Read, office: 9 - 01, HDIL Towers. Anant Kanckar Marg, Bandra (E) Mumbai 400 051. T+91 22 2658 3500 F+91 22 2658 3535 www.hdil.in

CIN No. L70100MH1996PLC101379

BSE Limited, 25th Floor, New Trading Ring, Rotunda Building, PJ Towers, Dalal Street, Fort, Mumbai-400001

Security Symbol: HDIL

Bandra Kurla Complex,

13^th January, 2026

Bandra (East),

Mumbai-400051

"Exchange Plaza", C-1, Block G,

National Stock Exchange of India Limited,

Script Code: 532873

Subject: Intimation under Regulation 30 and 33 of Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015 regarding Outcome of the Meeting and submission of Standalone Unaudited Financial Results for the half yearly and quarter ended on 30^th September, 2025 of FY 2025-26.

Dear Sir,

This is in continuation to our letter dated 6^th January, 2026 regarding the intimation of date of meeting of Directors for consideration and confirmation of the Standalone Unaudited Financial Results of the Company for the half yearly and quarter ended on 30^th September, 2025 of FY 2025-26.

As your good self is already aware that Housing Development and Infrastructure Limited ('the Company/Corporate Debtor') is undergoing Corporate Insolvency Resolution Process ('CIRP') vide Hon'ble National Company Law Tribunal, Mumbai Bench order dated 20^thAugust, 2019 ('Order'), in terms of the provisions of Insolvency and Bankruptcy Code, 2016 ('IBC') and the regulations framed thereunder. Pursuant to the said Order and in accordance with the provisions of IBC, the powers of the Board of Directors and responsibility for managing the affairs of the Company is vested in Mr. Abhay Narayan Manudhane, in the capacity of the Resolution Professional ('RP').

This is to inform you that the Resolution Professional has considered and taken on record the Financial Results of the Company for the half yearly and quarter ended 30^th September, 2025 of FY 2025-26. In accordance with Regulation 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('SEBI LODR Regulations'), the Standalone Unaudited Financial Results of the Company for the half yearly and quarter ended on 30^th September, 2025 of FY 2025-26 along with the Limited Review Report thereon is enclosed herewith.

These financial results have been signed by the RP while exercising the powers of the Board of Directors of the Corporate Debtor, which has been conferred upon him in terms of the provisions of Section 17 of the IBC. The RP has signed these financial results in good faith, solely for the purpose of compliance and discharging his duty under the Code, and subject to the following disclaimers:

(i) The RP has furnished and signed the report in good faith and accordingly, no suit, prosecution or other legal proceeding shall lie against the RP in terms of Section 233 of the Code. The financial results enclosed herewith is accepted by the RP in his fiduciary capacity without accepting any personal liability and is only in compliance with the statutory requirement under Regulation 15(2A) of SEBI LODR Regulation and accordingly, no suit, prosecution or other legal proceeding shall lie against the RP. The RP is not liable for any error or misstatement of facts and

figures, if any, in the accounts and/ or any disclosure or non-disclosure in the accounts.

(ii) No statement, fact, information (whether current or historical) or opinion contained herein should be construed as a representation or warranty, express or implied, of the RP including, his authorized representatives and advisors;
(iii)The RP, in review of the financial results and while signing this statement of financial results, has relied upon the assistance provided by the available Officers of the Corporate Debtor. The statement of financial results of the Corporate Debtor has been taken on record by the RP solely on the basis of and relying on the statement of the management/available officers of the Corporate Debtor. For all such information and data, the RP has assumed that such information and data are in conformity with the Companies Act, 2013 and other applicable laws with respect to the preparation of the financial statements. Accordingly, the RP is not making any representations regarding accuracy, veracity or completeness of the data or information in the financial statements.
(iv) In terms of the provisions of the Code, the RP is required to undertake a review of certain transactions. Such review has been initiated and the RP may be required to accordingly act on the results of such review in terms of the provisions of the Code.

Regulation 33(3)(b) of the SEBI LODR Regulations, 2015 provides that in case the listed entity has Subsidiaries, in addition to the requirement at clause (a) of sub-regulation (3), the listed entity shall also submit quarterly/year-to-date consolidated financial results. There are 5 (Five) Subsidiaries of the Corporate Debtor. The RP is not in a position to provide the consolidated financial results, as the Subsidiaries of the Corporate Debtor are separate legal entities and the RP is facing huge difficulty in obtaining relevant data from the said Subsidiaries. In view of the above, the RP is constrained to submit the standalone financial results.

The report of Resolution Professional is enclosed herewith as Annexure 1.

The meeting commenced at 2.30 pm and concluded at $3.40$ pm.

Kindly consider the same for your records.

Thanking you,

For Housing Development and Infrastructure Limited

$1.11.00085$

Abhay Narayan Manudhane Resolution Professional Registration No.: IBBI/IPA-001/IP-P00054/2017-18/10128 AFA No.: AA1/10128/02/210924/106590

Encl: As above

(M/s. Housing Development and Infrastructure Limited is under Corporate Insolvency Resolution Process pursuant to the provisions of the Insolvency and Bankruptcy Code, 2016. Its affairs, business and assets are being managed by the Resolution Professional, Mr. Abhay N Manudhane appointed by Hon'ble National Company Law Tribunal, Mumbai Bench, Mumbai, vide order dated 20^th August, 2019)

HOUSING DEVELOPMENT AND INFRASTRUCTURE LIMITED REGISTERED OFFICE : 9-01, HDIL TOWERS, ANANT KANEKAR MARG, BANDRA EAST, MUMBAI - 400 051
CIN NUMBER - L70100MH1996PLC101379 WEB ADDRESS - www.hdil.in

