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Shareholders & Creditors Approve Marathon Nextgen's Composite Scheme of Amalgamation with 99.8% Votes
Marathon Nextgen Realty announced that its equity shareholders and unsecured creditors have approved the Composite Scheme of Amalgamation and Arrangement in NCLT-convened meetings on September 7, 2026. Among voting shareholders, 99.81% of total votes polled (4.92 crore votes) were cast in favour, including 99.22% support from public non-institutional voters. Unsecured creditors unanimously approved the scheme, with 100% of votes cast representing Rs 1.10 crore in debt. This merger is key to consolidating over 400 acres of promoter-held land bank into the listed entity.
Confidence: HIGH
What changedEquity shareholders and unsecured creditors have formally cleared the Composite Scheme of Amalgamation and Arrangement in NCLT-convened meetings.
Why it mattersSecuring stakeholder approval clears a critical regulatory hurdle toward consolidating over 400 acres of promoter land parcels into Marathon Nextgen Realty, significantly augmenting future project development scale.
Total votes cast in favour (shares): 49,199,284Shareholder approval rate: 99.8137%Unsecured creditor debt approving scheme: Rs 1,09,97,259Unsecured creditor approval rate: 100%
📅 Short termClearance by both equity holders and creditors removes internal hurdles; the company will now approach the NCLT for final approval.
📈 Long termCrucial structural step enabling the company to integrate multi-phase land parcels in Panvel, Bhandup, and Dombivli into the listed entity, expanding long-term development runway.
⚠ Risk flags
- Pending final sanction and order from the NCLT
- Execution and cash flow mismatch risks during future large-scale project rollouts
Key Highlights
Scheme approved by equity shareholders with 99.81% votes in favour (49,199,284 votes)
Public non-institutional shareholders voted 99.22% in favour (11,628,520 votes)
Unsecured creditors voted 100% in favour across 29 creditors representing Rs 1,09,97,259 principal debt
Overall shareholder turnout stood at 73.11% of outstanding voting capital
👀 What to Watch
Track the subsequent petition filing and final sanction from the Hon'ble NCLT Mumbai Bench, as well as final share swap and implementation timelines.
Shareholders & Creditors Approve Composite Scheme of Amalgamation with 99.81% Favor
Marathon Nextgen Realty announced that its equity shareholders and unsecured creditors have approved the Composite Scheme of Amalgamation and Arrangement in NCLT-convened meetings held on September 7, 2026. Among voting equity shareholders, 99.81% of total votes polled were in favor of the scheme, including 99.22% support from public non-institutional voters. Unsecured creditors unanimously approved the resolution with 100% of votes cast across claims totaling Rs 1.10 crore. This structural consolidation is intended to unify promoter-held entities and land banks into the listed platform.
Confidence: HIGH
What changedEquity shareholders and unsecured creditors have formally approved the Composite Scheme of Amalgamation and Arrangement under NCLT supervision.
Why it mattersClearing shareholder and creditor hurdles is a vital step toward consolidating 400+ acres of promoter land parcels into Marathon Nextgen Realty, scaling up its development pipeline.
Shareholder approval rate: 99.8137%Public non-institutional approval: 99.2167%Creditor debt voted in favor: Rs 1,09,97,259Total votes polled: 4,92,91,094
📅 Short termPositive regulatory step completed with minimal public shareholder opposition; market focus will shift to final NCLT hearing dates.
📈 Long termCrucial structural driver to fold promoter-held land into the listed entity, significantly expanding long-term development runway in key MMR corridors.
⚠ Risk flags
- Pending final NCLT approval and regulatory sanctions
- Execution and integration risks relating to multiple demerged and merged private entities
Key Highlights
Overall 99.81% of equity shareholder votes polled were in favor (4,91,99,284 votes in favor vs 91,810 against)
Public non-institutional shareholders backed the resolution with 99.22% votes in favor (1,16,28,520 votes)
Unsecured creditors voted 100% in favor representing Rs 1,09,97,259 in outstanding principal debt
Scheme involves amalgamation of Matrix Water Management, Sanvo Resorts, and demergers from Marathon Realty, Matrix Enclaves, and Matrix Land Hub
👀 What to Watch
Track the upcoming final sanction of the Composite Scheme by the NCLT Mumbai Bench and subsequent execution timelines for asset integration.
