Lodha Developers Limited — Audit Report / Information 2021

Nov 11, 2021

November 11, 2021

The Listing Dept., BSE Limited Corporate Relationship Department Phiroze Jeejeebhoy Towers Dalal Street Mumbai- 400001

The Listing Dept. National Stock Exchange of India Limited Exchange Plaza, C-1, Block G Bandra Kurla Complex Bandra (E), Mumbai – 400 051

Scrip Code: 543287 Scrip ID:-LODHA

Trading Symbol : LODHA Debt Segment - DB - LDPL23 & DB-LODL23

Sub: Monitoring Agency Report for the quarter ended September 30, 2021

Ref.: 1. Regulation 41 (4) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations"); and

2. Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations")

Dear Sir/Madam,

Pursuant to the aforesaid SEBI ICDR and Listing Regulations, please find enclosed herewith the Monitoring Agency Report for the quarter ended September 30, 2021 issued by Kotak Mahindra Bank Limited, Monitoring Agency, appointed to monitor the utlisation of proceeds of the Initial Public Offer of the Company.

Further, we confirm that there has been no deviation in utlisation of the Initial Public Offer proceeds from the objects stated in the Prospectus dated April 10, 2021

The aforesaid report is being made available on the Company's website i.e. www.lodhagroup.in

Request you to please take the above on record.

Thanking you,

Yours faithfully, For Macrotech Developers Limited

Sanjyot Rangnekar Company Secretary & Compliance Officer Membership No. F4154

Encl:- A/a

Kotak Mahindra Bank

CERTIFICATE FORMAT

Report of the Monitoring Agency

Name of the Issuer: Macrotech Developers Limited For quarter ended: September 30, 2021 Name of the Monitoring Agency: Kotak Mahindra Bank Ltd.

(a) Deviation from the objects: No deviation is observed in the utilisation of issue proceeds

• Utilization different from Objects of the Offer stated in the Prospectus but in line with change of objects approved by shareholders' resolution: or

• Utilization neither in line with Objects of the Offer stated in the Prospectus nor approved by shareholders' resolution

$-$ In case there is no deviation, the same shall be stated.

(b) Range of Deviation*: NA

Indicate range of percentage deviation from the amount of issue proceeds earmarked for objects. For example, up to 10%, 10 -25%, 25-50%, 50-75%, 75-100%, not ascertainable etc.

* The range of deviation may be computed by taking weighted average of financial deviation of each object in the ratio of issue proceeds allocated for it. Non-financial deviation may be indicated separately by way of notes.

Declaration:

We declare that this report is based on the format prescribed by the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended. We further declare that this report provides a true and fair view of the utilization of the Offer proceeds.

We declare that we do not have any direct/indirect interest in or relationship with the Company, its promoters, directors, management and also confirm that we do not perceive any conflict of interest in such relationship/interest while monitoring and reporting the utilization of the Offer proceeds by the Company.

Capitalized terms not defined herein shall have the meaning ascribed to them in the Monitoring Agency Agreement dated March 30, 2021 entered into with the Company and the Monitoring Agency.

rehex fhander Signature: Name of the Authorized Person/Signing Authority: $\int_{A/F} kH \theta R \hat{\beta}$ HANDARI

Designation of Authorized Person/Signing Authority: $\hat{P}_R \varepsilon \hat{S}/D \varepsilon N^T$

Seal of the Monitoring Agency:

$09/11/2021$ Date:

Kotak Mahindra Bank Ltd. CIN: L65110MH1985PLC038137

27 BKC, 2nd Floor, G Block Bandra Kurla Complex (BKC) Bandra (E), Mumbai - 400 051 Maharashtra

T+91 022 61661170 www.kotak.com

Registered Office: 27 BKC, C 27, G Block, Bandra Kurla Complex. Bandra (E), Mumbai 400051. Maharashtra, India.

Kotak Mahindra Bank

Subsequent Pages:

1) Issuer Details:
Name of the issuer: Macrotech Developers Limited
Names of the promoter: Abhishek Mangal Prabhat Lodha, Rajendra Narpatmal Lodha,
Sambhavnath Infrabuild & Farms Private Limited and Sambhavnath Trust
Industry/sector to which it belongs: Real Estate
2) Offer Details:
Offer Period: April 7, 2021 to April 9, 2021
Type of issue (public/rights): Initial Public Offering
Type of specified securities: Equity Shares
Public issue Grading, if any: No credit rating agency registered with SEBI has been appointed for grading the Issue.
Offer size (` in Crore): ₹ 2,500 Crore
3) Details of the arrangement made to ensure the monitoring of Offer proceeds:
(Give item by item description for all the objects stated in offer document separately in following format)
		Comments of	Comments of
Particulars	Reply	the Monitoring	the Board of
		Agency	Directors
Whether all utilization is as per the disclosures in the	Yes/No	Yes
Prospectus? Whether shareholder approval has been obtained in
case of material deviations# from expenditures	Yes/No	NA
disclosed in the Prospectus?
Whether the means of finance for the disclosed
Objects of the Offer has changed?	Yes/No	No
Is there any major deviation observed over the earlier
monitoring agency reports?	Yes/No	NA
Whether all Government/statutory approvals related
to the Object(s) of the Offer have been obtained?	Yes/No	NA
Whether all arrangements pertaining to technical	Yes/No	NA
assistance/collaboration are in operation?
Are there any favorable events improving the	Yes/No	NA
viability of these Object(s) of the Offer?
Are there any unfavorable events affecting the	Yes/No	NA
viability of the Object(s) of the Offer?
Is there any other relevant information that may
materially affect the decision making of the	Yes/No	No
investors?
*Where material deviation may be defined to mean:
a) Deviation in the objects or purposes for which the funds have been raised
b) Deviation in the amount of fund actually utilized by more than 10% of the amount projected in the offer documents.

