SHRIRAMPPSNSE12 November 2025

Shriram Properties Limited has informed the Exchange about Investor Presentation

Shriram Properties Limited

November 12, 2025

National Stock Exchange of India Limited The Listing Department Exchange Plaza, 5 Bandra-Kurla Complex, Bandra (E) Mumbai 400 051 Scrip Code: SHRIRAMPPS

Floor Plot C 1 – G Block

BSE Limited Dept of Corporate Services Phiroze Jeejeebhoy Towers Dalal Street, Fort Mumbai 400 001 Scrip Code: 543419

Dear Sir/Madam, Sub: Investor Presentation

Pursuant to the provisions of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please �ind enclosed the Investor Presentation on the Unaudited Financial Results (Standalone & Consolidated) of the Company for the second quarter and half-year ended September 30, 2025.

We request you to take the above information on record.

Thanking you Regards For Shriram Properties Limited

K. Ramaswamy Company Secretary & Compliance Of�icer ACS 28580

Encl: a/a

Shriram Properties Limited ‘Shriram House’, No. 31, T Chowdaiah Road, Sadashivanagar, Bengaluru - 560 080

Registered office: Lakshmi Neela Rite Choice Centre, 1 Floor, #9, Bazulla Road, T. Nagar, Chennai – 600 017

P: +91-80-40229999 | F: +91-80-41236222 | W: www.shriramproperties.com

CIN No. : L72200TN2000PLC044560 Email: cs.spl@shriramproperties.com

Investor Presentation Q2 | H1 FY26 Results

Artist’s impression of Shriram Songs of the Earth, Bangalore

November 12, 2025

This presentation and the accompanying slides (the “Presentation”), which have been prepared by Shriram Properties Limited (the “Company” or “SPL”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information/data, which the Company considers reliable, but makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the real estate sector in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.

Shriram Properties Overview

Legacy of Leadership

25+ Years of Trust & Excellence Strong presence across Bengaluru, Chennai, Kolkata & Pune

Proven Delivery Excellence

48 Projects Completed 29.2 msf Delivered Delivering quality spaces with precision and consistency

Customers at the Heart

Unblemished Credit Reputation

31,000+ Happy Customers 23% Referrals Volume Building lasting relationships through trust and satisfaction

Debt Equity of 0.3x CRISIL A- (Positive) Rated A testament to strong governance and financial discipline

A credible mid market, mid-premium residential real estate brand in core markets

Built on Legacy. Driven by Performance. Trusted by Thousands

Q2|H1 FY26 Overview

Artist’s impression of Shriram 107 Southeast, Bangalore

Challenging Quarter On Regulatory Transition Impact in the Region SPL Performance Satisfactory amidst Macro Headwinds; Strong Recovery Seen in H2

Greater Bengaluru Authority (GBA) &

eKhata Transitionary impacts

• Bengaluru undergoing landmark transition

- Rollout of the Greater Bengaluru Governance Act

- BBMP restructured into 5 Corporations

- Came into effect from Sep’25, but stabilizing still

• Transitionary impact on the RE Sector in Q2

• BBMP stopped processing; New authorities not operational until recently, impacting approvals

• Encouraging signs of normalcy with swift

administrative action and proactive measures since Oct’25, augurs well for Q3/H2.

• Regional sector impacted by delayed OCs and non-availability of eKhata – in turn affecting customer handovers, registration & revenue recognition

Strong YoY Growth Trends; But Absolute Earnings Modest on Deferred Revenues

Strong H2 Outlook Driven by Robust Launch Pipeline and Project completions

• Operational KPIs reflect strong business trends

• Recently launched projects witnessing strong

• Q2 financials suffered on deferred handovers

sales traction.

- Completed projects awaiting OC & eKhata - Revenue recognition deferred from Q2, over 650

units, across 5 projects with Rs. 420+ Crs of revenue potential

• Low revenue base impacted profitability;

Further compounded by certain one-off costs - One-time settlement related to Ashiana land in

Kolkata

- New launch campaigns costs in Bangalore and Pune

• Margin pressures temporary; To normalize with

healthy handovers in H2.

