Hubtown Limited — M&A Activity 2025

Dec 30, 2025

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December 30, 2025

To, BSE Limited National Stock Exchange of India Limited The Corporate Relations Department, The Listing Department, 1[st] Floor, P.J. Towers, Dalal Street, Exchange Plaza, Bandra Kurla Complex, Fort, Mumbai - 400 001, Bandra (East), Mumbai – 400 051, Maharashtra, India Maharashtra, India Scrip Code: 532799 Symbol: HUBTOWN

Dear Sir/Madam,

• Subject: Outcome of the Board Meeting and disclosure of events pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), 2015, as amended read with the applicable circulars issued thereto (“SEBI LODR Regulations”)

With reference to the captioned subject and in furtherance to our intimation dated August 26, 2025, we wish to inform you that the application filed under Regulation 37 of the SEBI LODR Regulations in connection with the proposed composite scheme of arrangement involving Hubtown Limited (" Company ") and (i) Distinctive Realty Private Limited, (ii) Amazia Developers Private Limited and (iii) Nitant Real Estate Private Limited, was returned by the stock exchanges vide their letters each dated December 24, 2025 with advice to submit a fresh application with an updated valuation report based on the latest audited financials of the companies, in accordance with the stock exchange’s Standard Operating Procedure (SOP).

Accordingly, the Board of Directors of the Company at its meeting held today viz. Tuesday, December 30, 2025 have reconsidered and approved the following:

Pursuant to Regulation 30 read with Schedule III of the SEBI LODR Regulations and on the recommendations of the Committee of the Independent Directors and Audit Committee of the Company, the Board of Directors of the Company has reconsidered and accorded fresh approval to the Scheme of Arrangement under Sections 230 to 232, Section 66 and other applicable provisions of the Companies Act, 2013 (“ Act ”) involving the:

• a) Amalgamation of Distinctive Realty Private Limited (“ DRPL ” or “ Transferor Company 1 ”) into and with Amazia Developers Private Limited (“ ADPL ” or “ Transferee Company 1 ”) (“ Amalgamation I ”); and

• b) Amalgamation of Amazia Developers Private Limited (“ ADPL ” or “ Transferor Company 2 ”) and Nitant Real Estate Private Limited (" NREPL " or " Transferor Company 3 ") into and with Hubtown Limited (“ Transferee Company 2 ”) (“ Amalgamation II ”).

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with effect from the Appointed Date viz. beginning of day on October 01, 2025 (“ Scheme ”).

The Scheme is subject to the necessary statutory and regulatory approvals of (i) the National Stock Exchange of India Limited (“ NSE ”) and the BSE Limited ( “BSE” ) (collectively known as “ Stock Exchanges ”); (ii) the shareholders and creditors of the Transferee Company 2 and the Transferor Companies and other parties to the Scheme, as may be directed by the Hon'ble National Company Law Tribunal ( “NCLT” ), (iii) the Hon’ble NCLT; and (iv) any other contractual and regulatory approvals, permissions, consents, sanctions, exemption as may be required under applicable laws, regulations, guidelines in relation to the Scheme and as set out in the Scheme.

The disclosure required under Regulation 30 of the SEBI LODR Regulations, read with Schedule III thereto and the SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, are provided in the enclosed “Annexure A” .

The aforesaid meeting of the Board of Directors of the Company commenced at 06:00 pm (IST) and concluded at 07:30 pm (IST).

We request you to kindly take these submissions on your record and disseminate the same.

Thanking You

For and on behalf of

Hubtown Limited

Shivil Digitally signed by Shivil Kapoor Date: 2025.12.30 Kapoor 21:50:00 +05'30' Shivil Kapoor Company Secretary & Compliance Officer Membership No.: F11865

Enclosures: As above.

