Prestige Estates Projects Limited — Capital/Financing Update 2019

May 27, 2019

27th May 2019

To The Manager. Listing Department NSE Limited Dalal Street. Mumbai - 400001

Dear Sir/Madam,

Details of Non - Convertible Debentures Issued on Private Placement basis as per Regulation 52(4) of SEBI (Listing Obligations and Disclosers Requirements) Regulations, 2015.

With reference to the above, we submit herewith the information and documents as per the provisions of the uniform Listing Agreement entered into with the Stock Exchanges where Debt Securities of the company are listed and the Securities and Exchange Board of India (Listing Obligation and Discloser Requirements) Regulation, 2015

• 1. The latest Credit Rating for Listed NCD Rs 800 crores issue is ICRA A+
• 1. The said NCDs are secured by equitable mortgage via Registered Memorandum of Entry (MOE) on the immovable properties :

PEPL RS 500 Cr 2015 Series - Outstanding Rs 300 cr as on 31st March 2019

• (a) Prestige Leela Residences situated on Airport Road, presently known as Old Airport Road, Kodihalli Village, Ward No. 74, Bangalore.
• (b) Prestige Edwardian situated at bearing Municipal No.10, Dr.A.D. Loganathan Road formerly known as Edward Road, Municipal Ward No.78 of Vasanth Nagar, Bangalore.
• (c) Prestige Downtown situated at Door No.17, Block No.40, Vembuliamman Koil Street, Chennai - 600 078
• (d) Prestige Falcon city situated at Uttarahalli Hobli, Bangalore South Taluk, Bangalore.
• (e) Prestige Royal Woods situated at Kismatpur Village, Rajendranagar Mandal, Ranga Reddy District, Andhra Pradesh.

cangalore $S \ni U$

PEPL RS 500 cr 2017 Series

• a) Prestige Ivy league, Hyderabad
• b) Prestige Hillside Retreat, Bangalore
• c) Prestige Valley Crest, Mangalore
• d) Prestige Woodland Park, Bangalore
• e) Land Parcel at Goa
• f) Land Parcel at Nandi Hills, Bangalore
• g) Prestige Bougainvillea P-2, Bangalore
• h) Prestige Boulevard P-2, Bangalore
• 1. The asset cover of Rs 300 crores NCD 2015 series issue is 1.5 times and NCD 2017 series is 1.5 and is adequate as per the terms of the issue.
• 1. The Debt Equity ratio as on 31.03.2019 as per the definition in Debenture Trust Deed is 0.90
• 1. The Debt Service Coverage Ratio as on 31.03.2019 is 0.56
• 1. The Interest Service Coverage Ratio as on 31.03.2019 is 1.63.
• 1. The previous due date for payment of Interest/repayment of principal on said NCDs and whether the same has been paid or not for the year ending 31.03.2019 are mentioned below Ķ.

Tranche	dateDue:ofPaymentInterest	for Interest Amount(Rs)	Date ofActualInterest Payment
Tranche 2 -Rs 300 crores	24 th Jan 2019	8,62,02,740	$21^{st}$ Jan 2019

PEPL RS 500 Cr 2015 Series - Outstanding Rs 300 cr

Tranche	dateDuefor Paymentof Principal	Principal Amount(Rs)	Actual Date ofPrincipalPayment	RedemptionAmount(Rs)
Tranche 1 -	NA	NA / Redeemed	NA	NA / Redeemed
Rs 150 crores	Redeemed		Redeemed
Tranche 2 -	24 thJuly	3,00,00,00,000	24 th July 2020	3,00,00,00,000
Rs 300 crores	2020
Tranche 3 -	NA	RedeemedNA /	NA	NA / Redeemed
Rs 50 crores	Redeemed		Redeemed

1. The next due date for payment of interest / principal along with the amount of interest and the redemption amount on the said NCDs during half-year i.e 01.04.2019 to 30.09.2019 :

Tranche	dateDuePaymentоfInterest	for Interest Amount(Rs)	ActualDate ofInterest Payment
Tranche 2 -Rs 300 crores	24 th April 2019	8,43,28,767	23rd April 2019

Tranche	dateDuefor Paymentof Principal	Principal Amount(Rs)	Actual Date ofPrincipalPayment	RedemptionAmount(Rs)
Tranche 1 -	NA	NA / Redeemed	NA	NA / Redeemed
Rs 150 crores	Redeemed		Redeemed
Tranche 2 -	24 thJuly	3,00,00,00,000	24th July 2020	3,00,00,00,000
Rs 300 crores	2020
Tranche 3 -	NA	RedeemedNA/	NA	NA / Redeemed
Rs 50 crores	Redeemed		Redeemed

Company does not expect default in payment of principal / interest due in next half year.

