Interim report
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BAGMANE REIT August 11 , 2026 To , The Corporate Relations Department , The National Stock Exchange of India Limited , Exchange Plaza , 5th Floor , Plot No. C / 1 , G - Block , Bandra - Kurla Complex , Bandra ( East ) , Mumbai - 4 400051 . To , The Corporate Relations Department , Department of Corporate Services , BSE Limited , 25th Floor , Phiroze Jeejeebhoy Towers , Dalal Street , Mumbai - 400001 . Re : Script Symbol " BAGMANE ” , Scrip Code “ 544758 ” Dear Sir / Madam , Subject : Outcome of the Board Meeting for the quarter ended June 30 , 2026 , held on Tuesday , August 11 , 2026 We wish to inform you that the Board of Directors of Bagmane Realty Investment Manager Private Limited ( " BRIMPL ” ) , Manager to Bagmane Prime Office REIT ( “ Bagmane REIT ” ) , at their Meeting held on Tuesday , August 11 , 2026 , through Audio - Visual Electronic Communication have inter - alia : 1 . 2 . 3 . 4 . Approved the Unaudited Standalone and Consolidated Financial Results of Bagmane REIT for the quarter ended June 30 , 2026 , along with the limited review reports of the Statutory Auditor thereon ( “ Unaudited Financial Results and Limited Review Reports " ) ; Declared distributions of ₹ 5,100.00 million ( Indian Rupees Five Thousand One Hundred million only ) 1.5000 ( Indian Rupees One point Five Zero paise only ) per Unit for the quarter ended June 30 , 2026. The distribution comprises of ₹ 425.68 million ( Indian Rupees Four Hundred and Twenty Five point Six Eight million only ) / * 0.1252 ( Indian Rupees Zero point One Two Five Two paise only ) per Unit in the form of interest , less applicable taxes , if any and ₹ 4,674.32 million ( Indian Rupees Four Thousand Six Hundred and Seventy Four point Three Two million only ) / ₹ 1.3748 ( Indian Rupees One point Three Seven Four Eight paise only ) , per unit in the form of dividend ; In consultation with Axis Trustee Services Limited , Trustee to Bagmane REIT , approved the appointment of M / s . Manohar Chowdhry & Associates as the Internal Auditor of Bagmane REIT for the Financial Year 2026-27 . Details pertaining to the appointment of the Internal Auditor is set out at Annexure A ; and In consultation with Axis Trustee Services Limited , Trustee to Bagmane REIT , approved the appointment of RJSY and Associates as the Secretarial Auditor of Bagmane REIT for the Financial BAGMANE REALTY INVESTMENT MANAGER PRIVATE LIMITED ( ACTING AS INVESTMENT MANAGER TO BAGMANE PRIME OFFICE REIT ) 5th floor , B Block Bagmane Tech Park , 65/2 Bagmane Laurel , C. V. Raman Nagar , Bangalore North , Bangalore- 560093 , Karnataka | Tel : + 91-80-40329999 | CIN - U66309KA2024PTC183039 reitcompliance@bagmanereit.com | Website of Bagmane Prime Office REIT : https://www.bagmanereit.com/ | Email : Page 1 of 4
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BAGMANE REALTY INVESTMENT MANAGER PRIVATE LIMITED (ACTING AS INVESTMENT MANAGER TO BAGMANE PRIME OFFICE REIT) 5th floor, B Block Bagmane Tech Park, 65/2 Bagmane Laurel, C. V. Raman Nagar, Bangalore North, Bangalore - 560093, Karnataka | Tel: +91 -80-40329999 | CIN - U66309KA2024PTC183039 | Email: reitcompliance@bagmanereit.com | Website of Bagmane Prime Office REIT: https://www.bagmanereit.com/ Page 2 of 4 With this letter, we have enclosed a copy of the Unaudited Financial Results and Limited Review Reports, as Appendices I and II respectively. We also wish to inform you that the proceeds of the initial public issue of units of Bagmane REIT have been utilized in line with the objectives stated in the Final Offer Document dated May 11, 2026 without any deviations or variations in the stated use of proceeds. The Statement of Use of Proceeds of the initial public issue of units of Bagmane REIT for the quarter ended June 30, 2026, as reviewed and taken on record by Axis Trustee Services Limited, Trustee to Bagmane REIT and the Board of Directors of BRIMPL , is enclosed as Appendix III. The documents referred to above will also be uploaded on our website at https://www.bagmanereit.com/ The Press Release, Earnings Update and Supplementary Databook will be uploaded separately. We also wish to inform you that the record date for the distributions to Unitholders for the quarter ended June 30, 2026 , will be Friday, August 14, 2026 , and the payment of distributions will be made on or before Friday, August 21, 2026. The Board Meeting commenced at 1850 Hrs IST and concluded at 1915 Hrs IST Thanking you, For and on behalf of Bagmane Prime Office REIT acting through its Investment Manager, Bagmane Realty Investment Manager Private Limited Venkatesh Ranganath P Company Secretary and Compliance Officer A37567
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BAGMANE REALTY INVESTMENT MANAGER PRIVATE LIMITED (ACTING AS INVESTMENT MANAGER TO BAGMANE PRIME OFFICE REIT) 5th floor, B Block Bagmane Tech Park, 65/2 Bagmane Laurel, C. V. Raman Nagar, Bangalore North, Bangalore - 560093, Karnataka | Tel: +91 -80-40329999 | CIN - U66309KA2024PTC183039 | Email: reitcompliance@bagmanereit.com | Website of Bagmane Prime Office REIT: https://www.bagmanereit.com/ Page 3 of 4 Annexure A Details regarding the appointment of M/s. Manohar Chowdhry & Associates Particulars Details Reason for change viz. appointment, re-appointment, resignation, removal, death or otherwise Appointment Date of appointment/re - appointment/cessation (as applicable) & term of appointment/re-appointment Date of Appointment: August 11, 2026 Term of Appointment: For the Financial Year 2026-27 Brief profile (in case of appointment) M/s. Manohar Chowdhry & Associates, Chartered Accountants (ICAI Firm Registration No. 001997S), is a partnership firm established in 1984, with its head office in Chennai and a presence across 12 offices in 7 states in India. The firm has 30 partners and a professional team of over 400 personnel. The firm is peer reviewed by the Institute of Chartered Accountants of India (ICAI) and is registered with the Public Company Accounting Oversight Board (PCAOB), USA. It is also empanelled with the Comptroller and Auditor General of India (C&AG) and approv ed by the Reserve Bank of India (RBI) for appointment as Statutory Central Auditor of banks. The firm has extensive experience in statutory audit, internal audit, risk advisory, assurance, taxation, FEMA and corporate law advisory, and has significant experience in auditing listed companies, financial institutions, infrastructure companies, and entities regulated by SEBI, RBI, IRDAI and C&AG. It also has experience in auditing alternative investment funds, portfolio managers, custodians, stock brokers and fund managers, including assignments involving trust and SPV structures relevant to REITs. The firm has served several prominent organisations, including Bharat Petroleum Corporation Limited, NLC India Limited, Karnataka Bank Limited, Punjab & Sind Bank, Mangalore Refinery and Petrochemicals Limited, Bangalore Metro Rail Corporation Limited, GMR Airports Limited, eMudhra Limited and NIIF Infrastructure Finance Limited. Disclosure of relationships between directors (in case of appointment of a director) Not Applicable
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BAGMANE REALTY INVESTMENT MANAGER PRIVATE LIMITED (ACTING AS INVESTMENT MANAGER TO BAGMANE PRIME OFFICE REIT) 5th floor, B Block Bagmane Tech Park, 65/2 Bagmane Laurel, C. V. Raman Nagar, Bangalore North, Bangalore - 560093, Karnataka | Tel: +91 -80-40329999 | CIN - U66309KA2024PTC183039 | Email: reitcompliance@bagmanereit.com | Website of Bagmane Prime Office REIT: https://www.bagmanereit.com/ Page 4 of 4 Annexure B Details regarding the appointment of RJSY and Associates Particulars Details Reason for change viz. appointment, re-appointment, resignation, removal, death or otherwise Appointment Date of appointment/re - appointment/cessation (as applicable) & term of appointment/re-appointment Date of Appointment: August 11, 2026 Term of Appointment: For the Financial Year 2026-27 Brief profile (in case of appointment) RJSY and Associates, Practicing Company Secretaries Firm is an affiliate Firm led by Rupal D. Jhaveri, established in the year 2016. Ms. Rupal D. Jhaveri is a Senior Partner along with Ms. Sadhana Yadav and Ms. Harshini Parikh as Associate Partners in the Firm. Ms. Rupal D. Jhaveri is also the Sole Proprietor of proprietorship firm, Rupal D. Jhaveri, Practicing Companies Secretaries. She is registered with the Independent Director’s Databank for life as an Independent Director and has more than two decades of exp erience as a Company Secretary and more than 5 years of experience as a Practicing Chartered Accountant. She has immense expertise in the field of Audit, Management Consultancy, Corporate Governance, Legal Opinion, Compliances, Ballot Procedures, and Corpo rate Restructuring specifically in the financial services sector. Disclosure of relationships between directors (in case of appointment of a director) Not Applicable