Annexure A

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Disclosures pursuant to Regulation 30 of the SEBI LODR Regulations, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023 (“SEBI Circular”)

A) Amalgamation I - Amalgamation of Distinctive Realty Private Limited into and with Amazia Developers Private Limited:

Sr. No.
		Particulars
1.		NAME OF ENTITY(IES) FORMING PART OF THE AMALGAMATION / MERGER, INCLUDING BRIEF DETAILS RELATING TO SIZE, TURNOVER ETC.
1.1.		Details of Transferee Company 1: “Amazia Developers Private Limited”or “ADPL” or “Transferee Company 1”is a private limited company incorporated under the provisions of the Companies Act, 1956, having corporate identity number U45201MH2006PTC165051 and having its registered office at Unit No. 116, First Floor, Rehab Building No. 4, Akruti Annexe, Road No. 7, Marol, MIDC, Andheri (East), Mumbai – 400 093, Maharashtra, India. The securities of the Transferee Company 1 are not listed on any stock exchange in India or abroad. ADPL isa group company, which is being jointly controlled by persons forming part of the Promoter and Promoter Group of the Transferee Company 2.
1.2.		Details of Transferor Company 1: “Distinctive Realty Private Limited” or“DRPL” or “Transferor Company 1”is a private limited company incorporated under the provisions of the Companies Act, 1956, having corporate identity number U45201MH2006PTC165062 and having its registered office at Unit No. 117, First Floor, Rehab Building No. 4, Akruti Annexe, Road No. 7, Marol, MIDC, Andheri (East), Mumbai – 400 093, Maharashtra, India. The securities of the Transferor Company 1 are not listed on any stock exchange in India or abroad. DRPL is a wholly owned subsidiary of Transferee Company 1.
1.3.		Details of net worth and revenue of the Transferee Company and the Transferor Company: (Amount in ₹ in Lakhs) Name of the Companies Net worthNote 1 Total Revenue/ Income As on September 30, 2025 FY 2024-25 ADPL (Transferee Company 1) Note 2 7,997.33 264.53 DRPL(Transferor Company1) (1,690.72) 3.39
		Company:
		Name of the Companies	Net worthNote 1	Total Revenue/ Income
			As on September 30, 2025	FY 2024-25
		ADPL (Transferee Company 1) Note 2	7,997.33	264.53
		DRPL(Transferor Company1)	(1,690.72)	3.39

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		Note 1:Net worth has been considered as per definition under section 2(57) of the Companies Act, 2013. Note 2: Net worth and Total Revenue / Income of Amazia Developers Private Limited viz. Transferee Company1,has been considered on a standalone basis.
	2.	WHETHER THE TRANSACTION WOULD FALL WITHIN RELATED PARTY TRANSACTIONS? IF YES, WHETHER THE SAME IS DONE AT “ARMS LENGTH”?
		The transaction of amalgamation / merger of the Transferor Company 1 with the Transferee Company 1 and their respective shareholders and creditors would fall within the related party transactions under the provisions of the SEBI LODR Regulations. However, the transaction shall not attract compliance with the requirements of Section 188 of the Companies Act, 2013 in view of the clarifications provided in General Circular No. 30/2014 dated July 17, 2014, issued by the Ministry of Corporate Affairs (“MCA Circular”). Further, the Scheme is approved by the Audit Committee of the Transferee Company 2 pursuant to Regulation 23(2) of the SEBI LODR Regulations and is being carried out at arm’s length basis as per the valuation report given by CA Shashank Maloo, a Registered Valuer (IBBI Reg No: IBBI/RV/07/2019/12701), recommending the fair share exchange ratio for discharge of consideration / issuance of the shares by the Transferee Company 2 under the Scheme.
	3.	AREA OF BUSINESS OF THE ENTITY(IES)
	3.1.	Transferee Company 1 is primarily engaged in the real estate business of construction and development of residential and commercial premises through both - on its own and through its subsidiaries/joint ventures/associates companies.
	3.2.	Transferor Company 1 is primarily engaged in the business of developing, building and construction of residential,commercial and industrialpremises.
	4.	RATIONALE FOR AMALGAMATION/ MERGER
		A. Transferor Company 1, Transferor Company 2 and Transferor Company 3 (hereinafter collectively known as “Merging Companies”) are group companies, which are being jointly controlled, directly or indirectly, by persons forming part of the Promoter and Promoter Group of Transferee Company 2. B. The Merging Companies collectively hold 98.86% stake in Twenty Five South Realty Limited (“TFSRL”), which is currently developing a super-luxury residential project named ‘25 South’ located at Prabhadevi, Mumbai. TFSRL further holds 75% equity stake in Twenty Five Downtown Realty Limited (“TFDRL”) which is currently developing a super-luxury residential project named ‘25 Downtown’ located adjacent to the Willingdon Golf Club, Mahalaxmi. The balance 25% equity stake in TFDRL is held byTransferee Company2 viz. Hubtown Limited. The saidprojects are

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envisioned as a premium high-end residential developments, strategically located in a prime areas of Mumbai, offering modern amenities. In light of their prime location and design attributes, the said projects are expected to attract significant interest from homebuyers and investors thereby contributing meaningfully to the growth trajectory, market standing and financial positions of the Merging Companies.