Marathon Concludes NCLT-Convened Meetings of Shareholders & Creditors for Composite Scheme
Marathon Nextgen Realty completed the NCLT-convened meetings of its equity shareholders and unsecured creditors on September 7, 2026. The meetings were conducted to seek approval for the Composite Scheme of Amalgamation and Arrangement involving Matrix Water Management, Sanvo Resorts, Marathon Realty, Matrix Enclaves, Matrix Land Hub, Marathon Nextgen Realty, and Marathon Energy. Remote e-voting concluded on September 6, 2026, and final scrutinizer voting results will be filed separately.
Confidence: HIGH
What changedThe company completed the court-convened voting process for both equity shareholders and unsecured creditors regarding its proposed group amalgamation scheme.
Why it mattersSecuring shareholder and creditor approval is a vital statutory step to execute the group consolidation, which aims to bring over 400 acres of promoter-held land parcels into the listed entity.
Shareholders meeting date: September 7, 2026Creditors meeting date: September 7, 2026NCLT order date: July 2, 2026Entities involved in scheme: 7
📅 Short termScrutinizer's report and formal voting results will be submitted to the stock exchanges within prescribed LODR timelines.
📈 Long termIf approved by NCLT, the composite amalgamation will consolidate significant land assets under the listed vehicle, expanding future development pipeline across MMR.
⚠ Risk flags
- Final approval is subject to NCLT sanction and compliance with regulatory conditions
- Post-merger integration and project execution timelines across newly consolidated land parcels
Key Highlights
Conducted NCLT-ordered meeting of Equity Shareholders on September 7, 2026 (11:00 AM - 11:38 AM IST)
Conducted NCLT-ordered meeting of Unsecured Creditors on September 7, 2026 (12:30 PM - 12:58 PM IST)
Remote e-voting window was open from September 4, 2026 (9:00 AM) to September 6, 2026 (5:00 PM)
Composite Scheme encompasses amalgamation and arrangement across 7 group entities pursuant to NCLT order dated July 2, 2026
👀 What to Watch
Track the upcoming disclosure of formal voting results and the Scrutinizer Report under Regulation 44(3), followed by final NCLT sanction for the composite scheme.
NCLT-Convened Shareholder & Creditor Meetings Conclude for Marathon Composite Merger Scheme
Marathon Nextgen Realty conducted its NCLT-convened meetings for Equity Shareholders and Unsecured Creditors on September 7, 2026. The meetings were held to seek approval for the Composite Scheme of Amalgamation and Arrangement involving seven entities, including Marathon Realty and Matrix Water Management. Remote e-voting took place between September 4, 2026, and September 6, 2026, alongside voting during the meeting. Detailed voting results and the Scrutinizer's Report will be submitted separately under Regulation 44(3).
Confidence: HIGH
What changedMarathon Nextgen Realty successfully conducted its NCLT-directed meetings of equity shareholders and unsecured creditors to vote on the composite scheme of arrangement.
Why it mattersThis is a critical regulatory milestone toward consolidating promoter-held land parcels (400+ acres) into the listed entity to unify future development pipelines.
Meeting Date: September 7, 2026Remote E-voting Start: September 4, 2026Remote E-voting End: September 6, 2026NCLT Order Date Convening Meeting: July 2, 2026
📅 Short termWatch for the formal voting outcome to confirm approval by the requisite majority of shareholders and creditors.
📈 Long termIf sanctioned by the NCLT, the consolidation will significantly enhance the company's project pipeline and land bank across key MMR growth corridors.
⚠ Risk flags
- Subject to final NCLT approval and regulatory sanctions
- Related-party transaction integration risks
Key Highlights
Equity Shareholders meeting concluded at 11:38 AM IST on September 7, 2026, with requisite quorum.
Unsecured Creditors meeting concluded at 12:58 PM IST on September 7, 2026.
Remote e-voting conducted from September 4, 2026 (9:00 AM) to September 6, 2026 (5:00 PM).