UNAUDITED STANDALONE FINANCIAL RESULTS For the Quarter ended 30th June 2025

For the Quarter ended both June 2025
Sr.			Ouarter Ended
No	Particulars	30th June 2025	31st March 2025	30th June 2024	Year ended 31st March 2025
		$\mathbf{1}$	$\overline{2}$	3	$\overline{\bf{4}}$
		(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
		41.42	40.62	1,872.66	3,395.61
$\mathbf{1}$	Net Sales/Income from Operations	40.89	53.00	68.40	196.38
$\sqrt{2}$	Other Income	82.30	93.62	1,941.07	3,591.99
3	Total Income
4 ¹	Total Expenditure		٠
	(a) Cost of Raw Materials Consumed
	(b) Purchase of Traded goods			1,777.20	2,275.36
	(c) Changes in inventories of finished goods,
	work-in-progress and stock-in-trade	29.72	29.60	51.28	146.50
	(d) Employees benefit expenses
	(e) Finance Cost (f) Depreciation	58.58	59.07	64.69	253.04
	(g) Other Expenditure	237.17	264.64	228.79	937.39
	(h) Total Expenses	325.47	353.30	2,121.97	3,612.29
5	Profit from operations before exceptional items	(243.17)	(259.68)	(180.90)	(20.30)
	and extra ordinary items (3-4)
6	Exceptional items			(20.36)	(19.17)
7	Profit before extra ordinary items (5-6)	(243.17)	(259.68)	(160.54)	(1.13)
8	Extraordinary items				(1.13)
9	Profit before Tax (7-8)	(243.17)	(259.68)	(160.54)
	10 Provision for Taxation
	i) Income Tax
	ii) Deferred Tax (Refer Note no 6)
	iii) Tax for Earlier Years
	Total Tax Expenses	(243.17)	(259.68)	(160.54)	(1.13)
	11 Profit for the period (9-10)
	12 Other Comprehensive Income (OCI)
	Items that will not be reclassified to Profit or Loss
	i) Remeasurement gain/(loss) on defined benefit
	plan
	Total Other Comprehensive Income (OCI) net of tax		(259.68)	(160.54)	(1.13)
	13 Total Comprehensive Income (11-12)	(243.17) 47,400.40	47,400.40	47,400.40	47,400.40
	14 Paid Up Equity Share Capital
	(Face Value of Rs. 10/- Per Share)
	15 Reserves Excluding Revaluation
	16 Earning Per Share (EPS) in Rs.	(0.05)	(0.00)	(0.03)	(0.00)
	a) Basic EPS (not annualised) b) Diluted EPS (not annualised)	(0.05)	(0.00)	(0.03)	(0.00)

HOUSING DEVELOPMENT AND INFRASTRUCTURE LIMITED REGISTERED OFFICE : 9-01, HDIL TOWERS, ANANT KANEKAR MARG, BANDRA EAST, MUMBAI - 400 051
CIN NUMBER - L70100MH1996PLC101379 WEB ADDRESS - www.hdil.in

UNAUDITED STANDALONE FINANCIAL RESULTS For the Quarter ended 30th June 2025

For the Quarter ended both June 2025
Sr.			Ouarter Ended
No	Particulars	30th June 2025	31st March 2025	30th June 2024	Year ended 31st March 2025
		$\mathbf{1}$	$\overline{2}$	3	$\overline{\bf{4}}$
		(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
		41.42	40.62	1,872.66	3,395.61
$\mathbf{1}$	Net Sales/Income from Operations	40.89	53.00	68.40	196.38
$\sqrt{2}$	Other Income	82.30	93.62	1,941.07	3,591.99
3	Total Income
4 ¹	Total Expenditure		٠
	(a) Cost of Raw Materials Consumed
	(b) Purchase of Traded goods			1,777.20	2,275.36
	(c) Changes in inventories of finished goods,
	work-in-progress and stock-in-trade	29.72	29.60	51.28	146.50
	(d) Employees benefit expenses
	(e) Finance Cost (f) Depreciation	58.58	59.07	64.69	253.04
	(g) Other Expenditure	237.17	264.64	228.79	937.39
	(h) Total Expenses	325.47	353.30	2,121.97	3,612.29
5	Profit from operations before exceptional items	(243.17)	(259.68)	(180.90)	(20.30)
	and extra ordinary items (3-4)
6	Exceptional items			(20.36)	(19.17)
7	Profit before extra ordinary items (5-6)	(243.17)	(259.68)	(160.54)	(1.13)
8	Extraordinary items				(1.13)
9	Profit before Tax (7-8)	(243.17)	(259.68)	(160.54)
	10 Provision for Taxation
	i) Income Tax
	ii) Deferred Tax (Refer Note no 6)
	iii) Tax for Earlier Years
	Total Tax Expenses	(243.17)	(259.68)	(160.54)	(1.13)
	11 Profit for the period (9-10)
	12 Other Comprehensive Income (OCI)
	Items that will not be reclassified to Profit or Loss
	i) Remeasurement gain/(loss) on defined benefit
	plan
	Total Other Comprehensive Income (OCI) net of tax		(259.68)	(160.54)	(1.13)
	13 Total Comprehensive Income (11-12)	(243.17) 47,400.40	47,400.40	47,400.40	47,400.40
	14 Paid Up Equity Share Capital
	(Face Value of Rs. 10/- Per Share)
	15 Reserves Excluding Revaluation
	16 Earning Per Share (EPS) in Rs.	(0.05)	(0.00)	(0.03)	(0.00)
	a) Basic EPS (not annualised) b) Diluted EPS (not annualised)	(0.05)	(0.00)	(0.03)	(0.00)

Notes:

$\mathbf{1}$

The Company was admitted under the Insolvency and Bankruptcy Code, 2016 ("IBC") on 20th August 2019 vide the order of Hon'ble NCLT (Mumbai Bench). However, the Interim Resolution Professional ("IRP") took charge of the Corporate Debtor on 26th August 2019. The Committee of Creditors (CoC) confirmed the appointment of Shri. Abhay Narayan Manudhane as the Resolution Professional ("RP") in their meeting held on 08th January 2020.

The RP faced several operational problems while compiling details and finalising accounts due to exodus of critical employees in finance, accounts, banking, secretarial and other departments. No information could be gathered from the management as promoter directors were taken into judicial custody within a month of taking charge by the IRP. Some of the key officials / KMP resorted to non-cooperation which compelled the RP to file an application u/s 19(2) of IBC with the Hon'ble NCLT, Mumbai Bench. At the same time, the investigation by various investigating authorities were going on and the Company officials were engaged in providing details to them on priority. In the intervening period, the previous statutory auditor tendered her resignation due to ill health and could not provide critical information relating to the accounts for previous year(s) wherein she acted as the statutory auditor. The matter further worsened due to nationwide lockdown on account of Covid-19.

Ultimately with available skeleton staff, efforts were made by the RP and his team with the help of profeesionals to complete the accounts on the basis of whatever information was available on best effort basis. In addition, due to the reasons mentioned in the Report of RP, RP was unable to compile true and fair accounts of the Company for the quarter ended 30th June, 2025.

Due to non-availability of sufficient information, RP has not been able to re-group and re-state the figures for the previous quarter / half year / year.