• C. Considering the increasing demand for premium real estate in Mumbai and the unique features and location advantages of ‘25 South’ and ‘25 Downtown’, the said projects are anticipated to generate substantial financial returns for the Merging Companies.

• D. Given that Transferor Company 1 is a wholly owned subsidiary of the Transferee Company 1, it is proposed to first amalgamate Transferor Company 1 into and with the Transferee Company 1 (“ Amalgamation I ”) and immediately upon coming into effect of Amalgamation I, it is proposed to amalgamate Transferor Company 2 and Transferor Company 3 into and with the Transferee Company 2 (“ Amalgamation II ”), with effect from the Appointed Date of October 01, 2025 (“ Mergers ”).

• E. The proposed Mergers are also intended to enhance the investment profile of the consolidated entity by aligning high-potential real estate assets with a broader business platform of the Transferee Company 2 and at the same time, discharge the consideration for acquisition / aggregation of ‘25 South’ and ‘25 Downtown’ through the merger of the Merging Companies into the Transferee Company 2, in the manner as stated in Para D above, in non-monetary form by issue of its equity shares to the shareholders of the Merging Companies. The integration is expected to position the Transferee Company 2 more favorably in the eyes of the existing and prospective shareholders, lenders and strategic partners, and further strengthen its standing as a key player in the real estate and infrastructure development sector.

• F. In addition to the above, the merger / amalgamation of the Merging Companies with the Transferee Company 2, in the manner as stated in Para D above, will also provide ancillary benefits in the form of administrative and operational rationalization and promote organizational efficiencies with the achievement of greater economies of scale, reduction in overheads and improvement in various other operating parameters including administrative, managerial and other expenditure, and optimal utilization of resources by elimination of duplication of activities and related costs.

• G. Thus, with an intent to achieve aforesaid objectives and further in order to consolidate, streamline and effectively merge the Merging Companies and the Transferee Company 2 in a single entity it is intended that the Merging Companies be merged / amalgamated with the Transferee Company 2, in the manner as stated in Para D above.

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		H. In view of the aforesaid objectives, the Board of Directors of the Merging Companies and the Transferee Company 2 have considered and proposed the amalgamation for the transfer and vesting of the Undertaking of Transferor Company 1 (as defined hereinafter) and Undertaking of Transferor Companies (as defined hereinafter) and business of the Merging Companies with and into the Transferee Company 2, in the manner as stated in Para D above, and other ancillary and incidental matters stated herein, with an opinion that the amalgamation and other provisions of the Scheme would benefit the shareholders, employees and other stakeholders of the Merging Companies and the Transferee Company 2. I. The amalgamation of the Merging Companies with the Transferee Company 2, in the manner as stated in Para D above, will combine the business, activities and operations of the Merging Companies and the Transferee Company 2 into a single company with effect from the Appointed Date and shall be in compliance with the provisions of the Income-tax Act, 1961 including Section 2(1B) thereof or any amendments thereto.
	5.	IN CASE OF CASH CONSIDERATION – AMOUNT OR OTHERWISE SHARE EXCHANGE RATIO
		Transferor Company 1 is wholly owned subsidiary of Transferee Company 1. The entire share capital of Transferor Company 1 is directly or indirectly held by Transferee Company 1. Hence, upon the Scheme becoming effective, no shares of Transferee Company 1 shall be allotted in lieu or exchange of the shares of Transferor Company 1. Upon the Scheme becoming effective, the entire share capital of Transferor Company 1 shall be cancelled and extinguished.
	6.	BRIEF DETAILS OF CHANGE IN SHAREHOLDING PATTERN(IF ANY) OF LISTED ENTITY
		As stated in point 5 above, upon the Scheme becoming effective, no shares of Transferee Company 1 shall be allotted in lieu or exchange of the shares of Transferor Company 1 and as such there will be no change in the shareholding pattern of Transferee Company 1.

