The Board of Directors are pleased to present the 40^th Annual Report of the Company along with the Company's Audited Financial
Statements (Standalone and Consolidated) for the Financial Year ended March 31, 2026 ("Period under review").

1. FINANCIAL HIGHLIGHTS

The Company's performance during the financial year ended March 31, 2026 as compared to the previous financial year is
summarized below:

2. FINANCIAL PERFORMANCE
STANDALONE

During the period under review, the Company recorded
standalone revenue of ? 2,302.61/- crores, as compared
to ? 917.50/- crores in the previous financial year 2024¬
25. Correspondingly, the Company reported a profit (after
tax) of ? 70.35/- crores for the financial year 2025-26,
as against a loss (after tax) of ? (198.75)/- crores in the
previous financial year 2024-25.

CONSOLIDATED

During the period under review, the consolidated revenue
of the Company stood at ? 3,739.83/- crores, as against ?

2,013.61/- crores in the previous financial year 2024-25,
registering a growth of approximately 85.73% over the
previous year.

The Company reported a consolidated profit after tax
of ? 56.75/- crores during the period under review, as
compared to a consolidated loss after tax of ? (182.92/-)
crores in the previous financial year 2024-25 reflecting a
significant improvement in the Company's overall financial
performance.

Your Company is engaged in the business of real estate
development and sale of residential and commercial
properties and recognizes revenue in accordance with the
provisions of Indian Accounting Standard (Ind AS) 115 -
Revenue from Contracts with Customer.

To ensure sustainable business operations and maintain
a balanced revenue and cost profile, your Company
has strategically planned its project portfolio with
developments at various stages of completion, enabling
continuous project deliveries and healthy cash flows.
In addition, the Company has expanded its portfolio by
launching plotted development projects, which have
comparatively shorter execution and completion cycles,
thereby supporting improved cash flow generation and
revenue visibility.

3. STATE OF THE COMPANY'S AFFAIRS AND
OPERATIONAL PERFORMANCECOMPLETED PROJECTS

The Company has continued to make significant progress
in the execution and has successfully delivered 4.95
million square feet of multiple residential projects
including plotted land development projects in south of
about 4.3 million square feet, demonstrating its strong
execution capabilities and commitment to quality.

ONGOING PROJECTS

Your Company has launched residential projects
aggregating 1.57 million square feet including 3.7 million
square feet of ongoing residential projects. The Company
has a robust pipeline of ongoing and launched projects
of around 5.27 million square feet saleable area across
various locations.

4. DIVIDENDDECLARATION OF DIVIDEND

With a view to strengthening the Company's long-term
growth prospects and conserve cash reserves to support
its strategic priorities, the Board of Directors has decided
not to recommend any dividend for the financial year
ended March 31, 2026.

The Company intends to retain the profits generated
during the year to support project launch, strengthen
its financial position, and to meet its future funding
requirements.

UNCLAIMED AND UNPAID DIVIDENDS, AND
TRANSFER OF SHARES TO INVESTOR EDUCATION
AND PROTECTION FUND (IEPF)

In pursuance of Section 124 of the Companies Act,
2013 read with the Investor Education Protection Fund
Authority (Accounting, Audit, Transfer and Refund)
Rules, 2016 ("Rules"), all dividends remaining unpaid or
unclaimed for a period of 7 (Seven) years and also the
shares in respect of which the dividend has not been
claimed by the shareholders for 7 (Seven) consecutive
years or more are required to be transferred to Investor

Education Protection Fund (IEPF) in accordance with the
procedure prescribed in the Rules.

The Company has already transferred the relevant equity
shares along with the unclaimed dividend pertaining to
the financial year 2017-18, to the IEPF Fund. In respect
of the financial year 2018-19, the unclaimed dividend and
corresponding equity shares will be transferred to the
IEPF Fund within the prescribed timeline in compliance
with provisions of Section 124 and 125 of the Companies
Act, 2013, read with the Rule 6 of Investor Education and
Protection Fund Authority (Accounting, Audit, Transfer &
Refund) Rules, 2016.

You may refer to the section on Corporate Governance,
under head 'Transfer to IEPF Account' for more details.

DIVIDEND DISTRIBUTION POLICY

In pursuance of Regulation 43A of the Securities
and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 ('SEBI Listing
Regulations'), the Company has formulated a Dividend
Distribution Policy ('the Policy').

The Policy of the Company is available on the website
of the Company at https://www.puravankara.com/uploads/
DIVIDEND DISTRIBUTION POLICY.pdf.

5. TRANSFER TO RESERVES

In pursuance of the provisions under Section 123 of the
Companies Act, 2013, the Board of Directors has decided
not to transfer any amount to the General Reserve of the
Company for the period under review.