The Committee of Creditors of the Company approved the Resolution Plans submitted by the three Resolution Applicants for six Verticals/Projects with requisite majority of the voting share as per the Insolvency and Bankruptcy Code, 2016 (Code) and Regulations framed thereunder. The Resolution $\overline{2}$ Professional has filed necessary Applications before Hon'ble NCLT, Mumbai Bench for approval of the six Verticals/Projects. The Committee of Creditors of the Company has approved 1 more vertical resolution plan, the Evoting result of which were declared on 12th May 2025. The Resolution Professional has filed necessary Applications before Hon'ble NCLT, Mumbai Bench for approval of resolution plan for one Verticals/Project.

Out of these 6 resolution plans Hon'ble NCLT vide its Order pronounced on 27th June 2025 approved resolution plan for Vertical V - BKC Inspire and Vertical IX - Shahad Maharal land. Erstwhile Promoters and Others has filed appeal before Hon'ble NCLAT, New Delhi against the Order dated 27th June 2025 passed by Hon'ble NCLT. Hon'ble NCLT vide its Order dated 27.06.2025 had approved the extension of CIRP upto 27.06.2025.In view of completion of CIRP period, the RP had filed the liquidation application before Hon'ble NCLT.

Due to absence of information including the backup papers, calculations and also due to non-availability of the erstwhile management and key managerial staff, prior period's closing balances i.e., opening balances as on 1st April, 2019 could not be reconciled with the audited financial 3
As reported by the transaction cum forensic auditors, there were numerous misstatements and errors in the classification and presentation of information in the financial statements of the prior years. However, due to non-availability of complete information, the said misstatements and errors could not be 4
In absence of vital information such as cost of acquisition and useful life, Intangible assets are not amortized. In view of the uncertainty of resumption of the Company's operations, the management is required to make an assessment of impairment to the carrying 5 value of its assets. Pending conclusion of CIRP, we have been informed that the management has not been able to perform any assessment to determine 6 any impairment to the carrying value of these assets. Consequently, we are unable to conclude if any impairment needs to be recognized to the carrying value of these assets and its consequential effects.
Due to absence of information, Investments by the company are not valued at Fair Value as per the requirements of the Indian Accounting Standards. Due to the non-availability of audited financial statements of the subsidiaries and associates of the Company, the Company has been unable to prepare $\overline{7}$ 8
the consolidated financial statements of the group for the quarter ended 30th June, 2025. Due to absence of sufficient information, investments in partnership firm are not assessed for impairment, if any.
10 All bank accounts, except for ICICI bank account could not be reconciled with the bank statements due to non-availability of details. 9
11 The Company has not made any adjustments for IND AS recognition of Lease revenue for Quarter ending 30th June, 2025. 12 The Company is faced with certain on-going investigations initiated by governmental authorities such as Enforcement Directorate (ED), Economic Offences Wing (EOW), Serious Fraud Investigation Office (SFIO) and Central Bureau of Investigation (CBI). However, the outcome of such
investigations and its effect on the financial statements cannot be ascertained.
13 As per the requirements of Ind AS-108, no disclosure is required as the Company is operating in single business segment. 14 Previous year/period figures have been regrouped/reclassified, where necessary to conform to current period classification.
15 The results for First Quarter were approved on 13th January 2026

As per my report of even date attached For Housing Development and Infrastructure Limited

$1.21.00085$

Abhay Manudhane Resolution Professional IBBI Regn No:IBBI/IPA-001/IP-P00054/2017-18/10128

Place: Mumbai Date: 13th January 2026

Regd. office: 9 - 01. HDIL Towers. Anant Kanekar Marg, Bandra (E) Mumbai 400 051. T+91 22 2658 3500 F+91 22 2658 3535 www.hdil.in

CIN No. L70100MH1996PLC101379

REPORT OF THE RESOLUTION PROFESSIONAL

$\mathcal{F}_{n+2} = \mathbb{E}[\mathcal{A}_n] \cup \mathbb{E}[\mathcal{A}_n]$

I, Abhay N. Manudhane, have been appointed as an Interim Resolution Professional (IRP) by Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench for conduct of Corporate Insolvency Resolution Process (CIRP) of M/s Housing Development and Infrastructure Ltd (Corporate Debtor) vide Order no. CP (IB) -27/I&BP/MB/2019 dated 20th August, 2019. Thereafter, the Committee of Creditors (CoC) of the Corporate Debtor appointed the undersigned as Resolution Professional for the Corporate Debtor ("RP").

As per the requirements of Insolvency and Bankruptcy Code, 2016, (Code) the IRP/RP has to ensure that the Corporate Debtor remains going concern during CIRP. As the Corporate Debtor is a listed Company and is required to prepare and submit quarterly and year to date financial results as per Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR Regulations), the RP ensured preparation and submission of standalone financial results for the quarter ended 30^th June, 2025. The standalone financial results for the quarter ended $30^th$ June, 2025 enclosed herewith have been drawn as per accounting practices followed by the Corporate Debtor and records available with the Corporate Debtor.

Out of the 5 Directors on the suspended Board of Corporate Debtor (one independent director expired), 3 Non-Executive Independent Directors had tendered resignation, which CoC has not accepted. The Chief Financial Officer and Company Secretary had also resigned. In the absence of Key Managerial Personnel and other officials who were primarily responsible for closure of accounts and financial reporting, the RP has made all practical and reasonable efforts from time to time to gather details to prepare these financial results, despite various challenges and complex circumstances, has tried to put in best possible efforts to provide information required by the Auditors for the purpose of carrying out the limited review of the financial results of the Corporate Debtor.

The RP presumed that the records made available to him for a period prior to commencement of CIRP are genuine and are properly maintained by the previous management, comprising of Board of Directors and such information and data are in the conformity with the Companies Act, 2013 and other applicable laws with respect to the preparation of the financial results. The RP, in review of financial results and signing this financial result has relied upon the assistance provided by the available Officers of the Corporate Debtor.

