Analysts/Institutional Investor Meet/Con. Call Updates

Date: July 27, 2026 BSE Limited The National Stock Exchange of India Limited Department of Corporate Services Exchange Plaza, Plot No C/1, G Block PJ Towers, Dalal Street Bandra Kurla Complex Mumbai – 400 001 Mumbai – 400 051 Scrip Code: 532784 Scrip Code: SOBHA Dear Sir/Madam(s), Sub: Transcript of Meeting with Analysts/ Institutional Investors In continuation of our letter dated July 15, 2026, please find enclosed herewith the transcript of the conference call held on Tuesday, the 21st day of July 2026 with the Analysts/ Institutional Investors to brief on the Operational and Financial performance of the Company for the quarter ended June 30, 2026. We request you to take the aforesaid information on record in terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and the same is available on the website of the Company. Yours sincerely, FOR SOBHA LIMITED Bijan Kumar Dash Company Secretary & Compliance Officer Membership No. ACS 17222 SOBHA LIMITED Regd & Corporate Office: SOBHA Limited, Sarjapur - Marathahalli, Outer Ring Road (ORR), Devarabisanahalli, Bellandur Post, Bengaluru - 560103, Karnataka, India. CIN: L45201KA1995PLC018475 | Tel: +91 80 49320000 | www.sobha.com | Email: investors@sobha.com “SOBHA Limited Q1 FY ’27 Earnings Conference Call” July 21, 2026 MANAGEMENT: MR. JAGADISH NANGINENI – MANAGING DIRECTOR – SOBHA LIMITED MR. YOGESH BANSAL: – CHIEF FINANCIAL OFFICER – SOBHA LIMITED MODERATOR: MR. ADHIDEV CHATTOPADHYAY – ICICI SECURITIES LIMITED Page 1 of 13 SOBHA Limited July 21, 2026 Moderator: Ladies and gentlemen, good day, and welcome to SOBHA Limited Q1 FY ’27 Earnings Conference Call hosted by ICICI Securities. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star, then zero on your touch-tone phone. Please note that this conference is being recorded. I would now like to hand over the call to Mr. Adhidev Chattopadhyay from ICICI Securities. Thank you, and over to you, sir. Adhidev Chattopadhyay: Yes. Good evening, everyone. Thank you for joining us on the SOBHA Limited Q1 FY ’27 Results Call today. As always, from the management, we have with us Mr. Jagadish Nangineni, the Managing Director; and Mr. Yogesh Bansal, the Chief Financial Officer. I would now like to hand over the call to the management for their opening remarks. Over to you. Thank you. Jagadish Nangineni: Thank you, Adhidev. Good evening, everyone, and thank you for joining us on this Q1 FY ’27 earnings call. I thank all the investors, analysts, and stakeholders for taking time to be with us today. Our operational update was earlier shared in the month, and the detailed investor presentation is available on our website. Today, I’ll briefly cover the key business and operational highlights for the quarter. And our CFO, Mr. Yogesh Bansal, will walk you through the financial performance in greater detail. I’m pleased to share that Q1 FY ’27 has been a landmark quarter for SOBHA in terms of sales. We achieved our highest ever quarterly real estate sales, recording sales value of INR3,656 crores, representing 76% increase year-on-year. We sold 2.34 million square feet across 1,432 homes with an average realization of INR15,655 per square feet, reflecting the strength of our product portfolio and brand. Bangalore once again emerged as our strongest market, contributing 57% of the quarterly sales of about INR2,067 crores, driven by good response to our launches of SOBHA One World and Sacred Grove, a plotted development. The NCR region also delivered its highest ever quarterly sales with a sale value of about INR1,384 crores, mainly driven by a successful launch of SOBHA Crescent in Gurgaon, reaffirming our strategy of expanding in high-growth micro markets. Together, these launches significantly contributed to our record quarterly performance. In SOBHA One World, out of the overall 3,484 homes across 47.4 acres, we released 3.4 million square feet. And out of the released, we could sell about 40% at the launch. Page 2 of 13 SOBHA Limited July 21, 2026 In SOBHA Crescent, we sold about 60% in Q1 FY ’27. During the quarter, we launched 3 new projects across Bangalore and Gurgaon with a combined saleable area of 6.89 million square feet and a potential sale value of about INR10,000 crores. These launches further strengthen our development pipeline and provide strong visibility for future growth. Execution continued to remain our core strength. During the quarter, we completed 677 homes covering 1.08 million square feet across multiple projects. Consistent project delivery remains central to our business model and enables faster revenue recognition while reinforcing customer confidence in the SOBHA brand. We plan to complete about 6 to 6.5 million square feet for FY ’27 as against last year’s completion of about 5.4 million square feet, which can be about 20% higher. Our development portfolio continues to provide strong long-term growth visibility. We currently have a forthcoming launch pipeline of about 20.77 million square feet across 17 projects. Of this, we are confident of launching 9 projects, aggregating approximately 8.2 million square feet during the remaining period of FY ’27. So, the planned launches comprise 4 projects in Bangalore, about 3 million square feet, 2 projects in NCR, about 2 million square feet, 1 project in Hyderabad, which is about 1.7 million square feet and 2 projects in Kerala, at about 1.5 million square feet. This pipeline provides us with confidence in sustaining the growth momentum over the medium term. As end of Q1 FY ’27, we also have 14.94 million square feet of unsold inventory. Both put together, the forthcoming launch pipeline and our current unsold inventory, we have a strong visibility of inventory to be sold in the coming quarters and the years. We envisage our net debt to be at about 0 level for this year. Another important strength of our business continues to be our balance sheet. We ended the quarter with a net cash position of about INR659 crores, while maintaining a low leverage, low borrowing cost of about 7.62%. Our operational cash inflow remained quite healthy at INR1,924 crores despite higher investments in land acquisition and project expansion. This financial strength gives us flexibility to continue investing in future growth while maintaining a prudent capital allocation strategy. On the financial performance front, we reported a total income of INR1,330 crores, representing a growth of nearly 48% year-on-year. The remaining P&L details will be covered by our CFO. Our future earnings visibility continues to be very strong. As end of this quarter, the company has INR20,553 crores of revenue yet to be recognized from the sales that have already been done. We would see margin expansion as we complete the projects that we have sold from FY ’23. Page 3 of 13 SOBHA Limited July 21, 2026 Our backward integrated operating model continues to differentiate SOBHA in the market. During the quarter, our other businesses generated revenue of about INR170 crores, and we have a good order book visibility for those businesses. Our commercial rental has a total income of about INR23 crores. In the steady-state run rate, we expect, in this financial year also to be similar to last financial year in terms of revenue for the other businesses. Looking ahead, we remain quite optimistic about the new launch pipeline that we have. And we see a good customer demand for our products, and we believe the company is well positioned to sustain this growth momentum and deliver long-term value. With that, I would like to hand over our call to our CFO, Mr. Yogesh Bansal, who will take you through the financial performance in greater detail. Yogesh Bansal: Good evening, everyone. Q1 FY ’27 quarter reflects i [Showing first 8,000 characters — download PDF for full document]