Lodha Developers Limited — Investor Presentation 2021

May 15, 2021

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May 15, 2021

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

Scrip Code: 543287 Scrip ID:- LODHA

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

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

Dear Sir/Madam,

Sub: Presentation made to analysts and media on Audited Financial Results for the quarter and year ended March 31, 2021

In continuation of today’s our letter, we enclose herewith revised investor’s presentation on the Audited Financial Results for quarter and year ended March 31, 2021, made to the analysts and media.

Kindly take the same on record.

Thanking you,

Yours faithfully, For Macrotech Developers Limited

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Sanjyot Rangnekar Company Secretary & Compliance Officer Membership No. F4154

Encl:- A/a

Macrotech Developers Limited (Formerly known as Lodha Developers Limited) : Lodha Excelus , NM Joshi Marg, Mahalaxmi, Mumbai 400 011, India • T + 91 22 6133 4400 Regd. Office : 412, Floor-4, 17G Vardhaman Chamber, Cawasji Patel Road, Horniman Circle, Fort, Mumbai 400 001, India CIN: U45200MH1995PLC093041

www.lodhagroup.in

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Investor Presentation Fourth Quarter FY2021 15[th] May 2021

INDEX

Palava Phase I

01[Company Overview]

3 3

Lodha – India’s leading real estate developer, focused on disciplined growth

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Leading Residential Platform

India’s Largest Real Estate Developer^

• ~INR 50,000 Cr of cumulative sales in the last seven fiscal years

• ~58% sales from affordable and midincome

Market Leader in MMR Region

• >10% market share

Operational Excellence & Strong Brand

Strong Financial Profile

Strong track record of profitability

• Adj. EBITDA margin** of ~30%

• PAT margin** of ~13%

• High RoE** profile

Annuity like cashflow from townships

• ~1,100 acres strategic land reserves with developable area of ~93 msf (ex. land for industrial parks)

• Average gross collections**[#] of INR 21.7bn

Multiple Growth Drivers

Future potential to expand further in MMR & Pune

• ~INR 70,000 Cr. yearly absorption in micro-markets with insignificant presence

Asset light growth strategy

• Leveraging our leadership position and marketing & sales capabilities to become a partner of choice for landowners through JVs / JDAs

• High quality management

• Strong focus on sustainable development

• ~80 msf developable area – completed

• ~74 msf developable area – ongoing & planned

Cash flow visibility through inventory

• ~5.4msf of residential RTM inventory

• 13.8msf of ongoing residential inventory

Non core cash flows – delever faster

Strong traction in industrial park segment

• >3500 acre ongoing & planned industrial & logistics park

• >250 acres monetized through JVs/ Outright sale

 Monetization of ready commercial assets

• Surplus cash from UK investment

^by residential sales over last 7 years;

** ex FY21 which was a Covid impacted year; # average of FY18-20

4

Our philosophy: Do Good, Do Well – Environmental Focus

Working towards becoming a global leader in sustainability in the real estate industry

Environmental initiatives implemented

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Path to Zero Carbon
We are working with RMI, a global
leader in climate change and energy Sustainable eco-system development (e.g. Palava) Large open green areas
issues, to chart a path towards a zero Open space of ~15 acres in NCP and ~7 acres in Lodha Park Very Low EUI of residential units (32 kWhr/sqm/yr)
carbon future for us in by 2035. Y-O-Y reduction in water demand due to gamification and efficiency measures
Emphasis on walk to work & amenities; creating a superior quality of life
EV Ready
Developments
All our new
developments are
made EV ready, by
partnering with EV
charging infra
providers
Shared Mobility
Solar rooftop Achieved ~68lakh
kilometers of
More than 20 lakh units of electricity Waste Management environment friendly
generated annually through various Solar 100% bio waste processing; more shared mobility
PV Plants (Rooftop and Ground mount
than 15 TPD per day
both)
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Membrane bioreactor technology based sewage treatment plants

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in collaboration with Suez Water Technologies and Solutions for 100% of Palava’s non-potable water

100% waste water recycling achieved Working on aspiration of 100% water independence

Aim to increase green cover to minimize the net carbon impact and enhance biodiversity