As per Regulation 33 of the Listing Regulations, the standalone unaudited financial results of the Company submitted to the stock exchange shall be signed by the Chairperson or Managing Director or Whole Time Director or in absence of all of them, it shall be signed by any Director of the Company who is duly authorized by the Board of Directors to sign the standalone unaudited financial results irrespective of the fact that the powers of the Board of Directors are suspended on commencement of CIRP. The meeting of the directors of the company was convened on $13^th$ January, 2026, however,

none of the other directors attended the same. The said results are signed by the Resolution Professional as per the appropriate provisions of the law. The RP has signed these financial results in good faith, solely for the purpose of compliance and discharging his duty under the Code, and subject to the following disclaimers

The RP has furnished and signed the report in good faith and accordingly, no suit, prosecution or other $(i)$ legal proceeding shall lie against the RP in terms of Section 233 of the Code. The financial results enclosed herewith is accepted by the RP in his fiduciary capacity without accepting any personal liability and is only in compliance with the statutory requirement under Regulation 15(2A) of SEBI LODR Regulations and accordingly, no suit, prosecution or other legal proceeding shall lie against the RP. The RP is not liable for any error or misstatement of facts and figures, if any, in the accounts and/ or any disclosure or non-disclosure in the accounts.
No statement, fact, information (whether current or historical) or opinion contained herein should be $(ii)$ construed as a representation or warranty, express or implied, of the RP including, his authorized representatives and advisors;
The RP, in review of the financial results and while signing this statement of financial results, has $(iii)$ relied upon the assistance provided by the available Officers of the Corporate Debtor. The statement of financial results of the Corporate Debtor for the quarter ended 30^th June, 2025 has been taken on record by the RP solely on the basis of and relying on the statement of the management of the Corporate Debtor. For all such information and data, the RP has assumed that such information and data are in the conformity with the Companies Act, 2013 and other applicable laws with respect to the preparation of the financial results. Accordingly, the RP is not making any representations regarding accuracy, veracity or completeness of the data or information in the financial results.
In terms of the provisions of the Code, the RP is required to undertake a review of certain $(iv)$ transactions. Such review has been initiated and the RP may be required to act accordingly in terms of the provisions of the Code.
Previous years figures are regrouped and reclassified wherever necessary. $(v)$

For Housing Development and Infrastructure Limited

Abhay N Manudhane Resolution Professional Registration No.: IBBI/IPA-001/IP-P00054/2017-18/10128 AFA No.: AA1/10128/02/221223/105249 Date: 13^th January, 2026 Place: Mumbai

dayal and lohia

chartered accountants

Independent Auditor's Limited Review Report on Quarterly Unaudited Standalone Financial Results of Housing Development & Infrastructure Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To. The Resolution Professional, Housing Development & Infrastructure Limited Mumbai.

1. We have reviewed the accompanying statement of unaudited standalone financial results of Housing Development & Infrastructure Limited ("the Company") for the quarter ended 30^th June, 2025 ("the statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the Listing Regulations") as amended.
1. The Company was admitted under the Insolvency and Bankruptcy Code, 2016 ("IBC") on 20^th August 2019 vide the order of Hon'ble NCLT (Mumbai Bench). However, the Interim Resolution Professional ("IRP") took charge of the Corporate Debtor on 26th August 2019. The Committee of Creditors (CoC) confirmed the appointment of Shri. Abhay Narayan Manudhane as the Resolution Professional ("RP") (IBBI Regn No:IBBI/IPA-001/IP-P00054/2017-18/10128) in their meeting held on 08th January 2020.
1. The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 (Ind AS 34), "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, read with the Circular, is the responsibility of the RP. Our responsibility is to express an opinion on the Statement based on our review.
1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

703, kohinoor square, n.c. kelkar marg, shivaji park, dadar, mumbai - 400 028. phone: (022) 3507 7087 • e-mail: [email protected] • website: www.dayalandlohia GSTIN: 27AAAFD1548C1ZY

BASIS FOR DISCLAIMER OF CONCLUSION

Following, amongst others, are some of the important reasons because of which we were not able to obtain sufficient and appropriate audit evidence in order to form a conclusion:

$1.$ Note from the Resolution Professional ("RP")

The RP faced several operational problems while compiling details and finalising accounts for the year ended 31.03.2019, due to exodus of critical employees in finance, accounts, banking, secretarial and other departments. No information could be gathered from the management as promoter directors were taken into judicial custody within a month of taking charge by the IRP. Some of the key officials / KMP resorted to non-cooperation which compelled the RP to file an application u/s 19(2) of IBC with the Hon'ble NCLT, Mumbai Bench

Ultimately with available skeleton staff, efforts were made by the RP and his team with the help of professionals to complete the accounts on best effort basis.

Due to the non-availability of audited financial statements of the subsidiaries and associates of the Company, some of which are under Corporate Insolvency Resolution Process ("CIRP") / Liquidation and non-operational, the Company has been unable to prepare the consolidated results of the group for the quarter ending 30th June, 2025.

$2.$ As informed by the RP, certain information including the minutes of meetings of the COC and the outcome of certain procedures carried out as a part of the CIRP are confidential in nature and same could not be shared with anyone other than members of COC and the Hon'ble NCLT. Accordingly, we are unable to comment on the possible financial impact, presentation/disclosures etc., if any, that may arise if access to above mentioned documents would have been provided to us.

3. Opening Balances as on 1st April 2019.

Due to absence of information including the backup papers and calculations as also due to non-availability of the erstwhile management and key managerial staff, opening balances as on 31^st March, 2019 could not be reconciled with the audited financial statement of the earlier year, thus are likely to have continuing impact on the financial results of the subsequent years.

Page 2 of 7

4. Non-Current Assets - Property, Plant & Equipment

We refer to note 6 of unaudited financial results.

a. Para 9 of Ind AS 36 states that, "An entity shall assess at the end of each reporting period whether there is any indication that an asset may be impaired. If any such indication exists, the entity shall estimate the recoverable amount of the asset"

In view of the uncertainty of resumption of the Company's operations, the management is required to make an assessment of impairment to the carrying value of its assets. Pending conclusion of Corporate Insolvency Resolution Process ("CIRP), we have been informed that the management has not been able to perform any assessment to determine any impairment to the carrying value of these assets. Consequently, we are unable to conclude if any impairment needs to be recognized to the carrying value of these assets and its consequential effects.

The RP has been unable to amortize the intangible assets due to absence b. of vital information such as cost of acquisition and useful life.

5. Investment in Property

We refer to note 6 of unaudited financial results.

a. For the quarter ending 30^th June, 2025, due to absence of sufficient information, the Company has not assessed any of the investments in property for impairment as per Para 9 of Ind AS 36 given at sr. no. 4a above
b. The Company has not disclosed the said investments at Fair Value as per the requirements of the Indian Accounting Standards.

Non-Current Investments 6.

We refer to note 7 of unaudited financial results.

a. For the quarter ending 30^th June, 2025, due to absence of sufficient information, the Company has not assessed any of the non-current investments for impairment as per Para 9 of Ind AS 36 given at sr. no. 4a above.
b. The Company has not valued the investments at Fair Value as per the requirements of the Indian Accounting Standards.

Page 3 of 7

$7¹$ Other Non-Current Financial Assets

We refer to note 6 of unaudited financial results.

