Your Directors have the pleasure in presenting the 41^st (Forty-first) Annual Report on the business and operations of your Company together with the Audited Standalone and Consolidated Financial Statements for the financial year ended March 31, 2026.

FINANCIAL SUMMARY/ PERFORMANCE OF THE COMPANY:

(' in lakhs)

1) The above figures are extracted from the Standalone and Consolidated Financial Statements prepared as per Indian Accounting Standards (Ind AS).

Notes: -

OPERATIONS REVIEW AND THE STATE OF COMPANY’S AFFAIRS A. Operational and Financial Overview

The Company, its subsidiaries and associate and jointly controlled entities are primarily engaged in the business of Construction and Development of Residential, Commercial, Hospitality, Affordable Housing, IT Parks, Data Centres and Cloud Services.

During the year under review, the company has posted Standalone Net Profit after Tax of ' 29,838.95 lakhs as compared to ' 21,916.20 lakhs during the previous

year showing a Profit after tax growth of 36.15%. The Consolidated Net Profit after Tax is ' 55,701.85 lakhs as compared to ' 42,581.86 lakhs during the previous year showing a growth of 30.81%.

The Consolidated revenue from Data Centre, infrastructure, rental and other services of the Company, during the period under review were ' 19,190.90 lakhs as compared to ' 8,458.34 lakhs during the previous year, showing a growth of 126.89%.

The Consolidated revenue from sale of projects of the Company during the period under review were ' 2,31,969.10 lakhs as compared to ' 1,97,539.08 lakhs showing growth of 17.43%

B. Future prospects and outlook of the Company

The Indian real estate market is set for sustained growth in 2025-26, propelled by robust economic fundamentals, progressive government policies, and rapid technological advancements. While the sector is on an upward trajectory, it continues to face challenges such as rising construction material and labour costs. The successive reductions in interest (repo) rate makes the EMIs more affordable and is likely to spur demand.

Market trends and performance Residential Sector Realignment: The Delhi-NCR residential market has transitioned into a highly mature, user-led phase. While overall volume growth has moderated across mass housing, capital continues to flow heavily into high-conviction micro-markets, showing an annual value appreciation of up to 20%.

Premium Segment Dominance: Reflecting a stark shift toward premium homes priced above '1 crore now command a staggering 63% share of all market transactions, up

from 53% previously.

Gurugram’s Luxury segment: Gurugram single-handedly anchors the region's high-end growth in residential market which accounts for a massive 91% of NCR’s luxury home sales. The established Golf Course Extension Road

corridor remains a premier asset with steep capital and rental appreciation.

Data Centre & Digital Infrastructure Boom: Driven by corporate cloud migration, OTT consumption, and the mandate for data localisation under the DPDP Act, India's operational data centre capacity has expanded beyond 1.5

1.8 GW. The Delhi-NCR cluster has emerged as a primary digital hub, with massive hyperscale and Tier 4 developments drawing billions in capital to support high-growth AI workloads and colocation operators.

OPERATIONS

Anant Raj Group has emerged as a developer for better quality and services over the last 5 decades. The Group established in 1969, operated as one of the largest contractors in Delhi, contributing to construction of about 30,000 houses for Delhi Development Authority (DDA) besides other projects such as the prestigious ASIAD Village Complex built by DDA for the 1982 Asian Games.

The Group was founded by Sh. Ashok Sarin, who remained at helm for 5 decades and made Anant Raj Group the leading developers in Delhi-NCR. The Company's legacy of leadership continues across generations. Currently, the fourth generation of management, comprising Sh. Amit Sarin, Sh. Aman Sarin,

and Sh. Ashim Sarin, is steering the organization while upholding the vision and values established by its founder, Sh. Ashok Sarin. Further strengthening the leadership team, the fifth generation has joined the management with the induction of Sh. Anish Sarin, who was appointed as an Additional Director and designated as Whole-Time Director with effect from May 11, 2026. He is assisting in the Company's Data Centre business segment and contributing to its future growth and strategic development. The management has established the company as a leader in real estate by fostering self-sufficiency across all business verticals including venturing into sunrising sector

i.e. Data Centre & Cloud services and this process-driven approach has paved the way for sustained long-term growth.

The Company boasts of being one of the largest Real Estate Developers in the Delhi-NCR Region comprising Residential and Annuity business. The Company has established itself as an emerging player in Data Centre & Cloud services sector, with a planned IT load capacity of 357 MW. Its projects comprise:

"Anant Raj Estate", the Company's flagship Residential Township in Sector 63A, Gurugram, has launched and sold a variety of projects like Villas, Independent Floors, plotted land, Group Housing and shopping malls. The Project also boasts of several amenities like Swimming Pools, Gymnasium, School, Children's Play area, Nursing Home, Temple, Fine Dining Restaurants, Business Centre, and Sports arenas. Besides, "The Estate Club", is being developed within the Township with all latest amenities and infrastructure spanning over 1.5 lacs sq. ft. Anant Raj Estate owns 220 acres of freehold land wherein the residential and commercial projects are being launched and delivered maintaining the better quality and services.

Anant Raj Cloud Private Limited a 100% subsidiary of Anant Raj Limited is developing 357 MW of IT load capacity at Rai, Panchkula and IMT Manesar all of which are in Haryana and another facility in Andhra Pradesh. As against this initial IT load capacity of 21 MW at Manesar and 7 MW at Panchkula has been operationalised besides the cloud services. The Company has set its aim to deliver both

cloud services and colocation solutions to clients through our dedicated facilities. Our cloud offering is in association with Orange Business, a French major in telecom infrastructure.

The investment in Data Centre is lucrative as the margins are high making its return profile short. With increasing demand from hyperscalers, BFSI clients, and global tech players looking for secure and compliant hosting options in India, the market is open and our Company has an edge due to the fact that its run time is shorter compared to peer group.

A detailed operational overview is provided in the Management Discussion and Analysis section.