Scheme seeks amalgamation/arrangement across 7 group entities to consolidate promoter-held assets.
Formal voting results and Scrutinizer's Report will be filed separately under Regulation 44(3).
👀 What to Watch
Track the upcoming Regulation 44(3) voting results disclosure and subsequent NCLT final sanction hearings for the merger scheme.
Q1 FY27 Concall: Total Income at ₹217 Cr, Outlines ₹8,700+ Cr Project Pipeline & ₹200 Cr Deployment
Marathon Nextgen Realty reported Q1 FY27 total income of ₹217 crores, EBITDA of ₹66 crores, and PAT of ₹52 crores, with overall collections reaching ₹146 crores. Management highlighted a sizable future launch pipeline including Monte South Commercial (GDV ₹3,400 cr), Monte South Tower D (GDV ₹1,600 cr), Bhandup Neo Series (GDV ₹2,800 cr), and new redevelopment projects in Versova and Sewri (combined GDV ~₹900 cr). The company plans to deploy ~₹200 crores of surplus capital into new project acquisitions in FY27 while maintaining an EBITDA margin target of 30-35%.
Confidence: HIGH
What changedRelease of the Q1 FY27 earnings call transcript detailing project-level sales velocity, execution milestones, and new development opportunities.
Why it mattersProvides clear operational visibility into a future development pipeline exceeding ₹8,700 crores in GDV and capital deployment strategy while operating virtually debt-free.
Q1 FY27 Total Income: INR 217 croresQ1 FY27 PAT: INR 52 croresMerged Booking Value (Q1): INR 108 croresMonte South Commercial GDV: INR 3,400 croresPlanned FY27 Capital Deployment: INR 200 crores
📅 Short termSolid operational updates and strong collection figures provide steady near-term confidence in execution and revenue recognition.
📈 Long termExecution and monetization of the large GDV pipeline across MMR micro-markets (Byculla, Bhandup, Panvel) will drive scale and structural earnings over the next 3-5 years.
⚠ Risk flags
- Approval and construction delays in high-rise/redevelopment projects
- Demand slowdown or pricing pressure in Mumbai Metropolitan Region (MMR) real estate
Key Highlights
Q1 FY27 total income stood at ₹217 crores, EBITDA at ₹66 crores, and PAT at ₹52 crores.
Merged sales booking value stood at ₹108 crores (46,000 sq ft) with collections of ₹146 crores.
Key upcoming pipeline includes Monte South Commercial (₹3,400 cr GDV) and Bhandup Neo Series (₹2,800 cr GDV).
Added redevelopment projects in Versova (>₹450 cr GDV) and Sewri (~₹450 cr GDV).
Company plans to deploy ~₹200 crores of surplus capital into new projects during FY27.
👀 What to Watch
Track launch timelines and pre-sales velocity for Monte South Commercial and the Bhandup Neo Series, along with regulatory approvals for the Versova/Sewri redevelopment projects.
Marathon Nextgen Q1 FY27: ₹840 Cr GDV Addition and ₹900 Cr QIP Progress Highlighted
Marathon Nextgen Realty's Q1 FY27 investor update details a significant scale-up strategy following a ₹900 Cr QIP in 2025. The company recently acquired controlling stakes in three entities, adding a Gross Development Value (GDV) potential of ~₹840 Cr, which is approximately 2.47x its TTM revenue of ₹339 Cr. The ongoing structural consolidation of a 400+ acre promoter-held land bank into the listed entity remains the central growth driver. With a near-zero debt profile (₹1 Cr debt vs ₹2,163 Cr net worth), the company is well-positioned to execute its 15,000-home pipeline.
Confidence: HIGH
What changedThe company has transitioned into a unified development platform by integrating promoter-held assets and securing significant growth capital through a ₹900 Cr QIP.
Why it mattersThe addition of ₹840 Cr in GDV and the consolidation of a 400-acre land bank provide high revenue visibility compared to the current TTM revenue of ₹339 Cr, potentially re-rating the business as projects launch.
