Transcript of Q1 FY27 Earnings Conference Call dated July 27, 2026

GANESH== HOUSING .. LIMITED " (formerty known as Ganesh Housing Corporation Limited) ISO 9001 :2015 I ISO 14001 :2015 ISO 45001 :2018 REF.NO./GHL/AHMD/2026-2027/363E DATE: JULY 29, 2026 To To BSE Limited National Stock Exchange of India Ltd. Corporate Relation Department Exchange Plaza, Phiroze Jeejeebhoy Towers Plot No. C/1, G Block Dalal Street, Bandra-Kurla Complex Mumbai - 400 001 Bandra (E), Mumbai -400 051 REF: Security Code No. 526367 REF: Company Symbol: GANESHHOU Dear Sir/Madam, Sub: Transcript of Ql FY27 Earnings Conference Call dated July 27, 2026 In continuation of our letters dated July 21, 2026, July 24, 2026 and July 27, 2026 please find enclosed the transcript of Ql FY27 Earnings Call on Un-Audited Financial Results of the Company for the quarter ended June 30, 2026 for your information and records. The above mentioned transcript is also available on our website viz. https://ganeshhousing.com/assets/pdf/financial presentation/ql 27 earnings call transcript.pdf Thanking you, Yours faithfully, For GANESH HOUSING LIMITED (formerly known as GANESH HOUSING CORPORATION LIMITED) JASMIN JANI COMPANY SECRETARY & COMPLIANCE OFFICER Encl: As above GANESH CORPORATE HOUSE 100 ft. Hebatpur-Thaltej Road, Nr. Sola Bridge, Off. S.G. Highway, Ahmedabad-380 054. Gujarat, India. CIN:L45200GJ1991PLC015817 P +91 79 6160 8888 E ganesh@ganeshhousing.com W www.ganeshhousing.com GANESH~ HOUSINGIII LIMITED.., “Ganesh Housing Limited Q1 FY27 Earnings Conference Call” July 27, 2026 GANESH~ HOUSINGIII C HOA US ♦ CA LLfl LIMITED.., MANAGEMENT: MR. RAJENDRA SHAH – CHIEF FINANCIAL OFFICER, GANESH HOUSING LIMITED MR. NEERAJ KALAWATIA – VICE PRESIDENT (FINANCE), GANESH HOUSING LIMITED MR. B. RAVI – CORPORATE & FINANCIAL ADVISOR, GANESH HOUSING LIMITED MODERATOR: MR. RAJAT GUPTA – GO INDIA ADVISORS Page 1 of 14 GAN ESH -==-® HOUSINGIIII LIMITED.., Ganesh Housing Limited July 27, 2027 Moderator: Ladies and gentlemen, good day and welcome to Ganesh Housing Limited Q1 FY27 Earnings Conference Call hosted by Go India Advisors. As a reminder, all participants’ 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 “*” and “0” on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Rajat Gupta from Go India Advisors. Thank you and over to you, sir. Rajat Gupta: Yes, thank you, Palak. Good afternoon, everyone and welcome to Ganesh Housing Limited Earnings Call to discuss the Q1 FY27 Results. We have on the call with us today, Mr. Rajendra Shah – Chief Financial Officer, Mr. Neeraj Kalawatia – Vice President (Finance) and Mr. B. Ravi – Corporate & Financial Advisor. We must remind you that the discussion on today's call may include certain forward-looking statements and must be therefore viewed in conjunction with the risks that the company faces. I now request Mr. B. Ravi to take us through the company's Business Outlook and Financial Highlights, subsequent to which we will open the floor for Q&A. Thank you and over to you, sir. B. Ravi: Thank you, Rajat. Good afternoon, everyone, and a warm welcome to Ganesh Housing Limited's Q1 FY27 Earnings Conference Call. Thank you to all of you for taking out time to join us today and for your continued interest, trust and confidence in our company. This quarter marks another important milestone in our journey as an organization. Over the last few years, we have consciously transformed Ganesh Housing from being predominantly a residential developer into a diversified real estate platform with multiple long-term growth engines. We have remained disciplined in capital allocation, selective in project development, and focused on building assets that not only create near-term cash flows but also enhance long- term shareholder value. The 1st Quarter of FY27 reflects the early outcomes of this strategy. While the reported financial performance like any real estate business continues to be influenced by project mix and the timing of revenue recognition, operationally, the company has made meaningful progress across various strategic initiatives. More importantly, we believe we are entering a phase where years of patient investment in land, infrastructure, and execution capabilities are beginning to translate into tangible business opportunities. I shall be talking about the numbers a little later. Page 2 of 14 GAN ESH -==-® HOUSINGIIII LIMITED.., Ganesh Housing Limited July 27, 2027 One of the defining characteristics of Ganesh Housing has always been our ability to anticipate energetic growth corridors and invest ahead of the market. This philosophy has enabled us to create one of Ahmedabad's largest fully paid land banks, strategically located across some of the city's fastest-growing micro-markets. Today, with approximately 510 acres of land reserves, a strong execution pipeline, and a healthy balance sheet, we believe the company is exceptionally well-positioned to capitalize on the next phase of Ahmedabad's real estate growth. The micro-environment also continues to remain favorable. Ahmedabad is steadily evolving into one of India's most attractive real estate destinations, supported by sustained infrastructure investments, improved metro connectivity, rapid urban expansion, the continued development of gift city, and increasing interest from domestic as well as global businesses. The city’s emergence as a preferred destination for technology companies, manufacturing enterprises, and global capability centers is creating demand not only for premium residential developments but also for world-class commercial infrastructure. The selection of Ahmedabad as one of the host cities for the 2030 Commonwealth Games, further strengthens our confidence in the city's long-term growth trajectory. Against this backdrop, our strategic priorities remain unchanged. We continue to focus on four key pillars: 1. Timely execution of our existing residential developments. 2. Creating a sustainable commercial leasing platform through Million Minds. 3. The disciplined monetization of selected land assets to optimize capital allocation. 4. Finally, expanding our development pipeline through selective land acquisitions in high-potential locations. We believe that maintaining the right balance across these priorities will enable us to deliver consistent growth while preserving financial discipline. Let me now discuss the progress of our key projects: The most significant development during the quarter has undoubtedly been the progress of Million Minds Tech City, which represents a transformational project for Ganesh Housing and the beginning of our commercial annuity business. Following the successful inauguration of Phase-I, the project has entered its final stages of completion. Fit-out activities are progressing well, and we remain on track for lease rentals to commence during the 4th Quarter. This will mark an important milestone as recurring rental income begins to complement our traditional residential development business. Regarding the leasing portions, we have continuously gained momentum. We are pleased to share that approximately 60% of the leasable area is already under active discussion. To further elaborate, the total LoIs already executed are to the tune of about 43%, that's about 2.64 lakh Page 3 of 14 GAN ESH -==-® HOUSINGIIII LIMITED.., Ganesh Housing Limited July 27, 2027 square feet. An additional 15%-20% of the area is under various stages of negotiation and conclusion. Only some portions of the SEZ part remain, and we are confident that the full leasing will be completed in the next two, three months. And that's the reason why we have guided that the full rentals would start from Q4 of FY27. The interest and the demand is primarily coming from GCCs, technology companies, and managed co-working spaces. These disc [Showing first 8,000 characters — download PDF for full document]