6. CAPITAL STRUCTURE
SHARE CAPITAL

The paid-up equity share Capital of the Company remained
unchanged at ? 118,57,48,430 /- (Rupees One Hundred
and Eighteen Crores Fifty Seven Lakhs Forty Eight
Thousand Four Hundred Thirty Only) during the financial
year ended March 31, 2026. The said shares are listed
on the BSE Limited (BSE) Limited and the National Stock
Exchange of India (NSE) Limited.

There were no Public issue, Rights issue, Bonus issue,
Preferential issue or buy-back of its own Shares or other
specified Securities during the period under review.
Further, the Company has not issued Equity Shares with
differential rights as to dividend, voting or otherwise.

EMPLOYEE STOCK OPTION PLAN:

The disclosures in terms of Rule 12 (9) of Companies
(Share Capital and Debenture) Rules, 2014 read with
Regulation 14, Part F of Schedule I to the SEBI (Share
Based Employee Benefit & Sweat Equity) Regulations,

2021 ("SBEB Regulations, 2021") forms a part of this
report as Annexure IV.

Pursuant to the provisions under Regulation 13 of SBEB
Regulations, 2021, the Secretarial Auditor's certificate on
the implementation of the Plan -2022, in accordance with
the aforesaid Regulations, will be made available at the
ensuing Annual General Meeting ("AGM") and forms part
of this report as Annexure IVA.

The applicable disclosures as stipulated under the
provisions of Regulation 14 of the SBEB Regulations,
2021, are available on the website of the Company at:
https://www.puravankara.com/investors

DISCLOSURE RELATING TO SWEAT EQUITY SHARES

The Company has not issued any sweat equity shares
during the period under review and hence no information
under Rule 8(13) of the Companies (Share Capital and
Debenture) Rules, 2014 is required to be furnished.

DISCLOSURE IN RESPECT OF VOTING RIGHTS NOT
DIRECTLY EXERCISED BY EMPLOYEES

There are no shares held by trustees for the benefit of
employees and hence no disclosure under Rule 16(4)
of the Companies (Share Capital and Debentures) Rules,
2014 is required to be furnished.

DEBENTURES

As on March 31, 2026, the Company has outstanding
Standalone Debentures amounting to ? 268.45/- Crores
and outstanding Consolidated Debentures amounting to
? 2,381.95/- Crores

During the period under review, your Company on

(i) June 20, 2025, raised an amount of ? 50,00,00,000/-
(Rupees Fifty Crores only) by way of allotment of 500
(Five Hundred) Unlisted, Unrated, Senior, Secured,
Redeemable, Non-Convertible Debentures of face
value of ? 10,00,000/- (Rupees Ten Lakhs only), at
par, as first tranche, on a private placement basis to
identified investors,

(ii) November 20, 2025, raised an amount of ?
75,00,00,000/- (Rupees Seventy-Five Crores only) by
way of allotment of 750 (Seven Hundred and Fifty)
Unlisted, Unrated, Senior, Secured, Redeemable, Non¬
Convertible Debentures of face value of ? 10,00,000/-
(Rupees Ten Lakhs only), at par, as Second tranche, on
a private placement basis to identified investors and

(iii) February 13, 2026, raised an amount of ?
150,00,00,000/- (Rupees One Hundred and Fifty
Crores only) by way of allotment of 1500 (One
Thousand Five hundred) Unlisted, Unrated, Senior,
Secured, Redeemable, Non-Convertible Debentures
of face value of ? 10,00,000/- (Rupees Ten Lakhs
only), at par, as third tranche, on a private placement
basis to identified investors, on a private placement
basis to identified investors out of the total approved
issuance amount of ? 300,00,00,000/- (Rupees
Three Hundred Crores only).

7. DEPOSITS

During the period under review, your Company neither
accepted any deposits nor there were any amounts
outstanding at the beginning of the year which were
classified as 'Deposits' within the meaning of Section 73
of the Companies Act 2013 read with Rule Companies
(Acceptance of Deposits) Rules, 2014 and Chapter V of
the Act. Therefore, disclosure in pursuance of Rule 8(5)(v)
and (vi) of the Companies (Accounts) Rules, 2014 is not
furnished.

8. PARTICULARS OF INVESTMENTS MADE, LOANS
GIVEN, GUARANTEES GIVEN AND SECURITIES
PROVIDED BY THE COMPANY

The particulars of loans, guarantees and investments
made at the end of FY 2025-26 are provided in the
standalone financial statements (refer note No. 6 and 7).

Further to note that, the Company being an Infrastructure
Company, is exempted from the applicability of the
provisions of Section 186 of the Companies Act, 2013, to
the extent prescribed under the Act and the Rules made
thereunder.

