i) During the year ended March 31, 2024, the Company had issued 142,494,326 bonus Compulsory Convertible Preference Shares (CCPS) in accordance with Section 63 of the Act, in the ratio of 2.6 : 1 to all equity share holders with face value of H 10 each on March 30, 2024. During the year ended March 31, 2025, the Company converted all the CCPS of face value of H 10 each into 35,623,582 Equity Shares having a face value of H 10 each in the ratio of 4:1.

ii) During the year ended March 31, 2025, the Company issued 5,301,809 Equity Shares having a face value of H 10 per share on a rights basis to the existing Equity Shareholder of the Company, Embassy Buildcon LLP at a premium of H 935.49 per Equity Share, aggregating to H 5,012.81 million.

iii) During the year ended March 31, 2025, the Company has allotted 38,292,358 Bonus Equity Shares having a face value of H 10 per share in accordance with Section 63 of the Act to all the existing Equity Shareholder of the Company in the ratio of 4 bonus equity shares for every 10 equity shares held.

(b) The rights, preferences and restrictions attached to equity shares

The Company has only one class of equity share having par value of H 10 per share. Each holder of the equity shares, as reflected in the records of the Company as of the date of the shareholders meeting, is entitled to one vote in respect of each share held for all matters submitted to vote in the shareholders meeting. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the Company after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.

(c) Shares issued as bonus, shares issued for consideration other than cash and shares bought back during the

period of five years preceding the reporting date

i) The Company has not made any buy back of shares for the period of 5 years immediately preceding the balance sheet date.

ii) During the year ended March 31, 2022, the Company had issued 52,795,510 equity shares of H 10 each for consideration other than cash towards conversion of Compulsorily Convertible Debentures (CCDs)

iii) During the year ended March 31, 2024, the Company had issued 142,494,326 bonus Compulsory Convertible Preference Shares (CCPSs) in the ratio of 2.6 : 1 to all equity share holders.

iv) During the year ended March 31, 2025, the Company converted 142,494,326 Compulsory Convertible Preference Shares of face value of H 10 each into 35,623,582 Equity Shares having a face value of H 10 each for consideration other than cash.

i) On March 30, 2024, the Company has issued Class A Compulsorily convertible preference shares (CCPS) in accordance with Section 63 of the Act in the ratio of 2.60 :1 to all equity share holders with face of H 10 each. On November 28, 2024 the Company has converted 142,494,326 Compulsory Convertible Preference Shares of face value of H 10 each into 35,623,582 Equity Shares having a face value of H 10 each in the ratio of 4:1.

ii) Interest rate - 0.001%

iii) Terms / rights attached to CCPS

a) The Class A CCPS shall be participating preference shares and the holders or the Class A CCPS shall be entitled to participate in any dividend distribution, on a fully diluted basis. The Class A CCPS shall carry a non-cumulative dividend rate of 0.001% per annum of the face value of title Class A CCPS. The dividend shall be declared/payable at par with the equity shares of the Company, on a fully diluted basis. The dividend shall be due only when declared by the Board. Each Class A CCPS shall have a face value of H 10 (1ndian Rupees Ten only).

b) The number of equity shares of the Company to be issued to the holders of the Class A CCPS upon conversion shall be in the following ratio: 4 Class A CCPS : 1 equity share (i.e., for every 4 Class A CCPS held in the Company, 1 fully paid-up equity share to be issued in the Company). At any time after expiry of 6 (six) months from the date of allotment of Class A CCPS, in order to effect a conversion, the holders of the Class A CCPS shall give a written notice to the Company (""Class A CCPS Conversion Notice"") of its intention to convert the Class A CCPS.

c) Each Class A CCPS shall carry 1 (one) vote.

d) The Class A CCPS constitute direct, general and unconditional obligations of the Company which rank pari passu among themselves and at all times rank at least pari passu with all other future unsecured obligations of the Company, except for those obligations as may be preferred by law. On the occurrence of a liquidation event with respect to the Company, the Class A CCPS shall rank pari passu with the equity shares of the Company and the shares of any other class or series, on a fully diluted basis, and no preference shall be given to the Class A CCPS holders.