Details and documents relating to guarantee obligation commission were not provided for verification and therefore we cannot comment on the same.

8. Inventories

RP has stated that physical verification of the inventory has been carried out at the time of taking charge of the Company and the discrepancies, to the extent ascertained, have been adjusted in the books by making appropriate provisions at the relevant year end. In absence of any further information, the said provision is continued for the quarter ended 30^th June, 2025.

9. Current Investments

We refer to note 7 of unaudited financial results,

For the quarter ending 30^th June, 2025, due to absence of sufficient $a_{\cdot}$ information, the Company has not valued the investments at Fair Value as per the requirements of the Indian Accounting Standards.
b. Due to non-availability of financial statements of the partnership firms, the Company has been unable to recognize any profit or loss from such partnership firm for the quarter ending 30^th June, 2025.

10. Trade receivables

Given the on-going insolvency resolution process and the ageing of trade receivables outstanding in the books of accounts, the recoverability of such debtors is in question. However, provisions for doubtful receivables of INR 1,78,285.53 lakhs has been created by the Company.

11. Cash and Cash Equivalents

We refer to note 10 of unaudited financial results,

a. After taking charge by IRP/RP, discrepancies were noticed in physical cash. The said discrepancies were included in the application made to NCLT u/s.19(2) referred to in para 1 of page 2 above. No cash balance verification has been done for quarter ending 30^thJune, 2025 due to which we are unable to comment on the same.

b. The only active Bank A/c with ICICI Bank is reconciled and the remaining accounts with various banks wherein the balance aggregates to INR 266.28 lakhs could not be reconciled as Bank statements and Balance Confirmations were not available.

$12.$ Other Bank Balances

Due to lack of availability of relevant information, the Company has not been able to estimate and thereby account for the interest accrued on the deposits for quarter ending 30th June, 2025.

13. Non-Current Provisions

As per Para 66 of Ind AS 19 - "Employee Benefits". In order to measure the present value of the post-employment benefit obligations and the related current service cost, it is necessary: (a) to apply an actuarial valuation method:

(b) to attribute benefit to periods of service; and
(c) to make actuarial assumptions

However, during the quarter, due to lack of appropriate information and necessary resources, the Company has not been able to obtain an actuarial valuation as required under the provisions of Ind AS 19. Hence, no provisions have been made for the quarter ending 30^th June, 2025 and the figure of provision as on 31^st March, 2020 has been continued.

14. Current Borrowings - Term Loans and Debentures.

a. As statutorily required, the IRP made a public announcement on 29th August 2019 inviting claims from creditors of the Company. In response to the public announcement, the IRP admitted claims of INR 7.37.496.95 lakhs (including INR 90,015.64 lakhs from home buyers), INR 12,523.96 lakhs from Operational Creditors, INR 61,002.74 lakhs from operational creditors (Government authorities), INR 1,157.97 lakhs from the employees and INR 18,061.05 lakhs from other creditors. The balance as per the books of accounts are different then the claims lodged as the interest, penal interest charges etc. charged by the bankers have not been completely accounted for by the erstwhile management in the books of accounts.

b. For the quarter ending on 30^th June, 2019, Ind AS adjustments relating to unwinding of finance cost amounting to INR 23.26 lakhs have been made in the books of accounts. However, the relevant documents and calculations could not be obtained from the erstwhile management. Hence similar adjustment, if any, has not been made for subsequent period.

15. Other Current Liabilities

We have not received any workings, calculations or statements quantifying the liabilities of any statutory dues, including Service Tax, Value Added Tax (VAT), Tax Collected at Source (TCS), for quarter and year ending 30^th June, 2025. No effect has been given on continuing liability on account of above statutory dues including during the current period.

16. Revenue and Other Income:

We refer to note 11 of the unaudited financial result,

The Company has not made any adjustments for IND AS recognition of Lease revenue for quarter ending 30^th June, 2025.

17. Ongoing investigations:

The Company is faced with certain on-going investigations initiated by governmental authorities such as Enforcement Directorate (ED), Economic Offences Wing (EOW), Serious Fraud Investigation Office (SFIO) and Central Bureau of Investigation (CBI). However, the outcome of such investigations and its effect on the financial statements cannot be ascertained.

As per Regulation 33 of the Listing Regulations, the standalone unaudited financial results of the Company submitted to the stock exchange shall be signed by the Chairperson or Managing Director or Whole Time Director or in absence of all of them, it shall be signed by any Director of the Company who is duly authorized by the Board of Directors to sign the standalone unaudited financial results. As mentioned above, in view of the ongoing CIRP, the powers of the board of directors stand suspended and are exercised by the Resolution Professional.

MATERIAL UNCERTAINTY RELATING TO GOING CONCERN

The Company has been referred to National Company Law Tribunal under the Insolvency and Bankruptcy Code, 2016 (the Code), and there is considerable decline in level of operations of the Company and it continues to incur losses. The Company is a co-obligor and has received demand notices in respect of borrowings of other

Page 6 of 7

obligors / borrowers. Since Corporate Insolvency Resolution Process (CIRP) is currently in progress, as per the Code, it is required that the Company be managed as a going concern during CIRP. Accordingly, the results are continued to be prepared on going concern basis. However, there exists a material uncertainty about the ability of the Company to continue as a "Going Concern". The same is dependent upon the receipt, evaluation and approval of resolution plan/s by the Committee of Creditors and finally to be approved by the Hon'ble National Company Law Tribunal. The appropriateness of the preparation of the results on going concern basis is critically dependent upon completion of the CIRP as specified in the Code. Necessary adjustments required on the carrying amount of assets and liabilities are not ascertainable at this stage.

DISCLAIMER OF CONCLUSION

Because of the significance of the matters described under the "Basis for disclaimer of conclusion" para, we have not been able to obtain sufficient appropriate evidence as to whether the Statement has been prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India or state whether the Statement has disclosed the information required to be disclosed in terms of the Regulation, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For Dayal and Lohia Chartered Accountants Firm Regn. No. 102200W

AND bachare MUMBAI Anil Lohia PED ACCO (Partner) M No 31626

Place: Mumbai Date: 13th January, 2026. UDIN: 26031626BMDTWR7056

Read, office: 9 - 01, HDIL Towers. Anant Kanckar Marg, Bandra (E) Mumbai 400 051. T+91 22 2658 3500 F+91 22 2658 3535 www.hdil.in

CIN No. L70100MH1996PLC101379

BSE Limited, 25th Floor, New Trading Ring, Rotunda Building, PJ Towers, Dalal Street, Fort, Mumbai-400001

Security Symbol: HDIL

Bandra Kurla Complex,

13^th January, 2026

Bandra (East),

Mumbai-400051

"Exchange Plaza", C-1, Block G,

National Stock Exchange of India Limited,

Script Code: 532873

Dear Sir,

figures, if any, in the accounts and/ or any disclosure or non-disclosure in the accounts.