9. DIRECTORS AND KEY MANAGERIAL PERSONNEL
("KMP”)

During the period under review, the Board of the Company
comprised of Six (6) Directors, out of which three (3) are
Executive Directors and three (3) are Non-Executive
Independent Directors. During the period under review,
the composition of the Board was in due compliance with
the provisions under the Companies Act 2013 and SEBI
Listing Regulations.

The composition of the Board as on the date of the report
is as follows:

During the Period under review:

*Ms. Amanda Joy Puravankara was appointed as Whole-Time Director and Key Managerial Personnel of the Company w.e.f.
August 08, 2025.

**Mr. Niraj Kumar Gautam was appointed as the Chief Financial Officer of the Company with effect from September 24, 2025,
following the resignation of Mr. Deepak Rastogi as Group Chief Financial Officer, with effect from September 23, 2025.

In accordance with the provisions of Section 152 (6) of the Companies Act, 2013, Mr. Ravi Puravankara (DIN: 00707948)
is liable to retire by rotation at the ensuing Annual General Meeting ("AGM") and being eligible, have offered himself for re¬
appointment.

The Notice convening the 40^th AGM includes the proposals for the re-appointment of the aforesaid Director and the brief
details indicating the nature of his expertise in specific functional areas and names of the companies in which he holds
directorship/ membership/ chairmanship of the Board or Committees, as stipulated under SEBI Listing Regulations and
Secretarial Standard-2 (SS-2) issued by Institute of Company Secretaries of India (ICSI) as amended, have been provided as an
annexure to the Notice convening the 40^th (Fortieth) Annual General Meeting of your Company.

MEETINGS OF THE BOARD

During the financial year 2025-26, the Board of Directors
duly met five (5) times on:

The mandatory requirement of holding meetings of the
Board of Directors of the Company, i.e., within the interval
of 120 (One Hundred and Twenty) days as provided under
Section 173 of the Companies Act, 2013 ("Act") and
Regulation 17(2) of SEBI Listing Regulations, has been
complied with.

For further details, you may refer to the section on
Corporate Governance, under head 'Board of Directors'
forming part of this Annual Report.

The recommendations and suggestions of the Committees
of the Board were duly considered and accepted by
the management of your Company and implemented
thoroughly. The Board of Directors further confirm
that the 'Secretarial Standards I - Meeting of Board of

Directors' issued by the Institute of Company Secretaries
of India (ICSI) have been duly complied with.

COMMITTEES OF THE BOARD

As on March 31, 2026, the Board had 5 (five) Statutory
Committees i.e., (i) Audit Committee (ii) Nomination
and Remuneration Committee (iii) Corporate Social
Responsibility Committee (iv) Stakeholders' Relationship
Committee and (v) Risk Management Committee and 1
(One) Non-Statutory Committee i.e., Management Sub¬
Committee of Board of Directors.

(i) Audit Committee

An Audit Committee has been constituted in
accordance with the provisions of Section 177 of the
Companies Act, 2013 and Regulation 18 of the SEBI
Listing Regulations. You may refer to the section on
Corporate Governance, under head 'Audit Committee'
for matters relating to constitution, meetings and
terms of reference of this Committee.

(ii) Nomination and Remuneration Committee

A Nomination and Remuneration Committee has
been constituted in accordance with the provisions
of Section 178 (1) of the Companies Act, 2013 and
Regulation 19 of the SEBI Listing Regulations. You may
refer to the section on Corporate Governance, under
head 'Nomination and Remuneration Committee' for
matters relating to the constitution, meetings, terms
of reference of the Committee; and the remuneration
policy formulated by this Committee.

(iii) Stakeholders Relationship Committee

A Stakeholders relationship Committee has been
constituted in line with Section 178 (5) of the
Companies Act, 2013 and the provisions under
Regulation 20 of the SEBI Listing Regulations.

You may refer to the section on Corporate
Governance, under the head 'Stakeholders
Relationship Committee' for matters relating to
constitution, meetings, and terms of reference of the
Committee.

(iv) Risk Management Committee

The Company has in place a Risk Management
Committee duly constituted in line with the provisions
under Regulation 21 of the SEBI Listing Regulations.
You may refer to the section on Corporate Governance,
under the head 'Risk Management Committee' for
matters relating to the constitution, meetings, and
terms of reference of the Committee.

(v) Corporate Social Responsibility Committee

In pursuance of the provisions of Section 135 of
the Companies Act, 2013 and Company's (Corporate
Social Responsibility Policy) Rules 2014, a Corporate
Social Responsibility (CSR) Committee has been
constituted by the Board of the Company.

For details of the composition of the Committee,
the CSR policy and other relevant details that are
required to be disclosed under the provisions of
Section 134(3)(o) of the Companies Act, 2013 and
the Companies (Corporate Social Responsibility
Policy) Rules, 2014, kindly refer to the section on
Corporate Governance, under head 'Corporate Social
Responsibility Committee' and the annual report on
CSR which is enclosed as Annexure I, which forms
part of this report.