^AOther comprehensive income comprises of gain/(loss) on remeasurements of defined benefit liability (net) of H (5.81) million for the year ended March 31,

2026 (March 31, 2025: H (7.82) million). The accumulated balance of re-measurements (loss)/gain of defined benefit plans for the year ended March 31, 2026

amounts to H (4.30) million (March 31, 2025: H1.51 million).

Pursuant to the requirements of Division II to Schedule III, below is the nature and purpose of each reserve:

i. Securities premium - Amounts received (on issue of shares) in excess of the par value has been classified as securities premium. The reserve can be utilized in accordance with the provision of Section 52(2) of Companies Act, 2013.

ii. Share Application money pending for allotment - Share Application money pending for allotment represents the amounts received on exercise of stock options by the eligible employees under the prevailing ESOP schemes of the Company, on which allotment is yet to be made.

iii. Share based payment reserve - The share based payment reserve is used to recognise the grant date fair value of options issued to employees under Employee stock option plan.

iv. Retained earnings - Retained earnings are the profits/(loss) that the Company has earned/incurred till date, less any transfers to general reserve, dividends or other distributions paid to shareholders. Retained earnings include re-measurement loss / (gain) on defined benefit plans, net of taxes that will not be reclassified to Statement of Profit and Loss.

(b) The Company has not earned net profit in three immediately preceding financial years, therefore, there was no amount as per Section 135 of the Act which was required to be spent on CSR activities by the company.

39 Note on Exceptional item:

(a) On November 21 , 2025, the Government of India has notified four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020 ("Labour Codes"), which consolidate twentynine existing labour laws. The Ministry of Labour and Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Company has assessed the financial implications of these changes which has resulted in estimated one time increase in provision for employee benefits of the Company amounting to H 42.94 million and the same has been recognized as an exceptional item in the standalone financial statements for the year ended March 31, 2026. The Government of India is in the process of notifying related rules to the Labour Codes and impact of these will be evaluated and accounted for in accordance with applicable accounting standards in the period in which they are notified.

(b) During the year ended March 31, 2025, the Company had prepaid outstanding Non-Convertible Debentures before the term of the Debentures. On prepayment of Debentures, the differential value between the books and the amount prepaid amounting to H 459.06 million was accounted through the statement of profit and loss. The Company had considered such expense as exceptional item and disclosed separately in the standalone financial statements.

40 Earnings/(Loss) per share

Basic EPS amounts are calculated by dividing the profit/(loss) for the year attributable to equity holders by the weighted average number of equity shares outstanding during the year.

Diluted EPS amounts are calculated by dividing the profit/(loss) attributable to equity holders (after adjusting for savings in interest and dividend expenses, net of taxes) by the weighted average number of equity shares outstanding during the year plus the weighted average number of equity shares that would be issued on conversion of all the dilutive potential equity shares into equity shares.

i. All transactions with related parties are made on terms equivalent to those that prevail in arm's length transactions and within the ordinary course of business.

ii. All transactions with the related parties are in compliance with section 177 and 188 of Companies Act, 2013 where applicable and the details have been disclosed above, as required by the applicable accounting standards.

iii. Outstanding balances at the year-end, arising from transactions with related parties under ordinary course of the business, are unsecured and settlement occurs in cheque/ RTGS as per agreed terms.

iv. The management has not recorded any provision/ write-off of receivables relating to amounts owed by related parties.

v. Refer note 16 for terms of the Inter corporate deposits given to related parties.

vi. There have been no guarantees provided or received for any related party receivables or payables, other than those disclosed above.

