Hubtown Ltd Management Discussions

GLOBAL ECONOMY

The global economy navigated a year marked by persistent geopolitical developments, evolving trade dynamics and fluctuations in commodity markets, all of which influenced investment sentiment and economic activity. Despite these headwinds, the global growth outlook remained resilient, supported by easing inflation in several major economies and a gradual stabilization of financial conditions.

INDIAN REAL ESTATE SECTOR

India continued to demonstrate strong economic resilience, reinforcing its position as one of the fastest-growing major economies. Robust domestic consumption, sustained public infrastructure spending, improving private investment and supportive government policies contributed to healthy economic momentum during the year. A stable inflation environment and prudent monetary measures further strengthened business confidence, while ongoing reforms and digital transformation enhanced the countrys long-term growth prospects. These macroeconomic fundamentals continue to provide a favourable environment for sectors such as real estate and infrastructure, supporting sustainable business growth and investment opportunities.

MUMBAI REAL ESTATE SECTOR

The Mumbai real estate sector in FY 2025-26 is characterized by record-high property registrations, an aggressive wave of urban redevelopment, and surging luxury housing demand. The Mumbai Metropolitan Region (MMR) continues to drive national sales values and state project approvals, reinforced by massive transit infrastructure expansions.

COMPANY OVERVIEW

Hubtown Limited ("Hubtown"), established in 1989, is a publicly listed real estate company and one of Indias trusted developers with a strong presence in the Mumbai Metropolitan Region (MMR). Since its inception, Hubtown has been committed to transforming the urban landscape by developing world-class residential, commercial, and mixed-use projects that combine quality, innovation, and sustainability.

The Companys diversified portfolio spans premium residential developments, built-to-suit office spaces, IT parks, and integrated township projects. With a strong focus on timely project delivery, customer-centricity, and modern infrastructure, Hubtown has earned the trust of generations of homeowners, investors, and business partners.

Over the years, Hubtown has demonstrated robust project execution capabilities and operational excellence. As of FY26, the Company has completed forty-seven (47) projects comprising over 12.76 million square feet of developed area. Its current portfolio includes approximately 41.52 million square feet of developable area including the proposed merger schemes undertaken by the Company, with a significant presence across the MMR region.

Building on its established presence, Hubtown continues to strengthen its footprint across Mumbai, Thane, the wider MMR, Pune, and Gujarat through strategic developments and redevelopment opportunities. Backed by a strong project pipeline, valuable land reserves, and a disciplined execution strategy, the Company remains well-positioned to capitalize on emerging market opportunities. Its focus on operational efficiency, prudent financial management, and sustainable value creation reinforces Hubtowns position as a leading participant in Indias evolving real estate sector.

Diversified Portfolio Across Value and Luxury Segments

Hubtown consists of a diversified portfolio that caters comprehensively to the value, luxury, and super luxury segments. The Company offers a wide range of properties across different price points, unit sizes, and sub-markets in Mumbai, Thane and MMR market, ensuring they meet diverse market demands.

The company also has limited presence in the Pune market, which is experiencing strong volume growth, and in select pockets in the state of Gujarat.

MARKETING & SALES STRATEGY

Hubtown excels in marketing and sales, engaging customers effectively throughout their lifecycle to create a strong network effect. As an established real estate brand in Mumbai, Thane and MMR Market, the Company enjoys high market visibility and customer loyalty.

ESTABLISHED REAL ESTATE BRAND IN MUMBAI, THANE AND MMR MARKET

Hubtown is a renowned real estate brand in Mumbai, Thane and MMR Market, known for its established presence and trusted reputation. The Company holds a leading market position, adept at selling properties during the construction phase, which ensures proactive market engagement and sustained growth in the competitive Mumbai, Thane and MMR real estate market.

FINANCIAL PERFORMANCE

In 2025-26, Hubtown Limited demonstrated robust financial growth. During the year under review, your Companys consolidated total revenue stood at _ 83,291 Lakhs as compared to _ 52,635 Lakhs for the previous year, representing an increase of 58.24%; Profit before tax stood at _ 18,835 Lakhs for the year under review as compared to profit of _ 9,652 Lakhs for the previous year representing an increase of 95.14%; and the total comprehensive income stood at _ 16,348 Lakhs as compared to _ 4,595 Lakhs for the previous year representing an increase 255.78%.

(_ in Lakhs)

KEY FINANCIAL RATIOS _STANDALONE_

RISK MANAGEMENT

Hubtown Limited acknowledges several inherent risks in its operations within the competitive real estate market of South-Central Mumbai. These risks include:

HUMAN RESOURCES

Hubtown Limited thrives on the strength of its competent and passionate employees who drive the Companys competitive edge. The organisation ensures its workforce is well-informed about shared goals, core values, and expected behaviors, recognising their crucial role in accelerating growth and transformation. Through a structured recruitment process, comprehensive training programs, and internal growth opportunities, Hubtown Limited fosters a cohesive environment where employees collaboratively work towards common objectives, developing functional, operational, and behavioural competencies to unlock their potential.

INTERNAL CONTROL SYSTEMS

Hubtown Limited has implemented an internal control system that is considered sufficient, effective, and efficient in mitigating fraudulent activities and irregularities in its operations. The Companys internal and statutory auditors conduct periodic evaluations to assess the effectiveness of these controls, which are reviewed by the Audit Committee. Based on the auditors findings, the Audit Committee advises Management on necessary corrective actions and adjustments that align with the Companys organisational requirements.

CAUTIONARY STATEMENT

The Management Discussion and Analysis report may include forward-looking statements detailing the Companys objectives, projections, estimates, and expectations, subject to relevant securities laws and regulations. Its important to note that actual results might substantially vary from both the expressed and implied statements. Several factors, such as economic conditions influencing demand/supply and pricing dynamics in domestic and international markets where the Company operates, changes in government regulations, tax laws, and other statutes, as well as unforeseen elements, could significantly impact the Companys operations.