IND AS STANDARDS

The Audited Financial Statements for the financial year ended March 31, 2026, have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind-AS) prescribed under Section 133 of the Companies Act, 2013 (hereinafter referred to as "Act") and other recognized accounting practices and policies to the extent applicable.

The estimates and judgements relating to the Financial Statements are made on a prudent basis, so as to reflect in a true and fair manner, the form and substance of transactions and reasonably present the Company's state of affairs, profits and cash flows for the financial year ended March 31, 2026. The Notes to the Financial Statements adequately cover the Standalone and Consolidated Audited Statements and form an integral part of this Report.

TRANSFER TO RESERVES

The Company has transferred a sum of ' 9,773.52 lakhs to the General Reserve for the financial year ended March 31, 2026.

TRANSFERS TO THE INVESTOR EDUCATION AND PROTECTION FUND

Pursuant to the provisions of section 124 of the Act read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 ('IEPF Rules'), (including any statutory modification(s)/re-enactment(s)/ amendments(s) thereof for the time being in force), the dividend which remains unclaimed/unpaid for a period of seven consecutive years from the date of transfer to the unpaid dividend account of the Company, is required to be transferred to the Investor Education and Protection Fund ('IEPF') established by the Central Government. As per the IEPF Rules, the corresponding shares in respect of which dividend has not been paid or claimed by the members for seven (7) consecutive years or more shall also be transferred to the Demat Account created by the IEPF authority within a period of thirty days of such shares becoming due to be so transferred. Upon transfer of such shares, all benefits

(except right entitlements), if any, accruing on such shares shall also be credited to such Demat Account and the voting rights on such shares shall remain frozen till the rightful owner claims the shares. Shares which are transferred to the Demat Account of IEPF authority can be claimed back by the shareholder from IEPF authority by following the procedure prescribed under the aforesaid rules. Therefore, it is in the interest of shareholders to regularly claim the dividends declared by the Company.

The said requirement does not apply to shares in respect of which there is a specific order of Court, Tribunal or Statutory Authority, restraining any transfer of the shares.

During the financial year under review, the Company had transferred a sum of ' 3,25,923 (Rupees Three Lakh Twenty-Five Thousand Nine Hundred Twenty-Three Only) relating to 3,480 shareholders lying in the Unpaid Dividend Account for the financial year 2017-18 to the Investor Education and Protection Fund (IEPF) established by the Central Government.

Further, in compliance with the provisions laid down in IEPF Rules, the Company had sent individual notices and also advertised in the newspapers seeking action from the members who have not claimed their dividends for seven (7) consecutive years or more and had transferred all corresponding shares i.e. 39,309 equity shares relating to 116 shareholders, on which dividend remained unclaimed for a period of seven (7) consecutive years from 2017-18, to the Demat Account of the IEPF Authority. It may please be noted that no claim shall lie against the Company in respect of share(s) transferred to the Demat Account of the IEPF Authority pursuant to the said Rules.

Members/ claimants whose shares, unclaimed dividends, have been transferred to the IEPF Authority, may claim the shares or unclaimed dividends by making an application to IEPF Authority in form IEPF-5 (available on www.iepf.gov.in).

The statement containing details of Name, Folio number or Demat ID-Client ID and number of shares proposed to be transferred to IEPF Demat Account is made available on our website www.anantrajlimited.com.

The shareholders are encouraged to verify their records and claim their dividends of the preceding seven years, if not claimed.

Mr. Pankaj Kumar Gupta, Chief Financial Officer of the Company, act as a Nodal Officer of the Company and Mr. Anjani Kumar Prashar, Senior Manager-Secretarial, act as a Deputy Nodal Officer of the Company, for the purposes of verification of claims and coordination with IEPF Authority pursuant to the IEPF Rules.

DIVIDEND

In terms of the Dividend Distribution Policy of the Company, your Board of Directors in their meeting held on May 11, 2026,

has recommended a final dividend @ 50% i.e. Re. 1 per equity share of ' 2 each for the financial year 2025-26, for the approval of shareholders at the forthcoming Annual General Meeting. The cash outflow on account of dividend will be ' 3,598.77 lakhs (previous year ' 2,505.80 lakhs). Dividend, if approved by the Shareholders at the forthcoming Annual General Meeting, will be paid within 30 days from the date of declaration.

Pursuant to the Finance Act, 2020, dividend income is taxable in the hands of the members and the Company is required to deduct tax at source from dividend paid to the members at prescribed rates as per the Income Tax Act, 2025.

The Dividend Distribution Policy is available on the website of the Company and can be accessed at: https://blob.anantrailimited.com/ anantrai/1783592834674-Dividend%20Distribution%20Policy.pdf

SHARE CAPITAL

During the financial year under review, the Company issued and allotted 1,66,16,314 equity shares of face value of ' 2 each at an issue price of ' 662 per equity share to eligible qualified institutional buyers aggregating to ' 1,099.99 crores, pursuant to qualified institutions placement (QIP).

The equity shares issued ranked pari- passu with the existing fully paid-up equity shares in all respects as to dividend, etc.

Consequent to the above issuance, the paid-up share capital of the Company increased from ' 68,65,21,232 (Rupees Sixty-Eight Crores Sixty-Five Lakhs Twenty-One Thousand Two Hundred Thirty-Two Only) divided into 34,32,60,616 (Thirty-Four Crores Thirty-Two Lakhs Sixty Thousand Six Hundred Sixteen) equity shares of ' 2 (Rupees Two) each to ' 71,97,53,860 (Rupees Seventy-One Crores Ninety-Seven Lakhs Fifty-Three Thousand Eight Hundred Sixty Only) divided into 35,98,76,930 (Thirty-Five Crores Ninety-Eight Lakhs Seventy-Six Thousand Nine Hundred Thirty) equity shares of ' 2 (Rupees Two) each.

Further, pursuant to the listing application by the Company in respect of the aforesaid shares allotted, the said equity shares were listed and admitted to dealings on the National Stock Exchange of India Limited and BSE Limited effective from October 15, 2025. The Company's shares are compulsorily tradable in electronic form.

