PINDHOSPITALITY : SIGNS 18-YEAR SHIMLA RESORT LEASE, PAYS RS 2.12 CR SECURITY DEPOSIT

• Agreement to lease land admeasuring 00-80-16 hectares at Shimla Rural, Himachal Pradesh, for setting up an eco-friendly resort/cottages • Lease term 18 years; initial monthly rent ₹21.10 L for the first year with annual escalation as per agreement • Security deposit of ₹2.12 Cr paid; rent commences from the month of lease deed registration, subject to permissions • Lessor is Sh. Arvind Sharma; transaction is not a related party transaction and lessor is unrelated to promoters or KMP • Lease deed needs statutory approvals, including permission under Section 118 of the Himachal Pradesh Tenancy and Land Reforms Act, 1972 • Property is part of the company's proposed expansion plans, alongside revisiting the proposed Haveli project and the proposed Shimla project Impact: Neutral (Adds an 18-year leased resort site in Shimla, but rent outgo and pending approvals limit near-term earnings visibility)

Pind Hospitality Ltd

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