5 star ACs provided + other investments in High Efficiency Equipment

to help reduce electricity consumption

Cross / Natural ventilation

to help reduce the carbon footprint by lowering the need of air conditioning

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LEED Gold certifications for the entire
commercial portfolio.
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• + BEE star rated (3 to 5 star rated)

• + Pandemic resilient buildings

• (target 3, 4 star rated immune building

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5

Our philosophy: Do Good, Do Well – Social Focus

Catering to essential needs of society and putting Healthcare & Safety first

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10,000+ students are 20,000+ labourers have benefitted 3.5 lakhs free meals provided
getting quality education till date across programs during COVID pandemic
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• Achieved zero fatality with more than 16 million hours of safe man hours of construction work across our project sites.

• Operating COVID Recovery Center (100 beds) in South Mumbai, Thane.

• Vaccinated 1000+ employees, family members, third party contractors in 45+ age group, free of cost.

• To pay 12 months salary to the family of any associate who expires while in service of the company.

• Supply of Oxygen Concentrators at free of cost for associates and family members. Immunity booster kit with essential PPE for all affected employees.

• 24x7 Free Doctor consultation for employees and family.

• Setting up 8 Vaccination Centers for residents across Lodha projects . This will directly benefit more than 25k people.

Promoting Gender Diversity

• Equal opportunity employer with specific mandate for increasing gender diversity – meritocratic hiring

• Gender Diversity Level in Employees - 23%*

• 3 Women in the Top Leadership Team

• Additional Maternity benefits, Wellness Sessions for Women

• Excluding Construction Workforce

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6

Continued focus on improving transparency and internal controls

Existing Corporate Governance Policies

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No Gifts Policy

Guidelines on non-acceptance of gifts offered by existing or potential vendors / contractors / customers or nonassociates having relationship with the Company

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Code of Conduct Policy

Outlines organizational values, principles and correlates them with expected standards of professional conduct by associates, vendors and contractors.

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Anti Money Laundering, AntiBribery and Anti-Corruption Policy

To prevent any involvement by our Company in money laundering activity even where the involvement may be unintentional.

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Transparency and Ethics Policy

Reinforces the belief system in doing things ethically without taking undue advantage of any relationship.

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Whistle Blower Policy

For associates to voice concerns related to unethical or improper practices they may have observed

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POPSH Policy

Prohibits personal and sexual harassment and related rretaliation and sets out related procedures

Other Governance Impacts

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Community participation in Project Governance Through formulation of Resident Councils, Citizen Connect Meetings, Feedback Process, etc.

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Customer Experience

We take ownership throughout the customer’s journey with Lodha. This approach reflects in our overall CSAT score of 4.5 (FY 20-21))..

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Information Security and System Availability

Effective policies on Information Security and Business Continuity.

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7

Eminent Board of Directors

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Abhishek Lodha Managing Director

• Drives the overall Planning for the Group

• Holds a master’s degree in science (industrial and systems engineering (supply chain & logistics) from Georgia Institute of Technology

• Worked with McKinsey & Company, USA

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Mukund Chitale

Independent Director and Chairman

• Director on the Board of L&T

• Former President of ICAI

• Former Chairman of Ethics Committee of BSE

Rajinder Pal Singh Non-Executive Director

• Director on the Board of Maruti Suzuki

• Former Chairman and Managing Director of Punjab & Sind Bank

• Former Chairman of National Highways Authority of India

Ashwani Kumar Independent Director

• Former Chairman and Managing Director (CMD) of Dena Bank

• Formal board member of the Life Insurance Corporation of India

• President of the Indian Institute of Banking and Finance

Rajendra Lodha Whole-Time Director

• 31 years of experience in all facets of real estate development

• Bachelor's degree in civil engineering from M.B.M. Engineering College, University of Jodhpur

Raunika Malhotra Whole-time Director

• 15+ years of experience in leadership, corporate strategic planning, consumer insights and brand management

• Formerly worked with ECS Limited and Adayana Learning Solutions in strategic consulting

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8

High quality management team

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Abhishek Lodha
Chief Executive Officer
Strong senior-level  Formerly worked with McKinsey &
management team of 85 [1] 19 Company, USA
executives heading various
functions
Shaishav Dharia
CEO – Townships and Rental Assets
 Formerly worked with McKinsey &
20+ Company and Logic Tools
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CEO – Townships and Rental Assets

