Lodha Developers Limited — Capital/Financing Update 2022

Feb 8, 2022

February 8, 2022

The Listing Dept., The Listing Dept. Corporate Relationship Department Exchange Plaza, C-1, Block G Phiroze Jeejeebhoy Towers Bandra Kurla Complex Dalal Street Bandra (E), Mumbai — 400 051 Mumbai- 400001 Trading Symbol : LODHA Scrip Code: 543287 Scrip ID:-LODHA Debt Segment - DB - LDPL23

BSE Limited National Stock Exchange of India Limited

Sub: Monitoring Agency Report for the quarter ended December 31, 2021

Dear Sir/Madam,

Pursuant to Regulation 41 (4) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 ("SEBI ICDR Regulations") and Regulation 32(6) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), please find enclosed herewith the Monitoring Agency Report for the quarter ended December 31, 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 utilization of proceeds and the entire funds raised by the company through the Initial Public Offer have been utilized for 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:- Ala

Kotak Mahindra Bank

CERTIFICATE FORMAT

Report of the Monitoring Agency

Name of the Issuer: Macrotech Devefopers Limited For quarter ended: December 31, 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 bit in line with change of objects approved by shareholders resolution; :

— 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 af each object in the ratio of issue proceeds allocated for it, Non-financial deviation may be indicated separately by way of notes.

Declaration:

or

We declare that this report is based on the format prescribed by the Securities and Exchange Board of fidia (Issue af 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 relationshipfinterest 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

Signature:

Name of the AuthorZ Person/Signing Authority: Anurag Goenka

Designation of Authorized Person/Signing Authority: Executive Vice President

Seal of the Monitoring Agency:

Date: 07" February, 2022

Kotak Mahindra Bank Lid. Registered Office: CIN; L65110MH1985PLC038137 27 BKC, C27, G Block,

27 BKC, 2nd Floor, G Block Bandra Kurla Complex, Bandra Kurla Complex {BKC) T +94 0622 61661170 Bandra (£}, Mumbai 400051, Bandra {E), Mumbai - 406051 www. kotak.com Maharashtra, India.

		Mahindra Bank Kotak
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, 202 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): = 2,506 Crore
3) Detatis 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
Particulars	Reply	Comments of the Monitoring the Agency	j Comments of Board of Directors
Whether all utilization is as per the disclosures in the Prospectus?	Yes/No	Yes	_
Whether shareholder approval has been obtained in expenditures Yes/No deviations# material from case of disclosed in the Prospectus?		NA	-
Whether means of finance disclosed the for the Objects of the Offer has changed?	Yes/No	No	-
Is there any major deviation observed over the earlier monitoring agency reports?	Yes/No	NA	-

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, 202 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): = 2,506 Crore 3) Detatis 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
Particulars	Reply	the Monitoring the Agency	Board of Directors
Whether all utilization is as per the disclosures in the Prospectus?	Yes/No	Yes	_
Whether shareholder approval has been obtained in expenditures Yes/No deviations# material from case of disclosed in the Prospectus?		NA	-
Whether means of finance disclosed the for the 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 arrangements pertaining technical to afl assistance/collaboration are in operation?	Yes/No	NA	"
improving Are favorable any events there the viability of these Object(s) of the Offer?	Yes/No	NA	"
unfavorable Are any events affecting there the viability of the Object(s) of the Offer? @	Yes/No	NA	"
may information other relevant there any that Is making materially decision affect of the investors?	the Yes/No	No	-
*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.

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. Registered Office: CIN: £65110: SPLCO3813 MH\$98 137 27 BKC, ¢ 27, G Block,

27 BKC, 2nd Floor, G Block Bandra Kurla Complex, Bandra Kurla Complex (BKC} JT +91 022 61687170 Bandra {E), Mumbai 400051, Bandra (E), Mumbai - 400051 www,kotak.com Maharashtra, india.

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

$(i)$ Cost of Object(s) of the Offer $ln \bar{\tau}$ Crore Comments of Board of Directors Original S Comment Reaso Particular $Cost$ (as 1. Revise of Proposed s of firm of $\mathbf{r}$ S Item Head per Offer N d Cost Monitorin cost financing arrangem Document option $\circ$ g Agency revisi cnts $s)$ $_{\rm OH}$ made Reduction of the aggregate outstanding NA 1500.00 $1.$ borrowings of Company on a consolidated $\overline{a}$ basis; $\overline{2}$ Acquisition of land or land development rights 375.00 NA L. l. J. L. $\overline{3}$ . General corporate purposes 532.77 NA $\overline{a}$ $\overline{a}$ $\overline{a}$ Total 2,407.77

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

	In $\zeta$ Crores
	Item Heads	Amount as proposed in Prospect us	Amount utilized	Total	Co mm ents	of Comments οf Board Directors
Sr. No			As at Beginni ng of the quarter	During the quarter	Αt the οf end the quarter	unutil ized Amo unt	of Mo nito ring Age ncy	Reas on of idle funds	Propose đ Course of Action
$\mathbf{1}$	of Reduction the aggregate outstanding borrowings of consolidated Company on a basis:	1500.00	1,500.00	$\blacksquare$	1,500.00	0.00	$\blacksquare$
2.	Acquisition of land land or development rights	375.00	164.12	210.88*	375.00	0.00	÷
3.	General corporate purposes	532.77	532.77	$\mathbf{u}$	532.77	0.00	$\overline{\phantom{0}}$	$\blacksquare$
	Total	2.407.77	2,196.89	210.88	2,407.77	0.00	$\blacksquare$

$(iii)$ Deployment of unutilized Offer proceeds-INR 0.80 balance as on 31^st December, 2021

							m s crore
Sr N $\ddot{\mathbf{0}}$	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 $\%$	Market Value as at end the -est quarter*

$(iv)$ Delay in implementation of the Object(s) of the Offer-

	Object(s)	Completion Date			Delav	(No. Comments of Board of Directors
	Name	As per Prospectus	Actual $*$	οt	days/	Reason		of Proposed Course of
				months)		delay		Action
	NA	NA	NA	N٨		NA		NA
$#$ Le seus afhantistication of the MCA algebra and TL. Islandination in olimped , after all of a state of $\alpha$

In case of continuing object(s) please specify latest/revised estimate of completion date.

Kotak Mahindra Bank Ltd. CIN: L65110MH1985PLC038137

27 BKC, 2nd Floor, G Block Bandra Kurla Complex (BKC) Bandra (E), Mumbai - 400051

T+91.022.61661170 www.kotak.com

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