NSEMonitoring Agency Report3 Aug 2026 · 3 Aug 2026, 06:06 pm
Monitoring Agency Report
Hubtown Limited · HUBTOWN
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Brickwork Ratings India Private Limited has submitted the eighth and final monitoring agency report for Hubtown Limited for the quarter ended June 30, 2026, indicating no deviation from the objects of the issue and a true and fair view of the utilization of the issue proceeds.
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Earnings Impact5/10
Growth Catalyst2/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk1/10
Liquidity Impact5/10
Market Sentiment5/10
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Monitoring Agency Report for the Quarter ended 30 June, 2026 of Hubtown Limited
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HUBTOWN_03082026180645_MonitoringAgencyReport30062026.pdf
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August 03, 2026
BSE Limited National Stock Exchange of India Limited
The Corporate Relationship Department The Listing Department
1st Floor, P.J. Towers, Dalal Street Exchange Plaza, Bandra Kurla Complex,
Fort, Mumbai – 400 001 Bandra (East), Mumbai – 400 051
Scrip Code: 532799 Symbol: HUBTOWN
Sub: Monitoring Agency Report for the quarter ended June 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 the SEBI (Issue of Capital and Disclosure
Requirements) Regulations, 2018, please find attached the Monitoring Agency Report for the quarter
ended June 30, 2026 issued by Brickwork Ratings India Private Limited, the Monitoring Agency
appointed by the Company for Monitoring utilization of proceeds raised through Preferential Issue of
Equity Shares, Compulsorily and Mandatorily Convertible Debentures (CCDs) and Warrants
convertible into Equity Shares.
You are requested to take the above information on record.
Thanking you,
Yours faithfully,
For Hubtown Limited
Shivil Kapoor
Company Secretary & Compliance Officer
Membership No F11865
Encl: a/a
Brickwork Ratings India Private Limited
BRICI<V\fORKTM
3rd Floor, Raj Alkaa Park, Kalena Agrahara
Bannerghatta Road, Bengaluru - 560 076
RATINGS
P: +91 80 4040 9940/9999
Monitoring Agency Report for
Hubtown Limited
for the quarter ended
June 30, 2026
info@brickworkratings.com I www.BrickworkRatings.com I CIN: U67190KA2007PTC043591
Brickwork Ratings India Private Limited
BRICI<V\fORKTM
3rd Floor, Raj Alkaa Park, Kalena Agrahara
Bannerghatta Road, Bengaluru- 560 076
RATINGS
P: +91 80 4040 9940/9999
No. BWR/2026-27/IPM/HUOS
July 30,2026
Mr. Sunil Mago
Chief Financial Officer
Hubtown Limited
Hubtown Seasons, Opposite Jain Temple,
R. K. Chemburkar Marg,
Chembur (E), Mumbai 400071
Dear Sir,
Eighth and Final Monitoring Agency Report for the quarter ended June 30, 2026-in relation
to the Equity Shares, Compulsorily Convertible Debentures and Warrants Issue of
Hubtown Limited ("the Company"}
Pursuant to Regulation 162A of SEBI (Issue of Capital and Disclosure Requirements) Regulations,
2018 ("SEBIICDR Regulations") and Monitoring Agency Engagement Letter dated July 31, 2024,
Brickwork Ratings (BWR) has prepared the Eighth and Final Monitoring Agency Report, as per
Schedule XI of the SEBIICDR Regulations towards utilization of proceeds of funds raised, for the
quarter ended June 30,2026.
The funds raised by the Company were through Preferential Placement of Equity Shares,
Compulsorily Convertible Debentures (CCDs) and promoters' preferential issue through Share
Warrants aggregating toRs 1,209.00 1Crore of the Company.
In this connection, we are enclosing the Monitoring Agency Report for the quarter ended June 30,
2026, as per aforesaid SEBI Regulations and Monitoring Agency Agreement dated July 31, 2024.
Request you to kindly take the same on records.