• Revenue and earnings rebound likely in H2

• Mid-market and mid-premium segments continue to show healthy absorption

• Pricing trends remain firm and upward

• Positive market conditions, coupled with launch

line-up, should deliver robust H2

• New project completion on track. Coupled with normalcy in approvals, stronger handovers and revenue recognition forecast for H2

Normalcy returning since End Oct’25; Recouping lost ground likely in H2 FY26

Management confident of Full Year Targets

Current Status of Deferred OC / eKhata from H1|Q2

Completed Projects Impacted by eKhata for Handovers

2Projects, 350+ Units 170+ Crs

Revenue recognition deferred due to eKhata in completed Projects

Completed Projects Impacted by Delay in OC’s for Handovers

3Projects, 300+ Units 250+ Crs

Revenue recognition deferred due to non receipt of OC in Completed Projects

5Projects, 650+ Units 420+ Crs

Revenue recognition deferred due to non receipt of OC & eKhata in Completed Projects

All delayed OCs (except one) received and eKhata process begun already; To support revenues in H2FY26

Q2|H1 FY26 Highlights

Artist’s impression of Shriram Sapphire, Bangalore

KPI Snapshot : Q2|H1 FY26

6 2 Y F 2 Q

6 2 Y F 1 H

39% QoQ 10% YoY

55% QoQ 21% YoY

15% QoQ 7% YoY

3% QoQ 30% YoY

1.14 msf

685 ₹ Crores

388 ₹ Crores

764# Units

Sales Volume

Sales Value

Collections

Handovers

13% YoY

19% YoY

6% YoY

34%YoY

1.96 msf

1,126 ₹ Crores

725 ₹ Crores

1504# Units

Sales Volume

Sales Value

Collections

Handovers

• Strong sequential growth in sales, driven by robust launch performance during Q2.

• Robust customer handovers & income recognition likely in H2.

___________ Notes: 1 msf = Million Square Feet / # JV accounted for 56% & 50% of Handovers in Q2FY26 & H1FY26)

Financial Performance Snapshot : Q2 FY26

48% YoY

34% YoY

73% YoY

6 2 Y F 2 Q

Revenues ₹ 229Crs.

Gross Profit ₹ 61Crs.

EBIDTA# ₹ 23Crs.

PAT ₹ 9Crs.

• Satisfactory performance despite macro headwinds on the regulatory front

• Strong YoY growth trends, on low base, but absolute revenues and earnings subdued. Set to rebound

strongly in H2

• Project profitability remains healthy, reflecting strong business fundamentals. Gross Margins above 30%

levels in Q2 and in H1FY26

• Revenue recognition set to gain momentum with ongoing normalization of OC/CC/eKhata processes

___________ Notes: 1 msf = Million Square Feet / # (EBIDTA includes Share of JV profit)

33%

YoY

56%

YoY

89%

YoY

Revenues

₹ 482Crs.

Gross Profit

₹ 137Crs.

EBIDTA#

₹ 65Crs.

PAT

₹ 20Crs.

Performance Highlights: Q2|H1 FY26

Operational Highlights

Financial Highlights

BD Highlights

• Q2 Sales volume up 39% QoQ; Sales Values up 55% QoQ. Healthy contribution from 3 key launches

• Strong YoY trends on low base of last year; Absolute earnings modest, due to deferred handover/revenues in Q2

• Accelerated pipeline addition efforts paying-

off, meeting expectations

• 5 projects with 2.3msf (Rs.2,350 GDV) added

• H1 sales at ~2 msf, valued at Rs.1,126 Crs

• H1 Total Revenues up 34% YoY to Rs.491 Crs

so far in FY26

(~40% of FY26 target)

• Seasonal momentum and robust launch pipeline to boost sales growth in H2

• Collection up 15% QoQ to Rs. 388 Crs in Q2; To gain further momentum with planned handovers and new launches during H2

• 764 units handed over in Q2; H1 handovers at a new high of 1,500+ units. Nearly 50% at JVs, thus limiting topline impact

