Outcome of Board meeting

f'OWER & URBAN rNFRA October 30, 2026 BSE Limited, National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot no. C/1, G Block, Dalal Street, Bandra-Kurla Complex, Bandra (E) Mumbai 400001 Mumbai - 400051 Scrip: 543490 Symbol: GMRP&UI Dear Sir/Madam, Sub: Outcome of Board Meeting -October 30, 2026 Ref: Intimation under Securities and Exchange Board of India {Listing Obligations and Disclosure Requirements) Regulations, 2015 {"Listing Regulations"). Pursuant to Regulation 30 and 33 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, ("Listing Regulations")' we wish to inform that the Board of Directors of the Company at its meeting held today i.e. October 30, 2026, has inter-alia considered and approved the Un-audited Financial Results (Standalone and Consolidated), for the quarter and half year ended September 30, 2026. In this connection, please find enclosed herewith Un-audited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2026 accompanied with the Limited Review Report thereon as Annexure. The Board Meeting commenced at 03:00 P.M. and concluded at 5:00 P.M. Please take the same on the record. Thanking you, for GMR Power and U/ <c~- o~Limited :,,.J) Vimlrakash {'~., Company Secretary & C~j;I ce Officer Encl: As above GMR Power & Urban Infra Limited Corporate Office: New Udaan Bhawan, Opp. Terminal 3, Indira Gandhi International Airport. New Delhi - 110 037 Registered Office: Unit No. 12, 18th Floor, Tower A, Building No. 5, DLF Cyber City, DLF Phase-Ill, Gurugram-122002, Haryana, India L45400HR2019PLC125712 +91 124 6637750, GPUIL.CS@gmrgroup.in www.gmrpui.com Walker Chandiok &_Co LLP Walker Chandiok & Co LLP L-41, Cori naught Circus, Outer Circle, New Delhi -110 001 India T+91 1145002219 F +91 11 4278 7071 Independent Auditor's Review Report on Standalone Unaudited Quarterly and Year to Date Financial Results of GMR Power and Urban Infra Limited pursuant to the Regulation 33 of the SEBI (listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of GMR Power and Urban Infra Limited 1. We have reviewed the accompanying statement of standalone unaudited financial results ('the Statement') of GMR Power and Urban Infra Limited ('the Company') for the quarter ended 30 September 2026 and the year to date results for the period 1 April 2026 to 30 September 2026, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations') 2. The Statement, which is the responsibility of the Company's management and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, Interim Financial Reporting ('Ind AS 34'), prescribed under section 133 of the Companies Act, 2013 ('the Act'), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the Act, and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit Accordingly, we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Chartered Accountants INalker Chand1ok & Co LLP IS registered with /1m1led liab11ity With 1dent1f1cat1on number AAC-2085 and has its registered office at L-~1 Offices 1r Berga1uru C~ana1garh C erabaa Koch1 Kolkata Mumbai Connaught Circus Outer Circle New Delhi 110001 India New Delh: No1aa ard Pune Walker Chandiok &_Co LLP 5. As explained in note 3(a) to the accompanying Statement, the Company has invested in GMR Consulting Services Limited ('GCSL'), subsidiary of the Company. The Company together with GCSL has investments in GMR Energy Limited ('GEL'), a subsidiary of the Company, amounting to Rs. 2,672.00 crore as at 30 September 2026. GEL has further invested in GMR Kamalanga Energy Limited ('GKEL') and GMR Warora Energy Limited ('GWEL'), both subsidiary companies. The carrying value of investment of the Company in GEL is dependent upon fair values of GKEL and GWEL. The aforementioned investments are designated at their respective fair values as at the reporting date as per Ind AS 109 - 'Financial Instruments'. With respect to aforesaid fair values, we draw attention to: (a) Note 3(b) to the accompanying Statement which states that the fair value of investment in GWEL considered for the purpose of determining the carrying value of aforesaid investment in GEL, is based on the valuation of GWEL performed by an external valuation expert using the discounted future cash flows method which is dependent upon favorable outcome of claims relating to transmission charges from Maharashtra State Electricity Distribution Company Limited ('MSEDCL') as explained below, which are under dispute and pending conclusion as on 30 September 2026, capacity utilization of plant in future years and certain other key assumptions as considered in the aforementioned valuation performed by an external valuation expert. The claims pertain to recovery of transmission charges from MSEDCL by GWEL. GWEL has disputed the contention of MSEDCL that the cost of transmission charges are to be paid by GWEL. However, based on the order of the Appellate Tribunal for Electricity ('APTEL') ('the Order') dated 8 May 2015, currently contested by MSEDCL in the Hon'ble Supreme Court and pending conclusion, GWEL had accounted for reimbursement of such transmission charges amounting to Rs. 616.33 crores in the Statement of Profit and Loss for the period from 17 March 2014 to 30 November 2020 as further detailed in aforesaid note. Further, GWEL has disclosed the aforesaid transmission charges and those invoiced directly to MSEDCL, a customer of GWEL, by Power Grid Corporation Limited for the period from 1 December 2020 to 30 September 2026 as contingent liability, as further described in aforesaid note. (b) Note 3(c) to the accompanying Statement which states that the fair value of investment in GKEL considered for the purpose of determining the carrying value of aforesaid investment in GEL is based on the valuation of GKEL performed by an external valuation expert using the discounted future cash flows method which is dependent on the achievement of certain key assumptions considered in aforementioned valuation such as expansion and optimal utilization of existing plant capacity, and timing and amount of settlement of disputes with customers, which are outstanding as on 30 September 2026 as further explained in the sai [Showing first 8,000 characters — download PDF for full document]