PEPL RS 500 cr issue 2017 Series

Tranche	Due dateforpaymentofPrincipal	dateDueforPayment ofInterest	InterestAmount(Rs)	Actual DateInterestofPayment	RedemptionAmount(Rs)
Tranche $1 -$Rs 500crores	NA	8 thMarch2019	12,32,87,671	7thMarch2019	NA

1. The next due date for payment of interest / principal along with the amount of interest and the redemption amount on the said NCDs during half-year i.e 01.04.2019 to 30.09.2019 :

ATES 9Đ Bangalore

Tranche	forPaymentοlPrincipal	Due date Due date forPayment of AmountInterest	Interest(Rs)	Actual Date Redemption$ $ nterest $ $οfPayment	Amount(Rs)
Tranche 1 -	NA	8 thJune	12,60,27,397	8 thJune	NA
Rs 500 crores		2019		2019

Company does not expect default in payment of principal / interest due in next half year.

1. Details of Debenture Redemption Reserve:

Tranche		Amount of Issue(In Rs cr)	DRR Required tobe created(ln Rs)	DRRCreatedupto 31.03.2019(ln Rs)	FundsInvesteddebenturesformaturing duringthe year
2015	series	Rs 150 crores	NIL	NIL	NA / Redeemed
Tranche 1
2015	series	Rs 300 crores	55,26,53,173	55,26,53,173	Nil
Tranche 2
2015	series	Rs 50 crores	NIL	NIL	NA / Redeemed
Tranche 3
2017	series	Rs 500 crores	44,69,22,701	44,69,22,701	NIL
Tranche 1
			99,95,75,874	99,95,75,874

• 1. Net worth of the Company as on 31.03.2019 is Rs 42,499 mn
• 1. Net Profit after tax of the company for the year ended 31.03.2019 is Rs 2,892 mn
• 1. Earnings per share for the year ended 31.03.2019 is Rs 7.71

Please Note:

• a) Asset Cover Available: (Receivable + Unsold stock Balance Cost to incur) / Issue size
• b) *Debt Equity Ratio: (Total debt Cash Balance) / Net worth

* This calculation shall exclude double accounting of debt, if any. It is clarified that the net debt above shall exclude Lease Rental / Receivable discounting and corporate guarantees. This is as per debenture trust deed.

c) DSCR - Profit before finance cost and Tax / (Interest and Principal Repayment during the period)

d) ISCR = Profit before finance cost and Tax / Finance Costs (Gross)

ATES Bangalore

c) In point no 5&6 ratios are calculated at company level. If the numbers were to be calculated for NCD, based on the cash flows of the ring fenced assets the ratios will be considerably high.

Thanking you Yours sincerely For Prestige Estates Projects Limited

ATES ဖြပြ Bangalore $\frac{1}{2}$ Irfan Razack Chairman & Managing Director

IDBI Trusteeship Services Ltd

CIN: U65991MH2001GOI131154

May 27, 2019

To.

Prestige Estates Projects Limited Falcon House No-1. Main Guard Cross Road, Bangalore - 560001

Kind Attn.: - Ms. Priti Priyanka

Dear Madam.

Ref: Certificate u/r Regulation 52(5) of SEBI (Listing Obligation & Disclosure Requirements). Regulations, 2015 - Submission of Year Ended 31st March, 2019.

We are acting in capacity of Debenture Trustee for Non-Convertible Debentures issued by the

Pursuant to regulation 52(5) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. We IDBI Trusteeship Services Ltd ("Debenture Trustee") hereby confirm that we have received and noted the information, as specified under regulation 52(4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements ) Regulations, 2015 ("Regulations"), provided to us by "Prestige Estates Projects Limited" for the year ended March 31, 2019.

This Certificate is being issued pursuant to the requirements of Regulation 52(5) of the aforesaid Regulations, for onward submission to Stock Exchange(s) by the company.

Thanking You,

Yours Faithfully For IDBI Trusteeship Services Limited,

Authorised Signatory