Rodium Realty Ltd Management Discussions

I am pleased to present the Annual Report for FY 2025-26. I trust this message finds you and your families in the best of health and spirits.

Macroeconomic & Sector Outlook

Indias macroeconomic environment was a standout performer in FY 2025-26. Real GDP growth came in at ~7.6% for the year - the fastest pace among major global economies for a fourth consecutive year, with Q2 FY 2025-26 alone printing 8.2%, its highest quarterly reading in six quarters. This was accompanied by a historic disinflation: full-year average CPI inflation eased to roughly 2.1%, among the lowest readings since the current series began, dipping to as low as ~1.6% in July 2025. This gave the Reserve Bank of India room to complete a full easing cycle during the year, cutting the repo rate by a cumulative 125 basis points to 5.25% by December 2025, where it held through March 2026. Lower borrowing costs, benign inflation and resilient growth together created one of the most supportive macro backdrops for housing demand in recent years, even as the Rupee depreciated over 11% against the US Dollar and global trade and geopolitical uncertainty (including continued conflict in the Gulf region) remained a watch-point for input costs and investor sentiment.

Against this backdrop, the Indian real estate sector delivered another strong year, though with more differentiated performance across cities than in FY 2024-25. Residential sales across the top 8 cities crossed 1.71 lakh units in H1 FY 2025-26, while the top 7 cities alone saw sales of over 1.13 lakh units in the first quarter, up ~9% year-on-year. Premium and luxury housing continued to be the standout segment - nationally, homes priced above ?1 crore rose from roughly 59% of sales a year earlier to ~71% of the market, and the listed developer universe benefited disproportionately from this shift: 28 major listed real estate companies together clocked ~?1.95 lakh crore of pre-sales in FY 2025-26, up ~17% over FY 2024-25, with the top five players accounting for ~60% of the total. Industry commentary attributes this growth chiefly to price appreciation and continued launches in the luxury segment, alongside a clear trend of homebuyers consolidating around larger, well- capitalised, execution-proven developers - a trend we believe favours established regional players such as Rodium with a demonstrated redevelopment delivery track record. New project launches also remained buoyant through the year, reflecting sustained developer confidence, even as some markets (notably Delhi-NCR) saw a moderation in sales momentum. Overall, the sector enters FY 2026-27 on a solid footing, with sustained end-user demand, improving investor sentiment, and a widening quality gap between well-capitalised and smaller developers.

Mumbai Residential Market: Steady Leader in a Shifting Landscape (FY 2025-26)

Mumbais housing market proved to be one of the more resilient large markets in India through FY 2025-26, at a time when several other metros saw momentum cool. In H1 FY 2025-26, Mumbai recorded ~47,355 residential unit sales, holding roughly 28% share of all sales across the top 8 cities, even as growth moderated to a modest ~1% year-on-year - a clear sign the market is normalising off record post-pandemic highs rather than declining. New launches stayed buoyant, up ~8% year-on- year to ~49,161 units, reflecting continued developer confidence in the city. In sharp contrast, Delhi- NCR - one of Mumbais closest peers by market size - saw sales fall ~7% year-on-year to ~24,862 units over the same period, underscoring that Mumbai (together with Bengaluru and Pune) continued to anchor the bulk of national residential activity while other markets lost steam. Demand in Mumbai was increasingly concentrated at the high end: nationally, the ?20-50 crore ultra-luxury segment saw 57% of all such sales occur in Mumbai, and the city accounted for roughly two-thirds of all sales above ?50 crore, alongside continued healthy volumes in the sub-?1 crore affordable and mid-income segments. Stable-to-easing home loan rates, aided by the RBIs 125-basis-point rate-cutting cycle through the year, and new project launches in key suburbs kept momentum strong. Notably, Mumbais Western and Central suburbs continued to see the bulk of new supply and sales, as homebuyers showed preference for peripheral locations offering modern amenities and relatively better affordability than the city core. With average prices in several western-suburb micro-markets rising further to ?27,500 per sq ft, inventory overhang has reduced, signalling a healthy, balanced market.