• Robust construction activity across projects

• New construction at recently launched

projects, to drive momentum further in H2

• Gross margin strong at 30% in Q2; 32% in H1

• 5 projects with 6+ msf potential at advanced

• EBITDA nearly flat at Rs.70crs and PAT at

stage of closure, likely during H2

Rs.29 Crs in H1FY26

• Focus remains on Bangalore, Pune & Chennai

• Skewed H2 handovers to boost PAT in H2

• Unlocked Rs.76 Crs cashflows from operation; Invested Rs.143 Crs in new projects during H1

• BD focused on asset light acquisitions, but right balance of outright for immediate growth

• Healthy closing cash balance at Rs.286 Crs; To support aggressive construction and pipeline addition during H2

________________ Note: Data presented herein reflects aggregate for the Company, covering all projects under all development formats viz., Own, JV/JDA and DM;

Business Development Highlights

Bangalore North

Hinjewadi (Pune)

Bangalore North

Bangalore South

• Product: Villas • Ownership: ORP • GDV Addition: ₹ 200 Crs • Saleable Area: 0.2 msf • Location Highlights:

Enriched with esteemed educational institutions, including international schools and renowned colleges.

• Product: Apartment • Ownership: JDA • GDV Addition: ₹ 500 Crs • Saleable Area: 0.6 msf • Location Highlights:

Project is strategically located adjacent to the upcoming large state park in Yelahanka, one of North Bengaluru’s most promising residential hubs.

• Product: Apartment • Ownership: JDA • GDV Addition: ₹ 700 Crs • Saleable Area: 0.7 msf • Location Highlights:

Strategically located in a high-demand residential corridor, the product is designed to set new benchmarks in vertical living.

• Product: Row Houses • Ownership: JDA • GDV Addition: ₹ 600 Crs • Saleable Area: 0.5 msf • Location Highlights:

Strategically positioned in one of North Bengaluru’s most coveted micro- markets, positioned beside the soon-to-be-unveiled Madappanahalli Biodiversity Park.

• Product: Villaments • Ownership: JDA • GDV Addition: ₹ 350 Crs • Saleable Area: 0.3 msf • Location Highlights:

Exceptional connectivity, a thriving social infrastructure, and a balance of urban convenience with natural tranquility.

Pipeline added

GDV Added

Strong momentum in Business development:

2.3 msf

2,350 Rs. Crores

• On track to add 5-6 projects with 6+ msf of potential during H2.

• Projects at advanced stage of diligence closure & documentation.

• 20+ msf projects are under active evaluation

Driving Growth the Asset-Light Way, with an Eye for the Right Outright

Project Pipeline & Business Development Overview

Project Pipeline (msf)

Upcoming Projects 18.6 msf GDV

Upcoming – 18.6 msf

37.1

Ongoing – 18.5 msf

7.8

5.9

18.5

9.4

17.1

2.9

1.8

4.0

Own

JDA

Ongoing

Own

JDA

1.0

2.7

1.5

DM Upcoming Post Q2

Total

BD Momentum Snapshot

3+ msf

Closure stage

3+ msf

Advanced stage

20+ msf Under active evaluation

Ownership

- Own

- JDA

- JV

- DM

Total GDV – Upcoming Projects

Rs. Crs.

4,990

4,770

580

1,130

11,470

✓ 5 Project with GDV potential of Rs. 2300+ Crs added

✓ Couple of projects channelized to approval process for Q4 launch

✓ Pune Pipeline addition gaining momentum

✓ 6+ msf commercial closed, DD at an advanced stage

✓ 20+ msf under various stages of evaluation to enhance our

objective of doubling our upcoming project pipeline objective during the year

Targeting to nearly double upcoming project pipeline in 18-24 months

Project Launches Highlights: H1|FY26

Undri (Pune) May 2025

Location: Launch: Launch type: New Launch Project Area: 0.89 msf Launch Area: 0.44 msf Area Sold:

48%

E’City (Bangalore) July 2025

Location: Launch: Launch type: New Launch Project Area: 0.50 msf Launch Area: 0.50 msf Area Sold :

80%

Uttarpara (Kolkata) Location: Launch: September 2025 Launch type: Phase II Launch Project Area: 0.86 msf Launch Area: 0.28 msf Area Sold :

43%

Strong launch traction and encouraging sales trends reaffirm the sector’s healthy growth outlook

