Investor Presentation

July 24, 2026 BSE Limited Scrip Code: 543287 Debt Segment – 976262, 976764, 976895, 976923, 977163, 977293 National Stock Exchange of India Limited Debt Segment Trading Symbol: LODHA Dear Sirs, Sub: Investor Presentation on Unaudited Financial Results for the quarter ended June 30, 2026 Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we enclose herewith the Investor Presentation on Unaudited Financial Results for the quarter ended June 30, 2026. The same is also being uploaded on the Company’s website at www.lodhagroup.com. Kindly take the above information on your record. Thanking you, Yours faithfully, For Lodha Developers Limited (Formerly known as Macrotech Developers Limited) Sanjyot Rangnekar Company Secretary & Compliance Officer Membership No. F4154 Enc.: As above INVESTOR PRESENTATION First Quarter FY 2027 | July 2026 DISCLAIMER Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements. Lodha Developers Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward- looking statements to reflect subsequent events or circumstances. TABLE OF CONTENTS Highlights 7 Operational Performance 11 Financials 17 Growth Drivers 21 Company Overview 33 Annexures 41 LODHA – DELIVERING PROFITABILITY & GROWTH, WITH LOW RISK Profit & brand focused strategy, combined with low leverage – medium term trajectory of 20% PAT CAGR Strong profitability track record Brand & Operational Excellence Conservative leverage: Net debt ceiling of < 0.5x D/E FY26 highlights • Strong brand – especially on lifestyle and trust • Adj. EBITDA margin of ~34% • AA (Stable) - 7 upgrades since 2021 • Only large RE company acting as General • PAT Margin ~20% • Net debt at INR 49.3bn, 0.20x Equity as on Jun-26 Contractor, enabled by strong internal • PAT at INR 34.3bn, >6x over FY21-26 engineering and design capabilities • Target to be debt free at DevCo level in next few years • RoE at ~16% • Industry leading ESG practices & ratings DevCo RentCo LandCo Amongst India’s Largest Housing Developers 10x growth in Annuity income in next six years Focus to maximize value from land in Palava and • Delivered INR 205 bn pre-sales in FY26 • FY26 Annuity income INR 2.9 bn Upper Thane (other than required for DevCo up to • 28% CAGR over last five years, consistent growth over FY31 and earmarked for DC Park) five years since listing Data center • ~3,700 acres of high quality land at Palava & Diversified portfolio providing resilient growth • ~660 acre, shovel ready DC land (DC Park) around Navi Upper Thane in MMR; largest major metro land Mumbai with AWS, STT & Digital Edge already signed • Present across luxury, prem. & mid-income segments holding of any developer in India up in the DC park through ~40 operating locations in MMR, Pune, Bengaluru & NCR (starting FY27) • 3 GW power in place, to augment further • Location witnessing transformative infrastructure upgrades Long growth runway • Plan to build 1 GW powered shell (BTS) on ~90 acres, • Market share of <3.5% (value terms) in primary housing largely self-funded from land sales in DC Park sales in Top 6 cities (current 4 + Hyderabad and Retail, Office and Industrial & Warehousing Chennai) • Performance from existing assets ahead of underwriting Strong visibility • Unsold GDV of INR ~2,000bn (excl. land forming part • Good growth visibility of LandCo): Limited business development required over next few years, substantially increasing free cash flow BRAND AND OPERATIONAL STRENGTH ENABLES UNIQUE COMBINATION OF GROWTH AS WELL AS DELEVERAGING INR Bn Pre - sales PAT1 Net Debt 205 34 160 ~28 % CAGR 176 28 > 6x 16 93 121 18 3.5x 0.8x 0.6x 0.2x 0.2x 0.2x FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 x Net D/E, ceiling of 0.5 x Along with new project additions INR ~1.4 tn GDV