Kandivali Micro-Market: In particular, the Kandivali belt (part of the western suburbs) remained one of the more actively transacted micro-markets in the western suburbs during FY 2025-26, and continues to be central to Rodiums own project pipeline. Kandivali caters to a broad spectrum - from budget-conscious buyers to premium segment customers - and this diversity continues to be reflected in local market performance. Residential property prices in Kandivali West have shown some intra- year volatility, moving from roughly ?27,100 per sq.ft. in September 2025 down to around ?25,100 per sq.ft. by March 2026 before recovering to ~?27,000 per sq.ft. by June 2026 - a pattern consistent with a market absorbing new supply rather than one in structural decline. This was supported by new infrastructure, including continued progress on Mumbai Metro Line 7, and sustained redevelopment activity in the belt. New premium developments in the area continue to command prices upwards of ?30,000 per sq.ft. - with some under-construction projects in Mahavir Nagar quoting ?32,000-38,000 per sq.ft.- underscoring the willingness of buyers to invest for quality and location. At the same time, the micro-market continues to offer affordable options (smaller units or older buildings) that attract first-time homebuyers, ensuring sustained transaction volumes. Improved connectivity (e.g. the Mumbai

Redevelopment in MMR: A New Institutional Push

Redevelopment remained at the forefront of Mumbai Metropolitan Region (MMR)s growth strategy in FY 2025-26, and the year saw the most significant institutional step yet in this space. Mumbais housing stock continues to age - over 50% of buildings are 30+ years old, many with structural dilapidation and outdated layouts - and redevelopment remains the principal route to renew this stock without expanding the citys footprint, giving existing residents safer, amenity-rich homes while giving developers access to prime urban land. During the year, the Maharashtra government constituted a dedicated Self-Redevelopment Authority (formed October 2025, chaired by a minister- rank appointee), backed by ?2,000 crore of funding under the states Housing Policy, to give housing societies end-to-end support - planning, funding, developer selection and execution - so they can redevelop independently of builders where they choose to. The government has also waived interest on premiums for self-redevelopment projects (through March 2026), offered subsidised loans to participating societies, and floated further relaxations such as an additional 10% carpet area for societies and a lower minimum project area threshold to qualify. CREDAI-MCHI estimates over 25,000 buildings across MMR are eligible for redevelopment, representing project value in excess of ?30,000 crore. For an established redevelopment specialist such as Rodium, this expands the addressable opportunity, even as it signals a more competitive, better-informed pool of societies evaluating both self-redevelopment and builder-led options.

Looking ahead, Indias real estate sector is projected to expand its output to USD 1.3 trillion by 2034, up from the current USD 650 billion. This growth is primarily driven by increased residential demand, alongside developments in commercial, retail, hospitality, and warehousing sectors, which are all responding to the needs of the growing population.

Keeping in mind the factors of redevelopment, Your Company continued to make strong progress on its redevelopment projects during the year, as set out below.

"XLine and XEnus projects, successfully completed by the Company in the previous year, continued to see customer handovers progress during FY 2025-26.

"XOne - Luxury Like None" in Kandivali has continued to strive to create comfortable yet affordable spaces for the families of the city. This project is nestled in the prime location of Kandivali (West), standing as a masterpiece of architectural ingenuity, a blend of luxury and practicality, where every detail has been meticulously crafted to exceed customers expectations. It is set against the backdrop of the serene Shankar Mandir and Jain Derasar. This project enjoys a unique blend of spiritual tranquillity and urban convenience. This is not just a home; its a statement of refined taste and aspirations.

XTrium - Phase II, on Andheri-Kurla Road, Andheri (East), continued under active construction during the year. Building on the success of XTrium Phase I, this expansion of the CRISIL 5-Star rated commercial development adds further floors and capacity, catering to the growing demands of dynamic businesses and events while maintaining the projects core essence of elegance and efficiency.

