Analysts/Institutional Investor Meet/Con. Call Updates

30 July 2026 BSE Limited National Stock Exchange of India Limited Corporate Services, Exchange Plaza, Piroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai 400051 Security BSE NSE ISIN Equity Shares 532313 MAHLIFE INE813A01018 Sub: Transcript of Earnings Conference Call - Regulations 30 & 46 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) Ref: Intimation of earnings call vide letters dated 15 July 2026, and Outcome and audio / video recording of earnings conference call dated 24July 2026 Dear Sir / Madam, In compliance with Regulation 30(6) read with Schedule III and other applicable provisions of the Listing Regulations, please find enclosed the transcript of the earnings call for the 1st quarter ended on 30 June 2026 (“Financial Results”), held on Friday, 24 July 2026, with several Analysts/Institutional Investors/Funds. The transcript includes list of management attendees and the dialogues including but not limited to the Questions & Answers. The text transcript and audio / video recordings of the Q1FY27 earnings call are also uploaded on the website of the Company at the weblink: https://www.mahindralifespaces.com/investor-center/financial-reporting/investor- conferences-and-earning-calls/ No Unpublished Price Sensitive Information was shared / discussed by the Company during the earnings call. This intimation will also be uploaded on the website of the Company and can be accessed at weblink: https://www.mahindralifespaces.com/investor-center/shareholder-and-services/material- disclosure-intimation/ For Mahindra Lifespace Developers Limited Bijal Parmar Company Secretary & Compliance Officer “Mahindra Lifespace Developers Limited Q1 FY27 Earnings Update” July 24, 2026 MANAGEMENT: Mr. Amit Sinha - MD and CEO, MAHINDRA LIFESPACES DEVELOPERS LIMITED Mr. Vimalendra Singh - CBO Residential, MAHINDRA LIFESPACES DEVELOPERS LIMITED Mr. Vikram Goel - CBO Industrial, MAHINDRA LIFESPACES DEVELOPERS LIMITED Mr. Sriram Kumar – CFO, MAHINDRA LIFESPACES DEVELOPERS LIMITED INVESTOR RELATIONS : Mr. Devavrat Mastakar Page 1 of 11 Mahindra Lifespace Developers Limited July 24, 2026 Devavrat Mastakar: Good afternoon, everyone, and a very warm welcome. I would like to thank everyone for joining this conference call. We have with us today: • Mr. Amit Sinha - Managing Director and CEO. • Mr. Vimalendra Singh - CBO Residential. • Mr. Vikram Goel - CBO Industrial. • Mr. Sriram Kumar - Chief Financial Officer. Today's meeting will begin with a brief presentation covering our operational and financial highlights following which we will reply to the questions asked. I would now like to hand over the conference to Mr. Amit Kumar Sinha, Managing Director and CEO of Mahindra Lifespace Developers Limited. Thank you and over to you, Sir. Amit Sinha: Is there are way to know if they are able to hear us well? Devavrat Mastakar: Whether we are audible? Amit Sinha: Okay. I hope you can all hear us otherwise we'll go for next 20-30 minutes without knowing. Devavrat Mastakar: Yes, Sir. Amit Sinha: Okay, good So I'll go ahead with key highlights. I think from the presentation you go to next page; the video, yeah. (Video plays 01.18-02.23) That was Mahindra Beacon Hill. Go back a little bit, one slide back. We just launched that. We are in the process of marketing and all the sales will start netting out in the next few weeks. We had our channel partner meeting earlier this week on Beacon Hill; quite a successful evening. And this picture, I think, we're showing it for the first time. Have we shown this before? No? This is about the Phase-1 of Mahindra Rainforest, Bhandup. So, we call it Mahindra Rainforest, Kanjur NX. So, this is Olympic size, Olympic length, swimming pool. Lots of amenities, lots of green. Phase-1 is part of the broader residential. The broader residential will have a huge green cover. It will be a forest that will have roughly 4 acres and we'll share the details when we have the RERA approval for those phases. So, let me quickly cover some highlights for us in this quarter. I think I will not spend time but we continue to have clarity on what strategy we are pursuing across all these themes. Portfolio choices, business development engine, superior customer experience, making sure the project execution is first time right, excellent, maximizing value from IC & IC. And then across all of our efforts, making sure that we have very robust financial discipline. Key highlights – • Resi presales, ₹925 crores. • Successful launch of Rainforest. • We got maybe 2-3 weeks of sale time in this quarter. As you know, this quarter had the impact of Iran war. Obviously, March was practically slow for many but April was very limited footfall. In May recovery happened. So, our sales and marketing effort really started from May and June middle onward we started netting. And that's what you see here, reflected here. It has done well for us and, you know, we are still in the launch phase. I think we are seeing the momentum continue with us in July. • Sustenance Sales contributed 42% of sales. So, Blossom, Vista, Marina64, IvyLush, those are our sustenance sale contributors. • There are five more launches planned later this year – #Mahalunge, we are in the final stages of approvals. # Lakewoods; same. #Sai Baba, Navaratna, West Era expected in H2 of this year, second half. • We have also received 3 OCs - Eden, Phase-2, Luminar and Palghar 2.1.8 is in second phase, building number 2. Phase-2 8th building. That's the 2.1.8. • Sustained BD momentum. We had one major deal announcement in Kandivali of roughly 15 acre land parcel, ₹5600 crores of GDV, total GDV of ₹50,000 crore, which is very healthy for us. Page 2 of 11 Mahindra Lifespace Developers Limited July 24, 2026 • IC&IC side; very good news yesterday or day before when we signed the partnership with Sumitomo. As you know, Sumitomo partnership was signed first phase in 2015- 16, second one November’2024 and now Phase-2B. So, they continue to be an important partner with us. • We have a strong pipeline heading into Q2. Q1 was a little bit lumpy, as you know this business. So, Q1 was shorter in terms of conversions. We see a significant pipeline for Q2. • We are accelerating our land aggregation in Origins, Pune and we'll make a headway in the remaining part of this year. Financials, Sriram will cover them in detail but overall between Resi and IC, ₹966 crore, 70% year-on-year growth. At 67% of ₹86 crore, Resi collections healthy. More work for us to do. But because the sales were a little bit back-ended in the quarter, a big part of sales will come in Q2 and IC collections tend to be a big contributor for us and also should happen along the deal closure. Prudent, robust balance sheet. • Net Debt/Equity of -0.2. So, we have more, healthy cash across our subsidiary. • Then our debt, all the debt is mostly ICD with the Group and some CPs that we have with the banks. So, that's the key highlights. We'll move to the next page in terms of GDV growth. Yeah, roughly ₹50,000 crore GDV. I'll point to the middle column, in blue font, K2 Kandivali has been added ₹5,600 crore. So, that's a meaningful addition this year. Many of you have asked us what is our target for GDV this year. I think we have had 2 successful years of ₹18,000 crore each. We want to maintain the momentum but we want to sign the right deals. And I want to make sure that the deals align with our strategic aspiration and they meet our financial guardrail. So, I expect anywhere from ₹10,000-₹20,000 crores to happen in this year. Obviously, they are lumpy, we are looking for a large size deal but right deals for us. So, you'll keep hearing about them as we win some of these new deals. Launches; I think you see this is a nice chart, shows our trajectory for multiple years. We are hoping to maintain the trajectory. A good set of launches planne [Showing first 8,000 characters — download PDF for full document]