Q3FY24 Operating Highlights

Other industry tailwinds ✓ Consolidating supply unlikely to keep pace with accelerating demand, creating lot of opportunities for Tier-1 developers O 。 Assuming 15% supply CAGR, total production during decade to be 8-9 million units vs. demand of ~100 million units ○ Consolidation wave due to policy reforms, liquidity crisis and Covid disruption led to: ☐ ☐ 60% reduction in developer count Market share gains for listed developers – from 6% in FY17 to 17% in FY22 ✓ Mortgage an enabler of demand, not an inducer of demand O Conservative Central Bank, allows only plain vanilla mortgage product – LTV <75% & no teaser rates - A floating rate product; rate cycle well understood by homebuyers – Interest rate change modifies tenure, not EMI ✓ Construction cost inflation not a risk to margin O Construction costs typically forms only 25% to 45% of sales price - of which one-third related to labor which faces low risk of inflation 。 Commodity inflation generally of short cycle - 3 years of construction provide flexibility to manage costs across project lifecycle LODHA BUILDING A BETTER LIFE 14

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