XHeights - World of Delight, Rodiums XHeights, an iconic 35-storey skyscraper that will encapsulate the epitome of modern living, moved into approvals and sanctions during the year. This Project is a Development Management Initiative undertaken by Rodium Realty Limited. XHeights features a blend of exquisite design and premium finishes, establishing itself as a true symbol of opulence. Every corner reflects meticulous attention to detail and an unwavering commitment to quality, promising a lifestyle that is as luxurious as it is comfortable. For those seeking a harmonious blend of luxury, comfort, and modernity, XHeights is set to be the ultimate destination.

Looking ahead, Your Companys redevelopment pipeline continues to grow, with three projects currently at the planning and approval stage.

XWorld, a new development management model initiative in Kandivali (West), is envisioned as a luxury residential offering combining premium residences, commercial offices and retail showrooms, designed for maximum space, light and ventilation. This Project is a Development Management Initiative undertaken by Rodium Realty Limited.

XMeadows, in Bhiwandi, is a joint development bringing smart, affordable housing to the region ? a master-planned community of fourteen-storey towers with open and semi-open spaces, panoramic vistas and modern recreational amenities, catering to the largest residential market in the country. This Project is a Development Management Initiative undertaken by Rodium Realty Limited.

We believe new and existing projects results into strong balance sheets and the projects are poised to grow faster, given the limited period of opportunity to contract projects at low costs and their pace of growth depends on the success of the existing projects (cash flows), ability to grow (balance sheets), intent (growth track records), execution skills and pricing flexibilities.

Key Opportunities

• Urbanization & Housing Demand:

Indias rapid urbanization trends continue to underpin long-term opportunity for residential real estate. The countrys urban population continues to swell (projected to exceed 40% of total population by 2030), adding millions of new city dwellers each year. This megatrend is especially relevant in Mumbai, which despite a moderation in headline sales growth in FY 2025-26 still commanded roughly 28% of all residential sales among Indias top 8 cities, remaining one of the two or three largest housing markets in the country. As more people migrate or form new households in the metro area, demand for housing across affordable, mid-income and premium segments remains structurally robust. Our company is well- positioned to tap into this growing urban housing requirement through strategic redevelopment projects in the city.

• Market Consolidation Towards Established Developers:

A notable trend through FY 2025-26 has been the continued consolidation of housing demand towards larger, well-capitalised and execution-proven developers, as homebuyers increasingly prioritise delivery certainty over price alone. Indias listed real estate developers as a group grew combined pre-sales by ~17% in FY 2025-26 to nearly ?1.95 lakh crore, with the top five players alone capturing ~60% of the total. While this trend has been most visible among the largest national players, it also reflects a broader re-rating of brand and track record in the eyes of buyers and housing societies alike - a dynamic that plays to the strength of an established, RERA-compliant developer with a multi-decade delivery history in Mumbais western suburbs. We see this as an opportunity to win a disproportionate share of both open-market sales and redevelopment mandates as societies and buyers become more selective.

• Evolving Work & Lifestyle Trends:

The post-pandemic shift toward hybrid work models has subtly reshaped housing preferences, which presents an opportunity. With an estimated 58% of Indian employees now preferring a mix of remote and office work, many homebuyers are seeking larger, flexible homes to accommodate home-office setups. This trend has bolstered demand for well-designed residential spaces in suburban markets like Kandivali, where buyers can get bigger apartments (with amenities like dedicated work nooks or study rooms) at relatively reasonable prices. Our focus on redevelopment (often yielding larger apartment sizes and modern layouts) aligns well with these evolving consumer needs, potentially driving higher absorption for our projects. Additionally, increased time spent at home has heightened the value placed on amenities and community infrastructure, which we integrate into our premium redevelopment offerings to attract discerning buyers.