QIP Fundraise: ₹900 CrNew GDV Potential: ₹840 CrGDV vs TTM Revenue: 247.8%Land under development: 4 million sq. ft.Debt-to-Equity: 0.00
📅 Short termThe market is likely to view the scale of new acquisitions and the clean balance sheet positively, though actual revenue impact depends on project launch timelines.
📈 Long termThe consolidation of the 400-acre land bank in high-growth corridors like Panvel (Navi Mumbai) provides a multi-year growth runway for the company.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk in large-scale township developments
- Interest rate sensitivity affecting residential sales velocity
- Timeline uncertainty for the promoter land bank merger
Key Highlights
Acquired controlling stakes in 3 real estate entities in 2026, adding ~₹840 Cr in GDV potential.
Successfully raised ₹900 Cr through a QIP in 2025, representing ~37% of the current market capitalization.
Current development pipeline includes 15,000+ homes and 4 million sq. ft. of land under active development.
Maintains a robust balance sheet with a Debt-to-Equity ratio of 0.00 and a net worth of ₹2,163 Cr.
Acquired a 90% stake in Sunset Spaces Pvt Ltd in 2026 to expand the redevelopment project pipeline.
👀 What to Watch
Investors should monitor the execution timeline of the ₹840 Cr GDV projects and the regulatory progress of the 400-acre land bank merger, expected to conclude within 12-15 months.
₹217 Cr Revenue: Marathon Nextgen Reports Multi-Quarter High in Q1 FY27; PAT at ₹52 Cr
Marathon Nextgen reported a strong start to FY27 with Q1 revenue reaching ₹217 crore, a significant increase compared to the ₹114 crore reported in the previous quarter. Profit After Tax (PAT) remained robust at ₹52 crore, while the company maintained its net debt-free status. Operationally, the company achieved collections of ₹146 crore and a booking value of ₹108 crore for its merged portfolio. Notably, it added two new redevelopment projects in Mumbai with a combined Gross Development Value (GDV) of ₹900 crore, which is approximately 2.65x its TTM revenue.
Confidence: HIGH
What changedThe company achieved a sharp sequential revenue recovery to ₹217 crore and significantly expanded its project pipeline with ₹900 crore in new redevelopment GDV.
Why it mattersThe strong revenue and collection figures improve liquidity for ongoing projects, while the new project additions provide substantial long-term revenue visibility relative to the company's current scale.
Q1 FY27 Revenue: ₹217 croreQ1 FY27 PAT: ₹52 croreNew Project GDV: ₹900 croreGDV vs TTM Revenue: 265.4%Q1 Collections (Merged): ₹146 crore
📅 Short termThe stock may react positively to the multi-quarter high revenue and the addition of high-value redevelopment projects in premium Mumbai micro-markets.
📈 Long termThe structural consolidation of the 400-acre land bank and the expansion into redevelopment projects suggest a significant scaling of operations over the next 3-5 years.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk in redevelopment projects
- Concentration in the Mumbai Metropolitan Region
- Sensitivity to interest rate cycles
Key Highlights
Revenue reached a multi-quarter high of ₹217 crore in Q1 FY27, up from ₹114 crore in Q4 FY26.
Added two new redevelopment projects in Versova and Sewri with a total GDV of ₹900 crore.
Achieved quarterly collections of ₹146 crore for the merged portfolio.
Maintained a net debt-free balance sheet with a positive net cash position.
Received full Occupancy Certificates for Cedar and Daffodil towers at the Nexzone project, enabling handovers.
👀 What to Watch
Investors should monitor the execution timeline of the newly added ₹900 crore GDV projects and the progress of the proposed merger to consolidate the 400-acre land bank, which is central to the long-term growth strategy.
49th AGM Scheduled as Marathon Nextgen Approves Q1 FY27 Financial Results
Marathon Nextgen Realty has approved its unaudited financial results for the quarter ended June 30, 2026, and scheduled its 49th AGM for September 28, 2026. The company is coming off a volatile FY26 where annual revenue contracted to ₹339.46 Cr from ₹579.92 Cr in FY25. With a market cap of ₹2408 Cr and minimal debt of ₹1 Cr, the focus remains on its 65 lakh sq. ft. development pipeline. Investors should monitor if Q1 revenue shows recovery toward the ₹140.8 Cr level seen in the same quarter last year.