vii. The Company had entered into a collaboration agreement with MyHQ Anarock Private Limited (formerly know as Upflex Anarock India Private Limited), an associate of the Company. As per the agreement, MyHQ Anarock Private Limited shall transfer 70% of its revenue from On-demand and Virtual office services pertaining to WeWork premises (85% in case of renewals relating to Virtual office) and balance is retained by MyHQ Anarock Private Limited for providing access to users for booking through its platform. Accordingly revenue amounting to H 303.06 million (March 31, 2025: 233.88 million) has been transferred from MyHQ Anarock Private Limited to the Company during the year.

viii. During the year ended March 31, 2026, the Company and WeWork Workplace LLC have entered on agreement, towards exclusive sale of Workplace products, i.e., Yardi workplace management software platform, wherein WeWork Workplace LLC will bill the Company 75% of license fee billed to the customers as management fee. The Company has accounted for the payable towards such subscription fees as provision amounting to H 48.21 million pursuant to the agreement.

(a) The Company is party to certain litigation matters pertaining to its lease arrangements with the lessors for nonpayment of rentals, which the Company has denied, citing the lockdown due to COVID-19 pandemic pursuant to current contractual agreement with such lessors. Pending the ultimate outcome of the aforesaid litigations, based on Management's best estimate, provisions if any, have been made for such claims received during the period/year without prejudice to its legal position. The Company has disclosed the estimated interest on such claims as contingent liability, as applicable. Based on management assessment and legal advice, Management believes that there are reasonable grounds to succeed in the above legal matter and no further adjustments are required to be made in the standalone financial statements.

Further till the date of signing of the standalone financial statements, the Company and Securities and Exchange Board of India (SEBI) have received complaints from such lessors, alleging non-disclosure of the litigation matter in the Draft Red Herring Prospectus filed by the Company. The Management of the Company have considered and analysed the communications and concluded that such allegations are baseless and frivolous and there is no impact on the standalone financial statements. The Company will continue to monitor developments to identify significant uncertainties and changes in estimates, if any, in future periods.

(b) (i) The Company has received order from the office of the Deputy Commissioner of CGST and Central excise

Division IV Mumbai (East) for the FY 2017-18 dated November 29, 2023, towards availment of blocked and ineligible credits and non payment of interest on short payments and the total value of tax, interest and penalty demand is amounting to H 19.30 million. The Company has filed an appeal before Additional Commissioner (Appeals-II), Mumbai on March 05, 2024 and the hearing is awaited. Basis internal assessment, management believes that the Company has a strong case against the claim and hence no provision has been recorded in the books of accounts and a contingent liability of H19.30 million (March 31, 2025 : H19.30 million) is disclosed.

(b) (ii) The Company has received order from the office of the Deputy Commissioner of Commercial Taxes (Audit) for the FY 2018-19 dated April 30, 2024, towards availment of blocked and ineligible credits on Inputs and Input services and the total value of tax, interest and penalty demand is amounting to H 5.95 million. The Company has filed an appeal dated July 29, 2024 against the order. The Company has further received an order from the office of Joint Commissioner of Commercial Taxes dated August 28, 2025 and is in the process of filing the Tribunal appeal once the same is constituted. Basis internal assessment, management believes that the Company has a strong case against the claim and hence no provision has been recorded in the books of accounts and a contingent liability of H 5.95 million (March 31, 2025 : 5.95 million) is disclosed.

(b) (iii) The Company has received order from the office of the Deputy Commissioner of Commercial Taxes (Audit) for the FY 2019-20 dated July 29, 2024, towards availment of blocked and ineligible credits on Inputs and Input services and the total value of tax, interest and penalty demand is amounting to H 2.61 million. The Company (Appeals-1), Bengaluru has filed appeal dated October 28, 2024 against the order. The Company has further received an order from the office of Joint Commissioner of Commercial Taxes dated December 12, 2025 and in the process of filing the Tribunal appeal once the same is constituted. Basis internal assessment, management believes that the Company has a strong case against the claim and hence no provision has been recorded in the books of accounts and a contingent liability of H 2.61 million (March 31, 2025 : 2.61 million) is disclosed.