B) Amalgamation II - Amalgamation of Amazia Developers Private Limited and Nitant Real Estate Private Limited into and with Hubtown Limited:

Sr. No.
	Particulars
	NAME OF ENTITY(IES) FORMING PART OF THE AMALGAMATION / MERGER, INCLUDING BRIEF DETAILS RELATING TO SIZE, TURNOVER ETC.
1.
1.1.	Details of Transferee Company:

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“ Hubtown Limited ” or “ HL ” or “ Transferee Company 2 ” is a public limited company incorporated under the provisions of the Companies Act, 1956, having corporate identity number L45200MH1989PLC050688 and having its registered office at Hubtown Seasons, CTS No. 469-A, Opp. Jain Temple, R.K. Chemburkar Marg, Chembur (East), Mumbai – 400 071, Maharashtra India. The equity shares of the Transferee Company 2 are listed on BSE “ ” “ ” Limited ( BSE ) as well as on National Stock Exchange of India Limited ( NSE ). 1.2. Details of Transferor Company 2:

“Amazia Developers Private Limited” or “ADPL” or “ Transferor Company 2 ” is a private limited company incorporated under the provisions of the Companies Act, 1956, having corporate identity number U45201MH2006PTC165051 and having its registered office at Unit No. 116, First Floor, Rehab Building No. 4, Akruti Annexe, Road No. 7, Marol, MIDC, Andheri (East), Mumbai – 400 093, Maharashtra, India. The securities of the Transferor Company 2 are not listed on any stock exchange in India or abroad. ADPL is a group company, which is being jointly controlled by persons forming part of the Promoter and Promoter Group of the Transferee Company 2.

Details of Transferor Company 3:

“ Nitant Real Estate Private Limited ” or “ NREPL ” or “ Transferor Company 3 ” is a private limited company incorporated under the provisions of the Companies Act, 1956, having corporate identity number U70102MH2010PTC205729 and having its registered office at Hindoostan Mills Compound, Kashinath Dhuri Marg, Off Veer Savarkar Marg, Near Siddhi Vinayak Mandir, Mumbai – 400 025, Maharashtra, India. The securities of the Transferor Company 3 are not listed on any stock exchange in India or abroad. NREPL is a group company, which is being indirectly controlled by persons forming part of the Promoter and Promoter Group of the Transferee Company 2.

• 1.3. Details of net worth and revenue of the Transferee Company and the Transferor Company:

		(Amount in ₹ in Lakhs) Total Revenue/ Income FY 2024-25 38,718.64 264.53 914.05
Name of the Companies	Net worthNote 1	Total Revenue/ Income
	As on September 30, 2025	FY 2024-25
HL(Transferee Company2)Note 2	2,81,421.23	38,718.64
ADPL (Transferor Company 2) Note 2	7,997.33	264.53
NREPL(Transferor Company3)	(1,734.82)	914.05

Note 1: Net worth has been considered as per definition under section 2(57) of the Companies Act, 2013. Note 2 : Net worth and Total Revenue / Income of Hubtown Limited viz. Transferee