(vi) Management Sub-Committee

For conducting the day-to-day affairs of the Company,
a non-statutory Committee, i.e., Management Sub¬
Committee of the Board of Directors has been
constituted.

You may refer to the section on Corporate Governance,
under head 'Management Sub-Committee' for details
related to composition and other relevant information
of the Committee.

DECLARATION OF INDEPENDENCE BY INDEPENDENT
DIRECTORS

In pursuance of the provisions of Section 149 (7) of
the Companies Act, 2013, the Board confirms that all
Independent Directors of your Company have given a
declaration that they are independent of the Management
and not aware of any circumstances or situation, which
exists or may be reasonably anticipated that could impair
or impact their ability to discharge their duties and that
they meet the criteria of independence as prescribed
under Section 149(6) of the Act along with the Rules
framed thereunder and Regulation 16 of the SEBI Listing
Regulations.

Further, they have included their names in the databank
of Independent Directors maintained with the Indian
Institute of Corporate Affairs (IICA) in terms of Section
150 of the Companies Act 2013 read with Rule 6(1)
of the Companies (Appointment and Qualification of
Directors) Rules, 2014.

The Board is of the opinion that the Independent Directors
of the Company uphold the highest standards of integrity,
possess requisite expertise and experience and proficiency

required to fulfil their duties as Independent Directors.

During the Financial Year 2025-26, a separate meeting
of the Independent Directors was held on February 10,
2026, at which the Independent Directors transacted the
following businesses along with a few other important
strategic and policy-related matters:

• Reviewed performance of the Chairman, Executive
Directors and Management of the Company.

• Discussed the quality, quantity and timeliness of the
flow of information between the Directors and the
Management of the Company.

• Discussed the strategic matters of the Company and
the current state of the real-estate industry.

• Discussed the business continuity plan in the
organization.

ANNUAL PERFORMANCE EVALUATION OF THE
BOARD, ITS COMMITTEES AND INDIVIDUAL
DIRECTORS

In pursuance of the provisions of the Companies Act,
2013 and the SEBI Listing Regulations, and the criteria
formulated by the Nomination and Remuneration
Committee ("NRC") for Board evaluation, the functioning
of its committees and individual Directors including
Independent Directors, the Nomination and Remuneration
Committee and the Board has carried out an annual
evaluation of its own performance, the performance of its
Committees and that of the Individual Directors including
Independent Directors and Chairman of the Company.

The evaluation of the Board and its Committees
was undertaken after obtaining feedback from all
the Directors and was based on various parameters,
including the composition and structure of the Board and
Committee, effectiveness of its processes, quality and
adequacy of information made available to the Board,
governance practices, discharge of responsibilities and
overall functioning. The evaluation framework was broadly
aligned with the Guidance Note on Board Evaluation
issued by SEBI.

Individual Directors are evaluated in the context of the
role played by each Director as a member of the Board,
in realizing the vision and mission of the Company. The
Company believes that it is the collective effectiveness of
the Board that impacts the Company's performance. The
parameters for the Board's performance evaluation have
been derived from the Board's core role of trusteeship
to protect and enhance shareholders' value as well as
to fulfil the expectations of other stakeholders through
strategic supervision of the Company.

In a separate meeting, the Independent Directors
evaluated the performance of the Non-Independent
Directors, the Board as a whole and the Chairman of the
Board, after considering the views of the Non-Executive
Director. The Independent Directors also assessed the
quality, adequacy and timeliness of the flow of information
between the Management and the Board to ensure that
the Board is able to effectively discharge its functions.

The outcome of the performance evaluation was reviewed
and deliberated upon by the Board. The performance of
the Independent Directors was evaluated by the entire
Board, excluding the Director whose performance was
under evaluation.

FAMILIARIZATION PROGRAMME FOR INDEPENDENT
DIRECTORS

The Company conducts a familiarization programme for
the Independent Directors to enable them to familiarize
themselves with the Company, its management and its
operations so as to gain a clear understanding of their
roles, rights and responsibilities for the purpose of
contributing significantly towards the growth of the
Company.

The familiarization programme imparted to Independent
Directors is available on the website of the Company at:

https://www.puravankara.com/uploads/Familiarization.
Programme of Independent Directors 2025-26.pdf.

