Summary of Key Information:

Reporting Period: Quarter and Half Year ended September 30, 2026

Nature of Filing / Announcement: Outcome of Board Meeting - Financial Results and Corporate Action

Audit Opinion:

Clean opinion - Limited Review Report issued by SRBC & Co LLP stated nothing has come to their attention that causes them to believe the financial results contain any material misstatement.

Key Financial Highlights [₹ millions]:

Consolidated Results:

Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹2,360.60 (vs ₹1,808.90 in Q2 FY26, +30.5% YoY)
  • Total Income: ₹2,474.32 (vs ₹1,938.21 in Q2 FY26)
  • EBITDA: Not explicitly disclosed
  • Net Profit: ₹329.85 (vs ₹431.70 in Q2 FY26, -23.6% YoY)
  • EPS (Basic): ₹3.48 (vs ₹4.88 in Q2 FY26)
  • EPS (Diluted): ₹2.83 (vs ₹4.80 in Q2 FY26)

Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹4,551.95 (vs ₹3,477.78 in H1 FY26, +30.9% YoY)
  • Total Income: ₹4,754.87 (vs ₹3,699.09 in H1 FY26)
  • Net Profit: ₹670.43 (vs ₹1,619.13 in H1 FY26, -58.6% YoY)
  • EPS (Basic): ₹7.33 (vs ₹18.31 in H1 FY26)
  • EPS (Diluted): ₹6.01 (vs ₹18.17 in H1 FY26)
  • Other Equity: ₹36,590.17 (vs ₹5,274.01 as of March 31, 2026)
  • Cash and Cash Equivalents: ₹1,291.95 (vs ₹1,871.97 as of March 31, 2026)
  • Total Debt (Borrowings): ₹39,195.23 (₹37,527.16 non-current + ₹1,668.07 current)

Standalone Results:

Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹370.80 (vs ₹302.38 in Q2 FY26, +22.6% YoY)
  • Net Profit: ₹33.29 (vs ₹48.46 in Q2 FY26, -31.3% YoY)
  • EPS (Basic): ₹0.35 (vs ₹0.55 in Q2 FY26)

Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹678.78 (vs ₹629.07 in H1 FY26, +7.9% YoY)
  • Net Profit: ₹66.65 (vs ₹1,001.62 in H1 FY26, -93.3% YoY)
  • EPS (Basic): ₹0.73 (vs ₹11.33 in H1 FY26)
  • Other Equity: ₹39,264.25 (vs ₹8,885.04 as of March 31, 2026)
  • Cash and Cash Equivalents: ₹102.00 (vs ₹116.68 as of March 31, 2026)
  • Total Debt (Borrowings): ₹4,688.27 (₹4,623.82 non-current + ₹64.45 current)

Segment-wise Performance:

Consolidated Segment Revenue (Q2 FY26):

  • Student Accommodation (India): ₹1,301.45 (vs ₹937.62 in Q2 FY26, +38.8% YoY)
  • K-12 Schools (India): ₹466.88 (vs ₹497.48 in Q2 FY26, -6.2% YoY)
  • K-12 Schools (Outside India): ₹592.27 (vs ₹373.88 in Q2 FY26, +58.4% YoY)

Consolidated Segment Results (Q2 FY26):

  • Student Accommodation (India): ₹353.67
  • K-12 Schools (India): ₹324.31
  • K-12 Schools (Outside India): ₹480.71

Corporate Actions:

  • Registered Office Shift: From Naman Midtown, Unit No 902-906, 9th Floor, Tower B, Senapati Bapat Marg, Lower Parel, Mumbai - 400013 to Unit No 1701, 17th Floor, One Unity Center, Senapati Bapat Marg, Prabhadevi, Mumbai - 400013, effective December 1, 2026
  • No dividend declarations, share splits, bonus issues, or buybacks announced

Other Significant Information:

IPO Proceeds Utilization (as of September 30, 2026):

  • Total IPO Proceeds: ₹21,000.00 million
  • Acquisition of SPVs: ₹11,000.00 million (proposed, ₹0 utilized)
  • Investment in existing subsidiaries for debt repayment: ₹7,500.00 million (proposed, ₹0 utilized)
  • General corporate purposes: ₹1,296.13 million (proposed, ₹0 utilized)
  • IPO related expenses: ₹1,203.87 million (proposed, ₹0 utilized)
  • Total Unutilized Amount: ₹21,000.00 million

Exceptional Items (Consolidated H1 FY26):

  • Gain of ₹69.27 million from impairment reversal on intangible assets and goodwill

Finance Costs (Consolidated Q2 FY26):

  • ₹860.80 million, increased from ₹620.38 million in Q2 FY26 (+38.7% YoY)

Entities Included in Consolidation:

The consolidated results include 29 entities: Elevate Campuses Limited (Holding Company) and 28 subsidiaries including Good Host Spaces various entities, Elevate UAE AssetCo Holdings Pte. Ltd., Souk HIS Holdings Pte. Ltd., Souk NLCS Holdings Pte. Ltd., and various Infraschool and Purelearn entities.