Documents Approved and Enclosed

The following documents were enclosed with the submission to the exchanges:

  • Unaudited Financial Results (Standalone & Consolidated) for the quarter and half-year ended September 30, 2026, along with information under Regulation 52(4).
  • Limited Review Report by Joint Statutory Auditors (Singhi & Co. and Lodha & Co. LLP).
  • Statement of utilization of proceeds for the quarter ended September 30, 2026, under Regulations 52(7) and 52(7A).
  • Security Cover Certificate for the quarter ended September 30, 2026, under Regulation 54(3) read with SEBI Master Circular dated September 28, 2026.

The company will arrange to publish these Financial Results in newspapers as per Regulations 47 and 52(8).

Key Standalone Financial Highlights (₹ crore, unless stated otherwise)

Profit & Loss Statement (Quarterly):

  • Revenue from Operations (Q2 FY27): ₹3,625.20
  • Revenue from Operations (Q2 FY26): ₹2,842.63
  • Total Income (Q2 FY27): ₹3,683.06
  • Total Expenses (Q2 FY27): ₹3,124.41
  • Profit Before Exceptional Items & Tax (Q2 FY27): ₹558.65
  • Exceptional Items (Q2 FY26): ₹(81.00) crore (related to amalgamation and tax compensation)
  • Profit Before Tax (Q2 FY27): ₹558.65
  • Net Profit for the period (Q2 FY27): ₹529.21
  • Net Profit for the period (Q2 FY26): ₹277.67
  • Basic EPS (Q2 FY27): ₹22.97
  • Basic EPS (Q2 FY26): ₹12.25

Profit & Loss Statement (Half-Yearly - H1 FY27):

  • Revenue from Operations: ₹7,014.83
  • Total Income: ₹7,133.74
  • Total Expenses: ₹6,154.01
  • Profit Before Exceptional Items & Tax: ₹979.73
  • Net Profit for the period: ₹969.13
  • Basic EPS: ₹42.41

Balance Sheet (Standalone as of September 30, 2026):

  • Total Assets: ₹1,18,565.00 crore
  • Loans: ₹96,710.78 crore
  • Investments: ₹8,979.68 crore
  • Total Liabilities: ₹87,390.91 crore (Financial Liabilities)
  • Total Equity: ₹31,174.09 crore
  • Paid-up Equity Capital: ₹47.33 crore

Capital Raising Activities

1. Qualified Institutions Placement (QIP):

During the quarter, the Company completed a QIP and allotted 99,52,606 equity shares of face value ₹2 each at an issue price of ₹2,110 per share, aggregating to ₹2,099.99 crore.

  • Paid-up equity share capital increased by ₹1.99 crore.
  • Securities premium increased by ₹2,050.01 crore (net of issue-related expenses of ₹48 crore).

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

| Sr. No. | Particulars of Proceeds | Projected Utilization | Amount Utilised | Unutilised Amount |

| 1 | Onward Lending | ₹1,999.99 cr | ₹1,999.99 cr | - |

| 2 | General Corporate Purpose | ₹52.00 cr | ₹52.00 cr | - |

| 3 | Issue Expense | ₹48.00 cr | ₹8.21 cr | ₹39.79 cr |

| Total | | ₹2,099.99 cr | ₹2,060.20 cr | ₹39.79 cr |

2. Preferential Issue of Warrants:

The Board and shareholders (via EGM on September 19, 2026) approved a preferential issue of up to 82,94,000 convertible warrants to Nithyam Realty Private Limited (a Promoter Entity) at ₹2,110 per warrant, aggregating up to ₹1,750.03 crore.

  • Each warrant is convertible into one equity share.
  • 25% of the issue price (₹437.51 crore) was received after the quarter end (September 30, 2026), and warrants were allotted.
  • The balance 75% is payable upon exercise within 18 months from the date of allotment.

Other Key Disclosures and Notes

1. Scheme of Amalgamation:

The Board had approved a Scheme of Amalgamation on March 27, 2026, amongst the Company and its wholly-owned subsidiaries (Piramal Corporate Tower Private Limited, Piramal Agastya Offices Private Limited, and DHFL Investments Limited) with an Appointed Date of April 1, 2026. The scheme is pending sanction from the Hon'ble NCLT and other regulatory approvals.

2. Exceptional Items (Previous Periods):

  • FY26 and H1 FY25: Included ₹59 crore for amalgamation costs and ₹22 crore for tax matter compensation related to an erstwhile subsidiary.
  • FY26: Depreciation included ₹675 crore impairment of Investment Property.

3. Regulatory Disclosures (RBI):

The document includes extensive mandatory disclosures as per RBI guidelines:

  • Project Finance: Detailed disclosure of project loans under implementation, including number of accounts and outstanding amounts.
  • Co-Lending Arrangements (CLAs): Total portfolio of ₹3,304.51 crore across 5 agreements. 76.2% (₹2,518.09 cr) is covered under FLDG arrangements. Portfolio performance: Stage 1 (₹3,258.06 cr), Stage 2 (₹22.89 cr), Stage 3 (₹23.56 cr).
  • COVID-19 Resolution Framework: Details of implemented resolution plans.
  • Loan Transfers: Details of loans transferred through direct assignment/participation.
  • Security Receipts: Details of SRs held with a gross value of ₹1,989.41 crore.

4. Security Cover Certificate:

The independent auditor's certificate confirms the company maintained a security cover ratio of 1.25 for its listed secured Non-Convertible Debentures (NCDs) amounting to ₹26,504.48 crore, which is above the mandatory 100% requirement.

5. Segment Information:

The Company's business falls under a single segment (lending and investing) operations concentrated in India.

Review and Compliance

The financial results were reviewed by the Audit Committee and the Joint Statutory Auditors. The auditors' review report states that based on their review, nothing has come to their attention that causes them to believe that the accompanying statement has not disclosed the information required by SEBI regulations or contains any material misstatement.

The above information is also available on the company's website at www.piramalfinance.com.