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		Company 2 and Amazia Developers Private Limited viz. Transferor Company 2, has been considered on a standalone basis.
	2.	WHETHER THE TRANSACTION WOULD FALL WITHIN RELATED PARTY TRANSACTIONS? IF YES, WHETHER THE SAME IS DONE AT “ARMS LENGTH”?
		The transaction of amalgamation / merger of the Transferor Company 2 and Transferor Company 3 with the Transferee Company 2 and their respective shareholders and creditors would fall within the related party transactions under the provisions of the SEBI LODR Regulations. However, the transaction shall not attract compliance with the requirements of Section 188 of the Companies Act, 2013 in view of the clarifications provided in General Circular No. 30/2014 dated July 17, 2014, issued by the Ministry of Corporate Affairs (“MCA Circular”). Further, the Scheme is approved by the Audit Committee of the Transferee Company 2 pursuant to Regulation 23(2) of the SEBI LODR Regulations and is being carried out at arm’s length basis as per the valuation report given by CA Shashank Maloo, a Registered Valuer (IBBI Reg No: IBBI/RV/07/2019/12701), recommending the fair share exchange ratio for discharge of consideration / issuance of the shares by the Transferee Company 2 under the Scheme.
	3.	AREA OF BUSINESS OF THE ENTITY(IES)
	3.1.	Transferee Company 2 is primarily engaged in the business of construction and development of residential and commercial premises, Build Operate Transfer (BOT) Projects, etc. either directly and / or through its subsidiaries / joint ventures / associate companies.
	3.2.	Transferor Company 2 is primarily engaged in the real estate business of construction and development of residential and commercial premises through both - on its own and through its subsidiaries/joint ventures/associates companies.
	3.3.	Transferor Company 3 is primarily engaged in the business of developing, building and construction of residential,commercial and industrialpremises.
	4.	RATIONALE FOR AMALGAMATION/ MERGER
		Please refer Point No. 4 in disclosurepart A)above – details relatingto Amalgamation I.
	5.	IN CASE OF CASH CONSIDERATION – AMOUNT OR OTHERWISE SHARE EXCHANGE RATIO
		Upon the Scheme becoming effective, in consideration of the Amalgamation II, and based on the valuation report issued by CA Shashank Maloo, a Registered Valuer (IBBI Reg No: IBBI/RV/07/2019/12701), which is confirmed by the fairness opinion issued by 3Dimension Capital Services Limited, a SEBI Registered Category-I Merchant Banker (SEBI Reg. No: INM000012528), the equity shares of the Transferee Company 2 are proposed to be issued and allotted to the shareholders of the Transferor Company 2 and Transferor Company 3 in the following Share Exchange Ratio: “The Transferee Company 2 shall without any further act or deed, issue and allot 6,221 _(Six Thousand Two Hundred and Twenty-One) equity shares of face value of INR 10/- _

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(Indian Rupees Ten Only) each of the Transferee Company 2, for every 1 (One) fully paid-up equity shares of face value of INR 10/- (Indian Rupees Ten Only) each of the Transferor Company 2.”

“The Transferee Company 2 shall without any further act or deed, issue and allot 16 (Sixteen) equity shares of face value of INR 10/- (Indian Rupees Ten Only) each of the Transferee Company 2, for every 1 (One) fully paid-up equity shares of face value of INR 10/- (Indian Rupees Ten Only) each of the Transferor Company 3.”

The equity shares of the Transferee Company 2 to be issued and allotted to the shareholders of the Transferor Company 2 and Transferor Company 3, pursuant to the Scheme shall hereinafter be referred to as the “ New Equity Shares ”.

The indicative value of the equity shares of Hubtown Limited to be issued to the aforesaid Transferor Companies is approximately INR 980/- per 1 (One) equity share of face value of INR 10/- (Indian Rupees Ten Only) each.

The New Equity Shares to be issued and allotted pursuant to the Scheme shall rank pari passu with the existing equity shares of the Transferee Company 2 in all respects including dividends, if any, that may be declared by the Transferee Company 2 on or after the Scheme becoming effective, as the case may be, and shall be listed and admitted for trading on the Stock Exchange by virtue of the Scheme.

6. BRIEF DETAILS OF CHANGE IN SHAREHOLDING PATTERN (IF ANY) OF LISTED ENTITY

The Board of Directors of Hubtown Limited and Saicharan Consultancy Private Limited (“ SCPL ”), at their respective Board Meetings dated February 14, 2025, had approved the Scheme of Arrangement in the nature of merger / amalgamation of SCPL with HL and their respective shareholders and creditors under sections 230-232 of the Companies Act, 2013 (“ HL-SCPL Scheme ”). The No-Objection letter as required under Regulation 37 of the SEBI LODR Regulations in respect of the HL-SCPL Scheme has been received from the Stock Exchanges. The Company is in the process of filling an application before the Hon’ble NCLT.

Further, the Board of Directors of Hubtown Limited and 25 West Realty Private Limited (“ 25 WRPL ”), at their respective Board Meetings dated June 30, 2025, had approved the Scheme of Arrangement in the nature of merger / amalgamation of 25 WRPL with HL and their respective shareholders and creditors under sections 230-232 of the Companies Act, 2013 (“ HL-25 WRPL Scheme ”). The No-Objection letter as required under Regulation 37 of the SEBI LODR Regulations in respect of the HL-25 WRPL Scheme has been received from the Stock Exchanges. The Company is in the process of filling an application before the Hon’ble NCLT.

