, Bandra (E), Mumbai — 400 051 Type of Security: Equity shares Type of Security: Equity shares Scrip Code : 533227 NSE Symbol : AHLEAST Madam/ Sir, Ref: Disclosure under Regulations 30 and 33 of the Listing Regulations, 2015. Sub: Outcome of the Board Meeting of even date i.e. 9th July, 2026. The Board of Directors of the Company at its meeting of even date has inter-alia considered and approved the audited standalone and consolidated financial results of the Company for the quarter (Q4) and financial year ended 31st March, 2026 and took note of the audit report issued by M/s Singhi & Co, Chartered Accountants, Kolkata, Statutory Auditors of the Company. Pursuant to Regulation 33(3)(d) of the Listing Regulations, 2015 read with SEBI Circular No CIR/CFD/CMD/56/2016 dated 27th May, 2016, the Company hereby declare that the Statutory Auditor M/s Singhi & Co has issued the audit reports of even date with modified opinion on audited standalone and consolidated financial results of the Company for the quarter (Q4) and finan cial year ended 31st March, 2026. Enclosed please find the audited financial results along with the auditor’s report and Statement of Impact of Audit Qualification. The Board has not recommended any dividend for the financial year ended 31st March, 2026 in order to conserve cash resources to meet its own capex requirements and to provide necessary financial support to its WoS Novak Hotels Pvt Ltd, as and whenever required. The meeting of the Board of Directors commenced at 12:30 p.m. and concluded at 04:20 p.m. with a lunch break of around one hour. This is for your information and dissemination. Thanking you. Yours truly, For Asian Hotels (East)/,Ltd O£WNER OF Saumen Chatterje: Chief Legal Officer Company Secretary HYATT, Encl: as above REGENCY KOLKATA HOTEL Singhi & Co. e T +91(0)33-2419 6000/01/02 £ kolkata@singhicocom Chartered Accountants wwwisinghico.com Independent Auditor’s Report on the Quarterly and Year to Date Standalone Financial Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended The Board of Directors of Asian Hotels (East) Limited Report on the audit of the Standalone Financial Results Qualified Opinion We have audited the accompanying statement of quarterly and year to date standalone financial results of Asian Hotels (East) Limited (the “Company”) for the quarter and year ended March 31, 2026 (“Statement”), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘Listing Regulation”). In our opinion and to the best of our information and according to the explanations given to us, except for the possible effects to the matter described in the "Basis for Qualified Opinion” section of our report, the Statement: (i) is presented in accordance with the requirements of the Listing Regulations in this regard; and (i) gives a true and fair view in conformity with the applicable accounting standards and other accounting principles generally accepted in India, of the net profit and other comprehensive income and other financial information of the Company for the quarter and year ended March 31, 2026. Basis for Qualified Opinion As disclosed in note 3 to the statement, an order dated November 02, 2024 (the “Order”) was issued by the Government of Odisha through the General Administration and Public Grievance Department, citing non- compliance by GJS Hotels Limited, a wholly owned subsidiary (the “subsidiary") with certain terms and conditions of the lease deed. Pursuant to this Order, the subsidiary was directed to vacate the property located in Odisha and the performance bank guarantee of Rs.350 lakhs, furnished by the Company, was forfeited. The subsidiary has filed a writ petition before the Hon'ble High Court of Orissa challenging the said Order. As at March 31, 2026, the Company holds investments in the said subsidiary amounting to Rs. 860.86 lakhs in the form of equity shares and Rs. 483.39 lakhs as loans, which also includes the amount pertaining to the encashment of the bank guarantee. The events and circumstances as described above, including the surrender of the property to the government, forfeiture of the bank guarantee, and the financial position of the subsidiary, raise significant doubt regarding the recoverability of the Company's investment in the subsidiary. However, no provision for impairment has been recognized in respect of these exposures in the financial statements, which, in our opinion, is not in accordance with the requirements of Indian Accounting Standard (Ind AS) 36 — Impairment of Assets. Had the aforesaid impairment of assets been recognised, the total expenses for quarter and year ended March 31, 2026 would have been higher by Rs. 1344.25 lakhs and Rs. 1344.25 lakhs respectively, resulting in a reduction in the reported net profit after tax to Rs. (-) 579.48 lakhs from the reported Rs. 764.77 lakhs and Rs. 1424.64 lakhs from the reported Rs. 2768.89 lakhs respectively. Consequently, the total comprehensive income for quarter and year ended March 31, 2026 would have been Rs. (-) 581.81 lakhs instead of the reported Rs. 762.44 lakhs and Rs. 1428.65 lakhs instead of the reported Rs. 2772.90 lakhs respectively, and the earnings per share would have been Rs. (-) 3.35 as against the reported Rs. 4.42 and Rs. 8.24 as against the reported Rs. 16.01 respectively. Further, other equity would have been reduced by Rs. 1344.25 lakhs as on March 31, 2026. Offices: Kolkata, Delhi NCR, Mumbai, Chennai, Bengaluru, Pune & Raipur Singhi & Co. Chartered Accountants weneenccONtd. We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act. 2013, as amended ("the Act"). Our responsibilities under those Standards are further described in the "Auditor's Responsibilities for the Audit of the Standalone Financial Results" section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the standalone financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our qualified opinion. Emphasis of Matter We draw attention to note 5 to the Statement regarding the Company's investment in, and loans (including accrued interest) to its wholly owned subsidiary, Novak Hotels Private Limited ("Novak"), aggregating Rs. 24928.50 lakhs as at March 31, 2026. Recoverability of these amounts is substantially dependent upon Novak's successful acquisition of Hyatt Regency Mumbai ("HRM") under the Framework Agreement dated August 11, 2023, as amended. As described in the note, completion of the acquisition is subject to the resolution of certain matters, including a competing claim asserted in respect of the Buy Option, the execution and registration of the related loan and security documents, and ongoing discussions with Asian Hotels (West) Limited regarding possession of HRM. Management, based on legal advice obtained, believes that only Novak is entitled to exercis [Showing first 8,000 characters — download PDF for full document]