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12th Floor “UB City” Canberra Block No. 24, Vittal Mallya Road Bengaluru – 560 001, India Tel: +91 80 6648 9000 Independent Auditor’s Review Report on the Quarterly Unaudited Consolidated Financial Results of Bagmane Prime Office REIT pursuant to Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014 as amended To The Board of Directors of Bagmane Realty Investment Manager Private Limited (acting in its capacity as manager of Bagmane Prime Office REIT) 1. We have reviewed the accompanying unaudited consolidated financial results of Bagmane Prime Office REIT (the "Trust") and its subsidiaries (Trust and its subsidiaries together referred to as the "Group") for the quarter ended June 30, 2026 (the "Statement"), being submitted by Bagmane Realty Investment Manager Private Limited (acting in its capacity as manager of Bagmane Prime Office REIT) (the "Manager") pursuant to the requirement of Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, as amended, including any guidelines and circulars issued thereunder (together referred as the "REIT Regulations"). 2. This Statement, which is the responsibility of the Manager's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), specified under Companies (Indian Accounting Standards) Rules, 2015, as amended, to the extent not contrary to the REIT Regulations, read with the REIT Regulations and other accounting principles generally accepted in India. The Statement has been approved by the Board of Directors of the Manager. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We have also performed procedures as required by regulation 13(5) of the REIT Regulations, as amended, to the extent applicable. 4. The Statement includes the results of the following entities: a) Parent Entity - Bagmane Prime Office REIT b) Subsidiaries - Bagmane Developers Private Limited - Bagmane Rio Private Limited - Bagmane Green Power LLP (converted to Bagmane Green Power Private Limited effective July 1, 2026) 5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, to the extent not contrary to the REIT Regulations, read with the REIT Regulations and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the REIT Regulations, including the manner in which it is to be disclosed or that it contains any material misstatement. 6. We draw attention to Note 8 of the Statement, which describes the presentation/classification of "Unit Capital" as "Equity" in order to comply with the mandatory requirements of the relevant REIT Regulations, instead of the applicable requirements of Ind AS 32 - Financial Instruments: Presentation, specified under Companies (Indian Accounting Standards) Rules, 2015, as amended. Our conclusion on the Statement is not modified in respect of this matter. For S.R. Batliboi & Associates LLP Chartered Accountants ICAI Firm registration number: 101049W/E300004 per Sudhir Kumar Jain Partner Membership No.: 213157 UDIN: 26213157RYBOGF5051 Bengaluru August 11, 2026 Appendix I
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Bagmane Prime Office REIT RN: IN/REIT/25-26/0007 Statement of Unaudited Consolidated Financial Results for the quarter ended 30 June 2026 (All amounts are in INR million, unless otherwise stated) Current quarter ended Preceding quarter ended Corresponding quarter ended Previous year ended Particulars From 01 April 2026 to 30 June 2026 From 01 Jan 2026 to 31 March 2026 From 30 May 2025 to 30 June 2025 From 30 May 2025 to 31 March 2026 (Unaudited) (Refer note 15) (Refer note 13 & 15) (Refer note 14 & 15) (Refer note 15) INCOME Revenue from operations 4,370.06 - - - Other income 135.28 - - - Total Income 4,505.34 - - - EXPENSES Finance costs 375.82 - - - Depreciation and amortization expenses 1,872.88 - - - Other expenses 727.94 0.37 - 2.57 Total Expenses 2,976.64 0.37 - 2.57 Profit/(Loss) before tax 1,528.70 (0.37) - (2.57) Tax expense: Current tax 841.08 - - - Deferred tax 102.52 0.69 - - Total tax expenses 943.60 0.69 - - Profit/(Loss) for the period/quarter 585.10 (1.06) - (2.57) Other comprehensive income for the period /quarter ('OCI') - - - - Total comprehensive income for the period/quarter 585.10 (1.06) - (2.57) (comprising profit/(loss) for the period and OCI) Profit for the period/quarter Attributable to: - Owners of the parent 578.51 (1.06) - (2.57) - Non-Controlling Interests 6.59 - - - Other comprehensive income for the period/quarter Attributable to: - Owners of the parent - - - - - Non-Controlling Interests - - - - Total comprehensive income for the period/quarter Attributable to: - Owners of the parent 578.51 (1.06) - (2.57) - Non-Controlling Interests 6.59 - - - Earnings per unit (Not annualised) 0.29 Not applicable Not applicable Not applicable - Basic and diluted (in Rs.) (Refer note 5)
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Bagmane Prime Office REITRN: IN/REIT/25-26/0007Statement of Unaudited Consolidated Financial Results for the quarter ended 30 June 2026(All amounts are in INR million, unless otherwise stated)Statement of Net Distributable Cash Flows (NDCF)Computation of NDCF at Trust Level:ParticularsCurrent quarter ended From 01 April 2026 to 30 June 2026(Unaudited)(Refer note 15)Cash flows from operating activities of the Bagmane REIT (0.09)Add: Cash flows received from HoldCo/Asset SPV(s) which represent distributions of NDCF computed as per relevant framework 1,389.81 Add:Treasury income/ income from investing activities of the Bagmane REIT (interest income received from fixed deposit, anyinvestmententities as defined in Regulation 18(5) of the REIT Regulations, tax refund, any other income in the nature of interest, profit on sale ofmutualfunds, investments, assets etc., dividend income etc., excluding any Ind AS adjustments. It is clarified that these amounts will be considered onacash receipt basis) - Add: Proceeds from sale of real estate investments, real estate assets or shares of HoldCo/ Asset SPV(s) adjusted for the following: - (i) Applicable capital gains and other taxes(ii) Related debts settled or due to be settled from sale proceeds(iii) Directly attributable transaction costs(iv) Proceeds reinvested or planned to be reinvested as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions oftheREIT RegulationsAdd:Proceeds from sale of real estate investments, real estate assets or sale of shares of HoldCo/ Asset SPV(s) not distributed pursuant toanearlier plan to re-invest as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations, ifsuchproceeds are not intended to be invested subsequently - Less:Finance cost on borrowings, as per the profit and loss account. The amortization of any transaction costs can be excluded providedsuchtransaction costs have already been deducted while computing NDCF of previous period when such transaction costs were paid (30.45)Less:Debt repayment at the Bagmane REIT level (to include principal repayments as per scheduled equated monthly instalments exceptifrefinanced through new debt including overdraft facilities and to exclude any debt repayments/ debt refinanced through new debt in any formorfunds raised through issuance of units) - Less: Any reserve required to be created under the terms of, or pursuant to the obligations arising in accordance with, any:(i) loan agreement entered with financial institution; or(ii) terms and conditions, covenants or any other stipulations applicable to debt securities issued by the Bagmane REIT or any of its HoldCo/AssetSPV(s); or(iii) terms and conditions, covenants or any other stipulations applicable to external commercial borrowings availed by the Bagmane REIT oranyof its HoldCo/ Asset SPV(s); or(iv) agreement pursuant to which the Bagmane REIT operates or owns the real estate asset, or generates revenue or cashflows from suchasset(such as, concession agreement, transmission services agreement, power purchase agreement, lease agreement, and any other agreement of alikenature, by whatever name called); or(v) statutory, judicial, regulatory, or governmental stipulations - Less:Any capital expenditure on existing assets owned/ leased by the Bagmane REIT, to the extent not funded by debt/ equity or fromcontractualreserves created in the earlier years - NDCF at Trust level 1,359.27 Add: Distribution from surplus cash reserves 3,741.10 NDCF at Trust level (including distribution from surplus cash reserves) 5,100.37 Note:3. Since the initial formation transactions, including issuance of unit capital and acquisition of subsidiaries by the Trust have been completed during the quarter ended June 30,2026,the preparation and submission of the Statement of Net Distributable Cash Flows of the Trust are not applicable, for the periods upto March 31, 2026.1. The aforesaid statement is pursuant to guidance under Chapter 3 - Paragraph 3.19 of SEBl Master Circular No. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated July 11, 2025,asamended.2. The Board of Directors of the Manager to the Trust, in its meeting held on August 11, 2026, have declared distribution to Unitholders of Rs. 1.5000 per unit which aggregatestoRs. 5,100.00 million. The distributions of Rs. 1.5000 per unit comprises Rs. 0.1252 per unit in the form of interest and Rs. 1.3748 per unit in the form of dividend.
