Credit Rating- Revision

doshiena you are in safe hands Dated: 27% October 2026 To To The Secretary The Secretary BSELtd. National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers Exchange Plaza, Plot no. C/1, G Block Dalal Street, Mumbai - 400 001 Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051 Security Code No.: 523716 NSE Symbol: ASHIANA Sub: Intimation of Upward Revision of Credit Rating by CARE Edge This is to inform that as an outcome of the credit rating exercise, there has been a revision in the Credit Ratings by Care Edge as per the details given below: A. Upward revision in Issuer Rating: Existing rating - CARE A; Stable, Revised to - CARE A+; Stable B. Upward revision for the following outstanding Non-Convertible Debentures (NCDs) of the company listed on BSE Ltd: Sl. No. Particulars Existing Rating Revised Rating 1. | NCD Issue of INR 97 Crores CARE A; Stable CARE A+; Stable Date of Allotment: 31 May 2021 ISIN: INE365D08026 NCD Issue of INR 26.40 Crores CARE A; Stable CARE A+; Stable Date of Allotment: 20% July 2022 ISIN: INE365D08034 NCD Issue of INR 5.60 Crores CARE A; Stable CARE A+; Stable Date of Allotment: 23 February 2024 ISIN: INE365D08067 Ashiana Housing Ltd. 304, Southern Park, Saket District Centre, Saket, New Delhi — 110 017 CIN: L70109WB1986PLC040864 Regd. Office: 5F Everest, 46/C Chowringhee Road, Kolkata — 700 071 011-42654265, Email: investorrelations@ashianahousing.com Website: www.ashianahousing.com Revised Rating SL No. Particulars Existing Rating (Upward Revision) 4. | NCD Issue of INR 125 Crores CARE A; Stable CARE A+; Stable Date of Allotment: 13% May 2024 ISIN: INE365D07085 5. | NCD Issue of INR 100 Crores CARE A; Stable CARE A+; Stable Date of Allotment: 11% July 2025 ISIN: INE365D08075 6. | NCD Issue of INR 43.25 Crores CARE A; Stable CARE A+; Stable Date of Allotment: 24% April 2026 ISIN: INE365D08083 The rating letters issued by Care Edge for the abovementioned Issuer Rating and debt instruments are attached herewith for reference. Please take this information on your record. Thanking you, For Ashiana Housing Ltd. Nitin Sharma (Company Secretary & Compliance Officer) Mem No: ACS 21191 Care=dge RATINGS No. CARE/PRO/RL/2026-/122739 Shri Vikash Dugar Chief Finandal Officer Ashiana Housing Limited 3RD AND 4TH FLOOR, UNIT NO 402 AND 304, SOUTHERN, PARK, SAKET DISTRICT CENTRE, SAKET, South Delhi, New Delhi Delhi 110017 October 26, 2026 Confidential Dear Sir, Issuer Rating On the basis of recent developments including operational and financial performance of your Company for FY26 (Audited) and Q1FY27 (Unaudited), our Rating Committee has reviewed the following rating: Type of Rating Rating® Rating Action Issuer rating CARE A+; Stable Upgraded from CARE A; Stable 2. The rating is only an opinion on the general creditworthiness of the Company and not specific to any particular debt instrument. 3. The rating report for the rating will be communicated to you separately. A write-up (press release) on the above rating is proposed to be issued to the press shortly, a draft of which is enclosed for your perusal as Annexure 2. We request you to peruse the annexed document and offer your comments if any. We are doing this as a matter of courtesy to our clients and with a view to ensure that no factual inaccuracies have inadvertently crept in. Kindly revert as early as possible. In any case, if we do not hear from you by October 30, 2026, we will proceed on the basis that you have no any comments to offer. 4. CARE Ratings Ltd. reserves the right to undertake a surveillance/review of the rating from time to time, based on dircumstances warranting such review, subject to at least one such review/surveillance every year. “Complete definitions of the ratings assigned are available at www.careratings.com and in other CARE Ratings Ltd.'s publications. 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In such cases the credit rating symbol shall be accompanied by “ISSUER NOT COOPERATING". CARE Ratings Ltd. shall also be entitled to publicize/disseminate all the afore-mentioned rating actions in any manner considered appropriate by it, without reference to you. Our ratings do not factor in any rating related trigger dauses as per the terms of the facility/instrument, which may involve acceleration of payments in case of rating downgrades. However, if any such clauses are introduced and if triggered, the ratings may see volatility and sharp downgrades. Users of this rating may kindly refer our website www.careratings.com for latest update on the outstanding rating. 8. Our Issuer Ratings are not recommendations to buy or sell any securities of the issuer. If you need any clarification, you are welcome to approach us in this regard. Thanking you, Yours faithfully, o gowJ N 1l gy {{ushops Anannya Mishra Sonal Bhageria Lead Analyst Associate Director anannya.mishra@careedge.in sonal.bhageria@careedge.in Encl.: As above CARE Ratings Limited 9th Floor, Pride Kumar Senate, Plot No. 970, Corporate Office :4th Floor, Godrej Coliseum, Bhamburda, Senapati Bapat Road, Shivaji Nagar, Somaiya Hospital Road, Off Eastern Express Pune - 411016 Highway, Sion (E), Mumbai - 400 022 Phone: +91-20-4000 9000 Phone: +91-22-6754 3456 - www.careedge.in CIN-L67190MH1993PLC0O71691 Page 2 of 3 Disclaimer This disclaimer pertains to the ratings issued and content published by CARE Ratings Limited (*CareEdge Ratings”). Ratings are opinions on the likelihood of timely payment of the obligations under the rated instrument and are not recommendations to sanction, renew, disburse, or recall the concerned bank fadilties or to buy, sell, or hold any security. Any opinions expressed herein are in good faith and are subject to change without notice. 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