Analysts/Institutional Investor Meet/Con. Call Updates

Date: November 06, 2026 To, To, The Listing Department, Department of Corporate Services National Stock Exchange of India Ltd BSE Limited Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex,Bandra (E) Dalal Street, Fort, Mumbai – 400 051 Mumbai - 400 001 NSE Symbol: PERNIASPOP BSE Scrip Code: 544901 Sub: Transcript of Earnings Conference Call on financial results of the Company for the quarter and half year ended September 30, 2026. Dear Sir/Madam, Pursuant to Regulation 30 read with Para A of Part A of Schedule III to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of Earnings Conference Call on financial results of the Company for the quarter and half year ended September 30, 2026, held on Tuesday, November 03, 2026. The copy of transcript is also available on the Company’s website at https://www.purplestylelabs.com/. Thanking you, For and on Behalf of Purple Style Labs Limited Gulshan Mumtaz Khan Company Secretary and Compliance Officer Membership Number: A57061 Address: CTS No. 1081, Plot No. 110, TPS Village, Service Road, Western Express Highway, Vile parle (East), Mumbai, Maharashtra – 400057, India. “Purple Style Labs Limited Q2 & H1 FY27 Earnings Conference Call” November 03, 2026 “E&OE: This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchanges on November 03, 2026, will prevail.” MANAGEMENT: MR. ABHISHEK AGARWAL – WHOLE-TIME DIRECTOR AND CHIEF EXECUTIVE OFFICER – PURPLE STYLE LABS LIMITED STRATEGIC GROWTH ADVISORS, INVESTOR RELATIONS ADVISORS – PURPLE STYLE LABS LIMITED Page 1 of 16 Purple Style Labs Limited November 03, 2026 Moderator: Ladies and gentlemen, good day and welcome to the Q2 and H1 FY27 Earnings Conference Call hosted by Purple Style Labs Limited. 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 touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Abhishek Agarwal, Whole Time Director and Chief Executive Officer from Purple Style Labs Limited. Thank you and over to you, sir. Abhishek Agarwal: Hi, good afternoon everyone and welcome to our Q2 and H1 FY27 earnings conference call. Along with me, we have SGA, our Investor Relations Advisors. I hope all of you have gone through the Investor Presentation uploaded on the exchanges and our company website. For all those who are joining for the first time, please refer to Slide 3 on our presentation for a quick overview of our core business, Pernia's Pop-Up Shop, which is one of India's largest and fastest-growing multi-designer luxury omnichannel platforms serving customers across domestic and international markets. We have 1,100 plus active designers and 2 lakh plus products listed on our online platform. We operate 14 stores in 11 cities, including 2 international stores in London and New York. Next, on Slide 4, you will find a summary of our growth journey since PSL acquired Pernia's Pop-Up Shop in February 2018, when it was primarily an online-only platform. Moving to Slide 5. So let's start today's call by understanding what are the key drivers of our business? The luxury consumer base is broadening in India beyond the ultra-rich, and there's a shift in spending towards personal consumption. In parallel, the wedding and occasion wear industry is also getting boost from multiple celebrations and events, especially in the high-end weddings, and the rising affluence is fueling aspiration for differentiated occasion wear. Further, the Indian designer brands industry is leveraging the high growth of both of these trends in luxury market. Our industry has seen emergence of hundreds of new designer labels over the last decade, which is compounding aspiration, discovery, and splurging on Indian designer wear. Over the next few slides, let us understand the growth trajectory of each of these 3 industries in parallel to one another. First, let's start with the landscape of India's luxury industry. On Slide 6, you can see that luxury consumption in India continues to grow across categories driven by rising disposable incomes and evolving consumer aspirations. The luxury consumption in India is estimated to touch INR7.6 lakh crores by 2040, which is approximately USD8 billion, (Wrongly said, this should be read as, The luxury consumption in India is estimated to touch INR7.6 lakh crores by 2040, which is approximately USD80 billion) growing at around 13% CAGR. Pernia's Pop-Up Shop omnichannel platform currently operates in the apparel and accessories category primarily, with recent foray into real jewellery from our flagship stores. Now let's move Page 2 of 16 Purple Style Labs Limited November 03, 2026 to Slide 7 to understand the size of the wedding and occasion wear industry, where luxury segment offers a strong growth opportunity. The luxury wedding and occasion wear industry is expected to reach INR1.35 lakh crores by 2040 with a higher CAGR versus the overall industry, thereby increasing its share from 6% in 2025 to 15% in 2040. Pernia's Pop-Up Shop majorly sells luxury wedding and occasion wear through its large-format flagship stores and is one of the largest and fastest-growing players in this segment. Moving to Slide 8, we have given insights into the top 1,000 designer brands as an industry, which is our core market. Indian designer wear market has grown very rapidly over the past decade to currently over INR10,000 crores and is expected to cross INR1 lakh crores by 2040. The consumer base for top 1,000 Indian designers is also expected to grow approximately 4 times to 1.5 million by 2040. Riding on these industry tailwinds, Pernia's Pop-Up Shop continues to strengthen its market leader position as a global omnichannel platform for Indian designer brands. We have already grown our market share in the core top 1000 designers market from 2% to 6% between 2020 to 2025 and are targeting INR2,100 crores GMV by 2030 with more than 8% market share. Our long-term target is to achieve INR20,000 crores GMV with an 18% market share by 2040. Now let's move to Slide 9, where we have presented an analysis on how we approach the growth from the angle of customer matrix. The key driver of our long-term growth strategy is simultaneously expanding our customer base and increasing our wallet share within the Indian designer wear buyers. As per industry projections, the Indian designer wear customer base is expected to grow to 1.5 million by 2040. In the same time frame, we are looking to increase the percentage of customers shopping from Pernia's Pop-Up Shop from 20% in 2025 to 25% by 2030, with a long-term target of 40% by 2040. Apart from widening our customer base, we also see a significant potential in increasing average spending of our customers. In the 2020 to 2025 growth phase, we had increased our average wallet share from designer wear customers from 17% in 2020 to 32% in 2025 and are currently targeting to grow the same by 34% by 2030 and 45% by 2040 in the long term. Our customer strategy is not limited to just adding more customers but also build deeper customer relationships capturing a large share of their overall Indian designer wear spending. Now before we move forward, let us glance through Slide 10 to familiarize ourselves with our historical journey through 3 distinct generations which was also a part of our Q1 presentation. The first generation from FY19 to FY21 was about laying the foundation. The second generation from FY22 to FY24 was about scaling the footprint and deepening category in luxury womenswear and menswear segment. In the third generation after FY24, we consciously trimmed the long tail of bot [Showing first 8,000 characters — download PDF for full document]