Focus on hiring and retaining talent - mix of experienced & fresh talent from premier education institutes

Janhavi Sukhtankar

President – Human Resources

• Formerly held senior positions at Greenpeace International and Aventis

• 22+ Pharma (now Sanofi India)

Prashant Bindal

Chief Sales Officer

• Formerly worked with Spice Mobilitiy,

• 25+ Walmart India (Cash and Carry) and Hindustan Coca Cola Beverages

Streamlined retention strategy in place for key associates (like long-term incentives, housing benefit plans etc)

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20+
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Prateek Bhattacharya

President – Mid-income and Affordable Housing

• Formerly served as Expert Associate Principal at McKinsey and Company

Significant experience across industries & functions

Depth of Experience in Key Competencies

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25+
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15+
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24+
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33+

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26
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Sushil Kumar Modi

Chief Financial Officer

• Formerly served as Group CFOStrategic Finance at GMR Group

Raunika Malhotra

President – Marketing and Corporate Communications

• Formerly worked at Adayana and ECS Limited

Rajesh Sahana

President – Consumer Experience

• Formerly associated with Globacom, Reliance Jio, Bharti Airtel, ABN Amro Bank and Bank of America

Gopal Menghani President- Legal

• Formerly held senior positions at Reliance Industries Limited

Deepak Chitnis

Executive Vice President - Design

• Experience in design and development

• Previously served as senior architect at Oberoi Constructions Private Ltd

Excellent domain knowledge

Note:[1] As of 31 Dec, 2020 xx Experience in the industry

9

“World Tower – Ball Room”

02[Highlights]

1010

Growing consensus that housing is set to a key driver of growth in India

 Structurally strong demand

• “India witnessing a structural shift in housing demand, and clamor from first-time homebuyers and those planning to upgrade to a larger home is here to stay”: Deepak Parekh, Chairman, HDFC Ltd. (Link)

• “Demand is coming back & across all segments and not just in the affordable housing segment but even in higher income brackets”: Keki Mistry, Vice Chairman & CEO, HDFC Ltd. (Link)

• Residential building will see a strong rebound in 2021 and robust growth over the coming decade. Fitch forecasts that the sector will expand in real terms by 7.9% in 2021 followed by average yearly growth of 6.5% up until 2030: Fitch (Link)

 Disciplined Supply

• The MMR region saw the highest yearly decline of 8% in total unsold housing stock by the end of this quarter – a seven-year high decline in unsold units: Anarock Report (Link)

 Continued policy support

• The Maharashtra government's budget for 2021-22, presented on International Women's Day, offered one per cent concession in stamp duty for women (Link)

 Improving pricing outlook:

• Average housing prices appreciated by 1% yoy across seven major cities during the January-March quarter and are likely to rise further in 2H 2021: Anarock Report (Link)

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11

Urban housing in India’s Tier 1 cities: set for a sustained upcycle

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Real Estate sector on course to become a USD 1 trillion market
Strong Structural
Demand  Entry of large educated workforce every year
 Rapid urbanization and family nuclearization
 Rising per capita income
 Low levels of urban home ownership
Best time to own a home
Best Ever  All time best affordability ratio
Affordability  Lowest ever mortgage rates
 Narrowing gap between rental yields & mortgage rates
Consolidating supply
 Tier II developers unable to sell during construction
Disciplined Supply – Loss of consumer confidence
Situation – Lack of wholesale credit from lenders
 Market consolidating towards 4-5 major players in a city
 Disciplined supply to lead to a virtuous cycle for pricing growth & demand
players like Lodha and improved profitability
Industry at start of upcycle with increasing share for Tier 1
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* Anarock Report

12

Q4 FY21: Strong performance across all key KPIs

• Despite Covid, Strong Pre-sales performance of INR 2,531 crores 116% YoY & 36% QoQ

• Adjusted EBITDA at INR 943 crores 87% YoY & 68% QoQ. Adjusted EBITDA margin improved to 37%.

• PAT of INR 312 crores

• Affordable & mid-income housing segment accounted for 57% and 58% pre-sales of the total residential pre-sales for 4QFY21 and FY21 respectively.