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Bagmane Prime Office REITRN: IN/REIT/25-26/0007Statement of Unaudited Consolidated Financial Results for the quarter ended 30 June 2026(All amounts are in INR million, unless otherwise stated)Statement of Net Distributable Cash Flows (NDCF)Computation of NDCF for HoldCo/SPVs:BDPLCash flows from operating activities of HoldCo/SPVs1,258.34 Add: Cash flows received from SPV(s) which represent distributions of NDCF computed as per relevant framework292.25 Add:Treasury income/ income from investing activities of the SPV (interest income received from fixed deposit, tax refund, anyotherincome in the nature of interest, profit on sale of mutual funds, investments, assets etc., dividend income etc., excluding any IndASadjustments. It is clarified that these amounts will be considered on a cash receipt basis) 78.33 Add: Proceeds from sale of real estate investments, real estate assets or shares of SPVs adjusted for the following:- (i) Applicable capital gains and other taxes(ii) Related debts settled or due to be settled from sale proceeds(iii) Directly attributable transaction costs(iv) Proceeds reinvested or planned to be reinvested as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisionsofthe REIT RegulationsAdd: Proceeds from sale of real estate investments, real estate assets or shares of SPVs not distributed pursuant to an earlier plan tore-investas per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations, if such proceeds are notintendedto be invested subsequently- Less:Finance cost on borrowings, as per the profit and loss account excluding finance cost on any shareholder debt/loan from trust.Theamortization of any transaction costs can be excluded provided such transaction costs have already been deducted while computing NDCFofprevious period when such transaction costs were paid(239.11) Less:Debt repayment (to include principal repayments as per scheduled equated monthly instalments except if refinanced through newdebtincluding overdraft facilities and to exclude any debt repayments/ debt refinanced through new debt, in any form or equity raise as wellasrepayment of any shareholder debt/ loan from Trust)- Less: any reserve required to be created under the terms of, or pursuant to the obligations arising in accordance with, any: (i). loan agreement entered with banks / financial institution from whom the Trust or any of its SPVs/ HoldCos have availed debt, or (ii). terms and conditions, covenants or any other stipulations applicable to debt securities issued by the Trust or any of its SPVs/ HoldCos, or (iii). terms and conditions, covenants or any other stipulations applicable to external commercial borrowings availed by the Trust or any ofitsSPVs/ HoldCos, or (iv). agreement pursuant to which the SPV/ HoldCo operates or owns the real estate asset, or generates revenue or cashflows from suchasset(such as, concession agreement, transmission services agreement, power purchase agreement, lease agreement, and any other agreement ofalike nature, by whatever name called); or (v). statutory, judicial, regulatory, or governmental stipulations- Less:Any capital expenditure on existing assets owned/ leased by the SPV or HoldCo, to the extent not funded by debt/ equity or fromreserves created in the earlier years - NDCF for HoldCo/SPVs1,389.81 Add: Distribution from surplus cash reserves (including HoldCo/SPVs distribution from surplus cash reserves)3,741.10 NDCF for HoldCo/SPVs (including distribution from surplus cash reserves)5,130.91 NDCF distributed for the periodTill 30th June 2026456.42 Subsequent to 30th June 20264,674.49 Total5,130.91 Note: Current quarter ended From 01 April 2026 to 30 June 2026(Unaudited) (Refer note 15)Particulars 1. The aforesaid statement is pursuant to guidance under Chapter 3 - Paragraph 3.19 of SEBl Master Circular No. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99datedJuly 11, 2025, as amended.2. Cash flows received from SPVs represent distributions of NDCF computed as per relevant framework received from BGPL amounting to Rs. 209.95 millionandBRPL amounting to Rs. 82.30 million. Further, distribution from surplus cash reserves includes Rs.199.96 million received by BDPL from BRPL.3. Since the acquisition of HoldCo has been completed during the quarter ended June 30, 2026, the preparation and submission of the Statement ofNetDistributable Cash Flows of the HoldCo is not applicable, for the periods upto March 31, 2026.
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Bagmane Prime Office REITRN: IN/REIT/25-26/0007Statement of Unaudited Consolidated Financial Results for the quarter ended 30 June 2026(All amounts are in INR million, unless otherwise stated)Statement of Net Distributable Cash Flows (NDCF)Computation of NDCF for HoldCo/SPVs:BGPL BRPLCash flows from operating activities of HoldCo/SPVs214.08 127.37 Add: Cash flows received from SPVs which represent distributions of NDCF computed as per relevant framework- - Add:Treasury income/ income from investing activities of the SPV (interest income received from fixed deposit, taxrefund,any other income in the nature of interest, profit on sale of mutual funds, investments, assets etc., dividend incomeetc.,excluding any Ind AS adjustments. It is clarified that these amounts will be considered on a cash receipt basis)- 1.93 Add: Proceeds from sale of real estate investments, real estate assets or shares of SPVs adjusted for the following:- - (i) Applicable capital gains and other taxes(ii) Related debts settled or due to be settled from sale proceeds(iii) Directly attributable transaction costs(iv) Proceeds reinvested or planned to be reinvested as per Regulation 18(16)(d) of REIT Regulations or any otherrelevantprovisions of the REIT RegulationsAdd: Proceeds from sale of real estate investments, real estate assets or shares of SPVs not distributed pursuant to anearlierplan to re-invest as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations,ifsuch proceeds are not intended to be invested subsequently- - Less:Finance cost on borrowings, as per the profit and loss account excluding finance cost on any shareholder debt/loan fromtrust. The amortization of any transaction costs can be excluded provided such transaction costs have already beendeductedwhile computing NDCF of previous period when such transaction costs were paid- (40.81) Less:Debt repayment (to include principal repayments as per scheduled equated monthly instalments except ifrefinancedthrough new debt including overdraft facilities and to exclude any debt repayments/ debt refinanced through new debt, inanyform or equity raise as well as repayment of any shareholder debt/ loan from Trust)- - Less: any reserve required to be created under the terms of, or pursuant to the obligations arising in accordance with, any: (i). loan agreement entered with banks / financial institution from whom the Trust or any of its SPVs/ HoldCos haveavaileddebt, or (ii). terms and conditions, covenants or any other stipulations applicable to debt securities issued by the Trust or any ofitsSPVs/ HoldCos, or (iii). terms and conditions, covenants or any other stipulations applicable to external commercial borrowings availed bytheTrust or any of its SPVs/ HoldCos, or (iv). agreement pursuant to which the SPV/ HoldCo operates or owns the real estate asset, or generates revenue orcashflowsfrom such asset (such as, concession agreement, transmission services agreement, power purchase agreement, leaseagreement,and any other agreement of a like nature, by whatever name called); or (v). statutory, judicial, regulatory, or governmental stipulations- - Less:Any capital expenditure on existing assets owned/ leased by the SPV , to the extent not funded by debt/ equity or fromreserves created in the earlier years (4.13) - NDCF for HoldCo/SPVs209.95 88.49 Add: Distribution from surplus cash reserves- 215.01 NDCF for HoldCo/SPVs (including distribution from surplus cash reserves)209.95 303.50 NDCF distributed for the periodTill 30th June 2026209.95 - Subsequent to 30th June 2026- 282.26 Total209.95 282.26 Note: ParticularsCurrent quarter ended From 01 April 2026 to 30 June 2026(Unaudited) (Refer note 15) 1. The aforesaid statement is pursuant to guidance under Chapter 3 - Paragraph 3.19 of SEBl Master Circular No. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated July11,2025, as amended.2. BDPL holds 93% in BRPL and the balance 7% represents non-controlling interests. Hence, 93% of total distributions of BRPL is distributed to BDPL andconsideredfor NDCF computation.3. Since the acquisition of subsidiaries by the Trust has been completed during the quarter ended June 30, 2026, the preparation and submission of the Statement ofNetDistributable Cash Flows of the SPVs is not applicable, for the periods upto March 31, 2026.