since IPO and growing investment in annuity streams 1. PAT adjusted for forex and exceptional items FOCUS TO DELIVER ~20% PAT CAGR INR Bn 85 + ~20 % CAGR FY26 FY31 With conservative leverage – ceiling of <= 0.5x Net D/E HIGHLIGHTS KEY PERFORMANCE INDICATORS – Q1FY27 (1/2) Revenue • INR 50.0 bn ( 43% YoY) in best ever quarterly performance • INR 13.7 bn ( >2x YoY), best ever quarterly PAT; 33% of full year guidance of 41 bn (INR 34.3 bn in FY26 + 20% growth) • PAT margin at 26.9% vs 18.6% in Q1FY26 • Launched Lodha Theoretical Physics Institute, India’s first privately funded institution of its kind, to be headed by Wolf prize winner Prof. Jainendra Jain ESG & Brand • Completed 4th edition of Lodha Genius Programmme, in association with Ashoka Performance University and IISER Pune with over 400 high potential students participating from across India OTHER HIGHLIGHTS – Q1FY27 (2/2) Pre-sales Collections Price Growth1 INR 46.3 bn (4% YoY) FY27 Guidance: INR 240 bn INR 42.1 bn (46% YoY) 3% in Q1FY27 H1 to be low 40s% of sales, balance in H2 Annuity Net debt Income INR 49.3 bn INR 3.0 bn •Reduction of INR 4.5bn QoQ •Net debt/ equity at 0.20x well below (Annualized basis exit rental on Jun-26) ceiling of 0.5x •Avg. cost of debt steady at 7.8% 1. YTD, on like to like basis CASHFLOW INR Bn Particulars Q1FY27 Total Collections 42.1 Collections from ‘DevCo’ 41.1 Income from ‘RentCo’ 1.0 Net Collections1 38.8 Operating Expenses (19.9) Const Expense (13.3) SG&A (5.1) Taxes (1.5) Operating CashFlow 18.9 Interest (1.4) Surplus for Growth & Capital Providers 17.5 Growth Investments in ‘DevCo’ business2 (11.5) Investment in ‘RentCo’3 (1.5) (Increase )/ Decrease in Net Debt 4.5 1. Net of Stamp Duty, GST and Hospitality & Property Management expenses 2. Represents Land & approval cost 10 3. Capital invested in building annuity portfolio OPERATIONAL PERFORMANCE MARKET PERFORMANCE FOR Q1FY27 INR Bn Average Sales Price on Market Pre-Sales1 Saleable Area Collections2 Construction spends (INR psf) MMR 40.9 30,083 31.6 10.2 Of which Extended Eastern Suburbs 18.9 6,979 17.4 3.4 Pune 2.2 10,764 4.0 2.2 Bengaluru 2.0 13,412 3.0 0.8 Offices & Retail (for rent) - - 0.8 0.2 Warehousing & Industrial - - 0.3 - Others3 1.3 - 2.2 - Total 46.3 42.1 13.5 1. Pre-sales includes DM Sales of INR 0.2bn; 2. Collections from DM sales not included; 3. Land sales to govt and others LAUNCHES IN Q1FY27 New Project / Location New Phase Total Own/ JDA Market Project Area (Mn Est. GDV No of Area (Mn Est. GDV No of Area (Mn Est. GDV No of .Sq.ft) (INR bn) Projects .Sq.ft) (INR bn) Projects .Sq.ft) (INR bn) Projects MMR Own - - - 0.4 3.3 1 0.4 3.3 1 Total - - - 0.4 3.3 1 0.4 3.3 1 ROBUST DEV-CO LAUNCH PIPELINE FOR REST OF FY27 New Projects New Phase of existing projects Total Own/ JDA Market Area Area Area Project Est. GDV No of Est. GDV No of Est. GDV No of (Mn (Mn (Mn (INR bn) Projects (INR bn) Projects (INR bn) Projects .Sq.ft) .Sq.ft) .Sq.ft) MMR Owned 0.3 9.0 1 4.1 38.1 5 4.3 47.1 6 MMR JDA 1.3 20.0 1 2.1 63.3 4 3.4 83.3 5 Pune Owned 1.0 10.0 1 0.7 7.7 1 1.7 17.7 2 Pune JDA - - - 0.6 5.0 1 0.6 5.0 1 Bangalore Owned 0.7 10.0 1 1.0 12.9 2 1.7 22.9 3 Bangalore JDA 1.6 20.0 1 1.2 15.0 1 2.8 35.0 2 NCR JDA 1.1 29.5 2 - - - 1.1 29.5 2 Total 5.9 98.5 7 9.7 142.1 14 15.6 240.6 21 BUSINESS DEVELOPMENT 1QFY27 Market Period Added Saleable Area (msf) Est. GDV (in INR bn) Pune Q1 1.9 23 Total 1.9 23 Unsold GDV of INR ~2,000bn (excl. land forming part of LandCo), large enough for next 5 years growth MARKET WISE SUPPLY Planned Inventory Launches Residual Completed Ongoing In next 12 months1 12 to 60 months Collections unsold unsold Market from Sold units Land Bank Own Land JDA Projects Own Land JDA Project [Showing first 8,000 characters — download PDF for full document]