The Company's equity shares are listed on the National Stock Exchange of India Limited and BSE Limited, with listing fees paid to both exchanges for FY 2025-26 and FY 2026-27.

During the financial year under review, there was no change in the authorised share capital of the Company which as on March 31, 2026, was ' 82,90,00,000 (Rupees Eighty-Two Crores Ninety

BOARD OF DIRECTORS & KEY MANAGERIAL PERSONNEL

The Board of Directors comprises distinguished professionals of proven integrity and competence, who provide strategic direction, guidance and leadership to the Company.

The Company has an optimum combination of executive and non-executive directors, including independent directors and a woman director. The Company's Board of Directors as on March 31, 2026, consisted of seven (7) Directors. Out of them, four (4) are Non-Executive Independent Directors and three (3) are Executive Directors.

Sh. Amit Sarin is the Managing Director, Sh. Aman Sarin is the Whole-time Director and Chief Executive Officer, and Sh. Ashim Sarin is the Whole-time Director and Chief Operating Officer of the Company. The other four (4) Directors i.e., Sh. Veerayya Chowdary Kosaraju, Dr. Rajendra Prasad Sharma, Sh. Rajesh Tuteja, and Mrs. Kulpreet Sond are the Non-Executive Independent Directors of the Company.

During the period under review, none of the Non-Executive Independent Directors of the Company had any pecuniary transactions with the Company, apart from sitting fees paid to Non-Executive Independent Directors for attending the meeting of the Board of Directors/Committees.

Further, at its meeting held on May 11, 2026, the Board of Directors, based on the recommendation of the Nomination and Remuneration Committee and subject to the approval of the shareholders of the Company at the ensuing Annual General Meeting, approved the payment of an annual commission of ' 21,00,000/- to each Non-Executive Independent Director of the Company.

Appointments/Re-appointments/Director Retiring by Rotation

In accordance with the provisions of section 152 of the Act, and Article 120 of Articles of Association, read with the Companies (Appointment and Qualifications of Directors) Rules, 2014, Sh. Aman Sarin (DIN: 00015887) is liable to retire by rotation at the ensuing Annual General Meeting and being eligible for re-appointment, has offered himself for re-appointment. The Board of Directors recommends his re-appointment. The information regarding his re-appointment, as required under Regulation 36 of the Listing Regulations and secretarial standard-2, has been provided in the Notice convening the ensuing Annual General Meeting.

During the year under review, based on the performance evaluation, where applicable, and pursuant to the recommendations of the Nomination and Remuneration Committee and the approval of the Audit Committee, the Board of Directors, at its meeting held on June 10, 2025, approved the appointment and re-appointments of directors, which were subsequently approved by the shareholders at their meeting held on July 23, 2025. The details of such appointment and re-appointments are as follows:

1. Re-appointment of Sh. Amit Sarin (DIN: 00015837) as Managing Director, for a term of 5 (five) years with effect from January 1, 2026.

2. Re-appointment of Sh. Aman Sarin (DIN: 00015887), as Whole-time Director and Chief Executive Officer, for a term of 5 (five) years with effect from January 1, 2026.

3. Re-appointment of Sh. Ashim Sarin (DIN: 00291515), as Whole-time Director and Chief Operating Officer, for a term of 5 (five) years with effect from January 1, 2026.

4. Re-appointment of Sh. Rajesh Tuteja (DIN: 08952755) as Non-Executive Independent Director, for a second term of 5 (five) years with effect from January 1, 2026.

5. Re-appointment of Mrs. Kulpreet Sond (DIN: 08952751) as Non-Executive Independent Director, for a second term of 5 (five) years with effect from January 25, 2026

6. Appointment of Dr. Rajendra Prasad Sharma

(DIN: 08036796) as Non-Executive Independent Director, with effect from July 1, 2025, for a first term of 5 (five) consecutive years.

Further, the Board of Directors, at its meeting held on May 11, 2026, based on the recommendation of the Nomination and Remuneration Committee and approval of the Audit Committee, appointed Sh. Anish Sarin (DIN: 08845358) as an Additional Director of the Company with effect from May 11, 2026. The Board also approved his appointment as a Whole-time Director of the Company for a term of five (5) years with effect from May 11, 2026, subject to the approval of the Members.

The resolution seeking approval of the Members for appointment of Sh. Anish Sarin as a Director and Whole-time Director of the Company forms part of the Notice convening the ensuing Annual General Meeting and is recommended by the Board for approval of the Members.

None of the Directors are disqualified/debarred from holding the positions under the applicable provisions of the Act and or under any order passed by the Securities and Exchange Board of India ("the SEBI").

Cessation

During the financial year under the review, Sh. Manoj Pahwa (Membership No. ACS 7812) ceased to be the Company Secretary and Compliance Officer (KMP) of the Company with effect from June 10, 2025, due to his superannuation. The Board placed on record its sincere appreciation for the dedicated services rendered by Sh. Manoj Pahwa during his tenure with the Company.

Apart from the above, during the financial year under review, there was no cessation of Directors in the Company.

KEY MANAGERIAL PERSONNEL

As per the requirement under the provisions of section 203 of the Act, the following are the Key Managerial Personnel ('KMP') of the Company as on March 31, 2026:

I. Sh. Amit Sarin (DIN: 00015837)- Managing Director;

II. Sh. Aman Sarin (DIN: 00015887)- Whole-time Director & Chief Executive Officer;

III. Sh. Ashim Sarin (DIN: 00291515)- Whole-time Director & Chief Operating Officer;

IV. Sh. Pankaj Kumar Gupta -Chief Financial Officer; and

V. *Mr. Neeraj Kumar-Company Secretary and Compliance Officer

* Appointed as Company Secretary and Compliance Officer w.e.f. June 10, 2025, pursuant to the cessation of Sh. Manoj Pahwa as Company Secretary and Compliance Officer due to superannuation w.e.f. June 10, 2025.

Further, as stated above, subsequent to the close of the financial year, Sh. Anish Sarin (DIN: 08845358) was appointed as an Additional Director of the Company with effect from May 11, 2026. The Board also approved his appointment as a Whole-time Director of the Company for a term of five (5) years with effect from May 11, 2026, subject to the approval of the Members at the ensuing Annual General Meeting.

