Jungle Camps India Limited Board Approves Prospectus Variations, Project Expansions, and Enhanced Borrowing Powers

The Board of Directors of Jungle Camps India Limited , formerly known as Pench Jungle Resorts Private Limited, convened on May 7, 2026, and approved a series of material variations to its prospectus dated December 12, 2024. The board meeting commenced at 01:00 PM and concluded at 04:23 PM. The resolutions, disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, cover contractor changes, project scope expansion, IPO fund reallocation, and enhanced borrowing powers.

Contractor Change for Mathura Hotel Project

The board approved replacing Kesar Construction with Moonwalk Infraprojects Private Limited (CIN: U70109DL2012PTC242171), registered at 7198, GF, Qutub Road, Paharganj, New Delhi-110055, as the civil contractor for the Mathura Hotel Project being developed through its wholly owned subsidiary, Madhuvan Hospitality Private Limited (MHPL). Shareholders had previously approved the first contractor change — from Alpha Engineering to Kesar Construction — via a Special Resolution passed through Postal Ballot, with results declared on May 12, 2025.

Kesar Construction was replaced following documented performance failures, which included:

Failure to mobilise equipment and labour at site within agreed timelines after award of contract

No agreed construction milestone achieved as of the date of the note

Work samples and test results below specified standards

Repeated formal notices issued with inadequate response from contractor management

Moonwalk Infraprojects was selected through a transparent competitive process in which quotations were invited from five contractors and evaluated on technical capability, experience, financial capacity, and quoted rates. The scope of civil work — covering RCC, brick, roads, and boundary wall — has been assigned to Moonwalk Infraprojects, while MEP and interior works will be awarded separately through competitive processes among qualified specialist contractors as civil construction progresses. The proposed shareholder approval through Postal Ballot will provide standing authorization to the Board for such contractor appointments within the overall approved project cost limits.

Expansion of Mathura Hotel from 60 Rooms to 105 Rooms

Following a detailed technical assessment by the company's architect, GENESIS (New Delhi), and MEP consultants, the board approved expanding the Mathura Hotel project scope from 60 rooms to 105 rooms with a banquet facility. The revised structure is detailed below:

Floor: Area (Sq. Ft.) Details Basement 2 (B-2): 10,343 Parking (80 cars), MEP Plant, Utilities, Water Tanks Basement 1 (B-1): 10,195 Parking (additional), Laundry, Back-of-House Ground Floor: 10,591 Restaurant (160 Pax), Lobby, Reception, Business Centre First Floor: 10,483 Banquet Hall (200 Pax), Pre-function Area, Kitchen Service Floor (2F): 9,310 HVAC Plant, Shafts, Service Ducts Third to Seventh Floor: 9,298 each Hotel Rooms (105 total — 21 per floor) Mumty/Roof: 2,751 Equipment Room, Water Tanks Total: 100,163 105 Rooms + Banquet Hall

The revised total project cost has been increased from Rs. 3250 Lakhs to Rs. 4900 Lakhs, as outlined below:

Source of Fund: As Per Prospectus (Rs. In Lakhs) Proposed Project (Rs. In Lakhs) Change IPO Proceeds: 1150 1150 No Change JCIL Internal Accruals: Nil 550 Rs. 550 Lakhs added from JCIL Internal Accrual Debt Financing: 2100* 3200** — Total Project Cost: 3250 4900 —

*Sanctioned from HDFC. **Applied with TFCI/HDFC

The head-wise cost breakdown for the revised project is as follows:

Cost Category: Estimated Amount (Rs. Lakhs) Contractor/Vendor Civil Work (A) — RCC + Brick + Roads + Boundary Wall: 1,557.69 Moonwalk Infraprojects Pvt Ltd (Proposed) MEP-HVAC — Chillers, FCUs, Ducts, Controls: 571.85 To be appointed as per IHG standards MEP-Electricals & FAS — RMU, LT Panels, All Wiring, Fire Alarm: 676.22 To be appointed as per IHG standards MEP Fire Fighting — Pumps, Sprinklers, Hydrants: 170.55 To be appointed as per IHG standards MEP-Plumbing & Sanitary — CPVC supply, SWR drainage, storm water: 227.36 To be appointed as per IHG standards B. MEP Total: 1,645.98 — Room Interior — 105 Guest Rooms FF&E + Bathrooms: 644.28 To be appointed as per IHG standards F&B, Public Area Interior — Restaurant, Banquet, Lobby, Corridors, Furniture, Kitchen Equipment: 551.94 To be appointed as per IHG standards Total Interior Work (C): 1,196.22 — Elevator & Systems (D) — Lifts + IT & Technology: 214.50 To be appointed as per IHG standards Soft Costs (E) — Architect, Consultants, Pre-Opening Expenses: 285.61 — Total Project Cost: 4,900.00 —

Reallocation of IPO Proceeds from Parsili to Sheopur Fort Heritage Hotel

The board also approved the reallocation of Rs. 700 Lakhs of IPO proceeds originally earmarked under Object-1 of the prospectus for the development of a wildlife resort at Parsili, Sidhi, Madhya Pradesh. The Parsili project has not commenced due to pending regulatory clearances under Section 29 and Section 35(6) of the Wildlife (Protection) Act, 1972, from the Madhya Pradesh State Wildlife Board (MPSWB), given the land's proximity to Son Gharial Sanctuary. Additionally, Environmental Impact Assessment and Forest Clearance from the Ministry of Environment, Forest and Climate Change may be required, with processes typically taking 18–36 months and no guaranteed outcome.

The management has proposed reallocating these proceeds to the Sheopur Fort Heritage Hotel project. Key details of the proposed project are as follows:

Parameter: Details Project Name: Sheopur Fort Heritage Hotel Project Description: Adaptive heritage reuse of an approx. 500-year-old fort complex — boutique luxury hotel with 60 rooms and 2 banquet halls Location: Kila, Ward No. 1, Sheopur, District Sheopur, Madhya Pradesh (on Seep River) Land Holding: MPTB Lease — Khasra No. 1348, Patwari Halka 36, Village and Tehsil Sheopur, District Sheopur (M.P.) — 1.369 Hectare Lease Status: Fully Executed and Registered — Lease Deed dated 25 October 2024, Registration No. MP402682024A11281053, Sub Registrar Office Sheopur Lease Tenure: 90 Years Lessor: Madhya Pradesh Tourism Board (MPTB) Total Project Cost: Rs. 36.97 Crore IPO Proceeds to be Deployed: Rs. 700 Lakhs JCIL Internal Accrual: Rs. 4.97 Crore Debt: Rs. 25 Crore Wildlife/Forest Clearance: N.A. — project is within urban limits of Sheopur town; not in or adjacent to any wildlife sanctuary, national park, or eco-sensitive zone No. of Rooms & Other Facilities: 60 Rooms + 2 Banquet Halls + Spa + Swimming Pool + Restaurant + Reception Block Strategic Significance: India's only cheetah habitat (Kuno National Park) is 70 km away; Ranthambore tiger reserve is 40 km; Chambal Gharial Sanctuary at Pali is 15 km

Enhancement of Borrowing Powers

The board approved recommending to shareholders an increase in the overall borrowing limit to Rs. 70 Crore under Section 180(1)(c) of the Companies Act, 2013. The board also approved increasing the limit for creating charge on the company's movable and immovable assets to secure borrowings up to Rs. 70 Crore. Shareholder approvals for both resolutions will be sought through a Postal Ballot process, for which the board also fixed a cut-off date, availed e-voting facilities from Central Depository Services (India) Limited, and appointed Mr. Shivam Agarwal, Practising Company Secretary, as the scrutinizer for the e-voting process. None of the directors or key managerial personnel of the company or their relatives are stated to be concerned or interested in any of the proposed resolutions.

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