(b) (iv) The Company has received order from the office of the Deputy Commissioner of Division - IV, CGST & CX, Mumbai East Commissionerate, for the FY 2018-19 to FY 2020-21 dated April 23, 2024, towards short payment of tax on account of mismatch in GSTR-3B and GSTR-9 & non-payment of interest on account of delay in payment of tax and the total value of tax, interest and penalty demand is amounting to H 7.02 million. The Company has filed appeal dated July 24, 2024 against the order and hearing is awaited. Basis internal assessment, management believes that the Company has a strong case against the claim and hence no provision has been recorded in the books of accounts and a contingent liability of H 7.02 million (March 31, 2025 : 7.02 million) is disclosed.

(b) (v) The Company has received order from the Office Of Deputy Commissioner Of State Tax (SGST), Gurugram for

the FY 2019-20 dated August 29, 2024 towards difference between tax liability declared in GSTR-1 vs tax paid through form GSTR-3B, excess availment of input tax credit in form GSTR-3B than input tax credit, difference in tax payable as per table 9R of GSTR-9C and other matters and the total value of tax liability, interest and penalty demand is amounting to H 134.62 million. The Company has filed an appeal dated November 29, 2024 against the order and hearing is awaited. Basis internal assessment, management believes that the Company has a strong case against the claim and hence no provision has been recorded in the books of accounts and a contingent liability of H 134.62 million (March 31, 2025: 134.62 million) is disclosed.

(b) (vi) The Company has received order from the office of the Deputy Commissioner of Commercial Taxes, Bengaluru for the FY 2017-18 dated October 9, 2024, towards availment of blocked and ineligible credits and the total value of tax and penalty demand is amounting to H 2.01 million. The Company has filed an appeal dated January 8, 2025 against the order. The hearing has been attended, and the Company is awaiting the final order. Basis internal assessment, management believes that the Company has a strong case against the claim and hence no provision has been recorded in the books of accounts and a contingent liability of H 2.01 million (March 31, 2025 : 2.01 million) is disclosed.

(b) (vii) The Company has received order from the Joint Commissioner, Central Goods and Services Tax (CGST), Commissionerate (Noida) for the FY 2021-22 and FY 2022-23 dated December 15, 2025. The order is issued confirming the demand on account ineligible Input tax credit availed for FY 2021-22 and unreconciled Input tax credit for FY 2022-23 alleging contraventions of the provisions of CGST Act, 2017 / Uttar Pradesh Goods and Service Tax Act, 2017 amounting to H153.85 million. The Company has filed an appeal dated March 6, 2026 against the order. Based on internal assessment, management believes that the Company has a strong case against the claim and accordingly has recognised an amount of H116.52 million (net) as contingent liability.

(b) (viii) The Company has received Order in Original dated March 27, 2026 from Office of the Principal Commissioner, Central Goods and Services Tax, Gurugram for the period April 2019 to March 2023 towards Excess availment and utilization of Input Tax Credit (ITC) in GSTR-3B as compared to the ITC available in GSTR-2A/2B and ineligible Input tax credit ('ITC') availed and other related matters alleging contraventions of the provisions of CGST/HGST Act, 2017 amounting to H 271.49 million. The Company is in the process of filing an appeal with Commissioner (Appeals), CGST Gurugram, within the prescribed timelines. Based on internal assessment, management believes that the Company has a strong case against the claim and hence no provision has been recorded in the books of accounts and a contingent liability of H 271.49 million (tax and penalty) is disclosed.

44 Leases

Company as a lessor:

A Operating leases

WeWork India Management Limited (formerly known as WeWork India Management Private Limited) is primarily engaged in the business of managed workspace provider and provision for allied services which includes leasing of office space. The Company leases out its Office premises on operating lease basis.

