Monitoring Agency Report

Date: October 30, 2026 BSE Limited National Stock Exchange of India Limited PJ Towers, Floor 25, Exchange Plaza Dalal Street, Bandra Kurla Complex Mumbai — 400001 Bandra (East), Mumbai – 400 051 BSE Code: 544918 Symbol: LCCPROJECT Sub.: Submission of Monitoring Agency Report for the quarter ended on September 30, 2026. Dear Sir / Madam, Pursuant to Regulation 32(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 162A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, we are enclosing herewith the Monitoring Agency Report for the quarter ended September 30, 2026 in respect of utilization of funds raised through initial public o(cid:431)erings (IPO), issued by CARE Ratings Limited, duly reviewed, approved and taken on record by the Audit Committee and the Board of Directors of the Company in their meeting held on October 30, 2026. Please take the same on your records. Thanking you, Yours faithfully, For LCC Projects Limited Gayatri Desai Company Secretary and Compliance O(cid:431)icer ICSI Membership Number: A60858 No.: CARE/HO/GEN/2026-27/1193 The Board of Directors LCC Projects Limited LCC Corporate House Sindhubhavan Road, BS GTPL House Bodakdev, Behind Iskcon Temple, Gujarat, India - 380054 30/10/2026 Dear Sir/Ma’am, Monitoring Agency Report for the quarter ended 30/09/2026 - in relation to the IPO of LCC Projects Limited (“the Company”) We write in our capacity of Monitoring Agency for the IPO proceeds of amount aggregating to ₹258.00 crore of the Company and refer to our duties cast under Regulation 41 of the Securities & Exchange Board of India (Issue of Capital & Disclosure Requirements) Regulations. In this connection, we are enclosing the Monitoring Agency Report for the quarter ended 30/09/2026 as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated 03/09/2026. Request you to kindly take the same on records. Thanking you, Yours faithfully, Rishav Khaitan Assistant Director rishav.khaitan@careedge.in CARE Ratings Limited 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 Report of the Monitoring Agency Name of the issuer: LCC Projects Ltd For quarter ended: 30/09/2026 Name of the Monitoring Agency: CARE Ratings Limited (a) Deviation from the objects: NA (b) Range of Deviation: NA Declaration: We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/ statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the Companies Act, 2013. The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains and may receive separate compensation for its ratings and certain credit related analyses. We confirm that there is no conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the issuer, or while undertaking credit rating or other commercial transactions with the entity. We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable. There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA takes no responsibility for such comments of the issuer’s Management/Board. Signature: Rishav Khaitan Assistant Director CARE Ratings Limited 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 1) Issuer Details: Name of the issuer : LCC Projects Ltd Name of the promoter : Arjan Suja Rabari, Laljibhai Arjanbhai Ahir, Maya Arjan Rabari Industry/sector to which it belongs : Construction 2) Issue Details Issue Period : 09/09/2026 to 11/09/2026 Type of issue (public/rights) : Public issue (IPO) Type of specified securities : Equity shares IPO Grading, if any : Not graded Issue size (in crore) : ₹427.14 crore Care Ratings CARE Ratings Limited 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 3) Details of the arrangement made to ensure the monitoring of issue proceeds*: Source of information / Comments certifications considered by Comments of the of the Particulars Reply Monitoring Agency for preparation Monitoring Agency Board of of report Directors ₹42.66 crore was utilization towards, Approved  Bank statements issue expenses, prepayment of loan Whether all utilization is as per the disclosures in the Offer Document? Yes  Management certificate and GCP purposes in line with offer  Chartered account certificate  Prospectus document Whether shareholder approval has been obtained in case of material Not Not applicable Not applicable since no deviations deviations# from expenditures disclosed in the Offer Document? Applicable  Management certificate Whether the means of finance for the disclosed objects of the issue No such instances No No have changed?  Management certificate Is there any major deviation observed over the earlier monitoring Not Not applicable since this is the 1st Not applicable agency reports? Applicable  Management certificate report Care Ratings CARE Ratings Limited 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 Source of information / Comments certifications considered by Comments of the of the Particulars Reply Monitoring Agency for preparation Monitoring Agency Board of of report Directors Whether all Government/statutory approvals related to the object(s) Not No such approvals No such specific approval required have been obtained? Applicable  Management certificate are required Whether all arrangements pertaining to technical Not Not applicable Not applicable assistance/collaboration are in operation? Applicable  Management certificate Are there any favorable/ unfavorable events affecting the viability of No No No these object(s)?  Management certificate Is there any other relevant information that may materially affect the No No No decision making of the investors?  Management certificate *Not certified by CA #Where material deviation may be defined to mean: a) Deviation in the objects or purposes for which the funds have been raised b) Deviation in the amount of funds actually utilized by more than 10% of the amount projected in the offer documents. Care Ratings CARE Ratings Limited 4th Floor, Godrej Coliseum, Somaiya Hospital Road, Off Eastern Express Highway, Sion (East), Mumbai Phone: +91-22-6754 3456 • www.careedge.in CIN-L67190MH1993PLC071691 4) Details of objects to be monitored: (i) Cost of objects – Source [Showing first 8,000 characters — download PDF for full document]