Updates

June 30, 2026 BSE Limited National Stock Exchange of India Limited Corporate Services, Exchange Plaza, Piroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai 400051 Security BSE NSE ISIN Equity Shares 532313 MAHLIFE INE813A01018 Sub: Business Responsibility and Sustainability Report for FY 2025-26 - Regulation 34(2)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) In compliance with Regulation 34(2)(f) of the Listing Regulations, as amended from time to time, please find enclosed the Business Responsibility and Sustainability Report which forms part of the Integrated Annual Report of the Company for the Financial Year 2025-26. The BRSR forms part of the Integrated Annual Report for the financial year 2025-26, submitted to the Stock Exchange(s) vide letter dated June 30, 2026, which is also be available on the website of the Company at: https://www.mahindralifespaces.com/investor- center/?category=annual-reports. This intimation is also being uploaded on the website of the Company and can be accessed at: https://www.mahindralifespaces.com/investor-center/?category=agm-egm. Thanking you, Yours faithfully, For Mahindra Lifespace Developers Limited Bijal Parmar Company Secretary & Compliance Officer Encl.: As above HOME of POSITIVE ENERGY Integrated Annual Report 2025-26 From Aspiration to Self-Actualisation By Avneet Kaur Waraich I've always earned my growth through hard work, curiosity, and Ms. Nilanjana, with her grounded steadiness and genuine care, recognised persistence. Until an opportunity, for General Management sponsorship the weight of such an aspiration. She held space for my doubts and my emerged. This is a leadership incubation initiative by the Company to dreams, offering reassurance without judgement. recruit, groom and accelerate in-house talent into general management Together, they didn't push me toward a decision. They opened a pathway roles, which is vast, demanding, and honestly, seemed intimidating. It felt I had been too hesitant to step onto. like a path reserved for someone more seasoned, more assured, more ready than me. The Moment That Mattered: Then came the simplest and most powerful act — they lent me their belief. They told me I could do it, and they stood The Enablers: That's when two leaders stepped forward with quiet by me through every round, every interview, and every uncertainty, until conviction — Ms. Anshu Shukla, our Chief of Design, and Ms. Nilanjana the day I was selected for this programme. Saikia, Senior Landscape Design Head and my reporting manager. Reflection: My rise has always come from my own drive. But in that Ms. Anshu didn't simply ask whether I would apply. She asked what the moment, what moved me forward was the rare gift of two leaders seeing programme meant to me, what skills it could unlock, and what future my potential with more clarity and conviction than I saw in myself. I imagined for myself. She saw not just my present — but the horizon beyond it. Sometimes, leadership isn't about doing more. It's about choosing not to interrupt someone's journey. My Journey Toward Excellence By Prajakta Sawant What helped me rise wasn't opportunity or luck. It was a leader’s trust It wasn't criticism. It came from conviction. She didn't just advise me to and belief in me. study further — she mentored me through the decision, encouraging me to believe that I was capable of doing more than supporting the legal I began my career in the Company as a legal assistant — diligent, detail- team. She didn't see a legal assistant who performed well. She saw a oriented, and eager to learn. I handled files, drafted notes, managed lawyer in the making. documentation, and kept everything running smoothly behind the scenes. I was committed to my work. But somewhere within, I always wondered Balancing work and studies wasn't easy. There were long days, longer if I could accomplish more. nights, and many moments of doubt. But her faith in me provided me quiet strength. Responsibilities expanded, confidence deepened, and Then came the moment that changed my direction and my life. opportunities multiplied. I was working closely with Ms. Parveen Mahtani, and she observed Slowly, I was no longer assisting law. I was practising it. something in me that I hadn't fully recognised in myself — potential beyond my designation. Rather than letting me stay comfortable in my My rise has always been powered by hard work and resilience. But what existing role, she chose to challenge me. truly transformed my journey was someone else's unwavering belief in me — before I fully believed in myself. She asked me a simple question: "Why haven't you pursued your LL.B degree?" She didn't just mentor a legal assistant. She helped create a lawyer. CONTENTS CORPORATE OVERVIEW STATUTORY REPORTS 02 About the Report 172 AGM Notice 04 Message from Chairman 216 Board’s Report 06 Message from Managing Director and CEO 257 Management Discussion and Analysis 08 About Mahindra Lifespaces 269 Corporate Governance Report 16 Leadership and Governance 294 Business Responsibility and Sustainability Report 19 Risk Management 330 ESG Governance 25 Awards & Accolades 332 GRI Index 29 Strategy and Value Creation 335 Assurance Statements 34 Business Strategy 36 Sustainability Strategy FINANCIAL STATEMENTS 46 Stakeholder Engagement and Materiality Standalone 49 Double Materiality Assessment 355 Independent Auditor’s Report 52 Highlights and Interlinkage of Six Capitals 366 Standalone Balance Sheet 56 Financial Capital 367 Standalone Statement of Profit and Loss 62 Manufactured Capital 368 Standalone Statement of Cash Flows 78 Human Capital 370 Standalone Statement of Changes in Equity 96 Natural Capital 372 Note to Standalone Financial Statements 132 Intellectual Capital Consolidated 142 Social and Relationship Capital 426 Independent Auditor’s Report 162 Future Outlook of Capitals 434 Consolidated Balance Sheet 168 Sustainability: From Endurance to Execution 435 Consolidated Statement of Profit and Loss 171 Company Information 436 Consolidated Statement of Cash Flows 438 Consolidated Statement of Changes in Equity 440 Note to Consolidated Financial Statements Integrated Annual Report 2025-26 ABOUT THE REPORT GRI 2-3 AS WE BUILD ON OUR MOMENTUM OF TRANSFORMATIVE AND PROGRESSIVE GROWTH, WE ARE PROUD TO PRESENT THE 5TH INTEGRATED ANNUAL REPORT OF MAHINDRA LIFESPACE DEVELOPERS LIMITED. THE REPORT UNDERSCORES OUR STEADFAST COMMITMENT TO TRANSPARENT AND COMPREHENSIVE DISCLOSURES FOR ALL OUR STAKEHOLDERS. IT OFFERS A HOLISTIC VIEW OF OUR FINANCIAL AND NON-FINANCIAL PERFORMANCE FOR THE FINANCIAL YEAR (FY) 2025-26, HIGHLIGHTING THE STRATEGIC INITIATIVES DRIVING LONG-TERM, SUSTAINABLE VALUE CREATION. REPORTING FRAMEWORK AND GUIDELINES The Report has been prepared in accordance with the prescribed by the Securities and Exchange Board of India (SEBI), International Framework issued by the International Integrated including the Listing Obligations and Disclosure Requirements Reporting Council (IIRC). In developing this report, we have also (LODR) Regulations, 2015. aligned our disclosures with the Global Reporting Initiative (GRI) Standards and the United Nations Sustainable Development Moreover, this Report incorporates Business Responsibility Goals (UN SDGs), and the recommendations of the Task Force and Sustainability Reporting (BRSR) disclosures as mandated on Climate-related Financial Disclosures (TCFD). by SEBI, aligned with the principles of National Guidelines for Responsible Business Conduct. It also confirms compliance with All financial and statutory information included in this Report the Secretarial Standards issued by the Institute of Company is compliant with the Companies Act, 2013, and its applicable Secretaries of India (ICSI). rules, Indian Accounting Standards (IND AS), and the regulations Corporate Overview About the Report SCOPE AND BOUNDARY GRI 2-2 Th [Showing first 8,000 characters — download PDF for full document]