Rental income from non-cancellable leases is recognized on a straight line basis over the term of the relevant lease. For more details on accounting as a lessor, refer note 3(h).

Company as a lessee:

Leases

The Company has several lease contracts that include Cancellable and Non Cancellable options. These options are negotiated by management to provide flexibility in managing the leased-asset portfolio and align with the Company's business needs. Management exercises significant judgement in determining whether these Cancellable and Non Cancellable options are reasonably certain to be exercised.

Set out below are the undiscounted potential future rental payments relating to periods following the exercise date of Cancellable and Non Cancellable options.

45 Employee benefit plan

(A) Defined contribution plans

The Company makes contributions, determined as a specified percentage of employee salaries, in respect of qualifying employees towards provident fund, which is a defined contribution plan. The Company has no obligations other than to make the specified contributions. The contributions are charged to the statement of profit and loss. The amount recognized as expense towards contribution to provident fund for the year ended March 31, 2026 aggregates to H 23.60 million (March 31, 2025: H 21.87 million).

(B) Defined benefit plans

The Company has a defined benefit gratuity plan for its employees. Under this plan, every employee who has completed at least five years of service gets a gratuity on departure at 15 days of last drawn salary for each completed year of service. The plan is funded by the Company. Gratuity is thus paid to the employees on separation in accordance with the provisions of Payment of Gratuity Act, 1972.

The following tables summarize the components of net benefit expense recognized in the statement of profit and loss and amounts recognized in the balance sheet.

The estimates of future salary increases, considered actuarial valuation, takes into account inflation, seniority, promotion and other relevant factors such as supply and demand factors in the employment market. The sensitivity analysis presented above may not be representative of the actual change in the defined benefit obligation as it is unlikely that the change in assumptions would occur in isolation of one another as some of the assumptions may be correlated. Furthermore, in presenting the above sensitivity analysis, the present value of the defined benefit obligation has been calculated using the projected unit credit method at the end of the reporting year which is the same as that applied in calculating the defined benefit obligation liability recognised in the standalone balance sheet.

f) Risk exposure:

Through its defined benefit plans, the Company is exposed to a number of risks, the most significant of which is detailed below:

Interest Rate risk:

The plan exposes the Company to the risk of fall in interest rates. A fall in interest rates will result in an increase in the ultimate cost of providing the above benefit and will thus result in an increase in the value of the liability (as shown in financial statements).

Liquidity Risk:

This is the risk that the Company is not able to meet the short-term gratuity payouts. This may arise due to non availability of enough cash / cash equivalent to meet the liabilities or holding of illiquid assets not being sold in time.

Salary Escalation Risk:

The present value of the defined benefit plan is calculated with the assumption of salary increase rate of plan participants in future. Deviation in the rate of increase of salary in future for plan participants from the rate of increase in salary used to determine the present value of obligation will have a bearing on the plan's liability.

Demographic Risk:

The Company has used certain mortality and attrition assumptions in valuation of the liability. The Company is exposed to the risk of actual experience turning out to be worse compared to the assumption.

Regulatory Risk:

Gratuity benefit is paid in accordance with the requirements of the Payment of Gratuity Act, 1972 (as amended from time to time). There is a risk of change in regulations requiring higher gratuity payouts (e.g. Increase in the maximum limit on gratuity of H 20,00,000).

Asset Liability Mismatching or Market Risk:

The duration of the liability is longer compared to duration of assets, exposing the Company to market risk for volatilities/fall in interest rate.

Investment Risk:

The probability or likelihood of occurrence of losses relative to the expected return on any particular investment.

46 Employee Stock option plans

The Company provides share-based payment schemes to its employees. The relevant details of the scheme and the grant are as below.