Project Launch Outlook: H2|FY26

Yelahanka (Bangalore)

Product: Project Area: Ownership: GDV: Status: Approval WIP

Villas 0.2 msf Own ₹200 Crs

Koyambedu (Chennai)

Perungalathur (ChennaI)

Bannerghatta Road (Bangalore)

Apartment Product: 0.3 msf Project Area: JDA Ownership: ₹350 Crs GDV: Status: Approvals awaited

Apartment Product: 0.9 msf Project Area: Own Ownership: ₹750 Crs GDV: Status: Approvals awaited

Product: Project Area: Ownership: GDV: Status: Approval WIP

Villaments 0.3 msf JDA ₹350 Crs

Uttarpara (Kolkata)

Product: Project Area: Ownership: GDV: Status:

Villas 0.3 msf Own ₹230 Crs Pre Launch

Commercial Product: 0.2 msf Project Area: Own Ownership: GDV: ₹120 Crs Status: Approvals received

Product: Project Area: Ownership: GDV: Status:

Plots 0.4 msf Own ₹150 Crs RERA stage

High confident launches with ~2.7 msf development potential and GDV ~2,200 Crs

Handover & Income Recognition Outlook: H2|FY26

H2 FY26 Robust Handover & Revenue recognition outlook

Project Name

Region

Product Ownership

Project Area (msf)

Sold Area (msf) *

Revenues (Rs. Crs)

Total Units

Pending Handover

Current Status

Q2 Launches Outlook Mystique

Bangalore

Apartments

JDA

Pristine Estates

Bangalore

Plots

Own

Solitaire

Bangalore

Apartments

JDA

Hebbal One

Bangalore

Commercial

JDA

Southern Crest Tower D Bangalore

Apartments

JDA

Sunshine One

Kolkata

Apartments Own

Grand One Cluster F & G Kolkata

Apartments Own

WYTfield Phase II

Bangalore

Apartments

0.20

0.28

0.32

0.14

0.08

0.78

0.51

2.82

0.14

0.28

0.23

0.11

0.04

0.72

0.47

0.51

2.50

125

123

261

172

271

119

107

189

107

189

OC Received: eKhata process commenced

OC and eKhata awaited

1,192

1,192 Q3 completion

588

592

588

592

Q4 completion

1,128

2,817

2,780

________________ (*2.5 msf represents 94% of SPL Area: Balance area belongs to LO’s)

On track for handing over 3300-3500 units in FY26 Striving for “Ahead of RERA” trend to continue even in FY26

Project Completion Outlook: H2|FY26

Unrecognised Revenue & Handover Potential in Recently completed Projects

Product: Apartments Ownership: JDA SPL Area: 0.15 msf Sold Area: 0.14 msf Revenues: Rs. 50 Crs. Handovers: 82

Plots Product: Ownership: Own SPL Area: 0.28 msf Sold Area: 0.28 msf Revenues: Rs. 125 Crs. Handovers: 107

Product: Commercial Ownership: JDA SPL Area: 0.14 msf Sold Area: 0.11 msf Revenues: Rs. 92 Crs. Handovers: NA

Product: Apartments Ownership: JDA SPL Area: 0.04msf Sold Area: 0.04 msf Revenues: Rs. 34 Crs. Handovers: 30

Product: Apartments Ownership: JDA SPL Area: 0.23 msf Sold Area: 0.23 msf Revenues: Rs. 123 Crs. Handovers: 189

Apartments

Product: Ownership: Own SPL Area: 0.78 msf Sold Area: 0.72 msf Revenues: Rs. 261 Crs. Handovers: 1192

Apartments

Product: Ownership: Own SPL Area: 0.51 msf Sold Area: 0.47 msf Revenues: Rs. 172 Crs. Handovers: 588

Apartments

Product: Ownership: JV SPL Area: 0.51 msf Sold Area: 0.51 msf Revenues: Rs. 272 Crs. Handovers: 592

420+Crs.

Revenue recognition pending eKhata in recently Completed Projects

700+Crs.