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Bagmane Prime Office REITRN: IN/REIT/25-26/0007Statement of Unaudited Consolidated Financial Results for the quarter ended 30 June 2026(All amounts are in INR million, unless otherwise stated)Bagmane REIT BDPL BGPL BRPLTotal 10,030.45 9,260.88 - 4,045.91 23,337.24 Deferred payments [B] - - - - - 1,591.61 5,023.68 422.10 395.51 7,432.90 8,438.84 4,237.20 (422.10) 3,650.40 15,904.34 Value of REIT Assets [E] (refer note 3 below) - 3,77,286.90 7,617.90 19,064.70 4,03,969.50 Net Borrowings Ratio [D/E]3.94%1 Bagmane REIT BDPL BGPL BRPLTotal8,024.33 - - - 8,024.33 - - - 3,531.00 3,531.00 - 6,562.09 - - 6,562.09 - 1,107.01 - - 1,107.01 - 430.19 - - 430.19 - 1,161.59 - - 1,161.59 2,006.12 - - - 2,006.12 - - - 514.91 514.91 10,030.45 9,260.88 - 4,045.91 23,337.24 23The Value of REIT assets has been determined based on the latest available valuation report as at December 31, 2025 by the valuer appointed under the REIT Regulations.45Borrowings = Long-term borrowings + Short-term borrowings. Refer below for details of borrowings as at June 30, 2026:TotalCash and Cash Equivalents [C] (refer note 2 below) Since the Trust has acquired subsidiaries during the current quarter ended June 30, 2026, the Statement of Net Borrowings Ratio for the periods upto March 31, 2026 have not been furnished. Also, refer note 15.ParticularsThe above statement of Net Borrowings ratio is as per computation prescribed under Chapter 4, paragraph 4.6.5 to SEBI Master circular no.SEBI/HO/DDHS-PoD-2/P/CIR/2025/99dated 11 July 2025.Cash and cash equivalents are as per Schedule III to the Companies Act, 2013.BorrowingsTerm loan from Bajaj Housing Finance LimitedTerm loan from ICICI Bank LimitedTerm loan from HDFC Bank LimitedTerm loan from Indian Overseas BankTerm loan from Canara BankTerm loan from Federal Bank LTD.Overdraft from Bajaj Housing Finance LimitedOverdraft from ICICI Bank LimitedStatement of Net Borrowings Ratio Borrowings (A) (refer note 1 below)Notes:Particulars Aggregate Borrowings and Deferred payments net of Cash and Cash Equivalents [D=A+B-C]As at 30 June 2026 (Unaudited)
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Bagmane Prime Office REITRN: IN/REIT/25-26/0007Statement of Unaudited Consolidated Financial Results for the quarter ended 30 June 2026(All amounts are in INR million, unless otherwise stated)Current quarter endedFrom 01 April 2026 to 30 June 2026(Unaudited) (Refer note 15)0.07 1.15 12.17 Asset cover available ratio (d) 17.31 Total debts to total assets ratio (e) 0.06 Net Worth i.e.: Unitholders funds (in INR Million) (f) 3,39,792.72 Distribution per unit (in INR) (g) 1.50 Net operating income (in INR Million) (h) 3,951.32 Net profit margin percent (i) 12.99%Current ratio (j)0.72 Notes:Statement of Additional Disclosure of RatiosDebt equity ratio (a)Debt service coverage ratio (b)Interest service coverage ratio (c)a) Debt equity ratio = Total borrowings (i.e., Long-term borrowings + Short-term borrowings) / Total Equity (i.e., Unit Capital + Other equity + Non-controlling interest-Distribution-Repayment of Capital)b) Debt Service Coverage Ratio = Earnings before finance costs, depreciation, amortisation and tax expenses / [Finance cost (net of capitalisation and excluding interestonlease deposit and interest on lease liability) + Principal repayments made during the period (net of proceeds from borrowings)]c) Interest Service Coverage Ratio = Earnings before finance costs, depreciation, amortisation and tax expenses / Finance cost (net of capitalisation and excluding interestonlease deposit and interest on lease liability)d) Asset cover ratio = Value of REIT Assets (i.e., value determined based on the latest available valuation report by the valuer appointed under the REIT Regulations) /Totalborrowings (i.e., Long-term borrowings + Short-term borrowings)e) Total debts to total assets ratio = Total borrowings (i.e., Long-term borrowings + Short-term borrowings) / Total assets (i.e., Current Assets + Non Current Assets)f) Net Worth i.e.: Unitholders funds = Unit Capital + Other equity - Distribution-Repayment of Capitalg) Distribution per unit = Total distribution / Number of unitsh) Net operating income (i.e., Segment results) = Revenue from operations (i.e., Segment revenue) - Direct operating expenses (refer Segment Information for details)i) Net profit margin percent = Profit after tax / Total incomej) Current ratio = Current Assets / Current liabilities Particulars 1. The above statement of Additional Disclosure of Ratios is as prescribed under Chapter 4, paragraph 4.18.2(a) to SEBI Master circular no.SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated 11 July 2025.2. Since the Trust has acquired subsidiaries during the current quarter ended June 30, 2026, the Statement of Additional Disclosure of Ratios for the periods upto March31,2026 have not been furnished. Also, refer note 15.
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Bagmane Prime Office REITRN: IN/REIT/25-26/0007Statement of Unaudited Consolidated Financial Results for the quarter ended 30 June 2026(All amounts are in INR million, unless otherwise stated)Notes to the Unaudited Consolidated Financial Results123 Other incomeCurrent quarter ended Preceding quarter ended Corresponding quarter ended Previous year endedParticularsFrom 01 April 2026 to 30 June 2026From 01 Jan 2026 to 31 March 2026From 30 May 2025 to 30 June 2025From 30 May 2025 to 31 March 2026(Unaudited) (Refer note 15)(Refer note 13 & 15) (Refer note 14 & 15) (Refer note 15)Interest income from:Bank deposits 32.97 - - - Income tax refund 71.76 - - - Security deposits 26.19 - - - Miscellaneous income 4.36 - - - Total 135.28 - - - 4Other expensesCurrent quarter ended Preceding quarter ended Corresponding quarter ended Previous year endedParticularsFrom 01 April 2026 to 30 June 2026From 01 Jan 2026 to 31 March 2026From 30 May 2025 to 30 June 2025From 30 May 2025 to 31 March 2026(Unaudited) (Refer note 15)(Refer note 13 & 15) (Refer note 14 & 15) (Refer note 15)Rates and taxes1.36 - - - Property management fees (refer note 6)137.29 - - - Investment management fees (refer note 6)8.02 - - - Property tax81.93 - - - Rent0.55 - - - Repairs and maintenance - building213.21 - - - - others 41.02 - - - Power and fuel80.66 - - - Legal and professional fees *47.59 - - - Audit fees4.83 0.36 - 1.56 Registration fees- 0.01 - 0.01 Membership fees10.69 - - - Trustee Fees0.45 - - 1.00 Allowance for credit loss49.59 - - - Advertisement and business promotion2.72 - - - Travel and conveyance0.22 - - - Insurance3.55 - - - Communication costs0.28 - - - Corporate social responsibility expenses 42.99 - - - Miscellaneous expenses0.99 - - - 727.94 0.37 - 2.57 * Net of Project development fees capitalised (refer note 6)35.11 - - - 5Current quarter ended Preceding quarter ended Corresponding quarter ended Previous year endedParticularsFrom 01 April 2026 to 30 June 2026From 01 Jan 2026 to 31 March 2026From 30 May 2025 to 30 June 2025From 30 May 2025 to 31 March 2026(Unaudited) (Refer note 15)(Refer note 13 & 15) (Refer note 14 & 15) (Refer note 15)Profit after tax for the period/quarter 578.51 Weighted average number of units (Basic and Diluted) 2,01,75,82,418Earnings Per Unit (not annualised)- Basic and Diluted (in Rs.) 0.29 The unaudited consolidated financial results of Bagmane Prime Office REIT (the "Trust" or "Bagmane REIT") and its subsidiaries namely Bagmane Developers Private Limited ("BDPL" or"HoldCo"), Bagmane Rio Private Limited ("BRPL") and Bagmane Green Power LLP (converted to Bagmane Green Power Private Limited effective July 1, 2026) ("BGPL"), (the Trust anditssubsidiaries together referred to as the "Group"), has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "InterimFinancialReporting" ("Ind AS 34"), specified under Companies (Indian Accounting Standards) Rules, 2015, as amended, to the extent not contrary to Securities and Exchange Board of India (RealEstateInvestment Trusts) Regulations, 2014, as amended, including any guidelines and circulars issued thereunder (together referred as the "REIT Regulations") and other accounting principlesgenerallyaccepted in India.The unaudited consolidated financial results of the Trust were reviewed by the Audit Committee of Bagmane Realty Investment Manager Private Limited (the "Manager") and approved by theBoardof Directors of the Manager at its meeting held on August 11, 2026. Earnings Per Unit ("EPU"):Basic EPU is calculated by dividing the profits for the period/quarter attributable to unitholder of the Trust by the weighted average number of units outstanding during the period/quarter. DilutedEPUis calculated by dividing the profits for the period/quarter attributable to unit holders of the Trust by the weighted average number of units outstanding during the period/quarter plus theweightedaverage number of units that would be issued on conversion of all the dilutive potential units into unit capital. Refer note 1 below Refer note 1 below Refer note 1 below Note 1: The Trust has not issued any units till March 31, 2026. Therefore the disclosures in respect of Earnings per unit is not applicable for the periods upto March 31, 2026.