I) WeWork India Management Limited 2018 Equity Incentive Plan ("EIP 2018"

On January 04, 2018, the board of directors approved the equity settled "WeWork India Management Limited 2018 Equity Incentive Plan ("EIP 2018")" for issue of stock options to various employees (as defined in the ESOP policy) of the Company. According to the scheme, the employees will be entitled to options, subject to satisfaction of the prescribed vesting conditions, i.e., continuing employment of a minimum of 1 year and graded vesting on quarterly/ yearly basis up to next 48 months. The contractual life (comprising the vesting period and the exercise period) of options granted is within 10 years from date of such grant. On January 08, 2026, The company has further amended plan. The other relevant terms of the grant are as below:

II) WeWork India Management Limited 2021 Equity Incentive Plan ("EIP 2021")

On March 18, 2021, the board of directors approved the equity settled "Long Term Performance Awards" for issue of stock options to various employees (as defined in the ESOP policy) of the Company w.e.f. January 01, 2021. According to the scheme, the employees will be entitled to options, subject to satisfaction of the prescribed vesting conditions. i.e., continuing employment of a minimum of 3 years and on achievement of performance based conditions. The contractual life (comprising the vesting period and the exercise period) of options granted is within 13 years from date of such grant. On January 08, 2026, The company has further amended plan. The other relevant terms of the grant are as below:

47 Fair values and hierarchy

Accounting classification and fair value of financial instruments is as follows. The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation technique:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities.

Level 2 - Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly (i.e. as prices) or indirectly (i.e. derived from prices).

Level 3 - Inputs for the assets or liabilities that are not based on observable market data (unobservable inputs).

The fair value of the financial assets and liabilities is included at the amount at which the instrument could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale.

The following methods and assumptions were used to estimate the fair value:

- The fair value of the quoted mutual funds are at Level 1 of Fair value hierarchy and are measured based on Net Asset Value (NAV) in active markets at the reporting date.

- The fair value of the financial assets (other than mutual funds) and financial liabilities were based on amortised cost at the reporting date.

The following table provides the fair value measurement hierarchy of financial assets of the Company:

The Company's principal financial liabilities, comprise loans and borrowings, service retainer, lease liabilities, trade and other payables. The main purpose of these financial liabilities is to finance the Company's operations. The Company's principal financial assets include loans, investments, security deposits, unbilled revenue, trade and other receivables, inter-corporate deposits and cash and cash equivalents that are derived directly from its operations.

The Company's activities expose it to market risk, credit risk and liquidity risk. The Company's management oversees the management of these risk and works towards minimizing the potential adverse effects, if any, on its financial performance.

A. Market risk

Market risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market prices. Market risk comprises interest rate risk and currency rate risk. Financial instruments affected by market risk include loans and borrowings, payables, investments and deposits. The sensitivity analysis in the following sections relate to the position as at March 31, 2026 and March 31, 2025. The sensitivity of the relevant Profit and Loss item is the effect of the assumed changes in the respective market risks. This is based on the financial assets and financial liabilities held as of March 31, 2026 and March 31, 2025.

(i) Interest rate risk

Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company's exposure to the risk of changes in market interest rates relates primarily to the Company's debt obligations with floating interest rates in form of Term loans.

Fair value sensitivity analysis for fixed-rate instruments

The Company does not account for any fixed-rate financial assets or financial liabilities at fair value through profit or loss. Hence, there is no exposure as at the reporting date to the statement of profit or loss.

Sensitivity analysis for variable rate instruments

Based on the closing balance of variable rate instruments, an increase or decrease in interest rate by 1%, with all other variables remaining constant would result in increase/ decrease in interest cost by H 27.71 million for financial assets and H30.62 million for financial liabilities (H 6.82 million for financial assets and H 25.53 million for financial liabilities for year ended March 31, 2025).

(ii) Foreign currency risk

Foreign currency risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because of changes in foreign exchange rates. The following table shows foreign currency exposures in USD on financial instruments at the end of the reporting year.