During the financial year under review, there were no changes in the Key Managerial Personnel of the Company, other than those mentioned above.

CHANGE IN THE NATURE OF BUSINESS, IF ANY

During the period under review, there was no change in the nature of the business of the Company.

MATERIAL CHANGES AND COMMITMENT IF ANY, AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT

Save as otherwise disclosed in this Report, there have been no material changes or commitments affecting the financial position of the Company between the end of the financial year to which the financial statements relate and the date of this Report.

DEPOSITS

During the financial year under review, your Company has not accepted any deposits as prescribed under Chapter V of the Act read with the Companies (Acceptance of Deposits) Rules, 2014. There is no unclaimed or unpaid deposit lying with the Company. Accordingly, there were Nil cases of default in repayment of deposits or payment of interest thereon at the beginning of the year, during the year, and at the end of the year.

INSURANCE

The Company's properties including building, plant and machinery, stocks, stores, etc., have been adequately insured against major risks.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

The particulars of Loans, Guarantees or Investments covered under the provisions of section 186 of the Act read with Companies (Meetings of Board and its Powers) Rules, 2014 are given in the Financial Statements of the Company for the financial year ended March 31, 2026. Please refer to Note Nos. 4, 6 and 42 of the Standalone Financial Statements for the financial year ended March 31, 2026, for further details.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS

Regulatory Proceedings

Except for the initiation of the Corporate Insolvency Resolution Process ("CIRP") against its subsidiary, Grandstar Realty Private Limited, there were no significant and material orders passed by any regulator, court or tribunal during the year under review that would impact the going concern status of the Company or materially affect its future operations.

Reclassification of Shareholders

During the financial year under review,the Company has received approvals from National Stock Exchange of India Limited and BSE Limited, vide letters dated April 25, 2025, for the reclassification of the following individuals from the "Promoter and Promoter Group" Category to the "Public" Category of shareholders, in accordance with provisions of Regulation 31A(3) of the Listing Regulations:

RELATED PARTY TRANSACTIONS AND POLICY ON RELATED PARTY TRANSACTIONS

During the financial year ended March 31, 2026, all contracts, arrangements and transactions entered into by the Company with its related parties, as defined under the Act and Regulation 2(1) (zb) of the Listing Regulations, were in the ordinary course of business and on an arm's length basis.

In accordance with Regulation 23 of the Listing Regulations, all related party transactions requiring approval of the Audit Committee were placed before and approved by the Audit Committee. Repetitive transactions of a routine nature were approved through the omnibus approval mechanism in accordance with the Act and applicable provisions of the Listing Regulations and the Company's Policy on Related Party Transactions.

During the financial year under review, the Company did not enter into any contract, arrangement or transaction with a related party that could be considered material under the provisions of the Act, the Listing Regulations or the Company's Policy on Materiality of Related Party Transactions and Dealing with Related Party Transactions. Accordingly, the disclosure of related party transactions in Form AOC-2 pursuant to Section 134(3)(h) of the Act read with Rule 8(2) of the Companies (Accounts) Rules, 2014 is not applicable.

The Board has formulated Policy on Materiality of Related Party Transactions and Dealing with Related Party Transactions, and it may be accessed on the website of the Company at the web link:

https://blob.anantrailimited.com/

anantrai/1781697483678-Policv%20on%20Related%20

Party%20Transactions.pdf

During the year under review, the policy was amended to align the same with the changes in the relevant applicable provisions of the Listing Regulations.

The Board draws attention of the members to Note No(s). 42 of the Standalone and Consolidated Financial Statements, which sets out disclosures on related parties and transactions entered into with them during the financial year under review.

RISK MANAGEMENT POLICY

In compliance with the requirement of the Act, your Company has put in place Risk Minimization and Assessment Procedure. In order to effectively and efficiently manage risk and address challenges, the Company has formulated Risk Management Policy covering the process of identifying, assessing, mitigating, reporting and review of critical risks impacting the achievement of Company's obiectives or threaten its existence.

The main objective of the policy is to ensure sustainable business growth with stability and to promote a pro-active approach in reporting, evaluating and resolving risks associated with the business. In order to achieve the key objective, the policy establishes a structured and disciplined approach to Risk Management, in order to guide decision on risk related issues. As on the date of this report, there is no element of risk, which may threaten the existence of the Company.

The Board has formulated policy on Risk Management and the same may be accessed at the web-link:

https://blob.anantrajlimited.com/

anantrai/1781696838631-Risk%20Management%20Policv.pdf

During the year under review, no changes were carried out in the risk management policy.

VIGIL MECHANISM/ WHISTLE BLOWER POLICY

In compliance to section 177(9) & (10) of the Act and Regulation 22 of the Listing Regulations, the Company has established a "Vigil Mechanism" for its employees and Directors, enabling them to report any concerns of unethical behaviour, suspected fraud or violation of the Company's code of conduct.

To this effect, the Board has adopted a "Whistle Blower Policy", which is overseen by the Audit Committee. The Vigil Mechanism provides adequate safeguards against victimisation of persons who use such mechanism and provides for direct access to the Chairperson of the Audit Committee in appropriate cases. During the year under review, no person was denied access to the Chairperson of the Audit Committee.

The Board has formulated policy on Whistle Blower and the same may be accessed at the web-link: https://blob.anantrailimited.com/ anantrai/1783592726984-Whistle%20Blower%20Policy.pdf

The policy ensures that strict confidentiality is maintained whilst dealing with concerns and also that no discrimination is made against any person.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION,FOREIGN EXCHANGE EARNINGS AND OUTGO

The Information relating to conservation of energy, technology absorption and foreign exchange earnings and outgo, pursuant to section 134(3)(m) of the Act read with the Companies (Accounts) Rules, 2014 is enclosed as 'Annexure-I' and forms part of this Report.