Confidence: HIGH
What changedThe company has finalized its Q1 FY27 performance review and set the date for its annual shareholder meeting.
Why it mattersThis is the first financial update for the new fiscal year following a 41% revenue decline in FY26, providing a baseline for recovery expectations.
AGM Date: September 28, 2026TTM Revenue: ₹339 CrFY25 Revenue: ₹579.92 CrJun 2025 Revenue: ₹140.8 CrDebt: ₹1 Cr
📅 Short termStock performance will likely depend on the specific Q1 revenue and PAT growth figures relative to the ₹140.8 Cr base of Jun 2025.
📈 Long termStructural value depends on the successful consolidation of 400+ acres of promoter land and execution of the 65 lakh sq. ft. portfolio.
⚠ Risk flags
- Revenue volatility
- Potential cost and time overruns in project completion
Key Highlights
Board approved unaudited financial results for the quarter ended June 30, 2026.
49th Annual General Meeting scheduled for September 28, 2026.
TTM Revenue of ₹339 Cr represents a significant drop from FY25 revenue of ₹579.92 Cr.
Company is currently executing a portfolio of 65 lakh sq. ft. across multiple projects.
👀 What to Watch
Review the detailed Q1 results to check for revenue stabilization and progress on the 400-acre land bank consolidation strategy.
Marathon Nextgen Schedules Sept 7 NCLT Meeting for 400-Acre Land Bank Consolidation
Marathon Nextgen Realty has scheduled NCLT-convened meetings for equity shareholders and unsecured creditors on September 7, 2026. The meetings aim to approve a Composite Scheme of Amalgamation and Arrangement involving seven entities, including Marathon Realty Private Limited. This is a pivotal step in the company's strategy to consolidate over 400 acres of promoter-held land parcels into the listed entity. The consolidation is expected to unify development under a single platform, significantly expanding the company's current portfolio of 65 lakh sq. ft.
Confidence: HIGH
What changedThe company has moved from the proposal stage to the formal stakeholder approval stage for its massive consolidation scheme following an NCLT order dated July 2, 2026.
Why it mattersThis consolidation is the central growth driver for the company, potentially increasing its development pipeline multi-fold. Unifying 400+ acres under the listed entity provides a long-term roadmap for residential and commercial projects in the MMR region.
Land bank to be consolidated: 400+ acresCurrent execution portfolio: 65 lakh sq. ft.Market Cap: Rs 2415 CrTTM Revenue: Rs 339 CrMeeting Date: September 7, 2026
📅 Short termThe stock may see increased interest as the voting dates approach, reflecting progress on a major structural catalyst.
📈 Long termStructurally significant; if successful, the consolidation of the 400-acre land bank could fundamentally re-rate the company's NAV and future revenue potential over the next decade.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Potential dilution to minority shareholders depending on swap ratios
- Execution risk of large-scale multi-phase developments
- Regulatory delays in final NCLT approval
Key Highlights
NCLT-convened meeting for equity shareholders scheduled for September 7, 2026, at 11:00 AM.
Scheme involves the consolidation of a 400-acre land bank located in Panvel, Bhandup, and Dombivli.
Remote e-voting for shareholders is set to take place from September 4 to September 6, 2026.
The company is currently executing a portfolio of 65 lakh sq. ft. across multiple projects.
The merger is expected to be completed within 12-15 months, targeting the Navi Mumbai growth corridor.
👀 What to Watch
Investors should monitor the voting results of the September 7 meeting and the subsequent final NCLT approval. The key educational focus should be on the swap ratios and the valuation at which the 400-acre land bank is being integrated into the listed entity.
Marathon Nextgen sets Sept 7 for NCLT meeting to approve 400-acre land bank consolidation
Marathon Nextgen Realty has scheduled NCLT-convened meetings for equity shareholders and unsecured creditors on September 7, 2026. The meetings are for the approval of a Composite Scheme of Amalgamation involving several promoter-led entities, including Marathon Realty Private Limited. This is a critical step in the company's stated strategy to consolidate a 400+ acre land bank into the listed entity. The consolidation aims to unify development under a single platform, specifically targeting high-growth corridors like Navi Mumbai.