(ii) No statement, fact, information (whether current or historical) or opinion contained herein should be construed as a representation or warranty, express or implied, of the RP including, his authorized representatives and advisors;
(iii)The RP, in review of the financial results and while signing this statement of financial results, has relied upon the assistance provided by the available Officers of the Corporate Debtor. The statement of financial results of the Corporate Debtor has been taken on record by the RP solely on the basis of and relying on the statement of the management/available officers of the Corporate Debtor. For all such information and data, the RP has assumed that such information and data are in conformity with the Companies Act, 2013 and other applicable laws with respect to the preparation of the financial statements. Accordingly, the RP is not making any representations regarding accuracy, veracity or completeness of the data or information in the financial statements.
(iv) In terms of the provisions of the Code, the RP is required to undertake a review of certain transactions. Such review has been initiated and the RP may be required to accordingly act on the results of such review in terms of the provisions of the Code.

The report of Resolution Professional is enclosed herewith as Annexure 1.

The meeting commenced at 2.30 pm and concluded at $3.40$ pm.

Kindly consider the same for your records.

Thanking you,

For Housing Development and Infrastructure Limited

$1.11.00085$

Abhay Narayan Manudhane Resolution Professional Registration No.: IBBI/IPA-001/IP-P00054/2017-18/10128 AFA No.: AA1/10128/02/210924/106590

Encl: As above

HOUSING DEVELOPMENT AND INFRASTRUCTURE LIMITED
REGISTERED OFFICE : 9-01, HOIL TOWERS, ANANT KANEKAR MARG, BANDRA EAST, MUMBAI - 400 051
CIN NUMBER - L70100MH1996FLC101379
WEB ADDRESS - www.hdilin

Standalone Statement of Asset and Liabilities		(Rs. In Lakhs)
Particulars	30th September, 2025	31st March. 2025
	(Half Year Ended)	(Year)
	(Un-Audited)	(Audited)
ASSETS
Non-current assets
Property, Plant and Equipment	9,487.38	9,604.54
Investment Property	10.350.67	10 350 67
Financial Assets
Investments - NCA	48 888.74	48.888.74
Others	818.31	818.31
Deferred tax Asset (Net)
Current assets
Inventories	2,81,468.68	2.81.468.68
Financial Assets
Investments - CA	101.58	101.58
Trade receivables	40.530.05	40 633 99
Cash and cash equivalents	344.66	386 57
Bank balances other than above	544 87	1,264,00
Others	1,090.90	1.090.90
Other current assets	337.59	125.34
Current Tax Assets (Net)	24.19	23.06
Total Assets	3.03,987.62	3,94,756.39
EQUITY AND LIABILITIES
Equity Share capital	47,400.40	47,400.40
Other Equity	$-2, 77, 383.64$	$-2,76,893.89$
LIABILITIES
Current liabilities
Financial Liabilities
Borrowings	2,48,363.72	2,48,363.72
Trade payables
- total outstanding dues of micro enterprises and small enterprises; and
- total outstanding dues of creditors other than micro enterprises and small enterprises	42,277.21	41,840.14
Other financial liabilities	1.25,172.76	1.25.858.81
Other current liabilities	2,07,212.65	2,07,242.71
Provisions	944.50	944 50
Total Equity and Liabilities	3.03.087.62	3,94,756.39

$\hat{L}$

$\alpha$

$\sim$

$\tilde{a}^{\pm}_{\pm}$

$\epsilon \approx$

$\overline{\mathcal{R}}$

$\frac{1}{1+\epsilon}$

$\bar{\nu}$

HOUSING DEVELOPMENT AND INFRASTRUCTURE LIMITED
REGISTERED OFFICE : 9-01, HDIL TOWERS, ANANT KANEKAR MARG, BANDRA EAST, MUMBAI - 400 051
CIN NUMBER - L70100MH1996PLC101379
WEB ADDRESS - www.hdilin

UNAUDITED STANDALONE FINANCIAL RESULTS
For the Half Year and Quarter ended 30th Sept 2025

$\sim$

$\pm$

$\widetilde{\mathcal{C}}$

For the Half Year and Quarter ended 30th Sept 2025 (Rs. In lakhs)
Sr.			Quarter Ended			Half Year Ended	Year ended 31st
No	Particulars	30th Sept 2025	30th June 2025	30th Sept 2024	30th Sept 2025	30th Sept 2024	March 2025
		(Un-audited)	(Un-audited)	(Un-audited)	(Un-audited)	(Un-audited)	(Audited)
	1 Net Sales/Income from Operations	40.59	41.42	41.68	82.01	1,914.35	3,395.61
	2 Other Income	35.47	40.89	46.20	76.36	114.61	19638
	3 Total Income	76.06	82 30	87.89	158 36	2.028.96	3,591.99
	4 Total Expenditure
	(a) Cost of Raw Materials Consumed		۰	$\ddot{}$	× ×	1,777.20	2,275.36
	(b) Changes in inventories of finished goods, work-in-progress and stock-in-trade
	(c) Employees benefit expenses	29.57	29.72	35.11	59.29	86 39	146.50
	(d) Finance Cost
	(e) Depreciation	58 58	58.58	64.65	117.17	129.34	253.04
	(f) Other Expenditure	234.47	237.17	228.84	471.64	457.63	937.39
	Total Expenses	322.62	325.47	328.60	648.10	2,450.56	3,612.29
	5 Profit from operations before exceptional items and extra ordinary items (3-4)	$-246.56$	$-243.17$	$-240.71$	$-489.74$	$-421.62$	$-20.30$
	6 Exceptional items		$-243.17$	$-240.71$	$-489.74$	$-421.62$	$-20.30$
	7 Profit before extra ordinary items (5-6)	$-246.56$				$-20.36$	$-19.17$
	8 Extraordinary items 9 Profit before Tax (7-8)	$-246.56$	$-243.17$	$-240.71$	$-489.74$	$-401.26$	$-1.13$
	10 Provision for Taxation
	i) Income Tax		٠	٠
	ii) Deferred Tax (Refer Note no 6)			۰
	iii) Tax for Earlier Years			۰
	Total Tax Expenses			w.
	11 Profit for the period (9-10)	$-246.56$	$-243.17$	$-240.71$	$-489.74$	$-401.26$	$-1.13$
	12 Other Comprehensive Income (OCI)
	Items that will not be reclassified to Profit or Loss i) Remeasurement gain/(loss) on defined benefit plan
	Total Other Comprehensive Income (OCI) net of tax
	13 Total Comprehensive Income (11-12)	$-246.56$	$-243.17$	$-240.71$	$-489.74$	$-401.26$	$-1.13$
	14 Paid Up Equity Share Capital	47,400.40	47,400 40	47,400.40	47,400.40	47,400.40	47,400.40
	(Face Value of Rs. 10/- Per Share)
	15 Reserves Excluding Revaluation
	16 Earning Per Share (EPS) in Rs.
	a) Basic EPS (not annualised)	$-0.10$	$-0.05$	$-0.08$	$-0.10$	$-0.08$	$-0.00$
	b) Diluted EPS (not annualised)	$-0.10$	$-0.05$	0.08	$-0.10$	$-0.08$	$-0.00$