Revenue potential including projects scheduled for handovers in H2

Handovers / Revenue momentum set to strengthen in the coming quarters, with scheduled OC/CC in projects and resolution of eKhata issues

Honors & Accolades: H1|FY26

Developer of the Year - Shriram Properties GRI Awards | Real Estate, India, 2025

Iconic Residential Project of the Year - Codename Superstar by Shriram Properties Times Power Brands Pune 2025

Residential Developer of the Year - Shriram Properties ACE Alpha Awards

Most Preferred Workplace for Women 2025-26 Certified - Shriram Properties

Best Learning Technology Implementation - Shriram Properties

Financial Highlights : Q2 |H1 FY26

Artist’s impression of Shriram Esquire, Bangalore

Financial Highlights: Challenging Quarter, But Macro Headwinds Resolving…

o GBA transition issues led to deferred revenue recognition; Transient impact during the quarter

o Strong YoY growth trends, but absolute revenues and earnings muted due to deferred OC/CC and eKhata

across recently completed projects

o Situation resolving already – OC received in all but 1 project since Oct’25; eKhata process begun

o Project level profitability remains healthy, as reflected in Gross Margins during Q2 & H1

o Lower absolute profits also impacted by:

(i)

higher brand/project launch expenses on Pune entry (approx. Rs. 5 Crs in Q2)

(ii) One-time settlement costs on Kolkata land with Ashiana (approx. Rs. 6 Crs)

o Robust revenue recognition outlook for H2 | FY26, with on-track completion of ongoing projects targeted

for completion and resolving GBA situation, thus enabling revenue recognition from those deferred in H1.

Financial Highlights: Profit & Loss – Q2 |H1 FY26

Particulars (Rs Crs)

Q2 FY26

Q2FY25

YoY

H1 FY26

H1 FY25

YoY

FY25

Income from Operations

Other Operating Revenues*

Total Operating revenues

Other Income

Total Revenues

Cost of Revenue

Employee Benefit Expense

Other Expenses

Other Expenses (non recurring)#

Total expenses

EBITDA before share of JV Profit/(loss)

Add: Share of profit/(loss) of JVs

EBITDA with Share of JV Profit/(Loss)

Finance costs - Interest expense & other finance cost - Unwinding Impact (non-cash / GoWB Royalty)

Depreciation

Profit Before Tax

Tax expense

46%

49%

48%

52%

48%

40%

73%

-19%

205.3

15.2

220.5

8.5

229.0

143.9

28.5

32.3

5.7

210.4

18.6

4.7

23.3

22.0 20.3 1.7

2.4

(1.1)

(9.7)

140.6

7.6

148.2

6.9

155.1

94.8

22.9

24.1

141.8

13.3

0.2

13.5

27.0 22.9 4.1

2.7

(16.2)

(15.4)

447.6

27.6

475.2

15.3

490.5

304.6

53.5

66.5

5.7

430.3

60.2

9.6

69.8

44.3 41.1 3.2

4.7

20.8

(8.4)

Net Profit _________________ * Other Operating Revenues include impact of ASK exit from Shriram Pristine Estates, fair value gains in Project JVs and monetization of development rights etc. # Impact of one time settlement on account of closure of JDA in Kolkata

(0.8)

29.2

8.6

294.6

62.8

357.4

8.6

366.0

201.0

45.8

52.4

299.2

66.8

3.4

70.2

53.7 45.7 8.0

5.4

11.1

(5.6)

16.7

52%

33%

34%

52%

44%

-1%

-18%

87%

75%

823.4

125.8

949.2

24.2

973.4

574.9

92.5

126.7

794.1

179.3

23.5

202.8

104.6 88.2 16.4

10.3

87.9

10.6

77.3

✓ H1 Operating Revenue at

Rs. 475.2 Crs. up +33% YoY

✓ H1 Total Revenues at 490.5

Crs. up +34% YoY

✓ H1 Gross Profit at Rs. 143

Crs. up +53% YoY

✓ 32% Gross Profit Margin

✓ H1 PAT at Rs. 29.2 Crs up

+75% YoY

With new projects reaching OC stage, revenue and profitability momentum are set to stay robust

Financial Highlights: Profit & Loss – Q2|H1 FY26

Q2 FY26

o Challenging quarter, due to GBA & eKhata issues impacting revenue recognition.