• Reduced net debt by INR 544 crores

For India operations

13

Other Highlights

• Upper Thane received first set of OC - Boost to our Township business; Rising occupancies to fuel further demand

• Industrial Park- Monetized nearly 165 acres of industrial park (JV /outright sale) with marquee investors e.g. Morgan Stanley, FM logistics (French 3 PL co.) and US based pharmaceutical company

• Land monetization (other than industrial park) – INR 64 Cr.

 On Growth Track; JDAs entered

• Western Suburbs (Malad): estimated GDV of ~INR 600 crores

• Pune (NIBM): estimated GDV of ~INR 900 crores

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14

Investing for the next phase of growth

Three focus areas- Technology, People and ESG

• Technology  Undergo a Tech. Transformation to achieve operational improvement, revenue growth, superior customer & employee experience

• 2 yr. roadmap to ensure high value solutions implemented earliest; Initiatives identified - Data Lake, Virtual Home Viewings, Integrated HR Solution, Robotic process automation etc.

• Timely adoption of futuristic solutions which can disrupt the real estate market

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People
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• Enhancing General Management capabilities to grow into more micro-markets

• Strengthening our sales capabilities and improve our distribution reach

• Imparting skill enhancement modules to associates including MDP programs at premier institutes

• Retention plan for top talent

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ESG
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• Adopting ESG framework to identify risks & deriving value e.g. resolving process & efficiency flaws

• Committing a long term net zero carbon target (2035)- gain global sustainability leadership

• Comparing with Global ESG benchmarks (DJSI, GRESB) and through a gap analysis identifying areas to improve

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15

“Palava Phase II”

03[Performance Update]

16

Operational Performance

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9,451 17% 11,099 10,635 10,484 INR Cr
2,531 6,570
5,968
116%
1,171 Pre-Sales
1.2 msf 1.8 msf 6.2 msf 5.1 msf
4Q FY20 4Q FY21 FY20 FY21
2,089 8,190
1,905
10%
5,052
Collections
4Q FY20 4Q FY21 FY20 FY21
Mn. Sqft.
3.9 15.7
-33%
2.6
Completions
2.7
4Q FY20 4Q FY21 FY20 FY21
Average Selling Price (ASP) of ‘for sale’ product during the period XXX
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17

Financial Performance

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2,534
2,110 20% 9,577 INR Cr
Revenues 5,449
4Q FY20 4Q FY21 FY20 FY21
943
2,905
87%
504
Adj. EBITDA 1,711
24% 37% 30% 31%
4Q FY20 4Q FY21 FY20 FY21
332 312 1,221
-6%
PAT
511
16% 12% 13% 9%
4Q FY20 4Q FY21 FY20 FY21^
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All data above is excluding impact of UK investments; Adjusted EBITDA = EBITDA + interest included in cost of projects ^ Prior to exceptional items;

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Adjusted EBITDA margin / PAT margin for the duration xx%

18

Micro-market performance for 4QFY21

INR Cr	INR Cr	INR Cr	INR Cr	INR Cr	INR Cr
Micro-markets	Pre-Sales	Average Sales Price (INR psf)	Collections	Construction spend	Area delivered (Mn. sq. ft.)
South & Central	858	22,097	833	183	--
Thane	689	9,826	625	75	--
Extended Eastern Suburbs	349	5,818	379	167	2.5
Western Suburbs	63	11,333	54	15	--
Pune	53	7,810	64	12	0.1
Offices & Retail (for rent)	--	--	28	41	--
Industrial park	454	--	55	6	--
Others*	65	--	51	6	--
Total	2,531		2,089	504	2.6

*Sales from “Others” include residential sales from other micro-markets as well as Land sale (other than industrial park); Collections from “Others” include collections from residential sales from other micro-markets, and any land sale (other than industrial park)