Kotak Mahindra Bank Ltd. CIN: L65110MH1985PLC038137 $\mathcal{L}_{\mathcal{A}}$

27 BKC, Plot No C-27, G Block Bandra Kurla Complex
Bandra Kurla Complex
Bandra (East), Mumbai - 400 051

www.kotak.com

Registered Office: 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra Kana Compick,
Bandra (E), Mumbai 400051,
Maharashtra, India.

$\Delta$

Kotak Mahindra Bank

4) Details of Object(s)s of the Offer to be monitored:

$\circ$ Cost of Object(s) of the Offer-

							In $\bar{\tau}$ Crore
		Original				Comments of Board of Directors
S		Cost (as		Comment	Reaso		Particular
1.	Item Head	per Offer	Revise	of $S - 1$	0f n	Proposed	s of firm
N		Document	d Cost	Monitorin	cost	financing	arrangem
$\bf{0}$		s)		g Agency	revisi	option	ents
					oп		made
	Reduction of the outstanding aggregate		NA
	borrowings of Company on a consolidated	1500.00
	basis;
2.	Acquisition of land or land development rights	375.00	NA
3.	General corporate purposes	532.77	NA
	Total	2,407.77

$(ii)$ Progress in the Object(s) of the Offer-

									In $\bar{\tau}$ Crore
		Amount as.	Amount utilized			Total	Co. mm ents	Comments Board Directors	of of
Sr. No	Item Heads	proposed in Prospect us	As at Beginnin g of the quarter	Durin - g the quart er	the At end of the quarter	unutiliz ed Amoun	of Mo nito ring Age ncy	Reas on of idle funds	Propose đ Course of Action
1.	of Reduction the aggregate outstanding of borrowings consolidated Company on a basis;	1500.00	1500		1,500.00	0.00		$\rightarrow$
2.	Acquisition of land or land development rights	375,00	83.69	80.43	164.12	210.88		۰.
3.	General corporate purposes	532.77	532.77		532.77	0.00	$\overline{\phantom{a}}$	$\rightarrow$
	Total	2,407.77	2,116.46		2,196.89	210.88

$(iii)$ Deployment of unutilized Offer proceeds-

							$ln \zeta$ Crore
$S_{I}$ $\bullet$ N 0	Type of instrument and name of the entity invested in	FD No. (or) A/C No.	Amount	Maturity date	Earning (Pre- S. tax)	Return on Investmen (96)	Market Value as at the end of quarter*
	Yes Bank Ltd.	000140600128639	30.00	16-Apr-23	0.83	6.05%	30.83
2	Yes Bank Ltd.	000140600128679	30.00	$16$ -Apr-23	0.83	6.05%	30.83
3	Yes Bank Ltd.	000140600128689	30.00	16-Apr-23	0.83	6.05%	30.83
4	Yes Bank Ltd.	000140600128629	30.00	16-Apr-23	0.83	6.05%	30.83
5	Yes Bank Ltd.	000140600128619	30.00	16-Apr-23	0.83	6.05%	30.83
6	Yes Bank Ltd.	000140600128609	30.00	$16$ -Apr-23	0.83	6.05%	30.83
7	Yes Bank Ltd.	000140600128596	30.00	$16-Apr-23$	0.83	6.05%	30.83
$\mathbf{R}$	As on September 30, 2021 Monitoring Agency A/C Balance (1.97 Cr.) Minus Interest on FDs in the Monitoring Agency $A/C$ (1.08 Cr.)	7745100194	0.88				0.88
	Total		210.88				216.69

Kotak Mahindra Bank Ltd. CIN: L65110MH1985PLC038137 27 BKC, Plot No C-27, G Block

Bandra Kurla Complex Bandra (East), Mumbai - 400 051 Registered Office: 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai 400051, Maharashtra, India.

www.kotak.com

kotak

Kotak Mahindra Bank

Object(s)	Completion Date		(No. Delay	Comments of Board of Directors
Name	As per Prospectus	Actual *	οf days/	Reason	of Proposed Course of
			months)	delay	Action
NA	NA	ΝA	NA	NA	NA
	* In case of continuing object(s) please specify latest/revised estimate of completion date.

Kotak Mahindra Bank Ltd. CIN: L65110MH1985PLC038137

27 BKC, Plot No C-27, G Block Bandra Kurla Complex
Bandra Kurla Complex
Bandra (East), Mumbai - 400 051 Registered Office: 27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai 400051,
Maharashtra, India.

www.kotak.com