Analysts/Institutional Investor Meet/Con. Call Updates

Godrej Properties Ltd. Godrej One, 5th Floor, Pirojshanagar, Eastern Express Highway, Vikhroli (E), Mumbai- 400 079. India Tel.: +91-22-6169-8500 Fax: +91-22-6169-8888 Website: www.godrejproperties.com CIN: L74120MH1985PLC035308 August 06, 2026 BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra (East), Mumbai – 400 051 Ref: Godrej Properties Limited BSE - Scrip Code: 533150, Scrip ID – GODREJPROP BSE - Security Code - 974951, 975090, 975091, 975856, 975857, 976000 - Debt Segment NSE Symbol - GODREJPROP Sub: Transcript of the conference call with the investors/ analysts. Dear Sir/ Madam, Pursuant to Regulation 30 read with Schedule III Part A, Para A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of the conference call organized with the investors/ analysts on Tuesday, August 04, 2026, post declaration of Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026. This is for your information and records. Thank you. Yours truly, For Godrej Properties Limited Ashish Karyekar Company Secretary Enclosed as above “Godrej Properties Limited Q1 FY 2027 Earnings Conference Call” August 04, 2026 MANAGEMENT: MR. PIROJSHA GODREJ – EXECUTIVE CHAIRPERSON – GODREJ PROPERTIES LIMITED MR. GAURAV PANDEY – MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER – GODREJ PROPERTIES LIMITED MR. RAJENDRA KHETAWAT – CHIEF FINANCIAL OFFICER – GODREJ PROPERTIES LIMITED MR. KSHITIJ JAIN – INVESTOR RELATIONS – GODREJ PROPERTIES LIMITED Page 1 of 17 Godrej Properties Limited August 04, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Godrej Properties Q1 FY 2027 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 and then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Kshitij Jain from Investor Relations. Thank you, and over to you, sir. Kshitij Jain: Thank you, Raghav. Good afternoon, everyone, and thank you for joining us on Godrej Properties Q1 FY 2027 Results Conference Call. We have with us Mr. Pirojsha Godrej, Executive Chairperson; Mr. Gaurav Pandey, Managing Director and CEO; and Mr. Rajendra Khetawat, CFO of the company. Before we begin this call, I would like to point out that some statements made in today's call may be forward-looking in nature. The forward-looking statements are based on expectations and may involve risks. The outcome may differ materially from those suggested by such statements, and a disclaimer to this effect has been included in the results presentation. I would now like to invite Mr. Pirojsha Godrej to make his opening remarks. Over to you, Pirojsha. Pirojsha Godrej: Good afternoon, everyone. Thank you for joining us for Godrej Properties First Quarter Financial Year '27 Conference Call. I'll begin by discussing the highlights of the quarter, and we then look forward to taking your questions and suggestions. GPL achieved a booking value of INR8,651 crores, a year-on-year growth of 22% from the sale of 3,738 homes with a total area of 6.2 million square feet. This is the sixth consecutive quarter in which GPL has exceeded INR7,000 crores booking value. Booking value in the first quarter was driven by strong demand in several new project launches, including Godrej Vanantara, which had INR3,237 crores of sales, Godrej Samaris in Gurugram, which had INR1,248 crores of sales and Godrej Brooklyn Avenue in Hyderabad, which was launched right at the end of June and sold INR300-odd crores in June and has sold a similar amount since then. Incidentally, Godrej Vanantara is the third project in Bengaluru to achieve a booking value of more than INR3,000 crores in the last 3 years. Bookings contributions were led by Bengaluru at 44%, followed by MMR at 21%, NCR at 18% and Pune and Hyderabad at 11% and 5%, respectively. GPL has thereby achieved 22% of its annual guidance for booking value for the financial year. Collections in the first quarter stood at INR4,348 crores, year-on-year growth of 18%. Operating cash flow in the first quarter stood at INR399 crores, a decline of 58%. Direct construction spend increased by 41% year-on-year in quarter 1. Page 2 of 17 Godrej Properties Limited August 04, 2026 While OCF in Q1 was very weak, we expect our operating cash flow to meaningfully increase in the rest of the year and grow to approximately INR9,000 crores for the full year. GPL added 3 new projects with an estimated saleable area of approximately 8 million square feet and expected booking value of INR9,500 crores. With this, we achieved 48% of annual guidance for business development in the first quarter. For the first quarter, the total income declined by 16% to INR1,337 crores. EBITDA declined by 40% to INR545 crores and net profit declined by 42% to INR350 crores. This is because we had only one project completion in Q1, and that was of a DM structure project. We remain on track for 13.5 million square feet of delivery in the full year and for achieving 20% ROE in financial year '28. With a robust launch pipeline and strong balance sheet, we are confident of delivering another strong year. On that note, I conclude my remarks. Thank you all for joining us on the call. We'd now be happy to discuss any questions, comments or suggestions you may have. Moderator: Thank you very much. Your first question comes from Puneet with HSBC. Please go ahead. Puneet: Congrats on good sales bookings here. My first question is with respect to your view on the various markets that you operate in. Which markets do you feel more excited about? Where are you bit worried? And how are you thinking about business development in those areas? Gaurav Pandey: Thanks for the question. One of the interesting things we've seen from a data perspective at an aggregate level, right, that the first 6 months H1 performance for overall Indian residential industry has been very strong. I think the only laggard in the game from a quarter 1 perspective, Pan India would be, give or take, Gurugram, which also I think quarter 2 would see a good uptick because the supply has not hit in Gurugram as much in quarter 1 than we expect in quarter 2. But you'll be surprised that in many markets, the absorption has increased between 10% to 25% level. It's quite a strong aberration. So, I think overall market seems to be quite strong. From a relative perspective, I would say Bangalore and Hyderabad and Noida clearly doing exceedingly well as markets. I think Bombay, it is, I would say, core Bombay, which is western suburbs, micro markets of South Bombay and Thane are doing very strong. These I would say are highly attractive markets. But early days, even Pune is looking slightly better than what it was, say, in the last 2-odd years. So, I would say when we were entering the year, I was thinking that we would be an outlier. There could be a very different market, but the year has started with a very strong note for the marketing in general and of course, for us. Puneet: Understood. And on the cost side, have you been feeling any impact of cost increases, availability of labor, etcetera, given that you have now scaled up massively and there has been some chatter about minimum wages going up, etcetera? Gaurav Pandey: There is a 2.6% minimum wage or so in some markets that have hit, but broadly, nothing that was not planned for because wage rate inflation is a very predictable event. And when you buy land, especially in the model that we have, we do model the typical wage rate inflation. But I Page 3 of 17 Godrej Properties Limited August 04, 2 [Showing first 8,000 characters — download PDF for full document]