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		Details of equity shareholding pattern of HL: A. Without considering the impact of the impending HL-SCPL Scheme and HL-25 WRPL Scheme: Category Pre-Scheme (as on September 30, 2025) Post Scheme (as on September 30, 2025) No. of equity shares of INR 10/- each % of Equity Shareholding No. of equity shares of INR 10/- each % of Equity Shareholding Promoter and Promoter Group 4,97,70,414 35.02% 16,01,40,414 63.43% Public Shareholders 9,23,30,243 64.98% 9,23,30,243 36.57% Total 14,21,00,657 100.0% 25,24,70,657 100.00% B. After considering the proposed issuance of (i) 64,80,000 equity shares by Hubtown Limited under the impending HL-SCPL Scheme; and (ii) 4,20,00,000 equity shares by Hubtown Limited under the impending HL-25 WRPL Scheme as aforesaid: Category Pre-Scheme (as on September 30, 2025) Post Scheme (as on September 30, 2025) No. of equity shares of INR 10/- each % of Equity Shareholding No. of equity shares of INR 10/- each % of Equity Shareholding Promoter and Promoter Group 9,82,50,414 51.55% 20,86,20,414 69.32% Public Shareholders 9,23,30,243 48.45% 9,23,30,243 30.68% Total 19,05,80,657 100.0% 30,09,50,657 100.00%	Details of equity shareholding pattern of HL: A. Without considering the impact of the impending HL-SCPL Scheme and HL-25 WRPL Scheme: Category Pre-Scheme (as on September 30, 2025) Post Scheme (as on September 30, 2025) No. of equity shares of INR 10/- each % of Equity Shareholding No. of equity shares of INR 10/- each % of Equity Shareholding Promoter and Promoter Group 4,97,70,414 35.02% 16,01,40,414 63.43% Public Shareholders 9,23,30,243 64.98% 9,23,30,243 36.57% Total 14,21,00,657 100.0% 25,24,70,657 100.00% B. After considering the proposed issuance of (i) 64,80,000 equity shares by Hubtown Limited under the impending HL-SCPL Scheme; and (ii) 4,20,00,000 equity shares by Hubtown Limited under the impending HL-25 WRPL Scheme as aforesaid: Category Pre-Scheme (as on September 30, 2025) Post Scheme (as on September 30, 2025) No. of equity shares of INR 10/- each % of Equity Shareholding No. of equity shares of INR 10/- each % of Equity Shareholding Promoter and Promoter Group 9,82,50,414 51.55% 20,86,20,414 69.32% Public Shareholders 9,23,30,243 48.45% 9,23,30,243 30.68% Total 19,05,80,657 100.0% 30,09,50,657 100.00%	Details of equity shareholding pattern of HL: A. Without considering the impact of the impending HL-SCPL Scheme and HL-25 WRPL Scheme: Category Pre-Scheme (as on September 30, 2025) Post Scheme (as on September 30, 2025) No. of equity shares of INR 10/- each % of Equity Shareholding No. of equity shares of INR 10/- each % of Equity Shareholding Promoter and Promoter Group 4,97,70,414 35.02% 16,01,40,414 63.43% Public Shareholders 9,23,30,243 64.98% 9,23,30,243 36.57% Total 14,21,00,657 100.0% 25,24,70,657 100.00% B. After considering the proposed issuance of (i) 64,80,000 equity shares by Hubtown Limited under the impending HL-SCPL Scheme; and (ii) 4,20,00,000 equity shares by Hubtown Limited under the impending HL-25 WRPL Scheme as aforesaid: Category Pre-Scheme (as on September 30, 2025) Post Scheme (as on September 30, 2025) No. of equity shares of INR 10/- each % of Equity Shareholding No. of equity shares of INR 10/- each % of Equity Shareholding Promoter and Promoter Group 9,82,50,414 51.55% 20,86,20,414 69.32% Public Shareholders 9,23,30,243 48.45% 9,23,30,243 30.68% Total 19,05,80,657 100.0% 30,09,50,657 100.00%	Details of equity shareholding pattern of HL: A. Without considering the impact of the impending HL-SCPL Scheme and HL-25 WRPL Scheme: Category Pre-Scheme (as on September 30, 