The sensitivity of pre-tax profit or loss to changes in exchange rates arises mainly from foreign currency denominated liabilities and the sensitivity to a reasonably possible change in USD and EUR exchange rates, with all other variables held constant is as below:

Depreciation of H against USD by 1% results in decrease in profit before tax by H3.95 million (March 31, 2025 by H 2.10 million) and appreciation of H against USD by 1% results in increase by such amount.

Depreciation of H against THB by 1% results in decrease in profit before tax by H0.01 million (March 31, 2025 by H Nil) and appreciation of H against USD by 1% results in increase by such amount.

Depreciation of H against EUR by 1% results in decrease in profit before tax by H Nil (March 31, 2025 by H 0.00) and appreciation of H against EUR by 1% results in increase by such amount.

The company does not have any unhedged foreign currency exposure as on March 31, 2026 except for those disclosed above.

B. Credit risk

Credit risk is the risk that the counterparty will not meet its obligation under a financial instrument or customer contract, leading to financial loss. The credit risk arises principally from the Company's receivables from customers and loans. The Company has no significant concentration of credit risk with any counterparty.

The Company has an established process to evaluate the creditworthiness of its tenants and prospective tenants to minimise potential credit risk. Credit evaluations are performed by the Company before lease agreements are entered into with prospective tenants. Security in the form of bankers' guarantees or cash security deposits are obtained upon the commencement of the lease.

(i) Trade receivables:

The Company establishes an allowance for impairment that represents its estimate of expected losses in respect of trade receivables that is determined to be predictive of the risk of loss (including but not limited to past payment history, security by way of deposits, external ratings, management accounts and cash flow projections and available press information about customers) and applying experienced credit judgement. The maximum exposure to credit risk as at reporting date is primarily from trade receivables amounting to H 817.09 million (March 31, 2025: H 798.01 million). The movement in allowance for impairment (exposure considered for expected credit loss) in respect of trade receivables during the year was as follows:

(iii) Other financial assets:

The company holds cash and cash equivalents of H 616.40 million (March 31, 2025: H 207.01 million) and fixed deposits with bank of H 260.08 million (March 31, 2025: H 374.84 million). The cash and cash equivalents and fixed deposits with bank are mainly held with scheduled banks which are highly regulated. The company considers that its cash and cash equivalents and fixed deposits with bank have low credit risk based on the external credit ratings of counterparties.

The company considers that its other financial assets which mainly represents unbilled revenue with its tenants have low credit risk based on its nature and other security available.

C. Liquidity risk

Liquidity risk is the risk that the Company will encounter difficulty in meeting the obligations associated with its financial liabilities that are settled by delivering cash or another financial asset. The Company's approach to managing liquidity is to ensure, as far as possible, that it will have sufficient liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unacceptable losses or risking damage to the Company's reputation.

March 31, 2026, the projected cash flows and financial performance of the Company for at least twelve months from the date of approval of these financial statements and believe that the plan for sustained profitability and positive cashflow from operations remains on course.

Financing Arrangement

The Company had H 1,500 Million (March 31, 2025 : Nil) undrawn borrowing facility at the end of the reporting year.

49 Capital management

For the purpose of the Company's capital management, capital includes issued capital, securities premium and all other equity reserves attributable to the equity holders of the company. The primary objective of Company's capital management is to ensure that it maintains an optimum financing structure and healthy returns in order to support its business and maximize shareholder value.

The Company manages its capital structure and makes adjustments, in light of the changes in economic conditions or business requirements.

The Company monitors capital using a gearing ratio which is net debt divided by total of equity plus net debt as shown below : - Net debt includes borrowings (current and non-current) less cash and cash equivalents and mutual fund investments.

50 Segment information:

The Company is primarily engaged in the business of managed workspace provider and provision for allied services which falls within a single reportable segment as the Board of Directors being the Chief Operating Decision Maker ('CODM') of the Company views the entire business activities as managed workspace provider.

