Slide 1: Corporate Presentation
CORPORATE PRESENTATION June 2026 1
Slide 2: Disclaimer
DISCLAIMER Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual
Slide 3: Lodha – Delivering Profitability & Growth, With Low Risk
LODHA – DELIVERING PROFITABILITY & GROWTH, WITH LOW RISK Profit & brand focused strategy, combined with low leverage – medium term trajectory of 20% PAT CAGR Strong profitability track record Brand & Operational Excellence Conservative leverage: Net debt ceiling of FY26 highlights < 0.5x D/E • Stron
Slide 4: Brand and Operational Strength
BRAND AND OPERATIONAL STRENGTH ENABLES UNIQUE COMBINATION OF GROWTH AS WELL AS DELEVERAGING INR Bn Pre - sales PAT1 Net Debt 205 34 160 ~28 % CAGR 176 28 > 6x 145 16 93 121 18 71 13 90 54 30 40 60 5 3.5x 0.8x 0.6x 0.2x 0.2x 0.2x FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 F
Slide 5: Focus to Deliver ~20% PAT CAGR
FOCUS TO DELIVER ~20% PAT CAGR INR Bn PAT 85 + ~20 % CAGR 35 FY26 FY31 With conservative leverage – ceiling of <= 0.5x Net D/E 5
Slide 6: Lodha's Right-to-Win
01 LODHA’S RIGHT – TO – WIN 6
Slide 7: Differentiated Business Model to Deliver Superior Returns (1/2)
DIFFERENTIATED BUSINESS MODEL TO DELIVER SUPERIOR RETURNS (1/2) Predictable and consistent Pre-sales growth from diversified presence Not dependent on any single segment, location or project Pre - sales • Presence across all segments - luxury, premium & mid-income • ~40 operating locations across MM
Slide 8: Differentiated Business Model to Deliver Superior Returns (1/2)
DIFFERENTIATED BUSINESS MODEL TO DELIVER SUPERIOR RETURNS (1/2) Superior Returns & Robust Cashflows • Bring to market expeditiously- launch within 9-12 months of land acquisition Fastest land to cash cycle • Accelerated monetization of land through product innovations – Apartments, plots & villas, b
Slide 9: ~20% ROE Through Mix of 'Owned' & 'JDA' Projects
~20% ROE THROUGH MIX OF ‘OWNED’ & ‘JDA’ PROJECTS Share of pre-sales in steady PBT Margin Profile ROE Profile state Owned land projects ~60% 27 - 30% 15% to 20% Joint Development ~40% 17 - 19% 30+% Agreement (JDA) Overall ~20% 9
Slide 10: DevCo Has Significant Headroom to Grow
DEVCO HAS SIGNIFICANT HEADROOM TO GROW Primary Home Sales in Top 6 cities – CY251: INR 5,900 Bn Lodha Pre-Sales2: INR 205 Bn Market share in Top 6 cities at ~3.5%, significant runway for growth 1. In top 6 Cities: MMR, NCR, Bengaluru, Pune, Hyderabad, Chennai; 2. FY26 pre-sales 10 Source (Market Dat
Slide 11: MMR
MMR Expanding presence across through ‘SUPERMARKET’ strategy 4. Thane 1. Extended Western Suburbs Vasai Naigaon Added 2 projects with GDV of INR 15bn Potential growth market for Lodha 1 Bhayander Absorption: INR 155bn Absorption: INR 120bn Mira Road Ghodbunder 4 Kalyan 5. Extended Eastern Suburbs Th
Slide 12: Pune
PUNE Will contribute to growth in a sustainable manner 1. Pimpri - Chinchwad 4. Central Pre-IPO, had 1 project With annual sales potential of INR >2bn Added 1 project with GDV of INR ~4bn Added 1 project with GDV of INR ~13bn Absorption: INR 24bn Absorption: INR 200bn 5. North - East 2. North - West
Slide 13: Bengaluru
BENGALURU Will contribute to growth in a sustainable manner 1. North West Potential growth market for Lodha Absorption: INR 96bn 4. North East Added 4 projects with GDV of INR 142bn 2. Central Absorption: INR 462bn Potential growth market for Lodha Absorption: INR 8bn 5. South East Added 3 projects
Slide 14: NCR
NCR Initiating pilot Rationale o Second largest real estate markets of India with 1 absorption of INR 1,355bn 2 205 o Dearth of trusted developers offering a premium quality product 30 • Signed two projects with GDV of INR 33 bn and development 468 3 potential of 1.1 msf through JDA in Gurgaon - To
Slide 15: Ongoing Infra Projects