─ Handover/revenue recognition restricted to 5 recently completed projects.

─ Nearly 50%+ of Q2 handovers were in JVs & DMs, thus limited impact on SPL Consolidated Revenues.

─ Green shoots visible, stabilizing of GBA & eKhata issues expected to return to normalcy in H2.

o Other Operating Revenues comprises of gains from fair value measurement of Project JV investments etc.

o Other Expenses higher due to brand campaigning in Pune, new launch expenses and non recurring land settlement costs.

o Projects profitability remained intact with Gross margin at 30%, reaffirms business fundamentals and profitability

o Positive net earnings for the quarter, though lower YoY reflecting lower revenue base.

o Set to bounce back strong in H2, supported by robust handovers. Remain confident of achieving targeted handover of 3,300+ units

in FY26

H1 FY26

o External delays led deferred handover / Income recognition led to subdued H1 performance.

o Current revenues driven by handover in recently completed projects (Park 63, Shankari, Liberty Square & Grand One).

o Other Expenses slightly higher due to Pune brand campaigning, non recurring land settlement costs and new launch expenses.

Consolidated Cash Flows: Q2 |H1 FY26 (Excl. DM & JV cashflows)

Amount in Rs. Crs

Operating Inflows

Construction

Marketing & Admin Overheads

Other Operating outflows

Operating Outflows

Cash Flow from Operations

Loan Drawls

Loan Repayment

Net flow from Borrowings

Interest expense, net

Other financing cashflows

Cash Flow from Financing

FCF Before New Project Inv.

Less: New Project Investment

Net Free Cash flow

Opening Cash & Cash Equiv.

Closing Cash & Cash Equiv.

Q2 FY26

Q1 FY26

H1FY26

H1FY25

FY25

Collection Trends (Rs. In Crs) SPL Own & JDA / JVs / DM

264

(136)

(62)

(14)

(212)

314

(191)

123

(16)

115

167

(68)

187

286

221

(111)

(53)

(33)

(197)

(97)

(77)

(15)

(82)

(58)

(75)

(133)

320

187

485

(247)

(115)

(47)

(409)

334

(288)

(31)

109

(143)

(34)

320

286

380

(164)

(90)

(28)

(282)

179

(243)

(64)

(31)

(86)

(75)

(63)

190

127

983

(422)

(197)

(59)

(678)

305

450

(432)

(59)

(32)

273

(143)

130

190

320

725

165

481

683

137

185

362

388

45 83

260

338

35 82

221

1,484

236

342

907

Q2FY26

Q1FY26

H1FY26

H1FY25

FY25

Own/JDA

Total

✓ Operating

inflows

improved YoY; Cashflow

from

operations nearly doubled sequentially

✓ Handover led collections to improve operating inflows

in upcoming quarters

✓ Operating inflows deployed on Construction to fuel

project completion momentum

✓ New project investment of Rs. 143 Crs during H1

Deployment of cashflows into project is set to drive strong milestone collections in the coming quarters

Debt Profile: Healthy Gearing with Competitive Cost

Debt Profile & Cost of Debt Trends - Consolidated

✓ Comfortable debt position with Net Debt of ~407 Crs.

Particulars (Rs. in Crs.)

Sep’25

Mar’25

Mar’24

Mar’23

✓ Debt-Equity remains healthy at 0.29x.

Gross External Debt1

C & CE

Net Debt

Total Equity

Net debt/Equity

693

286

407

1,388

0.29

646

320

326

1,356

0.24

631

190

441

1,277

0.35

553

120

433

1,200

0.36

✓ Cost of debt stood 11.1% and remains competitive.

✓ Debt mainly on construction funding.

✓ Declining interest rate environment to help reduce cost of debt further in

the coming quarters.

✓ Backed by A- Positive outlook credit rating from CRISIL.