Accordingly, there are no additional disclosures to be furnished in accordance with the requirements of Ind AS 108-Operating Segments with respect to single reportable segment. Further, the operations of the Company are domiciled in India and therefore there are no reportable geographical segment. The Company does not have any single external customer contributing to 10% or more of the Company's revenue.

51 Corporate Social Responsibility ('CSR') expenditure

Since the Company does not meet the criteria specified in Section 135 of the Companies Act, 2013, the Company is not required to spend any amount on activities related to corporate social responsibility for the year ended March 31, 2026 and year ended March 31, 2025.

(i) Increase in Total equity as at March 31, 2026 as compared to Total equity as at March 31, 2025 has resulted in variance in Debt-equity ratio (adjusted) ratio.

(ii) Increase in average shareholder equity for the year ended March 31, 2026 as compared to average shareholder equity for the year ended March 31, 2025 has resulted in variance in Return on equity ratio.

(iii) Decrease in Net profit after tax for the year ended March 31, 2026 as compared to net profit after tax for the year ended March 31, 2025 has resulted in variance in Net profit ratio.

(iv) Increase in average investment/deposits as at March 31, 2026 as compared to March 31, 2025 has resulted in variance in Return on Investment.

55 Other Statutory Information

(i) The Company do not have any Benami property, where any proceeding has been initiated or pending against the Company for holding any Benami property under the Benami Transactions (Prohibition) Act, 1988 and rules made thereunder.

(ii) The Company has balance with the below-mentioned companies struck off under section 248 of Companies Act, 2013 or section 560 of Companies Act, 1956:

(vii) The Company has not received any fund from any person(s) or entity(ies), including foreign entities (Funding Party) with the understanding (whether recorded in writing or otherwise) that the Company shall:

(a) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever by or on behalf of the Funding Party (Ultimate Beneficiaries) or

(b) provide any guarantee, security or the like on behalf of the Ultimate Beneficiaries,

(viii) The Company does not have any such transaction which is not recorded in the books of accounts that has been surrendered or disclosed as income during the year in the tax assessments under the Income Tax Act, 1961 (such as, search or survey or any other relevant provisions of the Income Tax Act, 1961)

(ix) The Company has not been declared as wilful defaulter by any bank or financial institution or other lender.

56 For the year ended March 31, 2026, proper books of account as required by law have been kept by the Company except that the backup of the books of account and other books and papers maintained in electronic mode in case of SAP application was not kept in servers physically located in India on daily basis from April 1, 2025 to May 1, 2025; As regards ancillary application acting as a repository of customer database and billing support, the Company does not have server physically located in India for the daily backup of such ancillary application. The management is taking steps, to access the configurations of the SAP application to obtain evidence and logs on maintenance of daily back-up of books of accounts for the period as required under the applicable statute. Further, the Management is taking steps to configure systems of ancillary application and have policy in place to ensure that the Company maintains the daily back-up of the ancillary application in server located in India and also maintain the logs of daily back-up of the ancillary application for the period as required under the applicable statute.

57 The Company has used accounting software for maintaining its books of account which has a feature of recording audit trail (edit log) facility and the same has operated throughout the year for all relevant transactions recorded in the software, except that audit trail feature is not enabled at the database level insofar as it relates to accounting software. Further no instance of audit trail feature being tampered with was noted in respect of accounting software where the audit trail has been enabled. In relation to the ancillary application, Management is taking steps to access the configurations to the ancillary application, obtain a Service Organisation Control Report with relevant test procedures and have policy in place to ensure the audit trail feature of the ancillary application are enabled and are operating throughout the year for all the relevant transactions recorded in these ancillary application, such audit trail feature is not tampered with and that the audit trail has is being preserved by the Company as per the statutory requirements for record retention.

58 Events Occurring after reporting date

On April 30, 2026, The Company allotted 1,815,944 equity shares on exercise of stock options by employees.