Master Risk Disclosure Statement

Commercial real estate is an inherently illiquid asset class compared to public equities, mutual funds, or bank fixed deposits.

• •Fractional co-ownership titles represent beneficial interests in Special Purpose Vehicle (SPV) property holdings, which are not listed on public stock exchanges.
• •Holders should view co-ownership acquisitions as medium-to-long-term investments (typically 3 to 5+ years).
• •Redemption of co-ownership titles is dependent on secondary P2P transfers or scheduled SPV asset liquidation events.

Secondary P2P title transfers rely on willing buyer availability, agreed pricing, and overall market interest.

• •P2P listing does not guarantee an immediate sale or execution at the seller's asking price.
• •During periods of low market demand or macroeconomic uncertainty, finding a secondary buyer may take extended time.
• •Eshwara does not act as a market maker and does not guarantee buyback or liquidity timelines.

Property rental cash flows depend directly on continuous commercial tenant occupancy and timely lease payments.

• •Commercial tenants may vacate upon lease expiration, exercise early termination options, or default on lease obligations.
• •Re-tenanting commercial space may involve marketing lead times, tenant improvement fit-out allowances, and rent-free periods.
• •Unoccupied property periods result in zero gross rental distribution for that specific SPV during the vacant duration.

Monthly rental payouts can fluctuate due to tenant lease adjustments, operational expenses, or property maintenance.

• •Gross rental income may vary based on contractual escalation schedules, tenant withholding taxes, or property tax revisions.
• •Unforeseen capital expenditures, structural maintenance, or insurance adjustments are deducted from SPV gross income prior to distribution.
• •Monthly yield distributions are variable and must not be interpreted as fixed interest or guaranteed returns.

Real estate valuations and commercial rental demand are subject to broader economic, interest rate, and industry cycles.

• •Changes in national or regional economic growth, interest rates, and inflation impact commercial property demand.
• •Over-supply of commercial office or logistics space in a specific micro-market can exert downward pressure on rental rates.
• •Regulatory changes, zoning laws, or tax modifications (such as GST or stamp duty revisions) may affect SPV asset operations.

Commercial property market values fluctuate over time and asset appreciation is subject to market demand.

• •Independent quarterly valuations provide fair-market estimates but do not guarantee that the property can be sold at the appraised value.
• •Asset valuations can decline due to physical building aging, micro-market shifts, or broader commercial real estate downturns.
• •Upon ultimate SPV property sale, final net proceeds distributed to co-owners may be higher or lower than the initial acquisition cost.

Historical asset returns, target CAGR figures, and projected yield benchmarks do not guarantee future performance.

• •Capital appreciation is speculative and entirely non-guaranteed.
• •Past distributions, historical platform CAGR statistics, or market index comparisons (e.g. SENSEX or REIT benchmarks) serve for illustrative review only.
• •No statement on the platform should be construed as a promise, warranty, or guarantee of capital preservation or return rate.