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19

Micro-market performance for FY21

INR Cr	INR Cr	INR Cr	INR Cr	INR Cr	INR Cr	INR Cr
Micro-markets	Pre-Sales	Average Sales Price (INR psf)	Collections	Construction spend	Area delivered (Mn. sq. ft.)	Market Share^
South & Central	2,255	23,550	1,907	578	0.1	33.9%
Thane	1,700	9,147	1,512	174	--	19.6%
Extended Eastern Suburbs	1,045	5,664	1,040	419	2.5	20.2%
Western Suburbs	159	12,030	174	28	--	--
Pune	203	6,323	157	30	0.1	--
Offices & Retail (for rent)	--	--	65	114	--	--
Industrial park	454	--	55	14	--	--
Others*	152	--	142	14	--	--
Total	5,968	--	5,052	1,372	2.7

**Sales from “Others” include residential sales from other micro-markets as well as Land sale (other than industrial park); Collections from “Others” include collections from residential sales from other micro-markets, and any land sale (other than industrial park) ^based on Anarock report for the period over 2015-2020

20

Micro-market supply overview

Micro-markets	Residual Collections from Sold units	Ready unsold	Ongoing unsold	Planned Inventory Launches	Planned Inventory Launches	Planned Inventory Launches	Planned Inventory Launches	Land Bank^
				In next 12 months		Beyond 12 months
				Own Land	JDA	Own Land	JDA
	INR Cr			Mn. Sq. ft.				Acres
South & Central	2,140	4,631	4,136	1.1	--	1.4	--	--
Thane	1,757	514	3,375	0.7	--	2.8	--	--
Extended Eastern Suburbs	1,256	1,434	3,962	1.3	--	30.6	--	~1,100
Western Suburbs	310	2	811	--	0.4	--	--	--
Pune	170	210	563	--	0.5	0.2	0.9	--
Offices & Retail (for rent)	10	1,025	3,125	--	--	7.1	--	--
Industrial park	315	--	300 acres	--	--	500 acres	--	~2,700
Others	88	--	--	0.3	--	--	--	--
Total	6,047	7,866	15,972	3.3	0.9	42.2	0.9	~3800

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^Land bank is surplus land beyond the ongoing & planned projects

21

FY 21 saw continued focus on growing affordable & mid-income business

Micro-market Asset Class Area (Mn .Sq.ft) Est. GDV Est. OC Remarks For 4QFY21 Thane For Sale office 0.13 205 2022 For FY21 (ex-4QFY21) Extended Eastern Suburbs Affordable housing 0.12 89 2022 Launched in Q2 Thane Affordable housing 0.36 327 2025 Launched 0.27 in Q1 & 0.09 in Q2 Extended Eastern Suburbs Affordable housing 0.16 89 2025 Launched in Q3 South & Central Mumbai Luxury housing 0.07 274 2021 Launched in Q3 INR Cr	Micro-market Asset Class Area (Mn .Sq.ft) Est. GDV Est. OC Remarks For 4QFY21 Thane For Sale office 0.13 205 2022 For FY21 (ex-4QFY21) Extended Eastern Suburbs Affordable housing 0.12 89 2022 Launched in Q2 Thane Affordable housing 0.36 327 2025 Launched 0.27 in Q1 & 0.09 in Q2 Extended Eastern Suburbs Affordable housing 0.16 89 2025 Launched in Q3 South & Central Mumbai Luxury housing 0.07 274 2021 Launched in Q3 INR Cr	Micro-market Asset Class Area (Mn .Sq.ft) Est. GDV Est. OC Remarks For 4QFY21 Thane For Sale office 0.13 205 2022 For FY21 (ex-4QFY21) Extended Eastern Suburbs Affordable housing 0.12 89 2022 Launched in Q2 Thane Affordable housing 0.36 327 2025 Launched 0.27 in Q1 & 0.09 in Q2 Extended Eastern Suburbs Affordable housing 0.16 89 2025 Launched in Q3 South & Central Mumbai Luxury housing 0.07 274 2021 Launched in Q3 INR Cr	Micro-market Asset Class Area (Mn .Sq.ft) Est. GDV Est. OC Remarks For 4QFY21 Thane For Sale office 0.13 205 2022 For FY21 (ex-4QFY21) Extended Eastern Suburbs Affordable housing 0.12 89 2022 Launched in Q2 Thane Affordable housing 0.36 327 2025 Launched 0.27 in Q1 & 0.09 in Q2 Extended Eastern Suburbs Affordable housing 0.16 89 2025 Launched in Q3 South & Central Mumbai Luxury housing 0.07 274 2021 Launched in Q3 INR Cr	Micro-market Asset Class Area (Mn .Sq.ft) Est. GDV Est. OC Remarks For 4QFY21 Thane For Sale office 0.13 205 2022 For FY21 (ex-4QFY21) Extended Eastern Suburbs Affordable housing 0.12 89 2022 Launched in Q2 Thane Affordable housing 0.36 327 2025 Launched 0.27 in Q1 & 0.09 in Q2 Extended Eastern Suburbs Affordable housing 0.16 89 2025 Launched in Q3 South & Central Mumbai Luxury housing 0.07 274 2021 Launched in Q3 INR Cr	Micro-market Asset Class Area (Mn .Sq.ft) Est. GDV Est. OC Remarks For 4QFY21 Thane For Sale office 0.13 205 2022 For FY21 (ex-4QFY21) Extended Eastern Suburbs Affordable housing 0.12 89 2022 Launched in Q2 Thane Affordable housing 0.36 327 2025 Launched 0.27 in Q1 & 0.09 in Q2 Extended Eastern Suburbs Affordable housing 0.16 89 2025 Launched in Q3 South & Central Mumbai Luxury housing 0.07 274 2021 Launched in Q3 INR Cr
Extended Eastern Suburbs	Affordable housing	0.12	89	2022	Launched in Q2
Thane	Affordable housing	0.36	327	2025	Launched 0.27 in Q1 & 0.09 in Q2
Extended Eastern Suburbs	Affordable housing	0.16	89	2025	Launched in Q3
South & Central Mumbai	Luxury housing	0.07	274	2021	Launched in Q3