PARTICULARS OF EMPLOYEES AND REMUNERATION

Disclosures pertaining to remuneration and other details as required under section 197 (12) of the Act read with Rules 5(1), (2) and (3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are annexed to this Report as 'Annexure-II and Annexure-III'.

COMMITTEES OF BOARD

Pursuant to various requirements under the Act and the Listing Regulations, the Board of Directors has constituted/reconstituted (whenever necessitated) the following committees:

(i) Audit Committee

Pursuant to the provisions of Section 177 of the Companies Act, 2013 read with the Companies (Meetings of Board and its Powers) Rules, 2014 and Regulation 18 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has constituted an Audit Committee.

(ii) Stakeholder’s Relationship Committee

Pursuant to the provisions of Section 178 of the Companies Act, 2013 and Regulation 20 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has constituted a Stakeholders' Relationship Committee.

(iii) Nomination and Remuneration Committee

Pursuant to the provisions of Section 178 of the Companies Act, 2013 read with the Companies (Meetings of Board and its Powers) Rules, 2014 and Regulation 19 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has constituted a Nomination and Remuneration Committee.

The Company recognises that an appropriately constituted and diverse Board enhances the quality of decision-making and contributes to sustainable value creation. In accordance with the applicable provisions of the Act and the Listing Regulations, the Company has adopted a Nomination and Remuneration & Board Diversity Policy.

The Policy, inter alia, sets out the criteria for appointment, re-appointment and remuneration of Directors, Key Managerial Personnel and Senior Management Personnel, including criteria for determining qualifications, positive attributes and independence of Directors. The Policy also provides a framework for evaluation of the performance of the Board, its committees and individual Directors, and promotes diversity at the Board and senior management levels.

The Policy is available on the website of the Company at:

https://blob.anantrajlimited.com/

anantrai/1781697375171-Nomination%20and%20

Remuneration%20&%20Board%20Diversity%20

Policy.pdf

During the year under review, the Policy was reviewed and amended to align it with the applicable regulatory requirements.

The Company affirms that the remuneration paid to its Directors, Key Managerial Personnel and Senior Management Personnel is in accordance with the Nomination and Remuneration Policy of the Company.

(iv) Share Transfer Committee

The Company has constituted a Share Transfer Committee to oversee and approve matters relating to transfer, transmission, transposition, dematerialisation and other share-related investor service requests, as may be delegated by the Board from time to time.

(v) Corporate Social Responsibility (CSR) Committee

Pursuant to the provisions of Section 135 of the Companies Act, 2013 and the rules made thereunder, the Company has constituted a Corporate Social Responsibility ("CSR") Committee.

The CSR Policy is available on the Company's

website at https://blob.anantrailimited.com/

anantrai/1783596158214-CSR%20Policy.pdf

During the year under review, no changes were carried out in the CSR Policy.

The CSR Policy of the Company lays emphasis on a transparent monitoring mechanism for ensuring effective implementation of the CSR projects and programmes undertaken by the Company in line with the objectives of the Policy.

In accordance with the Companies (Corporate Social Responsibility Policy) Rules, 2014, the annual action plan for CSR activities is formulated and recommended by the CSR Committee and approved by the Board of Directors.

The Annual Report on CSR activities, containing the particulars prescribed under the Companies (Corporate

Social Responsibility Policy) Rules, 2014, is annexed to this Report as Annexure-IV and forms an integral part hereof.

(vi) Finance and Investment Committee

The Company has constituted a Finance and Investment Committee of the Board to consider and approve matters relating to borrowings, banking facilities and investments, within the authority delegated to it by the Board of Directors from time to time.

(vii) Risk Management Committee:

Pursuant to Regulation 21 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has constituted a Risk Management Committee to assist the Board in overseeing and monitoring the Company's risk management framework and in identifying, evaluating and mitigating business risks and opportunities.

(viii) Demerger Committee

Subsequent to the close of the financial year under review, the Board of Directors, at its meeting held on May 11, 2026, constituted a committee comprising Directors and senior management personnel to evaluate various restructuring alternatives, including the potential merger, demerger or reorganisation of the Company's Real Estate and Data Centre businesses, and to submit its recommendations to the Board. The Committee has been authorised to engage consultants, valuers, legal advisors and other professionals, as may be required, for evaluating such restructuring alternatives and formulating an appropriate scheme.

Composition and terms of reference of Committees, meetings held during the year and attendance thereat

The mandatory committees of the Board have been constituted in compliance with the applicable provisions of the Act and the Listing Regulations. The details relating to the composition and terms of reference of all the Committees of the Board, the meetings held during the year, and attendance of the members thereat are provided in the Corporate Governance Report, which forms part of this Annual Report.

Further, all recommendations made by the Board Committees as applicable, were duly reviewed and accepted by the Board.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to Section 134(3)(c) of the Act, the Board of Directors hereby confirms and accepts the responsibility for the following in respect of the Audited Financial Statements for the financial year ended March 31, 2026:

(a) that in the preparation of the annual accounts, the applicable accounting standards had been followed and there are no material departures from the same;

(b) that the directors had selected such accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the Company for that period;

(c) that the directors had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

(d) that the directors had prepared annual accounts for the financial year ended March 31,2 02 6, on a going concern basis;

(e) that proper internal financial controls were in place and that the financial controls were adequate and were operating effectively; and

(f) that the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis Report for the financial year under review, as stipulated under the Listing Regulations is annexed and forms part of this Annual Report.

CORPORATE GOVERNANCE REPORT

As per the requirement of regulation 34(3) read with Schedule V of Listing Regulations, a report on Corporate Governance is annexed, which forms part of this Annual Report.

A certificate from the Statutory Auditors of the Company confirming compliance with the conditions of Corporate Governance, as stipulated under Schedule V to the SEBI (Listing

Obligations and Disclosure Requirements) Regulations, 2015 read with Regulation 34(3) thereof, is annexed to the Corporate Governance Report and forms part of this Annual Report.