ONGOING INFRA PROJECTS (Airport, Metro, Bullet Train, Multi-modal Corridor etc.) to supercharge Palava’s growth Mumbai – Ahmedabad Virar Extended Eastern Virar – Alibaug Multimodal Corridor High-Speed Rail (CY28/CY29) Suburbs (CY30) 1st bullet train station after BKC at Palava, Extended Western Puts
Slide 16: Mulund – Airoli – Palava Freeway
MULUND – AIROLI – PALAVA FREEWAY Likely to open imminently • Airoli as well as Mumbai to come closer to Palava with Mulund-Airoli-Palava freeway This freeway is a three part project: • Part A (Mulund - Airoli) – Opening soon • Part B (Airoli to Kalyan Shil Phata) – Opening Part A is significantly pr
Slide 17: Large Scale Data Centre Opportunity
LARGE SCALE DATA CENTRE OPPORTUNITY • Large integrated DC Park with reliable infra - 660 Acres of shovel ready land around Navi Mumbai, with approvals o Highly reliable power supply: 3 GW power availability (from state and national grid), to augment further o 5 optic fiber routes (existing) - will i
Slide 18: Budding Digital Ecosystem
BUDDING DIGITAL ECOSYSTEM Has led to value scale up at Palava • Three large global data centre player have checked into our DC Park o Latest transaction with Digital Edge at INR ~425mn/acre (Jun-26), substantially higher than previous transaction at INR ~210mn acre in CY25 425 INR mn / acre 16x in ~
Slide 19: Palava: Large Housing Price Arbitrage vs Mumbai's Core Suburbs
PALAVA: LARGE HOUSING PRICE ARBITRAGE VS MUMBAI’S CORE SUBURBS Substantial growth in revenues & margins to come over next 5 years Palava 11k - 14k Thane 18k - 25k BKC Airoli 52k - 16k - 72k 26k Mulund 25k - 33k Goregaon 33k - 47k Palava & Upper Thane set to deliver INR 10+ tn of sales over the next
Slide 20: Strong Management Team
STRONG MANAGEMENT TEAM Shaishav Dharia Sushil Kumar Modi Prashant Bindal Director Group Finance Director CEO – Lodha Residences 28 | 15 30 | 6 28 | 10 McKinsey & Company Aditya Birla Group & JSW Steel Walmart India & Coca Cola Beverages Rajib Das Sanjay Chauhan Rajesh Sahana CEO – Mumbai Suburbs Chi
Slide 21: Building Annuity Streams
02 BUILDING ANNUITY STREAMS 21
Slide 22: Gradually Building Annuity Income Pool (1/4)
GRADUALLY BUILDING ANNUITY INCOME POOL (1/4) ◼ Build 1 GW power shell DC on ~90 acres on BTS basis, rental potential of INR 20.0+bn by FY32 Data center Annuity income ◼ Focus on developing premium high street retail adjunct to residential developments ◼ 5 locations with ~5.1 msf ◼ Select high qualit
Slide 23: Rental Income Planned to Grow 10x by FY32 (vs FY26)
RENTAL INCOME PLANNED TO GROW 10X BY FY32 (VS FY26) Data Center, Retail & Office and Warehousing & Industrial (2/4) Annualized Rental income Estimated FY32 Annuity Asset Total Completed Already Balance Unit Area leased from area Annual Rental Type Area/Capacity invested investment Area leased as of
Slide 24: Retail & Office
RETAIL & OFFICE High Quality Completed Developments (3/4) Our head office: One Lodha Place High street retail at One Lodha Place Xperia Mall at Palava High street retail at Palava 24
Slide 25: Warehousing & Industrial
WAREHOUSING & INDUSTRIAL Steady growth potential (4/4) ✓ 5.1 msf area spread across 5 locations under development o Host to marquee names like Sketchers, Tesla, Zomato, Owens Corning, Schlumberger, DHL, NX Logistics, GXO Logistics, DP World & FM Logistics, Compass etc. One of MMR’s largest warehousi
Slide 26: Highlights
_— HIGHLIGHTS O83 -
Slide 27: Profitable Growth Focus
PROFITABLE GROWTH FOCUS INR bn Pre-sales Reported Revenue 205 176 167 145 138 121 95 103 90 92 60 54 FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 Reported EBITDA Adjusted EBITDA1 Adjusted PAT2 49 57 34 50 40 28 32 34 27 30 18 22 16 21 13 14 15 5 25.2% 23.6% 21.8% 25.9% 28.9% 29.5% 28.
