Analysts/Institutional Investor Meet/Con. Call Updates

November 7, 2026 To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C/1, Block G, Bandra Dalal Street, Mumbai- 400001. Kurla Complex (E), Mumbai- 400051. Scrip Code: 512008 NSE Symbol: EFCIL Sub.: Earnings Conference Call – Transcript. Dear Sir/ Ma’am, Pursuant to Regulation 30(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the copy of the transcript of Analyst/Investor Meet held on Tuesday, November 3, 2026. Pursuant to Regulation 46 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the above information is also being hosted on the Company’s website at https://efclimited.in/investor-relation/investor-presentation/ Kindly take the above information on record. Yours faithfully, For EFC (I) Limited Aman Gupta Company Secretary Encl.: As above EFC (I) Limited Regd. Office: 6th Floor, VB Capitol Building, Range Hill Road, Opp. Hotel Symphony, Bhoslenagar, Shivajinagar, Pune-411007, Maharashtra I CIN: L74110PN1984PLC216407 Tel.: 020 2952 0138 I Email Id: compliance@efclimited.in I Website: www.efclimited.in “EFC (I) Limited Q2 & H1 FY'27 Earnings Conference Call” November 03, 2026 MANAGEMENT: MR. UMESH SAHAY – CHAIRMAN AND MANAGING DIRECTOR – EFC (I) LIMITED MR. NIKHIL BHUTA – WHOLE-TIME DIRECTOR – EFC (I) LIMITED MR. UDAY VORA – CHIEF FINANCIAL OFFICER – EFC (I) LIMITED MR. AMAN GUPTA – COMPANY SECRETARY – EFC (I) LIMITED Page 1 of 19 EFC (I) Limited November 03, 2026 Moderator: Ladies and gentlemen, good day, and welcome to EFC (I) Limited Q2 and H1 FY27 Earnings Conference Call. 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 the conference call, please signal an operator by pressing star then zero on your touch-tone phone. Please note that this conference is being recorded. To discuss this quarter's performance, we have from the management, Mr. Umesh Sahay, Chairman and Managing Director; Mr. Nikhil Bhuta, Whole-Time Director; Mr. Uday Vora, Chief Financial Officer; and Mr. Aman Gupta, Company Secretary. Before we proceed with this call, I would like to mention that some of the statements made in today's call may be forward-looking in nature and may involve risks and uncertainties. For more details, kindly refer to the investor presentation and other filings that can be found on the company's website and stock exchanges. I now hand the conference over to Mr. Umesh Sahay for his opening remarks. Thank you, and over to you, Mr. Sahay. Umesh Sahay: Thank you. Thank you. Good morning, everyone. Thank you for joining us for EFC quarter 2 Financial Year 27 Earnings Conference Call. I would like to begin by thanking our shareholders, investor, customer and business partner for their continued trust and confidence in EFC. I'm pleased to share that we have continued to maintain encouraging business momentum during the second quarter, supported by our enterprise relationship execution capabilities and the growing strength of our integrated business model. Our 3 business verticals, Leasing, Design and Build, and Furniture Manufacturing continue to provide us with complementary growth opportunity, enabling EFC to participate across the commercial workspace value chain. Looking at the broader industry, the underlying market opportunity across all 3 verticals remain encouraging. India's office market recorded approximately 66 million square feet of absorption during the first 9 months of '26. In Design and Build, growing office demand expansion of GCC Global Capability Center and investment and data. Same time, India furniture approximately 25 to 29 billion is expected to grow steadily with increased preference for organizing and quality-focused manufacturer. This trend reinforce our confidence in the long-term growth potential of our business. An important trend we are witnessing is that enterprise are increasingly prioritized flexible, efficient and speed of execution in their workspace decision. Business today want ability to expand, consolidate or reconfigure their office requirement without significant upfront capital commitment. This created a strong opportunity for professional managed workspace. EFC asset-light leasing model, which does not depend on ownership of the underlying real estate allow us to address this evolving requirement while maintaining a focus on scalability and capital efficiency. Our Design & Build capability further strengthened our ability to deliver high-quality commercial space efficiently, while Furniture Manufacturing expand our participation in the Page 2 of 19 EFC (I) Limited November 03, 2026 broader interior and furnishing market together. This business position EFC as an integrated workspace solution provider rather than merely a conventional office leasing company. During the quarter, we have also taken important steps including our proposal, our proposed corporate restructuring and the acquisition of Ultrafresh. This initiative are aligned with our broader objective of building a more focused, integrated and scalable organization. Nikhil will elaborate on this development shortly. As we look ahead, our priorities remain clear, strengthening our enterprise relationship, maintaining execution excellence, improving capital efficiency and pursuing profitable, sustainable growth. Our ambition is not simply to build a larger EFC, but to build a stronger, more competitive and more valuable EFC, one that delivers consistent performance and create long-term value for all stakeholders. I remain confident in the opportunity ahead in our team's ability to execute our strategy. Thank you once again for your continued support. With that, I would now like to invite Mr. Nikhil Dilipbhai Bhuta to take you through our key business development and strategic initiatives. Thank you. Nikhil bhai. Nikhil Bhuta: Thank you, Umesh sir. Good morning to all our investors, analysts and stakeholders. Umesh sir has spoken about our performance during the quarter and the larger vision. I would like to take this forward and discuss 3 important aspects of our business. First, how our individual businesses are progressing and contributing to the overall platform; second, the strategic decisions we have taken, particularly the proposed corporate restructuring and acquisition of Ultrafresh. And third, how these initiatives are helping us build a stronger competitive position and create opportunities for sustainable growth. Business performance and operational progress can be briefed as under. Let me begin with our business performance. During Q2 FY27, we continue to focus on strengthening our operation across Leasing, Design & Build and Furniture Manufacturing. Starting with our Leasing business. This remains the foundation of our platform and an important source of recurring revenue. We continue to benefit from our established presence across multiple cities and our relationship with the enterprise customers. What is encouraging is the changing nature of our customer demand. Large enterprises and GCCs are increasingly looking for partners who can offer not only quality office infrastructure, but also flexibility, consistent services and ability to support their expansion across locations. Our experience in operating managed workspace and understanding enterprise requirements puts us in a good position to address these opportunities. Our focus is not simply on adding more seats. It is on improving utilization, strengthening customer relationship and ensuring that every center contributes meaningfully to the overall business. Page 3 of 19 EFC (I) Limited November 03, 2026 Now coming to Design & Build turnkey contracting solutions segment. This business continues to be an important part of our growth st [Showing first 8,000 characters — download PDF for full document]