$\mathcal{C}(i)$

Notes:

$\overline{2}$

ess.
The Company was admitted under the Insolvency and Bankruptcy Code. 2016 ("IBC") on 20th August 2019 vide the order of Hon'ble NCLT (Mumbai Bench). However, the Interim Resolution Professional ("IRP") took charge of
th

Ultimately with available skeleton staff, efforts were made by the RP and his team with the help of profeesionals to complete the accounts on the basis of whatever information was available on best effort basis. In additio reasons mentioned in the Report of RP, RP was unable to compile true and fair accounts of the Company for the half year ended 30th Sept, 2025.

Due to non-availability of sufficient information, RP has not been able to re-group and re-state the figures for the previous quarter / half year / year.

The Committee of Creditors of the Company approved the Resolution Plant submitted by the three Resolution Applicants for six Verticals/Projects with requisite majority of the voting share as per the Insolvency and Bankrupt

Hon'ble NCLT vide its Order dated 27.06.2025 had approved the extension of CIRP upto 27.06.2025.In view of completion of CIRP period, the RP had filed the liquidation application before Hon'ble NCLT.
Due to absence of info $\overline{3}$ Due to all
As reported by the transaction cum forensic auditors, there were numerous misstatements and errors in the classification and presentation of information in the financial statements of the prior years. However, due to non-a complete information, the said misstatements and errors could not be rectified.
In absence of vital information such as cost of acquisition and useful life, Intangible assets are not amortized. $\epsilon$
In abtence or vial movimmon such as cost of acquisition and useful me, mangine assets are not amortized.
In view of the uncertainty of resumption of the Company's operations, the management is required to make an assessmen 7 Due to absence of information, Investments by the company are not valued at Fair Value as per the requirements of the Indian Accounting Standards.
$\bf 8$
Due to the non-availability of audited financial statements of the subsidiaries and associates of the Company, the Company has been unable to prepare the consolidated financial statements of the group for the half year end 9 Due to absence of sufficient information, investments in partnership firm are not assessed for impairment, if any.
10 All bank accounts, except for ICICI bank account could not be reconciled with the bank statements due to non-availability of details.
11 The Company has not made any adjustments for IND AS recognition of Lease revenue for Half year ending 30th Sept, 2025.
12 The Company is faced with certain on-going investigations initiated by governmental authorities such as Enforcement Directorate (ED), Economic Offences Wing (EOW), Serious Fraud Investigation Office (SFIO) and Central B of Investigation (CBI). However, the outcome of such investigations and its effect on the financial statements cannot be ascertained.
13 As per the requirements of Ind AS-108, no disclosure is required as the Company is operating in single business segment.
14 Previous year/period figures have been regrouped/reclassified, where necessary to conform to current period classification.
15 The results for half year and quarter ended were approved on 13th January, 2026.

As per my report of even date attached For Housing Development and Infrastructure Limited

· pl. meg Abhay Manudhane

Resolution Profes IBBI Regn No:IBBI/IPA-001/IP-P00054/2017-18/10128

Place: Mumbai Date: 13th January, 2026

HOUSING DEVELOPMENT AND INFRASTRUCTURE LIMITED
REGISTERED OFFICE : 9-01, HDIL TOWERS, ANANT KANEKAR MARG, BANDRA EAST, MUMBAI - 400 051
CIN NUMBER - L70100MH1996PLC101379
WEB ADDRESS - www.hdil.in

$\langle \bullet \rangle$

Standalone Cash Flow Statement for the Half year ended 30th September 2025	(Rs. In Lakhs)
Particulars	30th Sept, 2025			30th Sept, 2024
A Cash flow from operating activities Profit for the period Adjustments for: Depreciation and amortisation expense Interest received	117.17 14.13	$-489.74$	129.34 $-9.00$	$-401.26$
Non cash adjustments made during the year Profit on sale of fixed assets Operating profit before working capital changes Movements in working capital :	$\sim$ ×	131.30 $-358.45$	$-19.17$ ۰.	101.17 $-300.09$
Decrease / (Increase) in inventories Decrease / (Increase) in trade receivable Decrease / (Increase) in other receivables (Decrease) / Increase in trade payables Decrease / (Increase) in other financial assets (Decrease) / Increase in financial liabilities	103.95 437.07 $-686.04$		1,777.20 52.01 ٠. 156.06 w. $-279.45$ $-11.58$
(Decrease) / Increase in Other Current Assets (Decrease) / Increase in Other Current Liabilities Net movement in working capital Cash generated from operations Less : Direct taxes paid (net of refunds) Net cash from operating activities (before exceptional items) Exceptional items Net cash from operating activities (after exceptional items) B Cash flows from investing activities Net cash from investing activities	$-212.24$ $-30.06$	$-387.32$ $-745.77$ $-1.13$ $-746.90$ $-746.90$ ٠	$-1,645.25$	49.00 $-251.09$ $-9.70$ $-260.80$ $-20.36$ $-281.16$ ۰
C Cash flows from financing activities Net cash used in financing activities Net decrease in cash and cash equivalents $(A + B + C)$ Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year		$-746.91$ 1,581.31 834.40		$-281.17$ 1.621.82 1,340.65
Components of cash and cash equivalents as at Cash on hand With banks - on current account - on Escrow account - on deposit account - in Overdraft with Bank Total		30th Sept, 2025 68.01 226.68 49.98 489.94 $-0.20$ 834.40		30th Sept, 2024 67.61 248.45 49.98 974.81 $-0.20$ 1,340.65

$\mathbb{R}^d$

Regd. office: 9 - 01, HDIL Towers, Anant Kanekar Marq, Bandra (E) Mumbai 400 051. T+91 22 2658 3500

REPORT OF THE RESOLUTION PROFESSIONA [1+91 22 2658 3535 Lett in

CIN No. L70100MH1996PLC101379

I, Abhay N. Manudhane, have been appointed as an Interim Resolution Professional (IRP) by Hon'ble National Company Law Tribunal (NCLT), Mumbai Bench for conduct of Corporate Insolvency Resolution Process (CIRP) of M/s Housing Development and Infrastructure Ltd (Corporate Debtor) vide Order no. CP (IB) -27/I&BP/MB/2019 dated 20^th August, 2019. Thereafter, the Committee of Creditors (CoC) of the Corporate Debtor appointed the undersigned as Resolution Professional for the Corporate Debtor ("RP").