BUSINESS RESPONSIBILITY AND SUSTAINABILITY REPORT

Pursuant to Regulation 34(2)(f) of the Listing Regulations, the Company has prepared the Business Responsibility and Sustainability Report ("BRSR") for the financial year ended March 31, 2026, in the format prescribed by the the SEBI. The BRSR sets out the Company's performance and disclosures on environmental, social and governance ("ESG") parameters and sustainability-related initiatives.

Further, the Company has appointed TOV SOD South Asia Private Limited, an independent assurance provider to provide reasonable assurance for BRSR Core indicators consisting of Key Performance Indicators under the ESG attributes.

The BRSR for the financial year ended March 31, 2026, together with the BRSR Core reasonable assurance report, forms part of this Annual Report and is also available on the Company's website at www.anantrailimited.com.

PREVENTION, PROHIBITION AND REDRESSAL OF SEXUAL HARASSMENT AT WORKPLACE

The Company has zero tolerance for sexual harassment at workplace and has formulated a policy on Prevention, Prohibition and Redressal of Sexual Harassment at the workplace, in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and rules there under. The Policy aims to provide protection to employees at the workplace and prevent and redress complaints of sexual harassment and for matters connected or incidental thereto, with the objective of providing a safe working environment, where employees feel secure. All the employees of the Company as a part of induction are sensitized about the provisions of the said Act. The Company believes in providing safe working place for the Women in the Company and adequate protection are given for them to carry out their duties without fear or favour.

Your Company has complied with the provisions relating to constitution/re-constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.

During the year under review, no complaint was received or remained pending for disposal under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013. The details pursuant to the provisions of the Act are as under:

(a) No. of complaints of sexual harassment received in the year: NIL

(b) No. of complaints disposed-off during the year: NIL

(c) No. of cases pending for more than 90 days: NIL

(d) No. of complaints pending as on March 31, 2026: NIL

ANNUAL RETURN

Pursuant to the provisions of section 92 (3) read with section 134 (3) (a) of the Act and rules framed thereunder, the Annual Return,for the financial year ended March 31, 2026, is available on the website of the Company and can be accessed through the web link: https:// blob.anantrailimited.com/anantrai/1783757425831-Annual%20 Return%202025-2026.pdf

SUBSIDIARIES AND GROUP COMPANIES

As on March 31, 2026, the Company had 46 (forty-six) subsidiaries comprising 40 (forty) direct subsidiaries and 6 (six) indirect subsidiaries. The Company also had 1 (one) Associate Company and 2 (two) Joint Ventures.

None of the subsidiaries, associates and joint ventures entities are listed on any Stock Exchange. Further, none of the subsidiaries qualified as a Material Subsidiary as defined in Regulation 16(1) (c) of the Listing Regulations.

The Company has adopted a policy on determining material subsidiaries and the same is placed on the website of the Company. The said policy may be accessed at the web-link: https:// blob.anantrailimited.com/anantrai/1781848767779-Policy%20 on%20Determining%20Material%20Subsidiaries.pdf

During the year under review, no changes were carried out in policy on determining material subsidiaries.

The Board periodically reviews the affairs, business performance and financial position of the subsidiaries of the Company.

THE NAMES OF COMPANIES WHICH HAVE BECOME OR CEASED TO BE ITS SUBSIDIARIES, JOINT VENTURE OR ASSOCIATE COMPANIES DURING THE FINANCIAL YEAR

During the financial year ended March 31, 2026, Vrittanta Real Estate Private Limited and Romano Builders Private Limited, both Wholly Owned Subsidiaries of the Company, jointly invested in Blessed Landbase LLP (the "LLP"). Pursuant to the said

investment, each Wholly Owned Subsidiary acquired a 50% partnership interest in the LLP, resulting in the Company, through its wholly-owned subsidiaries, holding an aggregate 100% partnership interest therein. Consequently, Blessed Landbase LLP became a step-down subsidiary of the Company during the year.

Apart from the above, no company became or ceased to be a subsidiary, associate company or ioint venture of the Company during the year under review.

CONSOLIDATED FINANCIAL STATEMENTS

The Consolidated Financial Statements of your Company for the financial year ended March 31, 2026, have been prepared in accordance with the principles and procedures of Indian Accounting Standards as notified under the Companies (Indian Accounting Standards) Rules, 2015, as specified under Section 133 of the Act. Pursuant to Section 129(3) of the Act read with the rules made thereunder, the Consolidated Financial Statements of the Company, incorporating the financial statements of its subsidiaries, associate company and joint ventures, form part of this Annual Report.

In compliance with section 129 of the Act read with Rule 5 of the Companies (Accounts) Rules, 2014, a statement containing the salient features of the Financial Statements of the Subsidiaries, Joint Ventures and Associate Companies of the Company and reflecting their performance and their contribution to the overall performance of the Company for the Financial Year ended March 31, 2026 in form AOC-1 is annexed as 'Annexure-V' and forms part of this Report. The names of the subsidiaries, associate company and joint ventures as on March 31, 2026, are set out in Form AOC-1 and the Notes to the Consolidated Financial Statements.

Pursuant to Section 136 of the Act, the standalone and consolidated financial statements of the Company, together with the audited financial statements of its subsidiaries and other relevant documents, are available on the website of the Company at www.anantrailimited.com.

DECLARATION FROM INDEPENDENT DIRECTORS ON ANNUAL BASIS

The Independent Directors hold office for their respective term and are not liable to retire by rotation. The Company has received from all the Independent Directors a declaration under section 149(7) of the Act confirming that they fulfil the criteria of independence as provided under section 149(6) of the Act and regulation 16(1) (b), read with Regulation 25 of the Listing Regulations.

All the Independent Directors of the Company are compliant of the provisions of Section 150 read with Rule 6 of the Companies (Appointment and Qualifications of Directors) Rules, 2014.

In the opinion of the Board all Independent Directors possess strong sense of integrity and having requisite experience (including proficiency), qualifications, skills and expertise as well as independent of the management. For further details, please refer Corporate Governance Report.

There has been no change in the circumstances which may affect their status as Independent Director during the financial year under review.