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Bagmane Prime Office REIT RN: IN/REIT/25-26/0007 Statement of Unaudited Consolidated Financial Results for the quarter ended 30 June 2026 (All amounts are in INR million, unless otherwise stated) Notes to the Unaudited Consolidated Financial Results 6 Manager Fees The details of Manager Fees are as below: 1. Investment Management Fees 2. Property Management Fees 3. Project Development Fees 7 Proposed Utilisation Actual utilisation upto June 30, 2026 Unutilised amount as at June 30, 2026 14,200.00 14,200.00 - 8,200.00 8,200.00 - General purposes 717.00 600.00 117.00 Offer expenses relating to fresh issue of units as part of IPO 783.00 4.00 779.00 Total 23,900.00 23,004.00 896.00 8 9 10 Asset Acquisition Particulars Amount Total Assets (A) 3,97,675.48 Total Liabilities (B) 61,830.12 Net Assets (A-B) 3,35,845.36 Attributable to owners of the Parent 3,34,866.87 Attributable to Non-Controlling Interests 978.49 Part funding of acquisition by Bagmane Developers Private Limited of 93.00% of the issuedand paid up equity share capital of Bagmane Rio Private Limited The Trust has only one class of Units. Each Unit represents an undivided beneficial interest in the Trust. Each holder of Units is entitled to one vote per Unit. The Unitholders have the right toreceive at least 90% of the Net Distributable Cash Flows of the Trust at least once in every six months in each financial year in accordance with the REIT Regulations. The Board of Directors of theManager approves distributions to Unitholders. The distribution will be in proportion to the number of Units held by the Unitholders. The Trust declares and pays distributions in Indian Rupees. Under the provisions of the REIT Regulations, Bagmane REIT is required to distribute to Unitholders not less than 90% of the net distributable cash flows of Bagmane REIT for each financialyear. Accordingly, a portion of the the Unitholders funds contains a contractual obligation of the Trust to pay cash to the Unitholders. Thus, in accordance with the requirements of Ind AS 32 -Financial Instruments: Presentation, the Unit Capital should have been classified as compound financial instrument which contains both equity and liability components. However, under the provisions of the REIT Regulations, for the purpose of preparation of financial information under the REIT Regulations, Unit Capital shall be considered as equity andthe distribution to Unitholders which is in the nature of repayment of capital shall be shown as a negative amount on the face of the Balance Sheet as a separate line itemRepayment of In order to comply with the aforesaid provisions of the REIT Regulations, Bagmane REIT has presented/classified its Unit Capital as Equity. Consistent with Unit Capital being classified asEquity, the distributions to Unitholders is presented under Equity and not as finance cost. In line with the above, the dividend payable to Unitholders is recognised as liability when the distributionsare approved by the Board of Directors of the Manager. During the quarter ended June 30, 2026: (a) Pursuant to the Share Acquisition Agreements and the Other Investors Securities Acquisition Agreements, the Bagmane REIT has acquired 100.00% of the securities of BagmaneDevelopers Private Limited ('BDPL') (which presently holds 100.00% of SPV, Bagmane Greenpower LLP ('BGLLP')), held by Sponsor and other investors, by issue of 3,161 million units of the Trust foran aggregate value of Rs. 316,100 million (comprising of Rs. 303,500 million towards acquisition of equity shares of BDPL and Rs. 12,600 million towards acquisition of debentures of BDPL). (b) Further, the Bagmane REIT through BDPL acquired 93.00% of the issued and paid-up equity share capital held by Sponsor, Raja Bagmane and Nagamani Raja in Bagmane Rio Private Limited ('BRPL'), for consideration aggregating to Rs. 13,000 million (including utilisation of the proceeds of fresh issue of initial offer of the units of the Trust amounting to Rs. 8,200 million) andtransaction cost of Rs. 1.95 million. (c) Further, the Bagmane REIT through BDPL acquired 100% of the Luxor @ Bagmane Tech Park from Bagmane Constructions Private Limited ('BCPL') for a consideration of Rs. 17,750million (including utilisation of the proceeds of fresh issue of initial offer of the units of the Trust amounting to Rs. 14,200 million) and transaction cost of Rs. 614.92 million. During the quarter ended June 30, 2026, the Trust entered into Share Purchase Agreements with shareholders of SPVs for acquisition of equity interest in exchange for units of the Trust.The management has applied the optional concentration test, under Ind AS 103, and concluded that the acquired set of activities and assets is not a business because substantially all of the fair value ofthe gross assets acquired is concentrated in investment properties and related assets, with similar risk characteristics. Accordingly, the acquisition has been accounted for as an asset acquisition. The management has identified and recognised the individual identifiable assets acquired and liabilities assumed and non controlling interests thereon and allocated the purchase consideration tothe individual identifiable assets and liabilities on the basis of their relative fair values at the date of acquisition. The allocated value of the identifiable assets and liabilities of the SPVs as at the date of acquisition (i.e., May 08, 2026) were: Pursuant to the Investment Management Agreement dated May 30, 2025, as amended, the Manager is entitled to fees @ 0.5% (exclusive of applicable taxes) of Net Distributable CashFlows ('NDCF'). The fees is paid to the Manager in consideration of undertaking management of the Trust and the Trust's fund and to render investment management services to the Trust. On May 14, 2026, the units of the Trust are listed on Bombay Stock Exchange ('BSE') and National Stock Exchange ('NSE'). As part of initial public offer (IPO), the Trust has issued 340.50million units at a price of Rs.100 per unit aggregating to Rs.34,050 million, consisting of a fresh issuance of 239.00 million units aggregating to Rs. 23,900 million and an offer for sale of 101.50 millionunits aggregating to Rs.10,150 million. Details of utilisation of proceeds of the IPO are as follows: Objects of the fresh issue as per final offer document Part funding of acquisition by Bagmane Developers Private Limited of Luxor@BagmaneCapital Tech Park Pursuant to the Project Management and Support Services Agreement dated April 30, 2024, as amended, the Manager is entitled to a fee of 3.5% (exclusive of applicable taxes) of the incomederived Pursuant to the Development Management Agreement dated December 12, 2025, as amended, the Manager is entitled to Rs. 400 per sq. ft. (exclusive of applicable taxes) of the leasable areaof project under development, which shall be escalated at 5% per annum. The fees is paid to the Manager in consideration of the project development services offered by the Manager to the SPVs. Since the issuance of Units and acquisition of subsidiaries by the Trust have been completed during the current quarter ended June 30, 2026, the Manager Fees in the current quarter represent feesfor the period from May 8, 2026 (acquisition date) to June 30, 2026. There are no changes during the period in the methodology for computation of fees paid to Manager.
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Bagmane Prime Office REIT RN: IN/REIT/25-26/0007 Statement of Unaudited Consolidated Financial Results for the quarter ended 30 June 2026 (All amounts are in INR million, unless otherwise stated) Notes to the Unaudited Consolidated Financial Results 11 Segment information (b) All the assets of the Group and source of revenue is within India and hence, no separate geographical segment is identified. (c) There are major customers having revenue more than 10% of the reportable segment. (d) Since the Trust has acquired subsidiaries during the current quarter ended June 30, 2026, segment information for the periods upto March 31, 2026 have not been furnished. Also, refer note 15. For the quarter ended June 30, 2026 Particulars Bagmane Tech Park Bagmane Cosmos Business Park Bagmane Constellation Business Park Bagmane World Technology Centre Luxor @ Bagmane Capital Tech Park Bagmane Rio Business Park Solar Assets/Solar Parks - Karnataka Total Revenue from operations (Segment revenue) 1,264.07 315.69 1,001.21 1,076.82 300.06 234.49 177.72 4,370.06 Less: Direct operating expenses (117.63) (28.22) (98.68) (121.24) (10.87) (27.74) (14.36) (418.74) Net operating income (Segment results) 1,146.44 287.47 902.53 955.58 289.19 206.75 163.36 3,951.32 Indirect operating expenses (309.20) Other income 135.28 Earnings before finance costs, depreciation and amortization and tax expenses (EBITDA) 3,777.40 Finance costs (375.82) Depreciation and amortization expenses (1,872.88) Profit before tax 1,528.70 Tax expenses (943.60) Profit for the quarter 585.10 Other comprehensive income - Total comprehensive income for the quarter 585.10 Following is the detail of major customer contributing 10% or more of the Group's revenues: Particulars Bagmane Tech Park Bagmane Cosmos Business Park Bagmane Constellation Business Park Bagmane World Technology Centre Luxor @ Bagmane Capital Tech Park Bagmane Rio Business Park Solar Assets/Solar Parks - Karnataka Total Customer A June 30, 2026 - Income from leasing and other services - - 136.23 325.04 2.42 234.49 - 698.17 Percentage to the total revenue 15.98% Ind AS 108 establishes standards for the way that business enterprises report information about operating segments and related disclosures. Based on the 'management approach' as defined in Ind AS 108, Chief Operating Decision Maker ('CODM') evaluates the Group's performance and allocates resources based on an analysis of various performance indicators by operating segments. The accounting principles usedin the preparation of these consolidated financial results are consistently applied to record revenue and expenditure in individual segments. i) Bagmane Tech Park ii) Bagmane Cosmos Business Park iii) Bagmane Constellation Business Park iv) Bagmane World Technology Centre v) Luxor@Bagmane Capital Tech Park vi) Bagmane Rio Business Park vii) Solar Assets/Solar Parks - Karnataka Further, the information relating to segment assets and segment liabilities are not regularly provided to CODM for review and hence the same is not disclosed.