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22

Industrial Parks vertical has started gathering momentum

Performance till date

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Area in acres
90 255
130 165
35
Outright Sale JVs tied up Total monetization for Previous monetization Total land monetized till date
4QFY21
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Over 3500 acres of land available at Palava & Upper Thane for the Industrial Parks; to be monetized over ~15 years

FY21 Monetization details

Client	Land in Acres	Lodha Share	Total Area (Mn Sqft)	Leased Area (Mn Sqft)	Key Industries
Morgan Stanley (JV)	~130	25%	~2.67	NA	NA
FM Logistics (France)	~31	Outright Sale	NA	NA	Third Party Logistics
			NA	NA	Life Sciences
US Based Pharma co.	~4

Leasing started in ESR JV with nearly 0.5mn Sqft. leased out to MNC building materials & equipment manufacturing cos.

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23

Commercial Rental Assets

Area in Mn. Sqft. iThink Thane One Lodha Place iThink Palava Palava Mall	Area in Mn. Sqft. iThink Thane One Lodha Place iThink Palava Palava Mall	Area in Mn. Sqft. iThink Thane One Lodha Place iThink Palava Palava Mall	Area in Mn. Sqft. iThink Thane One Lodha Place iThink Palava Palava Mall	Area in Mn. Sqft. iThink Thane One Lodha Place iThink Palava Palava Mall
Location	Worli (World Towers)	Thane (Clariant Plot)	Palava (Office)	Xperia Mall
Total^ Leasable area	0.75	0.92	0.70	0.42
Ready Area	Under development (Est. completion in FY23)	0.41: Ready Area 0.51: Under development (Est. completion in FY22)	0.27: Ready Area 0.43: Under development (Est. completion in FY22)	0.42: Ready Area
Leased Area	-	0.23	0.15	0.39
4QFY21 Gross realization (INR psf pm)	-	60	38	65*

*Adjusting for waiver due to Covid, gross realization to be higher at ~INR 90 psf pm

^ Completed and ongoing projects only

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24

“Lodha Amara – Club House”

04[Financials]

25

Financial highlights for FY21

INR Cr	INR Cr	INR Cr	INR Cr	INR Cr	INR Cr	INR Cr
INR Cr	Q4 FY21	Q4 FY20*	Variance %	FY21	FY20*	Variance %
Revenue	2,534	2,110	20%	5,449	9,577	(43%)
Adj. EBITDA^	943	504	87%	1,711	2,905	(41%)
Adj. EBITDA Margin %	37.2%	23.9%		31.4%	30.3%
Adj. PAT	312	332	(6%)	511**	1,221	(58%)
Adj. PAT Margin %	11.9%	15.5%		8.9%	12.6%
Networth	4,599	4,552	1%	4,599	4,552	1%
ROE^^				11.2%	29.1%