10. DIRECTORS' RESPONSIBILITY STATEMENT

In pursuance of the provisions under Section 134(5) read
with Section 134(3)(c) of the Companies Act, 2013, your
Directors hereby confirm that:

a) In the preparation of the annual accounts, the
applicable accounting standards had been followed
along with proper explanation relating to material
departures;

b) The Directors have selected such accounting policies
and applied them consistently and made judgments
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 on
March 31, 2026, and of the profit and Loss of the
Company for that period;

c) The Directors have taken proper and sufficient care
for the maintenance of adequate accounting records
in accordance with the provisions of the Companies
Act, 2013, for safeguarding the assets of the
Company and for preventing and detecting fraud and
other irregularities;

d) The annual accounts of the Company have been
prepared on a 'going concern' basis,

e) The Directors have laid down internal financial
controls to be followed by the Company and that
such internal financial controls are adequate and are
operating effectively; and

f) The Directors have devised proper systems to ensure
compliance with the provisions of all applicable laws
and that such systems are adequate and operating
effectively.

11. ADEQUACY OF INTERNAL FINANCIAL CONTROLS

Adequate internal control systems commensurate with
the nature of the Company's business, size and complexity
of its operations, are in place and have been operating
satisfactorily. Internal control systems comprising of
policies and procedures are designed to ensure reliability
of financial reporting, timely feedback on achievement of
operational and strategic goals, compliance with policies,
procedure, applicable laws and regulations. Internal
control systems are designed to ensure that all assets
and resources are acquired economically, used efficiently
and adequately protected.

The Internal Financial Controls, with reference to Financial
Statements as designed and implemented by the
Company, are adequate. During the period under review,
no material or serious observation has been observed
by the Board of Directors of the Company regarding the
inefficiency or inadequacy of such controls.

12. AUDITORS & AUDITORS' REPORT
STATUTORY AUDITORS

In pursuance of the provisions under Section 139 (2) of
the Act read with the Companies (Audit and Auditors)
Rules, 2014 (as amended), M/s. S.R. Batliboi & Associates
LLP, Chartered Accountants, FRN 101049W/E300004,
were appointed by the members as Statutory Auditors of
the Company for a period of 5 (Five) consecutive years
from the conclusion of the 36^th AGM held on September
27, 2022, till the conclusion of the 41^st AGM to be held in
the year 2027.

The Audit Committee reviews the independence and
objectivity of the Auditors and the effectiveness of the
Audit process. The Auditors will attend the Annual General
Meeting of the Company.

The Statutory Auditors have expressed an unmodified
opinion in their auditor's reports in respect of consolidated
financial statements and standalone financial statements.

COST AUDITORS

In pursuance of the provisions under Section 148 of the

Companies Act, 2013 read with the Companies (Cost
Records and Audit) Rules, 2014 (as amended), your
Company is required to maintain the cost records and the
said cost records are required to be audited. The Company
maintains all the aforesaid cost records.

M/s. GNV & Associates (Firm Registration No.: 000150), the
Cost Auditors of the Company, audited the cost records
of the Company for the financial year ended 2025-26.
There were no qualifications or adverse remarks in the
Cost Audit Report which require any explanation from the
Board of Directors.

The Board on the recommendations of the Audit
Committee, re-appointed M/s. GNV & Associates, Cost &
Management Accountants, to conduct the audit of cost
records for the financial year 2026-27. The remuneration
payable to the Cost Auditor for FY26 is subject to
ratification by the members at the ensuing AGM and the
same is included in Notice convening the 40^th AGM.

SECRETARIAL AUDITORS

In pursuance of the provisions under Section 204 of
the Companies Act, 2013 Rules with the Rule 9 of The
Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 and any other Rules made
thereunder and Regulation 24A of the Listing Regulations,
the Board of Directors has appointed, M/s JKS & Co. (Firm
Registration No.: P2015KR040800), Practicing Company
Secretaries, a Peer Reviewed Firm, has been appointed as
the Secretarial Auditor of the Company for a term of 5
(Five) consecutive years i.e., from the conclusion of the
39^th AGM held on September 29, 2025, till the conclusion
of the 44^th AGM to be held in the year 2029-30.

In pursuance of the provisions under Section 204 of
the Companies Act, 2013 read with the Rules made
thereunder and Regulation 24A of the SEBI Listing
Regulations, M/s JKS & Co. (Firm Registration No.:
P2015KR040800), Practicing Company Secretaries,
conducted the secretarial audit of the Company, and
its unlisted subsidiaries incorporated in India, for the
financial year 2025-26. The Secretarial Audit Report of
the Company and its unlisted material subsidiaries for
the financial year ended March 31, 2026, are attached
herewith, marked as Annexure II, Annexure IIA ,Annexure
IIB and Annexure IIC to this Report.

INTERNAL AUDITORS

In pursuance of the provisions under Section 138
of Companies Act 2013, your directors, on the
recommendations of the Audit Committee, have appointed
M/s. Grant Thornton Bharat LLP, as Internal Auditors for a
period of three (3) years effective from April 01, 2025, till
March 31, 2028.