• Policy Support & Self-Redevelopment Initiatives

The regulatory climate turned decisively more supportive of redevelopment activities during FY 2025-26. Building on the Maharashtra governments Housing Policy 2025, the state went a step further in October 2025 by constituting a dedicated Self-Redevelopment Authority, headed by a minister-rank appointee, to give housing societies end-to-end support for self- redevelopment - planning, funding, developer selection and execution [NOTE FOR

REVIEW: verify against BSE filings/Board records before finalisation.] A dedicated funding allocation of ?2,000 crore backs the Authority, and the state has separately waived interest on redevelopment premiums for self-redevelopment projects (through March 2026) and floated further relaxations under consideration, including an additional 10% carpet area for societies and a lower minimum project area threshold to qualify. Together, these measures are expected to expand the pipeline of viable redevelopment projects in MMR and bring more societies to a decision point sooner. As a specialist in society redevelopment with an established execution track record, the company is well placed to partner with housing societies - whether pursuing builder-led or self-redevelopment routes - thereby tapping a large latent market. CREDAI-MCHI estimates over 25,000 buildings in MMR are eligible for redevelopment (worth ~?30,000 crore in project value). This represents a vast opportunity in the coming years, supported by government incentives and rising homeowner awareness.

Key Risks & Challenges

• Regulatory Approvals & Delays

While policy support has improved, obtaining the myriad approvals for redevelopment projects in MMR can still be a protracted process. Projects often require clearances from multiple agencies (municipal corporations, environmental authorities, etc.), and any procedural inefficiency can delay project timelines. In older housing societies, securing requisite consent from cooperative members is another hurdle - disagreements over terms or developer selection can stall redevelopment starts. Despite a push for single-window systems, the clearance process remains complex; in fact, many societies have been hesitant to undertake redevelopment precisely due to the lengthy approval bureaucracy involved. For our company, such regulatory delays could impact project schedules and carrying costs. We mitigate this by diligent project planning, compliance, and stakeholder management, but this risk remains a factor that could affect revenue recognition and investor returns if not carefully managed.

• Funding & Liquidity Constraints

Real estate development is capital-intensive, and redevelopment projects in particular entail upfront costs (for land/society premiums, temporary tenant accommodations, construction) with cash inflows only coming after new sales. Financing challenges can thus pose a risk. Unlike the prior year, FY 2025-26 saw the RBI cut the repo rate by a cumulative 125 basis points to 5.25%, meaningfully easing the cost of debt for developers and, over time, for homebuyers as well. While this eases near-term pressure, the benefit is not evenly distributed - smaller and more highly leveraged developers with thinner project portfolios remain more exposed to any reversal in rate or credit conditions, and industry bodies such as CREDAI have flagged renewed pressure on project delivery timelines, seeking extended RERA deadlines in the face of cost and financing headwinds. While our company maintains prudent leverage and has access to diverse funding sources, a reversal in the rate-cutting cycle, tighter credit availability, or a sustained slowdown in pre-sales could still slow down project execution and growth plans. We continue to monitor macroeconomic factors (interest rate trends, lender sentiment) and maintain adequate capital buffers to navigate this risk.

• Construction Cost Pressures

Construction costs and margin pressure remained a live risk through FY 2025-26. Industry analysts estimate overall construction costs rising a further 3-5% into 2026, with luxury and high-rise projects - a segment increasingly relevant to Rodiums own pipeline - more exposed given their greater reliance on imported components and specialised materials. A new labour code that came into effect in late 2025 has, per industry commentary, intensified skilled- labour shortages in the sector, accelerating the push towards mechanisation and precast construction techniques as a partial offset. Margin compression has already shown up in listed peers results, with several established developers reporting narrower operating margins even as topline sales grew, underscoring that revenue growth alone is not a guarantee of profitability in the current cost environment. For redevelopment, where sale prices are often capped by local market dynamics, rising costs can erode viability more acutely than in open- market projects. Additionally, continued geopolitical tensions (including in the Gulf region) add a further layer of uncertainty to global supply chains and input costs. The company mitigates this risk through value engineering, bulk procurement arrangements, and contingency provisions in project budgets. Nonetheless, sustained construction and labour cost inflation remains a risk factor that we closely watch, as it could necessitate pricing adjustments or impact housing affordability in the price-sensitive segments we serve.

Outlook

Despite these challenges, the company remains confident in its strategic direction. We believe our focus on residential redevelopment in Mumbais key micro-markets - backed by strong market fundamentals and prudent risk management - will continue to deliver sustainable growth. The management is committed to navigating the above risks while capitalizing on emerging opportunities, thereby creating long-term value for our stakeholders in FY 2026-27 and beyond.

