Investor Presentation

October 30, 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 Sir/Ma’am, Sub: Investor Presentation on Unaudited Financial Results for the quarter and half year ended September 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 (Consolidated and Standalone) for the quarter and half year ended September 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) Sanjay Chauhan Chief Financial Officer Encl.: As above INVESTOR PRESENTATION Second Quarter FY 2027 | October 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 18 Growth Drivers 22 Company Overview 34 Annexures 43 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 52.8bn, 0.21x Equity as on Sept-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) in Navi Upper Thane in MMR; largest major metro land Mumbai • Present across luxury, prem. & mid-income segments holding of any developer in India through ~40 operating locations in MMR, Pune, • 5 GW power approved, further increase feasible Bengaluru & NCR (starting FY27) • Location witnessing transformative infrastructure • Phase 1 (~3.5 GW): upgrades Long growth runway • AWS, STT & Digital Edge already developing 1+ • Market share of <3.5% (value terms) in primary housing GW sales in Top 6 cities (current 4 + Hyderabad and • Plan to build 1 GW powered shell (BTS), largely self- Chennai) funded from sale of balance Phase 1 capacity Strong visibility Retail, Office and Industrial & Warehousing • Unsold GDV of INR ~2,000bn (excl. land forming part of LandCo): Limited business development required • Performance from existing assets ahead of underwriting over next few years, substantially increasing free cash flow • Good growth visibility 4 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 – Q2FY27 (1/2) • INR 44.7 bn ( 18% YoY) in Q2FY27 Revenue • INR 94.6 bn ( 30% YoY) in 1HFY27 Expect to easily exceed PAT guidance • INR 10.1 bn ( 28% YoY); PAT margin at 22.1% vs 20.4% in Q2FY27 for the • INR 23.9 bn ( 63% YoY); PAT margin at 24.6% vs 19.5% in 1HFY27 • Only Indian real estate company to feature in the World’s Most Trustworthy Companies’ List by Newsweek, 2nd year in a row • Lodha Mathematical Sciences Institute (LMSI) – Launched third thematic programme, to ESG & Brand run over Jul - Dec’26 Performance o Hosted over 55 researchers this quarter, with more than 90 researchers from 15 countries expected over the semester, strengthening global collaboration in mathematical research OTHER HIGHLIGHTS – Q2FY27 (2/2) Pre-sales Collections Price Growth1 INR 50.4 bn (10% YoY) INR 34.5 bn (Flat YoY) 4% Average INR 96.7 bn in 1HFY27 (7% YoY) INR 76.5 bn in 1HFY27 (19% YoY) YTD price growth FY27 Guidance: INR 240 bn Annuity Net debt Income INR 52.8 bn INR 3.2 bn •Increase of INR 3.5bn QoQ •Net debt/ equity at 0.21x well below (Annualized basis exit rental on Sept-26) ceiling of 0.5x •Avg. cost of debt steady at 7.8% 1. YTD, on like to like basis CASHFLOW INR Bn Particulars Q2FY27 1H FY27 Total Collections 34.5 76.6 Collections from ‘DevCo’ 33.3 74.4 Income from ‘RentCo’ 1.2 2.2 Net Collections1 31.1 69.9 Operating Expenses 22.4 42.2 Const Expense 13.2 26.5 SG&A 5.8 10.9 Taxes 3.3 4.9 Operating CashFlow 8.8 27.6 Interest 1.7 3.1 Surplus for Growth & Capital Providers 7.1 24.6 Growth Investments in ‘DevCo’ business2 5.6 17.1 Investment in ‘RentCo’3 1.2 2.7 Surplus for Capital Providers 0.3 4.8 Dividend to Equity providers 3.7 3.7 (Increase )/ Decrease in Net Debt (3.4) 1.0 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 Q2FY27 INR Bn Average Sales Price on Saleable Market Pre-Sales1 Collections2 Construction spends Area (INR psf) MMR 24.9 22,130 22.6 9.3 Of which Extended Eastern Suburbs 4.0 7,403 4.1 2.9 Pune 5.3 10,221 4.2 2.6 Bengaluru 18.6 12,997 4.9 1.4 Others3 1.6 - 1.6 - Total 50.4 33.3 13.2 1. Pre-sales includes DM Sales of INR 0.4bn; 2. Collections from DM sales not included; 3. Land sales to govt and others MARKET PERFORMANCE FOR 1H FY27 INR Bn Average Sales Price on Market Pre-Sales1 Saleable Area Collections2 Construction spends (INR psf) MMR 65.7 25,552 54.2 19.4 Of which Extended Eastern Suburbs 22.9 7,241 21.5 6.3 Pune 7.5 10,372 8.2 4.9 Bengaluru 20.6 13,033 7.9 2.2 Others3 2.9 - 3.9 - Total 96.7 74.4 26.5 1. Pre-sales includes DM Sales of INR 0.6bn; 2. Collections from DM sales not included; 3. Land sales to govt and others LAUNCHES IN 1H FY27 New Project / Location New Phase Total Launch Market Period 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 Q1 - - - 0.4 3.3 2 0.4 3.3 2 MMR Q2 - - - 0.8 10.8 3 0.8 10.8 3 Pune Q2 - - - 0.5 5.0 1 0.5 5.0 1 Bangalore Q2 1.8 21.7 1 - - - 1.8 21.7 1 Total 1.8 21.7 1 1.7 19.1 6 3.5 40.8 7 ROBUST DEV CO LAUNCH PIPELINE FOR REST OF FY27 New Projects New Phase of existing projects Total Market Area Est. GDV No of Area Est. GDV No of Area Est. GDV No of (Mn .Sq.ft) (INR bn) Projects (Mn .Sq.ft) (INR bn) Projects (Mn .Sq.ft) (I [Showing first 8,000 characters — download PDF for full document]