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Bagmane Prime Office REITRN: IN/REIT/25-26/0007Statement of Unaudited Consolidated Financial Results for the quarter ended 30 June 2026(All amounts are in INR million, unless otherwise stated)Notes to the Unaudited Consolidated Financial Results12131415for and on behalf of the Board of Directors ofBagmane Realty Investment Manager Private Limited(acting in its capacity as Manager to Bagmane Prime Office REIT)Aditya Bagmane Shashank Bagmane Venkatesh Ranganath PDirector Director Company SecretaryDIN:07184524 DIN:09836805 Membership No. A37567Place: BengaluruRichard Hugh Andrew Ashay S ShahDate: August 11, 2026 Chief Executive Officer Chief Financial OfficerThe figures for the period from May 30, 2025 to June 30, 2025 as reported in these financial results have been approved by the Board of Directors of the Manager but havenotbeen subjected to audit or limited review.The Trust was incorporated on May 30, 2025. During the quarter ended June 30, 2026, the Trust has prepared its unaudited consolidated financial results for the firsttime,following the acquisition of certain entities as its subsidiaries during the current quarter (refer note 10). Accordingly, the current quarter's unaudited consolidated financialresultscomprise the financial information of the Trust for the period upto the acquisition date, and the financial information of the Trust and its subsidiaries from the acquisitiondate.Consequently, the comparative financial information presented for the periods up to March 31, 2026, represent solely the standalone financial information of the Trust and arenotcomparable with the current quarter's consolidated financial information.The unaudited consolidated financial results for the quarter ended June 30, 2026 have been subjected to review by Statutory Auditors of Bagmane REIT and they have issuedanunmodified report on the above results.The figures for the quarter ended March 31, 2026 are the derived figures between the audited figures in respect of the period from May 30, 2025 to March 31, 2026 and theyear-to-date figures from May 30, 2025 to December 31, 2025, which were subject to audit.
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12th Floor “UB City” Canberra Block No. 24, Vittal Mallya Road Bengaluru – 560 001, India Tel: +91 80 6648 9000 Independent Auditor’s Review Report on the Quarterly Unaudited Standalone Financial Results of Bagmane Prime Office REIT pursuant to Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014 as amended To The Board of Directors of Bagmane Realty Investment Manager Private Limited (acting in its capacity as manager of Bagmane Prime Office REIT) 1. We have reviewed the accompanying statement of unaudited standalone financial results of Bagmane Prime Office REIT (the "Trust") for the quarter ended June 30, 2026 (the "Statement"), being submitted by Bagmane Realty Investment Manager Private Limited (acting in its capacity as manager of Bagmane Prime Office REIT) (the "Manager") pursuant to the requirement of Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, as amended, including any guidelines and circulars issued thereunder (together referred as the "REIT Regulations"). 2. This Statement, which is the responsibility of the Manager's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), specified under Companies (Indian Accounting Standards) Rules, 2015, as amended, to the extent not contrary to the REIT Regulations, read with the REIT Regulations and other accounting principles generally accepted in India. The Statement has been approved by the Board of Directors of the Manager. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. 4. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, to the extent not contrary to the REIT Regulations, read with the REIT Regulations and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the REIT Regulations, including the manner in which it is to be disclosed or that it contains any material misstatement. 5. We draw attention to Note 8 of the Statement, which describes the presentation/classification of "Unit Capital" as "Equity" in order to comply with the mandatory requirements of the relevant REIT Regulations, instead of the applicable requirements of Ind AS 32 - Financial Instruments: Presentation, specified under Companies (Indian Accounting Standards) Rules, 2015, as amended. Our conclusion on the Statement is not modified in respect of this matter. For S.R. Batliboi & Associates LLP Chartered Accountants ICAI Firm registration number: 101049W/E300004 per Sudhir Kumar Jain Partner Membership No.: 213157 UDIN: 26213157DZA VWB9715 Bengaluru August 11, 2026 Appendix II
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Bagmane Prime Office REITRN: IN/REIT/25-26/0007Statement of Unaudited Standalone Financial Results for the quarter ended 30 June 2026(All amounts are in INR million, unless otherwise stated)Current quarter ended Preceding quarter ended Corresponding quarter ended Previous year endedParticulars From 01 April 2026 to 30 June 2026From 01 Jan 2026 to 31 March 2026From 30 May 2025 to 30 June 2025From 30 May 2025 to 31 March 2026(Unaudited) (Refer note 12) (Refer note 13) (Audited)INCOMEOther income 456.42 - - - Total Income 456.42 - - - EXPENSESFinance costs 30.45 - - - Other expenses 20.41 0.37 - 2.57 Total Expenses 50.86 0.37 - 2.57 Profit/(Loss) before tax 405.56 (0.37) - (2.57) Tax expense:Minimum alternate taxCurrent tax - - - - Deferred tax expense / (credit)Deferred tax - 0.69 - - Total tax expenses - 0.69 - - Profit/(Loss) for the period/quarter 405.56 (1.06) - (2.57) Other comprehensive income for the period /quarter ('OCI') - - - - Total comprehensive income for the period/quarter 405.56 (1.06) - (2.57) (comprising profit/(loss) for the period and OCI)Earnings per unit (Not annualised)0.20 Not applicable Not applicableNot applicable - Basic and diluted (in Rs.) (Refer note 5)
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Bagmane Prime Office REITRN: IN/REIT/25-26/0007Statement of Unaudited Standalone Financial Results for the quarter ended 30 June 2026(All amounts are in INR million, unless otherwise stated)Statement of Net Distributable Cash FlowsParticulars Current quarter ended From 01 April 2026 to 30 June 2026(Unaudited) Cash flows from operating activities of the Bagmane REIT (0.09)Add: Cash flows received from HoldCo/Asset SPV(s) which represent distributions of NDCF computed as per relevant framework 1,389.81 Add:Treasury income/ income from investing activities of the Bagmane REIT (interest income received from fixed deposit, any investment entitiesasdefined in Regulation 18(5) of the REIT Regulations, tax refund, any other income in the nature of interest, profit on sale of mutual funds,investments,assets etc., dividend income etc., excluding any Ind AS adjustments. It is clarified that these amounts will be considered on a cash receipt basis) - Add: Proceeds from sale of real estate investments, real estate assets or shares of HoldCo/ Asset SPV(s) adjusted for the following: - (i) Applicable capital gains and other taxes(ii) Related debts settled or due to be settled from sale proceeds(iii) Directly attributable transaction costs(iv) Proceeds reinvested or planned to be reinvested as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of theREITRegulationsAdd: Proceeds from sale of real estate investments, real estate assets or sale of shares of HoldCo/ Asset SPV(s) not distributed pursuant to anearlierplan to re-invest as per Regulation 18(16)(d) of REIT Regulations or any other relevant provisions of the REIT Regulations, if such proceeds arenotintended to be invested subsequently - Less:Finance cost on borrowings, as per the profit and loss account. However, the amortization of any transaction costs can be excludedprovidedsuch transaction costs have already been deducted while computing NDCF of previous period when such transaction costs were paid (30.45)Less:Debt repayment at the Bagmane REIT level (to include principal repayments as per scheduled equated monthly instalments except ifrefinancedthrough new debt including overdraft facilities and to exclude any debt repayments/ debt refinanced through new debt in any form or fundsraisedthrough issuance of units) - Less: Any reserve required to be created under the terms of, or pursuant to the obligations arising in accordance with, any:(i) loan agreement entered with financial institution; or(ii) terms and conditions, covenants or any other stipulations applicable to debt securities issued by the Bagmane REIT or any of its HoldCo/AssetSPV(s); or(iii) terms and conditions, covenants or any other stipulations applicable to external commercial borrowings availed by the Bagmane REIT or any ofitsHoldCo/ Asset SPV(s); or(iv) agreement pursuant to which the Bagmane REIT operates or owns the real estate asset, or generates revenue or cashflows from such asset(suchas, concession agreement, transmission services agreement, power purchase agreement, lease agreement, and any other agreement of a like nature,bywhatever name called); or(v) statutory, judicial, regulatory, or governmental stipulations - Less:Any capital expenditure on existing assets owned/ leased by the Bagmane REIT, to the extent not funded by debt/ equity or fromcontractualreserves created in the earlier years - NDCF at Trust level 1,359.27 Add: Distribution from surplus cash reserves 3,741.10 NDCF at Trust level (including distribution from surplus cash reserves) 5,100.37 Note:2. The Board of Directors of the Manager to the Trust, in its meeting held on August 11, 2026, have declared distribution to Unitholders of Rs. 1.5000 per unit which aggregates to Rs.5,100.00million. The distributions of Rs. 1.5000 per unit comprises Rs. 0.1252 per unit in the form of interest and Rs. 1.3748 per unit in the form of dividend.1. The aforesaid statement is pursuant to guidance under Chapter 3 - Paragraph 3.19 of SEBl Master Circular No. SEBI/HO/DDHS-PoD-2/P/CIR/2025/99 dated July 11, 2025, as amended.3. Since the initial formation transactions, including issuance of unit capital and acquisition of subsidiaries by the Trust have been completed during the quarter ended June 30, 2026, thepreparationand submission of the Statement of Net Distributable Cash Flows of the Trust are not applicable, for the periods upto March 31, 2026.