COMPLETED PROJECTS

XTrium ? Phase I

A symphony of elegance and class

Ergonomically designed spaces with world-class infrastructure housing commercial offices, banquet halls and residential hotels. Every floor is meticulously planned as an eco-techno environment ? commercial spaces that are also refreshing surrounds.

AT A GLANCE

Situated on Andheri-Kurla Road adjoining the Western Express Highway, XTrium Phase I is a CRISIL 5-Star rated commercial building offering office and banquet space close to Andheri railway station and the domestic and international airports, and remains actively leased to corporate occupiers.

Plot area	1,500 Sq.M.
Type	Commercial development
Location	Andher-Kurla Road, Andheri (East), Mumba
Category	Promoter propert
Completion	2010 CRISIL 5-Star rate

XCzar

Residences that will make you proud

Structurally grandiose and majestic, XCzar is a residential landmark in the quaint neighbourhood of J.VPD. ? a symbol of magnificence, setting high standards of living for its residents.

AT A GLANCE

A premium residential redevelopment in the Juhu Scheme completed in August 2015, XCzar has since traded actively in the resale and rental market, reflecting sustained demand for boutique residences in this established western-suburb pocket.

Plot area	763 Sq.M.
Type	Premium residence s
Location	Juhu Scheme, Mumbai
Category	Re-development buildiri g
Completion	August 2015

XPoint

Reside, relax, rejuvenate

A mix of retail spaces and residences designed to transcend occupant expectations. Arriving at the site, one is greeted by a truly elegant double-height lobby ? a place to come home to.

AT A GLANCE

Completed in May 2019 with Occupation Certificate received, XPoint comprises 78 units in 1, 2 and 3 BHK configurations (approx. 450-965 sq.ft.) with amenities including a gymnasium and landscaped areas, and has since seen active resale transactions in the Kandivali West micro-market.

Plot area	4,412 Sq.M.
Type	Residential and commercial
Location	Kandivali (West), Mumbai
Category	Re-development buildiri g
Completion	May 2019

XEnus

Where life resides

Not just an ordinary block-on-block building ? XEnus personifies the best of an affluent lifestyle, replete with unparalleled conveniences, from five-star luxuries and amenities to essential housing needs.

AT A GLANCE

A 21-storey single-tower redevelopment near LBS Marg in Matunga East, XEnus offers 1, 2 and 3 BHK homes (approx. 290-1,050 sq.ft.) with amenities including a gym, landscaped garden and 24x7 security, and reached completion in 2024.

Plot area	863.5 Sq.M.
Type	Luxury residence s
Location	Matunga (CR), Mumba
Category	Redevelopmen
Completion	2024

XLine

Redefining Kandivalis skyline

Following the success of XPoint, XLine is another iconic landmark redefining the skyline of Kandivali West ? thoughtfully designed homes with delightful amenities in the bustling western suburbs.

AT A GLANCE

A redevelopment in the Poisar pocket of Kandivali West offering 1 to 4 BHK residences alongside mid-segment commercial office space, with amenities including a skydeck, swimming pool and multipurpose hall, positioned close to Kandivali and Borivali railway stations.

Plot area	944 Sq.M.
Type	Mid-segment residences and commercial office s
Location	Kandivali (West), Mumbai
Category	Redevelopmen

ONGOING PROJECTS

3 projects

XOne

Luxury like none

Set against the backdrop of the serene Shankar Mandir and Jain Derasar, XOne blends spiritual tranquillity with urban convenience ? a statement of refined taste. During FY 2025-26 the project continued to progress, building on the Part Occupation Certificate already obtained.

AT A GLANCE

Developed by Fluid Realty LLP (a Rodium group entity), XOne is a single tower of G+17 floors offering 2 and 3 BHK premium residences alongside office and retail space, launched January 2024 with possession targeted for June 2027;

Plot area	2,668 Sq.M.
Type	Premium residences, commercial offices and showrooms
Location	Kandivali (West), Mumbai
Category	Redevelopmen

XTrium ? Phase II

Elegance and class, expanded

Building on the success of XTrium, this Phase II expansion of the CRISIL 5-Star rated commercial development adds further floors and capacity to cater to the growing demands of dynamic businesses and events, while maintaining the projects core essence of elegance and efficiency.