Slide 28: Significant Operational Cashflow for Growth
SIGNIFICANT OPERATIONAL CASHFLOW FOR GROWTH INR bn Collections Operating cashflow at INR 71bn in FY26 152 71 145 66 57 57 113 106 86 40 51 FY21 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 28
Slide 29: Q1FY27 Operational Performance
Q1FY27 OPERATIONAL PERFORMANCE Pre-sales Collections Price Growth1 INR 46.3 bn (4% YoY) FY27 Guidance: INR 240 bn INR 42.1 bn (46% YoY) 3% in Q1FY27 H1 to be low 40s% of sales, balance in H2 Annuity Net debt Income INR 49.3 bn INR 3.0 bn • Reduction of INR 4.5bn QoQ • Net debt/ equity at 0.20x well
Slide 30: Q1FY27 Financial Performance
Q1FY27 FINANCIAL PERFORMANCE INR Bn Revenue Adj. EBITDA PAT 50.0 21.5 13.7 43% 79% >2x 34.9 12.0 6.8 34% 43% 19% 27% Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Expansion in Adj. EBITDA & PAT margin in Q1FY27 due to higher contribution from land sales Adj. EBITDA = After adding finance cost included i
Slide 31: Balance Sheet
BALANCE SHEET INR bn As at As at As at As at EQUITY AND LIABILITIES ASSETS June - 26 Mar - 26 June - 26 Mar - 26 Equity Share Capital 10.0 10.0 Tangible Assets 24.1 24.2 Other Equity 236.8 222.9 Intangible Assets 2.2 2.3 Non-Controlling Interests 1.4 1.4 Investments 28.0 14.5 Total Equity 248.3 234.
Slide 32: Business Development Q1FY27
BUSINESS DEVELOPMENT Q1FY27 Market Period Added Saleable Area (msf) Est. GDV (in INR bn) Pune Q1 1.9 23 Total 1.9 23 Unsold GDV of INR ~2,000bn (excl. land forming part of LandCo), large enough for next 5 years growth 32
Slide 33: Market Wise Supply
MARKET WISE SUPPLY Planned Inventory Launches Residual Completed Ongoing In next 12 months1 12 to 60 months Collections unsold unsold Market from Sold units Land Bank Own Land JDA Projects Own Land JDA Projects INR bn msf MMR 193.7 3.9 12.8 5.3 3.4 47.6 10.2 ~600 msf Pune 22.7 0.0 4.2 1.7 0.6 5.4 -
Slide 34: Growing in Sustainable Manner
04 GROWING IN SUSTAINABLE MANNER 34
Slide 35: Best-in-Class ESG Performance
BEST- IN - CLASS ESG PERFORMANCE S&P Global Corporate World’s Most Trustworthy Sustainability Assessment 2025 Companies 2025 Scored 78/100 in the S&P CSA retaining the Only Indian real estate co. to feature in the position in top 10 globally World’s Most Trustworthy Companies’ by Newsweek MSCI ESG R
Slide 36: Eminent Board of Directors
EMINENT BOARD OF DIRECTORS Abhishek Lodha Mukund Chitale Akhil Gupta Managing Director Independent Director and Chairman Independent Director • MSc. in Industrial & Systems engineering from • CA with >45 years of experience • CA with +40 years of experience Georgia Institute of Technology • Former V
Slide 37: Our Sustainability Strategy: Do Good, Do Well
OUR SUSTAINABILITY STRATEGY: DO GOOD, DO WELL We recognize ESG issues as long-term risks that also present opportunities for value creation when strategically addressed. Our strategy enables us to identify initiatives that amplify our impact and foster collaboration with our diverse stakeholders on
Slide 38: Strategy to Achieve the Overarching ESG Goals
STRATEGY TO ACHIEVE THE OVERARCHING ESG GOALS • Near-term targets: • Reduce absolute scope 1 and 2 GHG emissions 97.9% by FY2028 from a FY2022 base year • Reduce scope 3 GHG emissions 51.6% per square meter of area developed by FY2030 from a FY2022 base year • Long-term target: • Maintain at least 9
Slide 39: Progress Made in Environmental Sustainability
PROGRESS MADE IN ENVIRONMENTAL SUSTAINABILITY Overarching Achieve 97.9% reduction in Scope1, 2 emission in operations by the year 2028 Goals Align Scope 3 emissions reduction roadmap with 1.5 ℃ ambition Be resilient to climate change while not contributing to global warming Enabling switch to Electr
Slide 40: Progress Made in Social and Governance Dimensions
