Monitoring Agency Report

Date: October 16, 2026 To, To, The Compliance Manager The Manager Listing Department Listing and Compliance Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G Dalal Street, Bandra-Kurla Complex, Bandra (East), Mumbai - 400001 Mumbai - 400051 Scrip Code: 544469 Scrip Symbol: LOTUSDEV ISIN: INE0V9Q01010 Subject: Monitoring Agency Report for the quarter ended September 30, 2026 Pursuant to Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 41(4) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, we are enclosing herewith the Monitoring Agency Report for the quarter ended September 30, 2026, in respect of utilization of the proceeds raised through issuance of equity shares by way of Initial Public Offer (IPO) of the Company, as received from CARE Ratings Limited, Monitoring Agency on October 15, 2026. This intimation is also available on the website of our Company at www.lotusdevelopers.com/investor- relations. We request you to kindly take the same on record. Thanking you. Yours faithfully, For Sri Lotus Developers and Realty Limited (Formerly known as AKP Holdings Limited) Ankit Kumar Tater Company Secretary and Compliance Officer Membership No.: A57623 Encl. A/a Sri Lotus Developers and Realty Limited (Formerly known as “AKP Holdings Limited”) CIN: L68200MH2015PLC262020 Regd. Office: 5th & 6th Floor, Lotus Tower, 1 Jai Hind Soc., N S Road No. 12/A, JVPD Scheme, Juhu, Mumbai 400049, MH, India Corporate Office: 5th & 6th Floor, Lotus Tower, 1 Jai Hind Soc., N S Road No. 12/A, JVPD Scheme, Juhu, Mumbai 400049, MH, India Tel: +91-7506283400 Email: contact@lotusdevelopers.com Website: www.lotusdevelopers.com Monitoring Agency Report No. CARE/PRO/GEN/2026-27/1064 The Board of Directors Sri Lotus Developers and Realty Limited (Formerly AKP Holdings Limited and AKP Holdings Private Limited) 5th & 6th Floor, Lotus Tower, 1 Jai Hind Society, N S Road No. 12/A, JVPD Scheme, Juhu, Mumbai-400049, Maharashtra, India. October 15, 2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended September 30, 2026- in relation to the IPO of Sri Lotus Developers and Realty Limited (“the Company”) We write in our capacity of Monitoring Agency for the Initial Public Offer for the amount aggregating to Rs.792 crore of the Company and refer to our duties cast under 41 of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations. In this connection, we are enclosing the Monitoring Agency Report for the quarter ended September 30, 2026, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated July 21, 2025. Request you to kindly take the same on records. Thanking you, Yours faithfully, Sonal Bhageria Associate Director Sonal.bhageria@careedge.in Monitoring Agency Report Report of the Monitoring Agency Name of the issuer: Sri Lotus Developers and Realty Limited (Formerly AKP Holdings Limited and AKP Holdings Private Limited) For quarter ended: September 30, 2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: Nil (b) Range of Deviation: Not applicable Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit related analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity. We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s Management/Board. Signature: Name of the Authorized Signatory: Sonal Bhageria Designation of Authorized person/Signing Authority: Associate Director 1) Issuer Details: Name of the issuer : Sri Lotus Developers and Realty Limited Name of the promoter : Anand Kamalnayan Pandit, Roopa Anand Pandit and Ashka Anand Pandit Industry/sector to which it belongs : Realty- Residential commercial projects 2) Issue Details Issue Period : July 30, 2025, to August 01, 2025 Type of issue (public/rights) : Initial Public Offer (IPO) Type of specified securities : Equity IPO Grading, if any : Not applicable Issue size (in crore) : Rs. 792 crore 3) Details of the arrangement made to ensure the monitoring of issue proceeds: Comments of the Source of information / certifications considered Comments of the Particulars Reply Board of by Monitoring Agency for preparation of report Monitoring Agency Directors There is a delay in utilisation of proceeds as compared to prospectus, please refer to section CA certificate, management certificate, invoices, 4(iv) for delay in implementation of the objects. TDS challans, account ledgers, bank statements, The company has spent an amount of Rs.2.698 No comments Whether all utilization is as per the disclosures in the Offer Document? No development agreement, FD receipts, Board crore excess towards permission and approval received Resolution, ICD agreements, Balance confirmations fees for ‘Dhyan Project’. However, the total amount spent on the object is within the proposed limit. Whether shareholder approval has been obtained in case of material No comments Not applicable Prospectus and Management certificate Not applicable deviations# from expenditures disclosed in the Offer Document? received Whether the means of finance for the disclosed objects of the issue have No comments No Prospectus and Management certificate Not applicable changed? received Is there any major deviation observed over the earlier monitoring agency No major deviation observed over the earlier No comments No Prospectus and Management certificate reports? monitoring agency report. received As certified by the management, key approvals such as commencement certificate, intimation of Approval/Disapproval, Civil Aviation NOC, Provisional Fire NOC etc. are in place for the Whether all Government/statutory approvals related to the object(s) have Prospectus and Management certificate, Intimation No comments No project. There are other approvals which are been obtained? of Approval received required to be procured basis stages of work being done. Final approvals like occupation or completion certificate w [Showing first 8,000 characters — download PDF for full document]