2025) Post Scheme (as on September 30, 2025) No. of equity shares of INR 10/- each % of Equity Shareholding No. of equity shares of INR 10/- each % of Equity Shareholding Promoter and Promoter Group 4,97,70,414 35.02% 16,01,40,414 63.43% Public Shareholders 9,23,30,243 64.98% 9,23,30,243 36.57% Total 14,21,00,657 100.0% 25,24,70,657 100.00% B. After considering the proposed issuance of (i) 64,80,000 equity shares by Hubtown Limited under the impending HL-SCPL Scheme; and (ii) 4,20,00,000 equity shares by Hubtown Limited under the impending HL-25 WRPL Scheme as aforesaid: Category Pre-Scheme (as on September 30, 2025) Post Scheme (as on September 30, 2025) No. of equity shares of INR 10/- each % of Equity Shareholding No. of equity shares of INR 10/- each % of Equity Shareholding Promoter and Promoter Group 9,82,50,414 51.55% 20,86,20,414 69.32% Public Shareholders 9,23,30,243 48.45% 9,23,30,243 30.68% Total 19,05,80,657 100.0% 30,09,50,657 100.00%	Details of equity shareholding pattern of HL: A. Without considering the impact of the impending HL-SCPL Scheme and HL-25 WRPL Scheme: Category Pre-Scheme (as on September 30, 2025) Post Scheme (as on September 30, 2025) No. of equity shares of INR 10/- each % of Equity Shareholding No. of equity shares of INR 10/- each % of Equity Shareholding Promoter and Promoter Group 4,97,70,414 35.02% 16,01,40,414 63.43% Public Shareholders 9,23,30,243 64.98% 9,23,30,243 36.57% Total 14,21,00,657 100.0% 25,24,70,657 100.00% B. After considering the proposed issuance of (i) 64,80,000 equity shares by Hubtown Limited under the impending HL-SCPL Scheme; and (ii) 4,20,00,000 equity shares by Hubtown Limited under the impending HL-25 WRPL Scheme as aforesaid: Category Pre-Scheme (as on September 30, 2025) Post Scheme (as on September 30, 2025) No. of equity shares of INR 10/- each % of Equity Shareholding No. of equity shares of INR 10/- each % of Equity Shareholding Promoter and Promoter Group 9,82,50,414 51.55% 20,86,20,414 69.32% Public Shareholders 9,23,30,243 48.45% 9,23,30,243 30.68% Total 19,05,80,657 100.0% 30,09,50,657 100.00%	Details of equity shareholding pattern of HL: A. Without considering the impact of the impending HL-SCPL Scheme and HL-25 WRPL Scheme: Category Pre-Scheme (as on September 30, 2025) Post Scheme (as on September 30, 2025) No. of equity shares of INR 10/- each % of Equity Shareholding No. of equity shares of INR 10/- each % of Equity Shareholding Promoter and Promoter Group 4,97,70,414 35.02% 16,01,40,414 63.43% Public Shareholders 9,23,30,243 64.98% 9,23,30,243 36.57% Total 14,21,00,657 100.0% 25,24,70,657 100.00% B. After considering the proposed issuance of (i) 64,80,000 equity shares by Hubtown Limited under the impending HL-SCPL Scheme; and (ii) 4,20,00,000 equity shares by Hubtown Limited under the impending HL-25 WRPL Scheme as aforesaid: Category Pre-Scheme (as on September 30, 2025) Post Scheme (as on September 30, 2025) No. of equity shares of INR 10/- each % of Equity Shareholding No. of equity shares of INR 10/- each % of Equity Shareholding Promoter and Promoter Group 9,82,50,414 51.55% 20,86,20,414 69.32% Public Shareholders 9,23,30,243 48.45% 9,23,30,243 30.68% Total 19,05,80,657 100.0% 30,09,50,657 100.00%
				Pre-Scheme (as on September 30, 2025)		Post Scheme (as on September 30, 2025)
			Category	No. of equity shares of INR 10/- each		No. of equity shares of INR 10/- each
					% of Equity Shareholding		% of Equity Shareholding
			Promoter and Promoter Group	9,82,50,414	51.55%	20,86,20,414	69.32%
			Public Shareholders	9,23,30,243	48.45%	9,23,30,243	30.68%
			Total	19,05,80,657	100.0%	30,09,50,657	100.00%