Elevate Campuses IPO

We are an institutionalized and independent platform engaged in owning, operating, andmanaging on-campus student accommodation across HEIs in India and owning K-12assets in India and Dubai trusted by leading education groups

Strong operational capabilities and superior asset management expertise.

Commitment to superior student experience and well being.

Strategically located, quality modern portfolio.

Derisked business model with clear cash flow visibility and consistent growth and profitability.

Highly experienced senior management team.

The Pre-Acquisition Group derived 65.74%, 99.24% and 99.72% of its revenue from operations in theFinancial Years 2026, 2025 and 2024, respectively, from the student accommodation business in ourOwned Portfolio. Any inability to maintain occupancy rates may adversely affect our business, resultsof operations, financial condition, and cash flows.

The Pre-Acquisition Group derived 61.46%, 89.00% and 88.60% of its revenue from operations forthe Financial Years 2026, 2025 and 2024, respectively, from three of its largest HEIs. Any adversedevelopments affecting such HEIs may adversely affect our business, results of operations, financialcondition, and cash flows.

Our Company proposes to utilize approximately 52.38% of the Gross Proceeds of the Issue towardsacquisition of the K-12 Entities and Campuses from the fellow subsidiaries of our Promoters. We maynot be able to achieve anticipated benefits following the acquisition of K-12 Assets, which mayadversely affect our business, results of operations, financial condition, and cash flows.

The Pre-Acquisition Group derived 70.13%, 100.00% and 100.00% of its revenue from operations inthe Financial Years 2026, 2025 and 2024, respectively, from HEIs and other student accommodationassets (Woodstock and County) located in the northern and southern regions of India. Any adversedevelopments affecting such regions may adversely affect our business, results of operations, financialcondition and cash flows.

Delays in payment of lease rentals by the operators of K-12 Assets or monthly management fees byHEIs in our Managed Portfolio for student accommodation may adversely affect our business, resultsof operations, and cash flows.

Our agreements with HEIs and K-12 Operators are subject to risks of early termination, non-renewal,and renegotiation, which could adversely affect our business, results of operations, financial conditionand cash flows.

The sale of our student accommodation business at T.A. Pai Management Institute may affect ourbusiness, results of operations, financial condition and cash flows.

The Post-Acquisition Group will rely on HEIs and K-12 Operators they engage with for the quality ofeducation provided to students. Any adverse effect on the reputation of the HEIs and K-12 Assetsoperated by K-12 Operators, or the brands under which they operate, may adversely affect thebusiness, results of operations, financial condition, and cash flows of the Post-Acquisition Group.

Our expansion into greenfield development projects exposes us to regulatory, execution, financingand reputational risks, which may adversely affect our business, results of operations, financialcondition and cash flows.

The Post-Acquisition Group will have a limited operating history in relation to the K-12 Assetsbusiness, which may make it difficult to evaluate its future prospects and could adversely affect ourbusiness, results of operations, financial condition and cash flows.