Thanking you,
Yours Faithfully,
Digitally signed by NIRN KUMAR RATHI
NIRAJ KU M A RD N: c=IN, posta1Code=560076, st=KARNATAKA, street=293 AND 322 3RD
FLOOR BRICKWORK RA11NG51NDIA PVT LTD RN ALKAA PARK,KALENA
AGRAHARA, BANNERGHATTA ROAD KARNATAKA, I=BENGALURU URBAN,
o=BRICKWDRK RATINGS INDIA PRIVATE LIMITED, ou=CDMPANY,
seria1Number=3a14b9a64ba1 027f9471 ea7be2c4b4c46c2116fb54cSaa33
RATHI aa4c4d7490c50cec, pseudonym=71e2d68268f4684aee77adbee1612657,
25.4.20=2ab3c4f77900BCScfOd6fl Oa644a5b66f2fffe98879fceb8ac14a145
8144e1 bd, emaii=NIRN.R@BRICKWORKRATINGS.CDM, cn=NIRN KUMAR
RATHI
Date: 2026.07.30 17:55:42 +05'30'
Mr Niraj Kumar Rathi
Senior Director, Ratings-Brickwork Ratings
1 The issue proceeds have been revised from Rs 1,212 crore to Rs 1,209 crore on account of
undersubscription of the equity shares portion of the preferential issue resulting from the non-receipt of
subscription amount from one of the investors.
info@brickworkratings.com I www.BrickworkRatings.com I CIN: U67190KA2007PTC043591
Brickwork Ratings India Private Limited
BRICI<V\fORKTM
3rd Floor, Raj Alkaa Park, Kalena Agrahara
Bannerghatta Road, Bengaluru- 560 076
RATINGS
P: +91 80 4040 9940/9999
Report of the Monitoring Agency (MA)
Name of the issuer: Hubtown Limited
For quarter ended: June 30, 2026
Name of the Monitoring Agency: Brickwork Ratings India Private Limited
(a) Deviation from the objects: No
(b) Range of Deviation: Not applicable
Declaration:
We declare that this report is based on the format prescribed by the SEBI (/CDR) Regulations, 2018, we
further declare that this report provides a true and fair 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.
We declare that we do not have any direct/indirect interest in or relationship with the
issuer/promoters/directors/management and also confirm that we do not perceive any conflict of interest
in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the
issuer.
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 a 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 I 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.
NIRAJ KUMAR D ONlg : l cb =ll Iy Ns , l pg on se tad 1 Cby oN deIR =5A 6J 0 K 07U 1M 5A , sR t= R KA AT RH NI ATAKA, street=293 AND 322 3RD FLOOR
BRICKWORK RATINGS INDIA PVTLTO RAJ Al..KAA PARK,KALENAAGRAHA.RA,
BANNERGHATTA ROAD KAIIIIA.TAKA, I=BENGAWRU URBAN, o=BRICKWORK RATINGS
INDIA PRIVATE LIMITED, ou=COMPANY,
RATHI s 5e 0r cia e1 cN , pu sm ;eb ue dr= on3a y1 m 4 =b 79 1a e6 24 db 6a 81 20 62 87 f1 '4'9 64 87 41 ile ea e7 7b 7e i2 ldc b4 eb e4 1c 64 16 2c 62 51 7 1 ,6 fb54c5aa33aa4c4d7490c
2.5.4.20=2ab3c4t779008c5cf0d6ft Qa644a5b6tif2flfe98879fceb8ac14a1458144e1 bd,
emaii=NIRAJ.MBRICKWORKRATlNGS.COM, cn=NIRAJ KUMAR RATHI
Date: 2026.07 30 17:.56:04 +05'30'
Signature:
Name of the Authorized Signatory: Mr Niraj Kumar Rathi
Designation of Authorized Person/Signing Authority: Senior Director, Ratings, Brickwork
Ratings
info@brickworkratings.com I www.BrickworkRatings.com I CIN: U67190KA2007PTC043591
Report of the Monitoring Agency (MA)
Name of the issuer: Hubtown Limited
For quarter ended: June 30, 2026
Name of the Monitoring Agency: Brickwork Ratings India Private Limited
(a) Deviation from the objects: No
(b) Ra
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