As per the requirements of Insolvency and Bankruptcy Code, 2016, (Code) the IRP/ RP has to ensure that the Corporate Debtor remains going concern during CIRP. As the Corporate Debtor is a listed Company and is required to prepare and submit quarterly and year to date financial results as per Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR Regulations), the RP ensured preparation and submission of standalone financial results for the quarter and half year ended 30^th September, 2025. The standalone financial results for the half year and quarter ended 30^th September, 2025 enclosed herewith have been drawn as per accounting practices followed by the Corporate Debtor and records available with the Corporate Debtor.

Out of the 5 Directors on the suspended Board of Corporate Debtor (one independent director expired), 3 Non-Executive Independent Directors had tendered resignation, which CoC has not accepted. The Chief Financial Officer and Company Secretary had also resigned. In the absence of the Key Managerial Personnel and other officials who were primarily responsible for closure of accounts and financial reporting, the RP has made all practical and reasonable efforts from time to time to gather details to prepare these financial results, despite various challenges and complex circumstances, has tried to put in best possible efforts to provide information required by the Auditors for the purpose of carrying out the limited review of the financial results of the Corporate Debtor.

has signed these financial results in good faith, solely for the purpose of compliance and discharging his duty under the Code, and subject to the following disclaimers:

$(i)$ The RP has furnished and signed the report in good faith and accordingly, no suit, prosecution or other legal proceeding shall lie against the RP in terms of Section 233 of the Code. The financial results enclosed herewith is accepted by the RP in his fiduciary capacity without accepting any personal liability and is only in compliance with the statutory requirement under Regulation 15(2A) of SEBI LODR Regulations and accordingly, no suit, prosecution or other legal proceeding shall lie against the RP. The RP is not liable for any error or misstatement of facts and figures, if any, in the accounts and/ or any disclosure or non-disclosure in the accounts.
No statement, fact, information (whether current or historical) or opinion contained herein $(ii)$ should be construed as a representation or warranty, express or implied, of the RP including, his authorized representatives and advisors;
(iii) The RP, in review of the financial results and while signing this statement of financial results, has relied upon the assistance provided by the available Officers of the Corporate Debtor. The statement of financial results of the Corporate Debtor for the six months and quarter ended 30th September, 2025 has been taken on record by the RP solely on the basis of and relying on the statement of the management of the Corporate Debtor. For all such information and data, the RP has assumed that such information and data are in the conformity with the Companies Act, 2013 and other applicable laws with respect to the preparation of the financial results. Accordingly, the RP is not making any representations regarding accuracy, veracity or completeness of the data or information in the financial results.
(iv) In terms of the provisions of the Code, the RP is required to undertake a review of certain transactions. Such review has been initiated and the RP may be required to act accordingly in terms of the provisions of the Code.
Previous years figures are regrouped and reclassified wherever necessary. $(v)$

For Housing Development and Infrastructure Limited

· M· megs

Abhay N Manudhane Resolution Professional Registration No.: IBBI/IPA-001/IP-P00054/2017-18/10128 AFA No. AA1/10128/02/210924/106590 valid upto 21/09/24 Date: 13^th January, 2026 Place: Mumbai

dayal and lohia

chartered accountants

Independent Auditor's Limited Review Report on Quarterly and Half Yearly Unaudited Standalone Financial Results of Housing Development & Infrastructure Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To. The Resolution Professional. Housing Development & Infrastructure Limited Mumbai.

1. We have reviewed the accompanying statement of unaudited standalone financial results of Housing Development & Infrastructure Limited ("the Company") for the quarter and half year ended 30^th September, 2025 ("the statement"), attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("the Listing Regulations") as amended.
1. The Company was admitted under the Insolvency and Bankruptcy Code, 2016 ("IBC") on 20^th August 2019 vide the order of Hon'ble NCLT (Mumbai Bench). However, the Interim Resolution Professional ("IRP") took charge of the Corporate Debtor on 26^th August 2019. The Committee of Creditors (CoC) confirmed the appointment of Shri. Abhay Narayan Manudhane as the Resolution Professional ("RP") (IBBI Regn No:IBBI/IPA-001/IP-P00054/2017-18/10128) in their meeting held on 08th January 2020.
1. The preparation of the Statement in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 (Ind AS 34), "Interim Financial Reporting" prescribed under Section 133 of the Companies Act, 2013 as amended, read with relevant rules issued thereunder and other accounting principles generally accepted in India, read with the Circular, is the responsibility of the RP. Our responsibility is to express an opinion on the Statement based on our review.
1. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

703, kohinoor square, n.c. kelkar marg, shivaji park, dadar, mumbai - 400 028. phone: (022) 3507 7087 · e-mail: [email protected] · website: www.dayalandlohia.in GSTIN: 27AAAFD1548C1ZY

BASIS FOR DISCLAIMER OF CONCLUSION

Following, amongst others, are some of the important reasons because of which we were not able to obtain sufficient and appropriate audit evidence in order to form a conclusion:

$1.$ Note from the Resolution Professional ("RP")

Ultimately with available skeleton staff, efforts were made by the RP and his team with the help of professionals to complete the accounts on best effort basis.

3. Opening Balances as on 1st April 2019.

Page 2 of 7

Non-Current Assets - Property, Plant & Equipment $\mathbf{4}$ .

We refer to note 6 of unaudited financial results,

Para 9 of Ind AS 36 states that, "An entity shall assess at the end of each a. reporting period whether there is any indication that an asset may be impaired. If any such indication exists, the entity shall estimate the recoverable amount of the asset."

b. The RP has been unable to amortize the intangible assets due to absence of vital information such as cost of acquisition and useful life.