Gross and Net Debt (Rs. in Crs)

Net Debt - Equity

Cost of Debt (%)

631

646

693

0.36

0.35

553

433

441

407

326

0.29

0.24

11.9%

11.6%

11.3%

11.1%

12.5%

12.0%

11.5%

11.0%

10.5%

Mar'23

Mar'24

Mar'25

Sep'25

Mar'23

Mar'24

Mar'25

Sep'25

Mar'23

Mar'24

Mar'25

Sep'25

Gross Debt

Net Debt

Cost of Debt

_____________________________________________________________________________________ 1 As per consolidated financial statements excluding inter-company debt from JVs

Robust Balance Sheet, Strong Funding Capacity, and High Growth Potential

Artist’s impression of Shriram Spectrum, Pune

Outlook |FY26

Business Outlook: H2 FY26

Launches & Sales Momentum: • Renewed confidences with strong lineup of H2 Launches • • Robust revenue recognition & earnings outlook: •

Encouraging response for H1 launches; strong momentum continues Strong catch up, likely during Q3/H2 FY26 based on robust launch lineup

Income recognition set to gain momentum with normalised OC/CC process and increased handover momentum likely in H2 Increased revenue base coupled with stable margins to enable revenue/earnings catch-up in H2.

Substantial progress in pipeline addition so far and momentum to continue during H2FY26 SPL’s agile approach resulting faster turnaround through channelizing the projects to approval mechanism

• Accelerated Business Development efforts : • • FY26 Guidance : • •

SPL geared up and poised for achievement of FY26 guidance Thereby setting up a strong foundation for FY28 mission

FY26 Outlook Guidance

Sales Volume

Sales Value

Collections

Handovers

28% YOY

44% YOY

35% YOY

14% YOY

5.2-5.5 msf

3000-3300 Rs. Crores

1800-2000 Rs. Crores

3300-3600 Units

Completion

Project Delivery

Pipeline addition

GDV Addition

8-10 Projects

3.5-4.0 msf

7.0-8.0 msf

4500-5000 Rs. Crores

Strategic Objectives:

• Growth Momentum: Target 20%+ CAGR in sales over next 3 years

• Sustaining Profitability: Strong earnings growth momentum with improving profitability and returns

• Strong Operating Platform: Reinforced S&M team; Strong launch pipeline demonstrated execution & handover capabilities

• Strong momentum in Pune : Capitalize on early success and create healthy pipeline and sales momentum in Pune

Mission 1-2-3-4 (FY28): On a Right Path; Confident of Delivery

1 United Team

2x Sales volume 3x Revenue 4x Profit

Rs. ~5,000 Crs

Rs. ~2,500-3,000 Crs

Rs. 250+ Crs

Ongoing Projects driving revenue recognition for the mission

18.5 msf Launched & Ongoing

14.9 msf Sold

3.6 msf Unsold

8.7 msf Revenue Already Recognised

6.2 msf Revenue Pending Recognition

3.6 msf To be sold & Revenue be recognised

Revenue recognition Potential* 9.8 msf (5,000+ Crs) Own/JDA: 6.6 msf (Rs.3,600 crs+) JV: 2.5 msf (Rs.1,400 crs+) _____________________________________________________________________________________ * Note: As of September 30, 2025

Supply for Mission accelerated by BD Efforts

~20 msf

~30-35 msf

~22.2 msf (3.6+18.6)

~15-20 msf

~30+ projects under evaluation

3 years cumulative sales volume required to achieve the mission

Pipeline required to achieve the target

Pipeline available (Ongoing Unsold+ Pipeline Live)

Pipeline addition to be done in next 12 to 18 months to achieve the mission

• ~2.3 msf Addition done in FY26

• 6+ msf at advanced stage of

diligence

• Additional 20+ msf under active

evaluation

Thank You

Artist’s impression of Shriram Serenity, Bangalore

Annexures

Annexure-1: Projects Snapshot by Development Models

Own Developments

Joint Developments

Joint Ventures

Development Management

Execution Track Record

Completed ✓ 8 projects ✓ 6.6 msf.

Ongoing Projects ✓ 8 Projects ✓ 7.8 msf.

Upcoming Projects ✓ 7 Projects ✓ 9.4 msf.

Completed ✓ 24 projects ✓ 12.2 msf.

Ongoing Projects ✓ 7 Projects ✓ 5.9 msf.

Upcoming Projects ✓ 10 Projects ✓ 5.5 msf.