AT A GLANCE

The Phase II expansion of XTrium on the same Andheri- Kurla Road frontage, extending the CRISIL 5-Star rated commercial developments floor capacity to meet continuing demand for premium office space in this established Andheri East business corridor.

Plot area	1,500 Sq.M.
Type	Commercia
Location	Andher-Kurla Road, Andheri (East), Mumbai

XHeights

World of delight

An iconic 35-storey skyscraper encapsulating the epitome of modern living. XHeights moved from the planning stage into into approvals and sanctions during FY 2025-26, comprising two towers, following receipt of the requisite development agreements from the concerned societies. This Project is a Development Management Initiative undertaken by Rodium Realty Limited.

AT A GLANCE

Marketed under the internal codename Skyrise on Rodiums own project listings, XHeights is positioned in the . heart of Kandivali West close to Kandivali railway station, ? planned with sea-facing upper floors and a full amenity suite I including a swimming pool and landscaped deck, consistent

1" with the tail-tower developments now characteristic of this stretch of S. V. Road.

Plot area	2,700 Sq.M.
Type	Luxurious housin g
Location	Kandivali, Mumbai
Category	Residentia

UPCOMING PROJECTS

3 projects

The next phase of Rodiums redevelopment pipeline ? projects moving through approval stages, reinforcing the Companys focus on Mumbais key western-suburb micro-markets and the wider MMR region.

XMeadows

Smart homes for smart living

Designed with a master plan incorporating open and semi-open spaces that weave in the elements of nature. Fourteen-storey towers, panoramic vistas and airy homes, with all modern and recreational amenities, in the largest residential market in the country. This Project is a Development Management Initiative undertaken by Rodium Realty Limited.

AT A GLANCE

A joint-development township-scale project in Bhiwandi, part of the Mumbai Metropolitan Regions fastest-growing affordable-housing corridor, planned with multiple 14- storey residential towers, a clubhouse, swimming pool and landscaped gardens, and retail showrooms at the podium level.

Plot area	11,940 Sq.M.
Type	Affordable housing and retail showroom
Location	Bhiwandi, MMR Region
Category	Joint development

XWorld

A new address in Kandivali

A new redevelopment initiative in Kandivali (West), envisioned as a luxury residential offering designed for maximum space, light and ventilation.

AT A GLANCE

A large-format redevelopment on a 14,370 sq.m. plot in Kandivali West, envisaged as a high-rise mixed-use landmark combining premium residences, commercial offices and retail showrooms ? among the larger sites in Rodiums announced pipeline.

Plot area	14,370 Sq.M.
Type	Premium residences, commercial offices and retail showroom

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY:

Rodium Realty Limited has a well-established internal control system to manage business operations, financial reporting and other compliance needs. The business performance vis-a-vis plan is monitored periodically, and regular internal audits are performed to ensure sustenance of the internal control systems.

The Company has a robust and well embedded Internal Control systems in place, adequate for the size of the Company and the nature of its business. The Primary function of our internal control systems is to ensure efficiency in business operations, safeguarding of Companys assets, adherence to policies and procedures, protecting and detecting errors and frauds, compliance with applicable laws and ensuring the reliability of financial statements and reporting. This provided assurances to the Audit Committee regarding the adequacy and efficacy of internal controls, advises management on the changing risks that matter and is aligned with the business objectives.

Progress to plan and key findings are reviewed by the Audit Committee each quarter. Further, the Audit Committee also monitors the status of management actions following the internal audit reviews.

RISKS AND CONCERN:

• Statutory Approvals:

The real estate sector in India is heavily regulated by the central, state and local governments. Real estate developers are required to comply with a number of laws and regulations, including policies and procedures established and implemented by local authorities in relation to land acquisition, transfer of property, registration and use of land. These laws often vary from state to state. Several of your Companys projects are in preliminary stages of planning and any delay in obtaining approvals could warrant revised scheduling of project timelines.