13. AUDITORS QUALIFICATION, RESERVATION OR
ADVERSE REMARK OR DISCLAIMER

There was no qualification, reservation or adverse remark
or disclaimer from Statutory & Secretarial Auditors and
the comments given by the Statutory & Secretarial
Auditors in their respective Reports are self-explanatory
and hence, do not call for any further explanations or
comments from the Board.

The Statutory Auditors, Secretarial Auditor and Cost
Auditors have not reported any instance of fraud in
respect of the Company by its officers or employees
under Section 143(12) of the Companies Act, 2013

14. CONTRACTS AND ARRANGEMENTS WITH RELATED
PARTIES

We ensure that all transactions that are entered into
with related parties during the financial year meet the
criteria of an arm's length price basis. All contracts and
arrangements with related parties under Section 188(1)
of the Act, entered into by the Company during the
financial year, were approved by the Audit Committee
and wherever required, also by the Board of Directors.
The Related Party Transaction details including the
transaction(s) of the Company, if any, with a person/entity
belonging to the promoter/promoter group which hold(s)
more than 10% shareholding in the Company as required
in pursuance of para-A of Schedule V of the SEBI Listing
Regulations forms part of the notes to the financial
statements provided in this Annual Report.

The policy on dealing with Related Party
Transactions as approved by the Board can be
accessed at https://www.puravankara.com/uploads/
d969467c1a61e1ad84e3bccbf670b5f1 5b7a2c9646.
pdf

Please refer to the details in Annexure IIIA E-Form AOC-2.

15. FINANCIAL STATEMENTS

In pursuance of the provisions of Section 129(3) of the
Companies Act, 2013 and Regulation 33 and Regulation
34 of the SEBI Listing Regulations, the Standalone and
Consolidated Financial Statements of the Company,
prepared in accordance with the Indian Accounting
Standards (Ind AS) prescribed by the Institute of Chartered
Accountants of India (ICAI), forms part of this Annual
Report.

The financial statements are available for inspection
during business hours at the Registered Office of your
Company.

16. SUBSIDIARIES, JOINT VENTURES, AND ASSOCIATESSTATEMENT RELATING TO SUBSIDIARIES AND THEIR
FINANCIAL STATEMENTS

In pursuance of the provisions under Section 129(3) of the
Companies Act 2013 read with Rule 5 of the Companies
(Accounts) Rules, 2014, (as amended) a statement
containing the salient features of financial statements
of the Company's subsidiaries in E-Form No. AOC-1 is
attached to the financial statements of the Company and
forms part of this report as Annexure III

Your Directors hereby inform you that the audited annual
accounts and related information of the subsidiaries will
be available for inspection on any working day during
business hours at the registered office of the Company.

Further, in pursuance of the provisions of Section 136 of
the Act, the Standalone financial statements, consolidated
financial statements of the Company along with relevant
documents and separate audited financial statements in
respect of subsidiaries, are available on the Company's
website at:https://www.puravankara.com/investors/

SUBSIDIARIES

As on date, the Company has 30 (thirty) subsidiary
entities (including nine step-down subsidiaries in India and
2 subsidiaries in Sri Lanka), Provident Housing Limited
and Starworth Infrastructure & Construction Limited
are material unlisted Wholly Owned subsidiaries of the
Company as defined under the SEBI Listing Regulations.

Sobha Puravankara Aviation Private Limited ceased to be
an Associate Company and became a Subsidiary of the
Company with effect from February 18, 2025, pursuant
to the acquisition of Equity Shares by the Company from
other Shareholders. Subsequently, on February 05, 2026,
the Company acquired remaining Equity Shares of Sobha
Puravankara Aviation Private Limited, thereby increasing
its shareholding from 89.49% to 99.95%.

In pursuance of the provisions under regulation 24 of
the SEBI Listing Regulations the following Independent

Directors of the Company were appointed on the Board of
Directors of material unlisted wholly owned subsidiaries:

The link to access policy on material subsidiaries is:https://www.puravankara.com/backend/assets/uploads/investors reports/
dbc1e9da6f56363472b1140a77ce51c0.pdf

HIGHLIGHTS OF PERFORMANCE OF SUBSIDIARIES, ASSOCIATES AND JOINT VENTURE COMPANIES AND THEIR
CONTRIBUTION TO THE OVERALL PERFORMANCE OF THE COMPANY:

Apart from the above-mentioned entities, other wholly owned subsidiaries, subsidiaries, associates and joint venture companies do not
have any significant contribution towards the performance of Puravankara Limited.

Kindly refer to E-form AOC-1 for more details, which forms part of this report.

17. MATERIAL CHANGES AND COMMITMENTS

In pursuance of the provisions Section 134(3) of the Companies Act, 2013, no material changes and commitments which could
affect the Company's financial position occurred between the end of the financial year of the Company to which the Balance
Sheet relates and to the date of this Report and there has been no change in the nature of business of the Company.

18. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

Information in accordance with the provisions of Section 134 (3) (m) of the Companies Act, 2013, read with Rule 8 of the
Companies (Accounts) Rules, 2014, is as follows:

19. CORPORATE SOCIAL RESPONSIBILITY (CSR)

In pursuance of the provisions of Section 135 of the
Companies Act, 2013, read with the Companies (Corporate
Social Responsibility Policy) Rules, 2014 and Schedule VII
thereto, the Company has constituted a Corporate Social
Responsibility ("CSR") Committee and has adopted a CSR
Policy, which provides the framework for undertaking CSR
initiatives in a structured and sustainable manner.

The Company's CSR Policy is aimed at contributing to the
socio-economic development of communities through
focused interventions in areas such as environmental
sustainability, Promotion of education, healthcare, skill
development, art and culture, and other activities specified
under Schedule VII of the Companies Act, 2013.

During the financial year 2025-26, the Company was
not required to spend any amount under CSR head as
the Company did not meet the applicability threshold
prescribed under Section 135 of the Companies Act,
2013.

However, the unspent CSR amount of
? 50,72,396/- pertaining to the Previous Financial Year
earmarked for ongoing projects, was fully utilized during
the year towards the following approved CSR projects:

• Maintenance of Public Medians; and

• Water Conservation Initiative.

The Annual Report on CSR activities, containing the
particulars prescribed under the Companies (Corporate
Social Responsibility Policy) Rules, 2014, forms part of
this Board's Report as Annexure I

The Corporate and Social Responsibility Policy is
available on website of the Company at: https://www.
puravankaraTom/backend/assets/uploads/in vestors
re.ports/5365c3cn917dc3Rf4759R4e.R6Ra17d7n.pdf.

20. ANNUAL RETURN

In accordance with the provisions of the Companies Act,
2013, the annual return for the financial year 2025-26
in the prescribed format is available on the Company's
website i.e., https://www.puravankara.com/uploads/

Puravankara Annual Return 2025 26.pdf

21. PARTICULARS OF EMPLOYEES AND RELATED
DISCLOSURES

Disclosures pertaining to remuneration and other details
as required under Section 197(12) of the Act read with

Rule 5 of the Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014 are annexed as
Annexure V and forms part of this Report.

22. BUSINESS RESPONSIBILITY AND SUSTAINABILITY
REPORT

In pursuance of the provisions under Regulation 34(2)(f)
of the SEBI Listing Regulations and SEBI Master Circular
No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November
11, 2024, The Company is presenting the Business
Responsibility and Sustainability Report ("BRSR”) to the
stakeholders of the Company as part of this Annual
Report and available on the website of the Company at:
https://www.puravankara.com/investors/

23. CORPORATE GOVERNANCE

Your Company believes that strong corporate governance
is critical to enhancing and retaining the stakeholder's
trust. Your Company also endeavors to enhance long¬
term stakeholder value and practice good governance in
all its business decisions.

In Pursuance of the provisions under Regulation 34 read
with Schedule V of the SEBI Listing Regulations, a separate
section on Corporate Governance practices followed by
the Company and a certificate from Mr. Nagendra D Rao,
Practicing Company Secretary, regarding the compliance
of the conditions of Corporate Governance forms part of
this annual report.

24. MANAGEMENT DISCUSSION AND ANALYSIS

A report on Management Discussion and Analysis as
stipulated under Regulation 34 of the SEBI Listing
Regulations forms an integral part of this Annual Report.

25. CREDIT RATING

ICRA Limited vide its letter dated June 26, 2026, has
reviewed the Credit Rating for bank facilities and has
reaffirmed the long-term Rating at [ICRA] A- (Stable) and
short-term Rating at [ICRA] A2 .

26. INSIDER TRADING REGULATIONS

In accordance with the provisions under SEBI (Prohibition
of Insider Trading) Regulations 2015, the Company has in
place following policies/codes which are revised from time
to time according to applicable laws or as per need:

• The Code of Conduct to Regulate, Monitor and Report
trading by Designated Persons and their Immediate
Relatives;

• The Code of practices and procedures for fair
disclosure of Unpublished Price Sensitive Information
(UPSI); and

• The Policy on determination of legitimate purposes
for sharing unpublished price sensitive information
and on dealing with leakage or suspected leakage of
unpublished price sensitive information.

The aforesaid policies/codes are available on the website
of the Company at: https://www.purnvnnknrn.rnm/investnrs/

Further, the Company has put in place an adequate
and effective system of internal controls including
maintenance of a structured digital database (SDD)
and standard operating procedures (SOP) to ensure
compliance with the requirements of the PIT Regulations
to track the sharing of UPSI and prevent insider trading.