Completed ✓ 4 projects ✓ 4.3 msf.

Ongoing Projects ✓ 3 Projects ✓ 2.9 msf.

Upcoming Projects ✓ 1 Project ✓ 1.0 msf.

Completed ✓ 12 projects ✓ 6.1 msf.

Ongoing Projects ✓ 4 Projects ✓ 1.8 msf.

Upcoming Projects ✓ 3 Project ✓ 2.7 msf.

Annexure-2: Consolidated Cash Flows – With and Without JV Cashflows

Particulars

Amount in Rs. Crs

Operating Inflow

Construction

Mktg. & Admin Overheads

Other Operating outflows

Operating Outflow

Cash flow from Operations Loan Drawls

Loan Repayment

Net flow from Borrowings Interest expense, net Other financing cashflows

Cash flow from Financing

FCF before New Project Inv.

Less: New Project Inv.

Net Free Cash flow

Opening Cash & Cash Equiv. Closing Cash & Cash Equiv.

SPL Consolidated (CFS)

SPL Enterprise (100%)1 (Excl DM)

Q2 FY26

H1 FY26

FY25

Q2 FY26

H1 FY26

FY25

264

(136)

(62)

(14)

(212)

52 314

(191)

123 (16) 8

115

167

(68)

187 286

485

(247)

(115)

(47)

(409)

76 334

(288)

46 (31) 18

109

(143)

(34)

320 286

983

(422)

(197)

(59)

(678)

305 450

(432)

18 (59) 9

(32)

273

(143)

130

190 320

334

(189)

(70)

(18)

(277)

57 333

(214)

119 (22) 8

105

162

(70)

249 341

634

(332)

(128)

(53)

(513)

121 359

(327)

32 (44) (8)

(20)

101

(149)

(48)

389 341

_________________ 1 Enterprise Cashflows include SPL CFS Cashflows plus 100% share of JVs. Excludes DM project cashflows

1,335

(581)

(224)

(67)

(872)

463 643

(702)

(59) (114) 12

(161)

302

(167)

135

254 389

Annexure-3: RE Sector & Mid Market demand dynamics

Categories driving residential Sales during Q2 FY26 (QoQ Trends)

Rs. 50 lacs to Rs. 1.0 Crore ticket size

28%

Share in Q2 FY26

31% Share in Q1 FY26

Rs. 1.0 Cr to 3.0 Crore ticket size

28% Share in Q2 FY26

27% Share in Q1 FY26

Nearly 56% of Q2FY26 absorption pan-India in the mid- market / mid-premium categories

PAN India trends QoQ

PAN India trends Q2 FY26 vs Q1 FY26 (No. Units in lacs)

0.97

0.99

0.97

0.96

Core Market Launch trends (No. Units in lacs)

0.19

0.14

0.15

Core Market Absorption trends (No. Units in lacs)

0.19

0.14

0.15

0.09

0.06

0.05

0.03

0.09

0.06

0.05

0.03

Launches

Sales

Q2FY26

Q1FY26

Pune

Bangalore

Chennai

Kolkata

Pune

Bangalore

Chennai

Kolkata

Q2FY26

Q1FY26

Q2FY26

Q1FY26

Segment wise Launch Trends during Q3 CY25/Q2 FY26

❑Mid and Mid Premium Segments poised for steady growth in upcoming quarters. ❑Balanced supplies and improving customer sentiment, sector poised for growth. ❑Pricing moderation & interest cut improving affordability & faster decision making.

________________ * Source: CBRE, Anarock, Knight Frank research reports.

For further information, please contact:

Company :

Shriram Properties Limited CIN – L72200TN2000PLC044560

Mr.. Shrikanth D S, AGM – Finance Email Id – ir.spl@shriramproperties.com

www.shriramproperties.com

Investor Relations Advisors :

http://www.sgapl.net/images/sgapl_logo.jpg

Strategic Growth Advisors Pvt. Ltd. CIN - U74140MH2010PTC204285

Mr.. Rahul Agarwal / Ms. Brinkle Shah Jariwala rahul.agarwal@sgapl.net / brinkle.shah@sgapl.net +91 98214 38864 / +91 96193 85544 www.sgapl.net

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