• Industry Cyclicality

The real estate market is inherently a cyclical market and is affected by macroeconomic conditions, changes in applicable governmental schemes, changes in supply and demand for projects, availability of consumer financing and illiquidity. However, any future significant downturn in the industry and the overall investment climate may adversely impact business.

• Climate Change-

The sector is already experiencing shifts due to climate change, the intensity of which is expected to increase over the coming years. The challenges or risks can be broadly classified into two categories, physical and transitional. The former is on account of acute and chronic physical effects of climate change such as damage to infrastructure at construction sites or building projects, damages to logistics routes, reduced efficiency of workforce due to heatwaves, etc.

Several management and leadership team members including Board of Directors periodically review the risk management policies and systems to incorporate any changes in the risk profile due to changes in the external environment and strategic priorities. The Board of Directors and the Audit Committee of the Manager is assisted by internal audit team in monitoring the risk profile and effectiveness of mitigation plans to manage the identified business risks. The major risks identified by the businesses and functions are systematically addressed through mitigating actions on a continuing basis.

DISCUSSION ON FINANCIAL PERFORMANCE:

The financial overview comprises of revenue primarily from sale of completed property and proportionate revenue of property under development.

Standalone Financial Results of Rodium Realty Limited

(Rs. In Lakhs)

Particulars	FY 2025-2026	FY 2024-2025
INCOME AND GAINS
Revenue from operations	1,881.25	1,003.71
Other Income	580.47	322.64
Total Income	2,461.72	1,326.35
Cost of Construction & Development	999.42	286.61
Cost of Finished Units	0.00	0.00
Changes in inventories of Finished Goods, Stock -in- trade and Work -in- progress	(55.22)	(143.35)
Employee Benefit Expenses	58.25	55.95
Finance Costs	203.68	281.31
Depreciation and Amortisation expense	3.76	8.08
Other Expenses	521.50	529.11
Total Expense	1,731.39	1,017.72
Profit/ (Loss) Before Tax	730.32	308.63
-Deferred Tax	101.26	31.24
-Earlier year adjustments	0.00	(0.65)
Total Tax Expense	101.26	30.59
Profit/ (Loss) For the Year	629.06	278.04
Items that will not be reclassified to profit and loss
-Remeasurement of defined benefit plans	5.30	0.12
-Income tax relating to items that will not be reclassified to Profit or Loss	(1.33)	(0.03)
Total Other Comprehensive Income for the year, Net of Tax	3.97	0.09
Total Other Comprehensive Income/ (Loss) for the year	633.02	278.13

These Separate financial statements (also known as Standalone Financial Statements) have been prepared in accordance with IND AS as prescribed under Section 133 of the Companies Act, 2013 read with Rule 3 of the Companies (Indian Accounting Standards) Rules, 2015 and subsequent amendments thereto.

Consolidated Financial Results of Rodium Realty Limited

(Rs. In Lakhs)

Particulars	FY 2025-2026	FY 2024-2025
INCOME AND GAINS
Revenue from operations	7,018.60	6,155.54
Other Income	193.72	109.21
Total Income	7,212.32	6,264.75
EXPENSE AND LOSSES
Cost of Construction & Development	5476.81	4,666.86
Cost of Finished Units	0.00	0.00
Changes in inventories of Finished Goods, Stock -in- trade and Work -in- progress	(442.53)	(51.05)
Employee Benefit Expenses	143.53	145.80
Finance Costs	205.18	291.67
Depreciation and Amortisation expense	39.36	42.26
Other Expenses	580.18	577.16
Total Expense	6,002.54	5,672.70
Profit/ (Loss) Before Tax	1209.78	592.05
TAX EXPENSE
-Current Tax	279.06	346.00
-Deferred Tax	100.81	(137.95)
-Earlier year adjustments	0.00	39.93
Total Tax Expense	379.87	247.98
Profit/ (Loss) For the Year	829.91	344.07
OTHER COMPREHENSIVE INCOME Items that will not be reclassified to profit and loss
-Remeasurement of defined benefit plans	5.30	0.12
-Income tax relating to items that will not be reclassified to Profit or Loss	(1.33)	(0.03)
Total Other Comprehensive Income for the year, Net of Tax	3.97	0.09
Total Other Comprehensive Income/ (Loss) for the year	833.89	344.16