• *Proforma for India operations

• ^Adjusted EBITDA = EBITDA + interest included in cost of projects

• ** Adjusted for exceptionals

• ^^basis adjusted PAT for India operations; Networth excluding minority

26

Cash flows for 4QFY21

Strong performance leading to robust operating cash flows

INR Cr	INR Cr	INR Cr	INR Cr	INR Cr	INR Cr
INR Cr.	Residential	Office & Retail (for rent)	Industrial	Other Land	Total
Pre-Sales	2,013	-	454	64	2,531
Collections	1,963	28	55	43	2,089
Net* Collections	1,917	26	55	43	2,041
Op. Expenses	707	59	9	-	776
-Const. Exp	459	39	6	-	504
-SG&A	248	21	3	-	272
Cash flow from Operational activities (A)	1,210	-33	46	43	1,266
Interest payment (B)	722
Net loan repayments (C)	468 Net Debt reduction:
Net Cash flow (A-B-C)	76 INR 544 crores

*Net of any stamp duty, GST and Hospitality & Property Management expenses

27

Update on UK Investments

• During the quarter collection from UK projects amounted to GBP 13 million

• Targeting repayment of USD denominated bond well ahead of maturity from UK cash flows

• UK investments expected to repatriate INR 1500 -2000 crores over FY23/FY24 after repaying debt

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Market wise completion plan for ongoing ‘for sale’ projects

		Mn.sqft.	Mn.sqft.	Mn.sqft.	Mn.sqft.	Mn.sqft.
Business	Total Under construction area	Sold/ Unsold	FY22	FY23	FY24	>FY24
South & Central Mumbai	3.31	Sold	0.72	0.32	0.53	--
		Unsold	0.29	0.11	1.34	--
Thane	6.81	Sold	0.50	0.73	1.79	0.10
		Unsold	0.08	0.54	1.24	1.82
Extended Eastern Suburbs	12.09	Sold	1.97	1.64	0.67	0.41
		Unsold	1.20	1.69	2.72	1.79
Western Suburbs	1.46	Sold	0.06	0.06	0.66	--
		Unsold	0.13	0.16	0.38	--
Pune	0.86	Sold	--	--	0.05	0.01
		Unsold	--	--	0.13	0.67
Extended Western Suburbs	0.55	Sold	--	0.55	--	--
		Unsold	--	0.01	--	--
Total	25.06	Sold	3.25	3.30	3.70	0.52
		Unsold	1.70	2.50	5.82	4.28

Revenue recognition for the period

New sales from ready unsold Inventory

Sales from under-construction project obtaining OC during the period

Sale of assets e.g. rental office, land etc.

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Making progress towards the goal of net cash positive

Trend for Net Debt for India business

Cash flow from ready & ongoing ‘for sale^^’ projects

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16,625 16,075
13,575
12,075
Dec' 2020 Mar' 2021 Proforma adj. for IPO
Proforma adj. for IPO &
Promoter debt repayment
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INR Cr.
5,600
19,000
12,800
- 6,250
6,850
RTMI inventory Unsold ongoing Pending collections Pending const. Surplus Cashflow
inventory costs
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Surplus cashflows prior to overheads, interest, & taxes;
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• ^^ ‘for sale” projects exclude office & retail (for rent), industrial parks & Land sale (other than industrial parks)

Key Leverage Indicators

Other sources of cash flows over next 36 months

Net Debt	16,075
Equity	4,599
Avg. cost of Debt**	12.3%
Net Debt/ Equity (Proforma adjusted for IPO)	1.9

• Monetization of leased commercial assets

• Monetization of Industrial Park through outright sale or JV

• Receipt from Govt. on account of land acquisition for infrastructure projects

• Surplus repatriation from London projects

• Further equity raise to meet MPS norms

• ** As of 31[st] March 2021

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30

“Industrial Park- ESR Park”

05[Annexure]

