Marathon Nextgen Realty Limited (MARATHON) announced its financial results for the second quarter and half year ended September 30, 2026. The company reported total income of ₹145 crore, EBITDA of ₹61 crore, and profit after tax (PAT) of ₹45 crore. Pre-sales stood at ₹154 crore, led by the residential business with good support from the commercial segment.

Residential Business Growth

The residential business delivered strong momentum, with pre-sales growing 70% quarter-on-quarter. Our affordable and mid-income portfolio led this growth with a 155% increase, while Monte South, our premium development in Byculla, grew 16%.

Commercial Segment Performance

In commercial, demand for quality Grade-A office space in Mumbai remains strong, and Marathon Futurex in Lower Parel continues to benefit. A leading financial services group recently expanded its presence in the building by about 45,000 sq. ft.

Future Pipeline and Construction

Construction across Monte South, Nexzone, NeoHomes, and Marathon Millennium is progressing as planned. We have added two redevelopment projects in Versova and Sewri, with a combined estimated GDV of ₹900 crore, in line with our selective approach to well-connected Mumbai micro-markets.

With a net debt-free balance sheet, a diversified portfolio, and a proven execution track record, we are well positioned for the next phase of growth. Our focus remains on timely delivery, disciplined capital allocation, and unlocking value from our land bank to create sustainable long-term value for our shareholders.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Marathon Nextgen Realty Limited

Marathon Nextgen Realty Limited belongs to the Real Estate › Real Estate – Development sector. Here’s a quick read on where the business and the stock stand today.

Marathon trades in the lower quarter of its 52-week range. The PEG of 0.31 is extremely low. Either the market misses the growth story, or there is a catch worth investigating. Industry-leading margins of 35.0% reflect exceptional pricing power and operational efficiency. The stock sits at 12% of its 52-week range, close to annual lows. Historically, value investors build positions at these levels — though cheap stocks can stay cheap. Revenue grows at 19.0% and profits at 40.0%. The business is in good shape. Moreover, a stock that does not move despite strong fundamentals often offers better value than one already priced for perfection. Check Fundamentals of Marathon Nextgen Realty Limited.

Marathon Nextgen Realty Limited (MARATHON) announced its financial results for the first quarter of FY27, marking a multi-quarter high with revenue of ₹217 crore and a strong profit after tax (PAT) of ₹52 crore. Commenting on the company’s performance, Mr. Chetan Shah, Chairman & Managing Director, highlighted the disciplined execution across the portfolio and the resilience of the business model.

Operational Highlights

The company achieved full occupancy certificates for the Cedar and Daffodil towers at Nexzone, a significant milestone for future collections. Construction activity across key developments continues to progress as planned, reflecting a focus on timely delivery and operational excellence. Additionally, Marathon NextGen Realty strengthened its long-term development pipeline by adding two redevelopment projects in Versova and Sewri, totaling a gross development value (GDV) of ₹900 crore.

Financial Performance

The total revenue for Q1 FY27 stood at ₹217 crore, with EBITDA at ₹66 crore. The company maintained a net debt-free balance, ensuring financial flexibility. The Mumbai real estate market continues to demonstrate resilience, supported by sustained end-user demand and ongoing urban transformation.

Looking ahead, Marathon NextGen Realty remains confident about its growth trajectory, prioritizing timely execution of existing projects, disciplined capital deployment, and expansion of its redevelopment platform. With a strong balance sheet and an expanding project pipeline, the company is well-positioned to capitalize on future opportunities.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Marathon Nextgen Realty Limited

Marathon Nextgen Realty Limited belongs to the Real Estate › Real Estate – Development sector. Here’s a quick read on where the business and the stock stand today.

Marathon drops 24.5% over three months and trades near its 52-week lows. The PEG of 0.68 signals undervaluation relative to growth. It is a potential re-rating candidate. Industry-leading margins of 40.9% reflect exceptional pricing power and operational efficiency. The stock sits at 6% of its 52-week range, close to annual lows. Historically, value investors build positions at these levels — though cheap stocks can stay cheap. Revenue grows at -10.8% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Marathon Nextgen Realty Limited.

Marathon Nextgen Realty Limited (MARATHON) today announced that its subsidiary, Sunset Spaces Private Limited, entered into a Joint Development Agreement for a cluster redevelopment project in Sewri, Mumbai. The proposed development will comprise a high-rise residential tower with high-street retail spaces. The project is situated on a land parcel measuring approximately 7,500 square metres and has an estimated Gross Development Value (GDV) of approximately ₹450 crore for MNRL. The development potential and estimated GDV are subject to receipt of the requisite statutory approvals, finalisation of development plans, applicable regulations, and prevailing market conditions.

Strategic Expansion into Sewri

Commenting on the development, Mr. Parmeet Shah, Director, Sunset Spaces Private Limited, said: ‘We are pleased to announce our entry into Sewri through this joint development project. Sewri is a well-connected and strategically important South Mumbai micro-market, with major infrastructure investments significantly improving its connectivity and long-term growth potential. The project gives Marathon a strong and visible presence in a location where we have not previously operated. Our strategy is to steadily expand the Marathon footprint across high-potential Mumbai micro-markets through carefully selected opportunities. This joint development marks our expansion into cluster redevelopment, complementing our recent entry into society redevelopment. These avenues further broaden the routes through which we can grow, while remaining disciplined about location, product quality, and execution.’

Improving Connectivity and Long-term Appeal

Sewri is emerging as one of Mumbai’s most well-connected locations. The operational Atal Setu has positioned the area as an important gateway between South Mumbai, Navi Mumbai, and the wider Mumbai Metropolitan Region. The upcoming Sewri-Worli Elevated Connector is expected to substantially improve east-west connectivity by bridging Atal Setu, the Coastal Road, and the Bandra-Worli Sea Link. Beyond its excellent connectivity, Sewri offers beautiful views of Mumbai’s eastern waterfront, which is often home to flocks of flamingos. The area’s improving accessibility, South Mumbai location, amazing views, and relative value compared with more established nearby markets strengthen Sewri’s long-term appeal as a residential destination.

The project will now progress through the planning and regulatory approval process. The Company will make further disclosures regarding approvals, project timelines, and other material developments in accordance with applicable laws and regulatory requirements.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Marathon Nextgen Realty Limited

Marathon Nextgen Realty Limited belongs to the Real Estate › Real Estate – Development sector. Here’s a quick read on where the business and the stock stand today.

Marathon drops 17.1% over three months and trades near its 52-week lows. The PEG of 0.68 signals undervaluation relative to growth. It is a potential re-rating candidate. Industry-leading margins of 40.9% reflect exceptional pricing power and operational efficiency. The stock sits at 6% of its 52-week range, close to annual lows. Historically, value investors build positions at these levels — though cheap stocks can stay cheap. Revenue grows at -10.8% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Marathon Nextgen Realty Limited.