PROGRESS MADE IN SOCIAL AND GOVERNANCE DIMENSIONS Governance Social Board Our People Communities Diversity & Inclusion Enabling Livelihood for Women Women represent 18.6% of employee strength as Project Unnati - Aimed at empowering and Board led by an Independent of Mar-26 enabling women to particip
Slide 41: Lodha Foundation (LF)
LODHA FOUNDATION (LF) Contributing to nation building 1 2 3 4 Four focus Education for the areas Innovation Environment Indian Culture Gifted Board of Advisors comprising of some of India’s most esteemed Key Programmes: professionals & intellectuals: Aditya Puri Sanjiv Mehta Dr. Manjul Bhargava Lodh
Slide 42: Industry Tailwinds
05 INDUSTRY TAILWINDS 42
Slide 43: Transition to Middle Income
TRANSITION TO MIDDLE INCOME Real Estate to grow ~2x faster than the Indian economy GDP Growth USD ~3tn USD ~7-8tn ~2.5x FY22 FY31 FY22-31 Real Estate Contribution to 6-7% 13-15% Doubling of contribution GDP FY22 FY31 FY22-31 ~5x Real Estate Industry Size USD 200bn USD ~1tn FY22 FY31 (20% CAGR) FY22-
Slide 44: 14 Million New Homes Required for High Income Households This Decade
14 MILLION NEW HOMES REQUIRED FOR HIGH INCOME HOUSEHOLDS THIS DECADE VS LIKELY SUPPLY OF ~2.75 MILLION 2021 2030 Annual HH GDP: USD 3tn GDP: USD 7-8tn Housing completions in Top-7 cities: Income HH HH: 296mn HH: 386mn Cumulative 2.75 mn units over CY21-30 in the (AHI) Category high-income segment we
Slide 45: Strong Affordability Drives Conversion
STRONG AFFORDABILITY DRIVES CONVERSION Of housing need to demand Rapid urbanization to create need for quality urban housing Family nuclearization India – Urbanization (%) Urban Household size – no of person per 60 5.6 household 50 5.2 40 30 4.8 20 4.4 10 0 4.0 2021E 2026E 1981 1991 2001 2011 1950 1
Slide 46: Robust Job Creation to Sustain Housing Demand
ROBUST JOB CREATION TO SUSTAIN HOUSING DEMAND India’s average wage growth across industries has been sustained at 9-10% for long 10.7% 10.4% 10.4% Covid 10.6% 10.4% 10.2% 10.2% 9.5% year 9.3% 9.3% 9.3% 9.3% 9.1% 8.9% 6.1% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Wag
Slide 47: Supply Side Consolidating
SUPPLY SIDE CONSOLIDATING unlikely to keep pace with accelerating demand Multiple forces leading to consolidation…. …and market share gains for Top 15 listed developers ✓ Regulatory push: 23% RERA, Demonetization, GST, Amendment to Benami Act. ✓ Funding squeeze for Tier – 2 & 3 developers: o NBFC’s
Slide 48: 'Housing' Increasingly Becoming a Branded 'Consumer Product'
‘HOUSING’ INCREASINGLY BECOMING A branded ‘Consumer Product’ Consumed over decades Highest Investment value in lifestyle purchase of upgrade life Branded home Provides Tool for aspirational wealth address creation Provides quality assurance over long period 48
Slide 49: Steady As It Goes
STEADY AS IT GOES Mortgage an enabler, not inducer of demand Mortgage as % of GDP 89% ✓ Conservative Central Bank, low risk mortgage market: LTV < 85%, no teaser rates 68% 52% ✓ Strong performance of mortgages 44% 45% through all parts of the cycle - 34% 39% Intense competition for safe haven mortga
Slide 50: Low Risk to Margins from Construction Cost Inflation
LOW RISK TO MARGINS FROM CONSTRUCTION COST INFLATION • Construction costs typically forms 25% to 45% of the sales price o Of which, one-third is related to low skilled and semi-skilled labor: plentiful supply through migration from rural areas (250+ mn people estimated to be ‘underemployed’ in agric
Slide 51: Moderate Construction Cost Inflation
MODERATE CONSTRUCTION COST INFLATION April ’22 to June ’26 Commodity/Component % Share in total cost % Change Weighed Impact Steel 10.8% 0.0% 0.0% Flooring materials 5.0% -8.5% -0.4% Electrical 4.0% 6.9% 0.3% Plumbing 2.0% -13.3% -0.3% Labour 36.7% 26.6% 9.8% External Windows 3.4% 42.7% 1.5% RMC 11.
Slide 52: Thank You!
THANK YOU! FOR ANY FURTHER INFORMATION, PLEASE WRITE TO INVESTOR.RELATIONS@LODHAGROUP.COM 52