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Bagmane Prime Office REITRN: IN/REIT/25-26/0007Statement of Unaudited Standalone Financial Results for the quarter ended 30 June 2026(All amounts are in INR million, unless otherwise stated)Notes to the Unaudited Standalone Financial Results123 Other incomeCurrent quarter ended Preceding quarter ended Corresponding quarter ended Previous year endedParticulars From 01 April 2026 to 30 June 2026From 01 Jan 2026 to 31 March 2026From 30 May 2025 to 30 June 2025From 30 May 2025 to 31 March 2026(Unaudited) (Refer note 12) (Refer note 13) (Audited)Interest Income 456.42 - - - Total 456.42 - - - 4 Other expensesCurrent quarter ended Preceding quarter ended Corresponding quarter ended Previous year endedParticulars From 01 April 2026 to 30 June 2026From 01 Jan 2026 to 31 March 2026From 30 May 2025 to 30 June 2025From 30 May 2025 to 31 March 2026(Unaudited) (Refer note 12) (Refer note 13) (Audited)Bank ChargesAudit fees1.25 0.36 - 1.56 Registration fees- 0.01 - 0.01 Membership fees10.69 - - - Miscellaneous expensesTrustee Fees 0.45 - - 1.00 Investment management fees (refer note 6) 8.02 - - - Sundry credit balances written back20.41 0.37 - 2.57 5Current quarter ended Preceding quarter ended Corresponding quarter ended Previous year endedParticulars From 01 April 2026 to 30 June 2026From 01 Jan 2026 to 31 March 2026From 30 May 2025 to 30 June 2025From 30 May 2025 to 31 March 2026(Unaudited) (Refer note 12) (Refer note 13) (Audited)Profit/(loss) after tax for the period/quarter 405.56 Weighted average number of units (Basic and Diluted) 2,01,75,82,418Earnings Per Unit (not annualised)- Basic and Diluted (in Rs.) 0.20 67 Proposed UtilisationActual utilisation upto June 30, 2026Unutilised amount as at June 30, 2026 14,200.00 14,200.00 - 8,200.00 8,200.00 - General purposes 717.00 600.00 117.00 Offer expenses relating to fresh issue of units as part of IPO 783.00 4.00 779.00 Total 23,900.00 23,004.00 896.00 The unaudited standalone financial results of Bagmane Prime Office REIT (the "Trust" or "Bagmane REIT") has been prepared in accordance with the recognition and measurement principleslaiddown in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), specified under Companies (Indian Accounting Standards) Rules, 2015, as amended, to the extent notcontraryto Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, as amended, including any guidelines and circulars issued thereunder (together referred as the"REITRegulations") and other accounting principles generally accepted in India.The unaudited standalone financial results of the Trust were reviewed by the Audit Committee of Bagmane Realty Investment Manager Private Limited (the "Manager") and approved by theBoardof Directors of the Manager at its meeting held on August 11, 2026. Objects of the fresh issue as per final offer documentManager Fees - Investment Management FeesEarnings Per Unit ("EPU"):Basic EPU is calculated by dividing the profits for the period/quarter attributable to unitholder of the Trust by the weighted average number of units outstanding during the period/quarter.DilutedEPU is calculated by dividing the profits for the period/quarter attributable to unit holders of the Trust by the weighted average number of units outstanding during the period/quarter plustheweighted average number of units that would be issued on conversion of all the dilutive potential units into unit capital.Note 1: The Trust has not issued any units till March 31, 2026. Therefore the disclosures in respect of Earnings per unit is not applicable for the periods upto March 31, 2026.On May 14, 2026, the units of the Trust are listed on Bombay Stock Exchange ('BSE') and National Stock Exchange ('NSE'). As part of initial public offer (IPO), the Trust has issued340.50million units at a price of Rs.100 per unit aggregating to Rs.34,050 million, consisting of a fresh issuance of 239.00 million units aggregating to Rs. 23,900 million and an offer for sale of101.50million units aggregating to Rs.10,150 million. Details of utilisation of proceeds of the IPO are as follows:Part funding of acquisition by Bagmane Developers Private Limited ofLuxor@BagmaneCapital Tech ParkPart funding of acquisition by Bagmane Developers Private Limited of 93.00% oftheissued and paid up equity share capital of Bagmane Rio Private Limited Refer note 1 below Refer note 1 below Refer note 1 below Pursuant to the Investment Management Agreement dated May 30, 2025, as amended, the Manager is entitled to fees @ 0.5% (exclusive of applicable taxes) of Net Distributable CashFlows('NDCF'). The fees is paid to the Manager in consideration of undertaking management of the Trust and the Trust's fund and to render investment management services to the Trust. Since the issuance of Units and acquisition of subsidiaries by the Trust have been completed during the current quarter ended June 30, 2026, thefees in the current quarter representfeesfor the period from May 8, 2026 (acquisition date) to June 30, 2026. There are no changes during the period in the methodology for computation of fees paid to Manager.
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Bagmane Prime Office REITRN: IN/REIT/25-26/0007Statement of Unaudited Standalone Financial Results for the quarter ended 30 June 2026(All amounts are in INR million, unless otherwise stated)Notes to the Unaudited Standalone Financial Results8910111213for and on behalf of the Board of Directors ofBagmane Realty Investment Manager Private Limited(acting in its capacity as Manager to Bagmane Prime Office REIT)Aditya Bagmane Shashank Bagmane Venkatesh Ranganath PDirector Director Company SecretaryDIN:07184524 DIN:09836805 Membership No. A37567Place: BengaluruRichard Hugh Andrew Ashay S ShahDate: August 11, 2026 Chief Executive Officer Chief Financial OfficerThe figures for the quarter ended March 31, 2026 are the derived figures between the audited figures in respect of the period from May 30, 2025 to March 31, 2026 and the year-to-datefiguresfrom May 30, 2025 to December 31, 2025, which were subject to audit.The Trust has only one operating segments and hence, disclosure under Ind AS 108, Operating segments has not been provided in the financial results.The unaudited standalone financial results for the quarter ended June 30, 2026 have been subjected to review by Statutory Auditors of Bagmane REIT and they have issued an unmodified reportonthe above results. The Trust has only one class of Units. Each Unit represents an undivided beneficial interest in the Trust. Each holder of Units is entitled to one vote per Unit. The Unitholders have the righttoreceive at least 90% of the Net Distributable Cash Flows of the Trust at least once in every six months in each financial year in accordance with the REIT Regulations. The Board of Directorsofthe Manager approves distributions to Unitholders. The distribution will be in proportion to the number of Units held by the Unitholders. The Trust declares and pays distributions in Indian Rupees. Under the provisions of the REIT Regulations, Bagmane REIT is required to distribute to Unitholders not less than 90% of the net distributable cash flows of Bagmane REIT for eachfinancialyear. Accordingly, a portion of the the Unitholders funds contains a contractual obligation of the Trust to pay cash to the Unitholders. Thus, in accordance with the requirements of Ind AS 32-Financial Instruments: Presentation, the Unit Capital should have been classified as compound financial instrument which contains both equity and liability components.However, under the provisions of the REIT Regulations, for the purpose of preparation of financial information under the REIT Regulations, Unit Capital shall be considered as equity andthedistribution to Unitholders which is in the nature of repayment of capital shall be shown as a negative amount on the face of the Balance Sheet as a separate line itemRepaymentof In order to comply with the aforesaid provisions of the REIT Regulations, Bagmane REIT has presented/classified its Unit Capital as Equity. Consistent with Unit Capital being classifiedasEquity, the distributions to Unitholders is presented under Equity and not as finance cost. In line with the above, the dividend payable to Unitholders is recognised as liability when thedistributionsare approved by the Board of Directors of the Manager.During the quarter ended June 30, 2026:(a) Pursuant to the Share Acquisition Agreements and the Other Investors Securities Acquisition Agreements, the Bagmane REIT has acquired 100.00% of the securities of BagmaneDevelopersPrivate Limited ('BDPL') (which presently holds 100.00% of SPV, Bagmane Greenpower LLP ('BGLLP')), held by Sponsor and other investors, by issue of 3,161 million units of the Trust foranaggregate value of Rs. 316,100 million (comprising of Rs. 303,500 million towards acquisition of equity shares of BDPL and Rs. 12,600 million towards acquisition of debentures of BDPL).(b) Further, the Bagmane REIT through BDPL acquired 93.00% of the issued and paid-up equity share capital held by Sponsor, Raja Bagmane and Nagamani Raja in Bagmane Rio PrivateLimited('BRPL'), for consideration aggregating to Rs. 13,000 million (including utilisation of the proceeds of fresh issue of initial offer of the units of the Trust amounting to Rs. 8,200 million)andtransaction costs of Rs. 1.95 million.(c) Further, the Bagmane REIT through BDPL acquired 100% of the Luxor @ Bagmane Tech Park from Bagmane Constructions Private Limited ('BCPL') for a consideration of Rs. 17,750million(including utilisation of the proceeds of fresh issue of initial offer of the units of the Trust amounting to Rs. 14,200 million) and transaction costs of Rs. 614.92 million.The figures for the period from May 30, 2025 to June 30, 2025 as reported in these financial results have been approved by the Board of Directors of the Manager but have not been subjectedtoaudit or limited review.