PREVENTION OF INSIDER TRADING

The Company has framed a code of conduct for prevention of insider trading based on Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. This code is applicable to all the Board members/ employees/ officers/ designated persons of the Company. The code requires pre-clearance for dealing in the Company's shares in certain cases and prohibits the dealing in the Company's shares by the Directors and the Designated Persons and their immediate relatives while in possession of unpublished price sensitive information in relation to the Company and during the period when the trading window is closed. Further, the Company has in place "Code of Practices and Procedures for fair disclosures of Unpublished Price Sensitive Information" for ensuring timely and adequate disclosure of Price Sensitive Information to the investor community by the Company to enable them to take informed investment decisions with regard to the Company's securities.

The Code of practices & procedure for fair disclosure of unpublished price sensitive information and the Code of internal control policies and procedure for prevention of insider trading have been posted on the website of the Company viz. https:// blob.anantrailimited.com/anantrai/1779354191464-Code%20 of%20Practices%20and%20Procedures%20for%20Fair%20 Disclosure%20of%20Unpublished%20Price%20Sensitive%20 Information.pdf

httDs://blob.anantrailimited.com/anantrai/1781697306236-Code%20 of%20Internal%20Control%20Policies%20and%20 Procedures%2 0for%2 0Prevention%2 0of%2 0Insider%2 0 Trading.pdf

Detailed information in respect of the above is provided in the Corporate Governance Report, which forms part of this Annual Report.

During the year, the policy was reviewed and revised to incorporate the necessary updates.

BOARD MEETINGS

The Company convened five (5) meetings of the Board of Directors during the financial year ended March 31, 2026. The meetings were held on April 21, 2025, June 10, 2025, July 24, 2025, November 8, 2025 and January 21, 2026. The gap between any

two consecutive meetings did not exceed the period prescribed under the Act and the Listing Regulations.

Agenda papers, together with detailed notes and supporting information, are circulated well in advance of the meetings to enable the Board to deliberate and take informed decisions. The Board is regularly apprised of significant developments relating to the Company's business, operations, financial performance, industry trends, risk management and regulatory matters.

Detailed information regarding the meetings of the Board and attendance of the Directors thereat is provided in the Corporate Governance Report, which forms part of this Annual Report.

MEETING OF INDEPENDENT DIRECTORS

In terms of Regulation 25(3) of Listing Regulations and as stipulated in the code for Independent Directors under Schedule IV of the Act, a separate meeting of Independent Directors was held on June 10, 2025, to review the performance of non-independent directors and the Board as a whole. In the said meeting, the Independent Directors assessed and reviewed the quality, quantity and timeliness of the flow of information between the Management and the Board and its committees which is essential for effective discharge of their duties and expressed their satisfaction.

All the Independent Directors were present at the meeting.

FAMILIARISATION PROGRAMME FOR INDEPENDENT DIRECTORS

Every Independent Director is briefed about the history of the Company, its policies, customers, Company's strategy, operations, organisation structure, human resources, technologies, facilities and risk management. Projects/S ite visits are also arranged for the Directors to familiarize them with the processes and operations of the Company.

At the time of appointing a director, a formal letter of appointment is given to him/her, which inter alia explains the roles, functions, duties and responsibilities expected from him/her as a Director of the Company. The Director is also explained in detail the compliances required from him/her under the Act and Listing Regulations.

The Independent Directors are briefed on their role, responsibilities, duties and are kept updated on the various regulatory and legislative changes that may occur from time to time affecting the operations of the Company. The Independent Directors are also briefed on the various policies of the Company like the code of conduct for directors and senior management personnel, policy on related party transactions, policy on material subsidiaries, whistle blower policy and corporate social responsibility policy and other policies adopted by the Company. Moreover, Directors are frequently updated, inter-alia, on business strategies and

performance, management structure and key initiatives of the business at each Board Meeting.

The details of familiarization programme conducted for the independent directors is disclosed on the website of the Company at: https://blob.anantrailimited.com/ anantrai/1779343518934-Familirisation%20Programme.pdf

PERFORMANCE EVALUATION OF THE BOARD, ITS COMMITTEES AND INDIVIDUAL DIRECTORS (INCLUDING PERFORMANCE EVALUATION CRITERIA FOR INDEPENDENT DIRECTORS)

Pursuant to the provisions of the Act, Schedule IV thereto and the applicable provisions of the Listing Regulations, the annual performance evaluation of the Board of Directors, its committees and individual Directors, including Independent Directors, was undertaken during the financial year.

The Nomination and Remuneration Committee had formulated the criteria and framework for the performance evaluation exercise. The evaluation was carried out through structured questionnaires covering various aspects of the functioning and performance of the Board, its Committees and individual Directors, including, inter alia, Board composition, effectiveness of Board processes, strategic guidance, governance practices, participation in meetings, quality of deliberations, contribution to decision-making, oversight of risk management and compliance, and discharge of fiduciary responsibilities.

The performance of the Board as a whole, its committees and individual Directors, was evaluated after considering the feedback received from the Directors. While evaluating the performance of the Executive Directors, due consideration was given to the views and feedback received from the Non-Executive Independent Directors.

The performance evaluation of the Independent Directors was carried out by the entire Board, excluding the Director being evaluated, and included an assessment of their performance as well as fulfilment of the criteria of independence and their independence from the management. The evaluation was based on various parameters including attendance and participation in Board and Committee meetings, quality of contribution to deliberations, strategic guidance, exercise of independent iudgment, safeguarding of stakeholder interests, oversight of governance, risk management and compliance matters, adherence to the Code for Independent Directors and fulfilment of the independence criteria prescribed under the Act and the Listing Regulations.

In accordance with Schedule IV to the Act and the Listing Regulations, the Independent Directors met separately

AUDITORS

i) STATUTORY AUDITORS AND THEIR REPORT

In Compliance with the provisions of Sections 139, 141, 142 and other applicable provisions, if any, of the Act and the Companies (Audit and Auditors) Rules, 2014 (including any statutory modification(s)/ re-enactment(s)/amendment(s) thereof, for the time being in the force), M/s Ranjana Vandana & Co., Chartered Accountant (Firm's Registration No. 008961C), were appointed as statutory auditors for a period of five consecutive years commencing from the conclusion of 37^th AGM (Annual General Meeting) held on July 11, 2022 till the conclusion of 42^nd AGM to be held in the year 2027-28.

