Mahindra Lifespace Developers Ltd. — Capital/Financing Update 2025

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February 13, 2025

Re:

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Dear Sir / Madam,

In furtherance to our intimation dated 10[th] February 2025, we wish to inform you that the Board of Directors of the Company (“Board”), at its meeting held today, 13[th] February 2025, has inter alia considered and approved fund raising by way of offer and issuance of fully paid-up equity shares of the Company of face value of ₹10/- each (the “Equity Shares”) for an amount not exceeding Rs. 1,500 Crores (Rupees One Thousand Five Hundred Crores) by way of a rights issue (“Rights Issue”) to the eligible equity shareholders of the Company as on the record date (to be determined and notified subsequently), in accordance with applicable laws including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, along with the relevant circulars issued by the SEBI subject to such regulatory and statutory approvals, as may be required under the applicable laws.

Further, the Board has authorised the Rights Issue Committee to proceed with the Rights Issue forthwith and inter alia, to decide the terms and conditions of the Rights Issue, including but not limited to the appointment of intermediaries, determination of the issue price, Rights entitlement ratio, record date, timing of the rights issue and terms of payment and various other related matters.

Press release being issued in this regard is enclosed herewith.

The meeting of the Board commenced at 3:00 pm and concluded at 3.30 pm.

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This disclosure is made in terms of Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI LODR”) read with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11[th] November, 2024, and other applicable provisions of SEBI LODR.

This intimation is also being uploaded on the Company’s website at https://www.mahindralifespaces.com/investor-center/?category=material-disclosureintimation.

You are requested to kindly take the above information on record.

Thanking you,

Yours faithfully,

For Mahindra Lifespace Developers Limited

BIJAL Digitally signed by BIJAL BHARAT BHARAT PARMAR Date: 2025.02.13 PARMAR 15:40:35 +05'30' Bijal Parmar Assistant Company Secretary & Compliance Officer Membership No.: ACS 32339

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Press Release For immediate dissemination

Mahindra Lifespaces Developers Limited to raise up to Rs 1,500 Crore of equity through Rights Issue

Mumbai, Feb 13, 2025 – The Board of Mahindra Lifespaces Developers Limited (MLDL), the real estate and infrastructure development business of the Mahindra Group, at its meeting held today, have approved fund raise of up to Rs 1,500 Crore through Rights Issue to the eligible shareholders of the company.

Key highlights

• Residential Real estate market continues to be buoyant driven by strong growth in absorption and new launches.

• MLDL has sharpened its focus on premium / mid-premium segment of the market, which continues to grow at a steady rate, across its key markets, MMR, Pune and Bengaluru.

• MLDL’s IC & IC business, with ready-to-move in and plug-and-play infrastructure, is well positioned to benefit from macro themes driving manufacturing in India.

• MLDL has significantly scaled up its business development efforts in its residential business. Year to date GDV additions is over Rs 16000 Crore (vs. Rs 4,400 Crore during FY24).

• GDV scale up has been achieved through internal accruals and debt, while maintaining a healthy Net Debt to Equity ratio of 0.5x (as of Dec’24).

• The proceeds will be utilized to pare down MLDL’s existing debt and support its future growth plans.

Notes:

1. GDV implies Gross Development Value.

2. Net Debt to Equity Ratio includes debt and cash & cash equivalents of all entities on a fully consolidated basis.

3. The operational highlights include the performance of the Company and its subsidiaries / joint ventures / associates.

About Mahindra Lifespace Developers Ltd.

Established in 1994, Mahindra Lifespace Developers Ltd. (‘Mahindra Lifespaces’) brings the Mahindra Group’s philosophy of ‘Rise’ to India’s real estate and infrastructure industry through thriving residential communities and enabling business ecosystems. The Company’s development footprint spans 39.44 million sq. ft. (saleable area) of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5000 acres of ongoing and forthcoming projects under development / management at its integrated developments / industrial clusters across four locations. Mahindra Lifespaces’ development portfolio comprises premium residential projects; value homes under the ‘Mahindra Happinest®’ brand; and integrated cities and industrial clusters under the ‘Mahindra World City’ and ‘Origins by

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Mahindra’ brands, respectively. The Company leverages innovation, thoughtful design, and a deep commitment to sustainability to craft quality life and business growth.

As a pioneer in Net Zero homes in India, Mahindra Lifespaces is committed to building only Net Zero homes from 2030 onwards. The company has already launched India’s first three Net Zero residential developments: One Net Zero Energy and two Net Zero Energy+ Waste, showcasing its dedication to environmental responsibility and innovation. With a 100% Green portfolio since 2014, the Company is working towards carbon neutrality by 2040 and actively supports research on green buildings tailored to climatic conditions in India. Mahindra Lifespaces® is the recipient of over 90 awards for its projects and ESG initiatives. Learn more about Mahindra Lifespaces® at www.mahindralifespaces.com

About Mahindra

Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate. The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise/ For updates subscribe to https://www.mahindra.com/news-room

For further enquiries, please contact:

Mr. Sriram Kumar

Vice President – FP&A, Costing & Investor Relations Email:[email protected]