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BAGMANE REALTY INVESTMENT MANAGER PRIVATE LIMITED (ACTING AS INVESTMENT MANAGER TO BAGMANE PRIME OFFICE REIT) 5th floor, B Block Bagmane Tech Park, 65/2 Bagmane Laurel, C. V. Raman Nagar, Bangalore North, Bangalore- 560093, Karnataka | Tel: +91 -80-40329999 | CIN - U66309KA2024PTC183039 | Email: reitcompliance@bagmanereit.com | Website of Bagmane Prime Office REIT: https://www.bagmanereit.com/ Page 1 of 4 August 11, 2026 To, The Corporate Relations Department, The National Stock Exchange of India Limited, Exchange Plaza, 5th Floor, Plot No. C/1, G-Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051. To, The Corporate Relations Department, Department of Corporate Services, BSE Limited, 25th Floor, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001. Re: Script Symbol “BAGMANE”, Scrip Code “544758” Dear Sir/ Madam, Subject: Submission of quarterly statement of deviation(s) or variation(s) in use of proceeds for the quarter ended June 30, 2026 Pursuant to Paragraph 4.17 of Chapter 4 of SEBI Master Circular No. SEBI/HO/DDHS -PoD-2/P/CIR/2025/99 dated July 11, 2025, please note that the proceeds of the initial public offer of units of Bagmane Prime Office REIT have been utilized in line with the ob jectives stated in the Final Offer Document dated May 11, 2026, without any deviations or variations from the use of proceeds. Please see enclosed as the statement of deviations/variations in use of proceeds of initial public offer for the quarter ended June 30, 2026 , as taken on record by as reviewed and taken on record by Axis Trustee Services Limited, Trustee to Bagmane Prime Office REIT and the Board of Directors of Bagmane Realty Investment Manager Private Limited, Manager to Bagmane Prime Office REIT. Kindly take the same on record. Thanking you, For and on behalf of Bagmane Prime Office REIT acting through its Investment Manager, Bagmane Realty Investment Manager Private Limited Venkatesh Ranganath P Company Secretary and Compliance Officer A37567 Appendix III
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BAGMANE REALTY INVESTMENT MANAGER PRIVATE LIMITED (ACTING AS INVESTMENT MANAGER TO BAGMANE PRIME OFFICE REIT) 5th floor, B Block Bagmane Tech Park, 65/2 Bagmane Laurel, C. V. Raman Nagar, Bangalore North, Bangalore - 560093, Karnataka | Tel: +91 -80-40329999 | CIN - U66309KA2024PTC183039 | Email: reitcompliance@bagmanereit.com | Website of Bagmane Prime Office REIT: https://www.bagmanereit.com/ Page 2 of 4 STATEMENT OF DEVIATION/VARIATION IN UTILISATION OF FUNDS RAISED THROUGH INITIAL PUBLIC OFFER OF UNITS OF BAGMANE PRIME OFFICE REIT Name of Listed Entity Bagmane Prime Office REIT (“Bagmane REIT”) Mode of Fund Raising Initial Public Offering of Units of Bagmane Prime Office REIT Date of Raising Funds May 12, 2026 Amount Raised ₹23,900 million* Report filed for Quarter Ended June 30, 2026 Monitoring Agency Not Applicable Monitoring Agency Name, if applicable Not Applicable Is there a Deviation/Variation in use of funds raised No If yes, whether the same is pursuant to change in terms of a contract or objects, which was approved by the Unitholders Not Applicable If Yes, Date of Unitholders Approval Not Applicable Explanation for the Deviation / Variation Not Applicable Comments of the Audit Committee after review None Comments of the auditors, if any None * The amount of ₹23,900 million represents the Fresh Issue of 239,000,000 Units by Bagmane REIT and excludes the Offer for Sale of 101,500,000 Units aggregating to ₹10,150 million.
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BAGMANE REALTY INVESTMENT MANAGER PRIVATE LIMITED (ACTING AS INVESTMENT MANAGER TO BAGMANE PRIME OFFICE REIT) 5th floor, B Block Bagmane Tech Park, 65/2 Bagmane Laurel, C. V. Raman Nagar, Bangalore North, Bangalore - 560093, Karnataka | Tel: +91 -80-40329999 | CIN - U66309KA2024PTC183039 | Email: reitcompliance@bagmanereit.com | Website of Bagmane Prime Office REIT: https://www.bagmanereit.com/ Page 3 of 4 Set forth below are objects for which funds have been raised in the IPO and details of deviation, if any: Original Object Modified Object, if any Original Allocation (₹in Million) Modified Allocation, if any Funds Utilized (₹ in Million) Amount of Deviation/ Variation for the quarter according to applicable object Remarks if any Part funding of acquisition by Bagmane Developers Private Limited, Holdco of Bagmane REIT, of Luxor @ Bagmane Capital Tech Park Not Applicable 14,200 Not Applicable 14,200 Not Applicable Nil Part funding of acquisition by Bagmane Developers Private Limited, Holdco of Bagmane REIT of 93.00% of the issued and paid -up equity share capital of Bagmane Rio Private Limited, SPV of Bagmane REIT Not Applicable 8,200 Not Applicable 8,200 Not Applicable Nil
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BAGMANE REALTY INVESTMENT MANAGER PRIVATE LIMITED (ACTING AS INVESTMENT MANAGER TO BAGMANE PRIME OFFICE REIT) 5th floor, B Block Bagmane Tech Park, 65/2 Bagmane Laurel, C. V. Raman Nagar, Bangalore North, Bangalore - 560093, Karnataka | Tel: +91 -80-40329999 | CIN - U66309KA2024PTC183039 | Email: reitcompliance@bagmanereit.com | Website of Bagmane Prime Office REIT: https://www.bagmanereit.com/ Page 4 of 4 Original Object Modified Object, if any Original Allocation (INR in Million) Modified Allocation, if any Funds Utilized (INR in Million) Amount of Deviation/ Variation for the quarter according to applicable object Remarks if any General purposes Not Applicable 717 Not Applicable 600 Not Applicable Nil Offer expenses relating to Fresh Issue Not Applicable 783 Not Applicable 4 Not Applicable Nil Deviation or variation could mean: (a) Deviation in the objects or purposes for which the funds have been raised or (b) Deviation in the amount of funds actually utilized as against what was originally disclosed or (c) Change in terms of a contract referred to in the fund raising document i.e. prospectus, letter of offer, etc For and on behalf of Bagmane Prime Office REIT acting through its Investment Manager, Bagmane Realty Investment Manager Private Limited Venkatesh Ranganath P Company Secretary and Compliance Officer A37567