The audit report given by M/s Ranjana Vandana & Co., Chartered Accountants, Statutory Auditors, on the Financial Statements (Standalone and Consolidated) of the Company for the financial year ended March 31, 2026, forms part of the Annual Report. There has been no qualification, reservation or adverse remarks or any disclaimer in their report. Further, the Auditors' Report read along with notes to accounts is self-explanatory and therefore does not call for further comments.

ii) COST AUDITORS AND COST AUDIT REPORT

The cost records as specified under sub-section (1) of 148 is required to be maintained by the Company and accordingly such accounts and records are made and maintained.

M/s Yogesh Gupta & Associates (Firm Registration No. 000373) were re-appointed as the Cost Auditors to conduct the audit of the cost records of the Company for the financial year ended March 31, 2026.

Further, pursuant to the provisions of section 148 of the Act read with the Companies (Audit and Auditors) Rules, 2014 as amended and as per the recommendation of the Audit Committee, the Board at their meeting held on June 27, 2026 re-appointed M/s Yogesh Gupta & Associates (Firm Registration No. 000373) as Cost Auditors of the Company for the financial year 2026-2027 to audit the cost records of the Company. A resolution for ratification of the remuneration payable for such cost audit services forms part of the Notice of ensuing 41^st Annual General Meeting.

A certificate from M/s Yogesh Gupta & Associates, Cost Accountants, has been received to the effect that their re-appointment as Cost Auditors of the Company, if made, would be in accordance with the limits prescribed under Section 141 of the Act and the rules framed thereunder.

The cost audit report with no qualification, reservation or adverse remarks or any disclaimer there in, issued by the Cost Auditors for the financial year ended March 31, 2025, was filed with the Registrar of Companies in Form CRA-4 within the prescribed timeline.

iii) SECRETARIAL AUDITORS AND SECRETARIAL REPORT

Pursuant to the provisions of Section 204 of the Act and Regulation 24A of the Listing Regulations, Ms. Priya Jindal, Practicing Company Secretary, (bearing COP No. 20065) was appointed as the Secretarial Auditor of the Company for a term of 5 (five) consecutive years, commencing from April 1, 2025, and to hold office from the conclusion of 40^th Annual General Meeting held on July 23, 2025, till the conclusion of the 45^th Annual General Meeting of the Company.

The Secretarial Auditor has confirmed that she has subjected herself to the peer review process of Institute of Company Secretaries of India (ICSI) and holds valid certificate issued by the Peer Review Board of the ICSI having Certificate No.: 2356/2022).

The Secretarial Audit Report for the financial year ended March 31, 2026, is annexed herewith as "Annexure-VI".

There are no qualifications or observations, or adverse remarks made by the Secretarial Auditor in her Report. The contents of the Secretarial Audit Report are self-explanatory and do not call for any further comments by the Board.

Ms. Priya Jindal, has confirmed that she is not disqualified from continuing as the Secretarial Auditor of the Company.

Further, pursuant to the Regulation 24A of Listing Regulations, the Annual Secretarial Compliance Report for the financial year 2025-2026 has been submitted to the stock exchanges within 60 days of the end of the financial year and is available on the website of the Company at www.anantrailimited.com.

iv) INTERNAL AUDITORS

The Board of Directors of your Company had appointed Mr. Narendra Singh Negi, Chartered Accountant (Membership No. 477905) as the Internal Auditor of the Company pursuant to the provisions of section 138 of the Act for the financial year 2025-2026, and the reports on

quarterly basis submitted by the internal auditor were placed before the audit committee and Board of Directors.

Further, the Board, at its meeting held on June 27, 2026, re-appointed Mr. Narendra Singh Negi, Chartered Accountant (Membership No. 477905), as the Internal Auditor of the Company pursuant to the provisions of section 138 of the Act for the financial year 2026-2027.

Reporting of Frauds:

Pursuant to the provision of section 143(12) of the Act and rules framed thereunder, there have been no instances of fraud reported by any Auditors either to the Company or to the Central Government.

Further, there is no such fraud or similar thing to report by the Board under section 134(3)(ca) of the Act.

FOLLOWING POLICIES ARE ALSO ADOPTED BY THE BOARD AND ARE AVAILABLE ON THE WEBSITE OF COMPANY AT WWW. ANANTRAJLIMITED.COM

1. Policy for Preservation of Documents and Archival of Documents

URL for the same is: https://blob.anantrajlimited. com/anantrai/1781697401318-Policv%20for%20 Preservation%20of%20Documents%20and%20 Archival%20of%20Documents.pdf

2. Policy on determination of materiality of the events/ information for making disclosure by the Company.

URL for the same is: https://blob.anantrailimited.

com/anantrai/1783592928904-Policy%20on%20 Determination%20of%20Materiality.pdf

3. Policy on determination of material subsidiary. The same may be assessed at https://blob.anantrailimited. com/anantrai/1781848767779-Policy%20on%20 Determining%20Material%20Subsidiaries.pdf

4. Policy on code of conduct for the Board of Director and senior management personnel. The same may be assessed at https://blob.anantrailimited.com/ anantrai/1781701130677-Code%20of%20Conduct%20 for%20Board%20Members%20&%20Senior%20 Management.pdf

GENERAL

The Directors state that no disclosure or reporting in respect of the

following items is required as there were no transactions/events

relating to these items during the financial year under review:

(a) Neither Managing Director nor the Whole-time Directors of the Company received any remuneration or commission from any of its subsidiaries.

(b) Details of difference between the amount of valuation at the time of one-time settlement and valuation done while taking loan from banks or financial institutions.

(c) The Company does not have any scheme of provision of money for the purchase of its own shares by employees or by trustees for the benefit of employees.

(d) The Company does not have any shares in unclaimed suspense demat account.