31

Consolidated Summary Profit & Loss

			INR Cr	INR Cr	INR Cr	INR Cr	INR Cr	INR Cr
	Sr. No.			Quarter ended			Year ended
			Particulars	31-03-2021 (Unaudited)	31-12-2020 (Unaudited)	31-03-2020 (Unaudited)	31-03-2021 (Audited)	31-03-2020 (Audited)
	1		Income
		a)	Revenue From Operations	2,534	1,514	3,170	5,449	12,443
		b)	Other Income	78	86	34	323	118
			Total Income	2,611	1,600	3,204	5,772	12,561
	2		Expenses
		a)	Cost of Projects	1,551	973	2,640	3,604	9,550
		b)	Employee Benefits Expense	85	76	56	286	390
		c)	Finance Costs(Net)	315	266	152	1,126	730
		d)	Depreciation,Impairment and Amortisation Expense	17	18	90	73	292
		e)	Other Expenses	89	-8	214	186	595
			Total Expenses	2,057	1,325	3,152	5,276	11,558
	3		Pofit/(Loss) Before exceptional Items and Share of Net Loss In Associate and Joint Venture(1-2)	554	274	51	496	1,003
	4		Share of Net Loss in Associates and Joint Venture	0	-0	-0	-0	-0
	5		Exceptional Items	-	-3	0	-463	0
	6		Profit/(Loss) before tax(3+4+5)	555	271	51	33	1,003
	7		Tax expense
			a)Current Tax	-44	-39	-4	-102	-34
			b)Deferred Tax	-198	-0	191	117	-228
	8		Net Profit/(Loss) for theperiod/year(6+7)	312	232	238	48	742
	9		Earnings Per Share(EPS) (amount in INR)
			Basic(not annualised exceptyear end EPS)	7.8	5.7	3.3	1.0	18.4
			Diluted(not annualised except_year_end EPS)	7.8	5.7	3.3	1.0	18.4
			32

Consolidated Summary Balance Sheet

EQUITY AND LIABLITIES	As at 31-Mar-21	As at 31-Mar-20
Equity Share Capital	396	396
Other Equity	4,203	4,156
Non-Controlling Interests	527	519
Total Equity	5,126	5,071
Borrowings	18,193	18,423
Trade Payables	1,698	2,273
Other Financial Liabilities	2,366	2,439
Provisions	21	24
Current Tax Liabilities (Net)	52	18
Deferred Tax Liabilities (Net)	0	0
Other Liabilities	11,852	12,444
Total Liabilities	34,183	35,621
Total Equity and Liabilities	39,308	40,693

INR Cr	INR Cr	INR Cr
ASSETS	As at 31-Mar-21	As at 31-Mar-20
Tangible Assets	1,406	1,480
Intangible Assets	547	548
Investments	1,579	1,553
Loans	3,952	4,673
Inventories	28,301	29,031
Trade Rec. (Incl. accrued rev.)	1425	1,304
Cash and Bank Balances	405	219
Other Financial Assets	273	206
Non-Current Tax Assets	209	364
Deferred Tax Assets	210	94
Other Assets	1,001	1,222
Total Asses	39,308	40,693

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Palava logistics & Industrial Park- Strategically located in MMR

Entrance of the Industrial Park

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Traction
Significant
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• • Clean land titles

• • Execution capabilities

• • High quality infrastructure • Proximity to MMR

Strategically located & well connected

Distance from:	Duration (Min)
Municipal limits of Mumbai	~ 30
JNPT, India’s largest port	~ 40
Upcoming intl. airport in Navi Mumbai	~ 30

New Infrastructure underway around Palava

• Taloja bypass road widening- 80% work completed

• Elevated corridor to Airoli- Ex. completion in 2022

• Taloja Kalyan metro route- Work to start soon

• Virar- Alibaug multi-modal corridor - completion in 2025

• Ongoing widening of Kalyan Shil road

34

Key affordable & mid-income projects delivered

Unique ability to create destinations

Lodha Upper Thane

Lodha Amara

Lodha Belmondo

Lodha Splendora

Lodha Palava

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35

Key premium & luxury projects delivered

Unique ability to create destinations

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New Cuffe Parade
Lodha Altamount World Towers
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Lodha Park
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36

Disclaimer

Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward looking statements. Macrotech Developers Limited will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

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37

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Thank You!

For any further information, please write to investor.relations@lodhagroup.com

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