27. POLICIESVIGIL MECHANISM CUM WHISTLE BLOWER POLICY

In pursuance of the provisions under Section 177(9)
of the Companies Act 2013 read with Rule 7 of the
Companies (Meetings of Board and its Powers) Rules,
2014, as amended and Regulation 22 of SEBI Listing
Regulations, Vigil Mechanism has been established for
Directors and employees to report genuine concerns and
promote ethical behavior.

At Puravankara, we have a comprehensive whistle-blower
policy that allows and encourages the Directors and
Employees to bring to the management's notice genuine
grievances, illegal and suspected unethical behavior,
malpractice, wrongful conduct, suspected fraud or
violation of Company's Policies.

The policy is available on the website of the Company
at the linkhttps://www.puravankara.com/uploads/
WhistleBlower Policv.pdf

RISK MANAGEMENT POLICY

The Board of Directors of the Company has put in place
a Risk Management Policy which aims at enhancing
shareholders' value and providing an optimum risk-reward
tradeoff. The risk management approach is based on a clear
understanding of the variety of risks that the organization
faces, disciplined risk monitoring and measurement and
continuous risk assessment and mitigation measures.

The policy is available on the website of the Company at:
https://www.puravankara.com/uploads/Risk Management
Policy PL.pdf

NOMINATION AND REMUNERATION POLICY

In pursuance of Section 178(1) of the Companies Act
2013 and SEBI Listing Regulations, the Board, as per
the recommendation of the Nomination & Remuneration
Committee, has framed a Nomination & Remuneration
policy, providing: (a) criteria for determining qualifications,
positive attributes, and independence of Directors and (b)
a policy on remuneration for Directors, Key Managerial
Personnel, and other employees.

The detailed Remuneration policy may be accessed
on the following weblink of the Company's website at:
https://www.puravankara.com/uploads/Nomination and
Remuneration Policy PLf114c7c660.pdf

OTHER POLICIES

Other policies formulated in compliance with the
provisions of the Companies Act, 2013, the SEBI Listing
Regulations and other applicable laws are available on the
website of the Company at: https://www.puravankara.com/
investors/

28. INTERNAL COMPLAINT COMMITTEE UNDER
SEXUAL HARASSMENT OF WOMEN AT WORKPLACE
(PREVENTION, PROHIBITION AND REDRESSAL) ACT,
2013

The Company has zero tolerance for sexual harassment
at workplace and has adopted a policy on Prevention,
Prohibition and Redressal of Sexual Harassment at
Workplace in line with the provisions of the Sexual
Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 and the Rules made
thereunder for prevention and redressal of complaints of
sexual harassment at workplace.

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

Disclosure of the status of Complaints in pursuance of
Rule 8 of Companies (Accounts) Rules, 2014, during the
period under review, is as below:

29. DISCLOSURE UNDER THE REQUIREMENTS OF MATERNITY BENEFIT ACT, 1961

During the period under review, your Company has complied with the applicable provisions of the Maternity Benefit Act, 1961.
Status of Female employees who had availed the benefits under this Act is below:

30. STATEMENT SHOWING FOREIGN OWNERSHIP LIMITS

In pursuance of Rule 2(s) of the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, made under the Foreign
Exchange Management Act, 1999, below is the statement indicating the Board approved foreign ownership limits and the
limits utilized during the period under review:

31. OTHER DISCLOSURES

No disclosure or reporting is required in respect of the

following items as there were no transactions or the

same were not applicable during the period under review:

• Neither the Managing Director nor the Whole-Time
Directors of the Company received any remuneration
or commission from any of the subsidiaries of the
Company;

• No significant or material orders were passed by
the Regulators or Courts or Tribunals which would
impact the 'going concern' status of the Company'
and its future operations;

• There were no proceedings initiated/pending against
your Company under the Insolvency and Bankruptcy
Code, 2016;

• There were no instances where your Company
required the valuation for one time settlement or

while taking the loan from the Banks or Financial
institutions;

• There was no change in the nature of the business of
the Company.

• The Company has complied with the applicable
Secretarial Standards (SS) issued by the Institute of
Company Secretaries of India.

32. ACKNOWLEDGEMENTS

Your directors place on record their gratitude to the
Central Government, State Governments and Company's
Bankers and other lenders for the assistance, co¬
operation and encouragement. Your directors also wish to
place on record their sincere thanks and appreciation for
the continuing support and unstinting efforts of investors,
vendors, dealers, business associates and employees in
ensuring excellent all-around performance.

For and on behalf of the Board of Directors
of Puravankara LimitedAshish Ravi Puravankara Amanda Joy Puravankara

Date: August 14, 2026 Managing Director Whole Time Director

Place: Bengaluru DIN: 00504524 DIN: 07128042