The consolidated financial statements comprise the financial statements of the Holding Company and its subsidiaries as at 31 March 2026. Control is achieved when the Group is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if and only if the Group has:

• Power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee)

• Exposure, or rights, to variable returns from its involvement with the investee, and

• The ability to use its power over the investee to affect its returns

Generally, there is a presumption that a majority of voting rights result in control. To support this presumption and when the Group has less than a majority of the voting or similar rights of an investee, the Group considers all relevant facts and circumstances in assessing whether it has power over an investee, including:

• The contractual arrangement with the other vote holders of the investee

• Rights arising from other contractual arrangements

• The Groups voting rights and potential voting rights

• The size of the groups holding of voting rights relative to the size and dispersion of the holdings of the other voting rights holders

The Group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control. Consolidation of a subsidiary begins when the Group obtains control over the subsidiary and ceases when the Group loses control of the subsidiary. Assets, liabilities, income and expenses of a subsidiary acquired or disposed of during the year are included in the consolidated financial statements from the date the Group gains control until the date the Group ceases to control the subsidiary.

Consolidated financial statements are prepared using uniform accounting policies for like transactions and other events in similar circumstances. If a member of the group uses accounting policies other than those adopted in the consolidated financial statements for like transactions and events in similar circumstances, appropriate adjustments, if material, are made to that group members financial statements in preparing the consolidated financial statements to ensure conformity with the groups accounting policies.

The financial statements of all entities used for the purpose of consolidation are drawn up to same reporting date as that of the Holding Company, i.e., year ended on 31 March.

DETAILS OF SIGNIFICANT CHANGES IN KEY FINANCIAL RATIOS & RETURN ON NET WORTH:

Particulars	FY 2025-2026	FY 2024-2025	% Change	Remarks for variance more than 25%
Debtors Turnover	1.47	0.90	63.17	Increased due to higher revenue.
Inventory Turnover	0.45	0.24	83.00	Increased due to higher sales
Debt Service Coverage Ratio	0.13	0.09	46.16	Increased due to higher earnings available for servicing debt obligations.
Current Ratio	1.16	1.13	2.55	Not applicable
Debt Equity Ratio	3.10	3.99	-22.25	Not applicable
Net capital turnover Ratio	1.44	1.06	35.92	Increased due to higher revenue generated from the working capital employed.
Net Profit Ratio	0.33	0.28	20.71	Not applicable
Return on Capital employed	0.41	0.35	14.74	Not applicable
Return on Investment.	0.00	0.39	-100	Decrease in Investment Income

DISCLOSURE OF ACCOUNTING TREATMENT:

Your Company has followed all the relevant Accounting Standards while preparing the financial statements. The Financial Statements have been prepared on historical cost basis considering the applicable provisions of Companies Act 2013 except the following material items that have been measured at fair value as required by relevant Ind AS. Nevertheless, historical cost is generally based at the fair value of the consideration given in exchange for goods and services.

DISCLAIMER:

The Company shall be registering its forthcoming projects at an appropriate time in the applicable jurisdictions / States under the Real Estate (Regulation and Development) Act, 2016 (RERA) and Rules thereunder. Till such time, the forthcoming projects, none of the images, material, projections, details, descriptions and other information that are mentioned in the Annual Report for the FY 2025- 2026, should be deemed to be or constitute advertisements, solicitations, marketing, offer for sale, invitation to offer, or invitation to acquire within the purview of the RERA.

The Company uses carpet areas as per RERA in its customer communication. However, the data in saleable area terms has been presented in the Annual Report for the FY 2025-2026 to enable continuity of information to investors and shall not be construed to be of any relevance to home buyers /customers.