Confidence: HIGH
What changedThe company has progressed from the proposal stage to the formal NCLT-mandated approval stage for its major consolidation scheme.
Why it mattersThis consolidation is the central pillar of the company's growth strategy, potentially expanding its development pipeline significantly beyond its current TTM revenue of ₹339 Cr by integrating massive promoter-held land parcels.
Meeting Date: September 7, 2026Consolidated Land Bank: 400+ acresTTM Revenue: ₹339 CrMarket Cap: ₹2415 CrShareholder Cut-off Date: May 26, 2026
📅 Short termThe announcement provides a clear timeline for a major corporate action, which may support the stock price as the merger process advances.
📈 Long termStructurally significant; successful consolidation of the 400-acre land bank could fundamentally re-rate the company's scale and future revenue potential in the MMR region.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Regulatory approval delays from NCLT
- Execution risk in developing a significantly larger land bank
- Potential dilution depending on final swap ratios
Key Highlights
NCLT-convened meetings for shareholders and creditors scheduled for September 7, 2026
Scheme involves consolidating a 400+ acre land bank into the listed entity
Remote e-voting for shareholders is scheduled from September 4 to September 6, 2026
Shareholder eligibility is based on a cut-off date of May 26, 2026
The merger is expected to be completed within 12-15 months as per company strategy
👀 What to Watch
Investors should monitor the voting results of the September 7 meeting and subsequent NCLT final approval. The primary focus should be on the execution timeline of the 400-acre land bank development following the merger.
NCLT-Convened Meeting on Sept 7 to Approve 400-Acre Land Bank Consolidation Scheme
Marathon Nextgen Realty has scheduled NCLT-convened meetings for shareholders and unsecured creditors on September 7, 2026, to approve a major Composite Scheme of Amalgamation. This scheme involves seven entities and is designed to consolidate promoter-held land parcels into the listed company. The primary objective is to unify a 400-acre land bank across Panvel, Bhandup, and Dombivli under a single platform. Shareholders as of the May 26, 2026, cut-off date are eligible to vote on this structural transformation.
Confidence: HIGH
What changedThe company has moved from the proposal stage to the formal stakeholder approval stage for its massive land bank consolidation scheme following an NCLT order dated July 2, 2026.
Why it mattersThis is the company's central growth strategy; consolidating 400+ acres of land into the listed entity (which currently has a TTM revenue of ₹339 Cr) could significantly scale its development pipeline and long-term NAV.
Meeting Date: September 7, 2026Land Bank to be Consolidated: 400+ acresEntities Involved in Scheme: 7Shareholder Cut-off Date: May 26, 2026Market Cap: ₹2415 Cr
📅 Short termThe stock may see volatility or interest leading up to the September 7 meeting as investors digest the merger terms and potential dilution vs. asset gain.
📈 Long termStructural significance is high; successful consolidation of 400 acres in the MMR region provides a multi-year development runway and could fundamentally re-rate the company's scale.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Related-party transaction (promoter land consolidation)
- Execution risk on 65 lakh sq. ft. ongoing portfolio
- Regulatory approval timelines
Key Highlights
NCLT-convened meeting for equity shareholders scheduled for September 7, 2026, at 11:00 AM
Consolidation involves 7 entities including Marathon Realty Private Limited and Matrix Water Management
Scheme aims to unify a massive 400-acre land bank into the listed entity
Remote e-voting period set from September 4 to September 6, 2026
Cut-off date for shareholder eligibility was May 26, 2026
👀 What to Watch
Investors should review the explanatory statement in the meeting notice for the swap ratio and valuation details. Watch for the voting results post-September 7 and subsequent final NCLT approval timelines.
₹450 Cr GDV Project: Marathon Nextgen Enters Sewri via Joint Development Agreement
Marathon Nextgen Realty's subsidiary, Sunset Spaces, has signed a Joint Development Agreement (JDA) for a cluster redevelopment project in Sewri, South Mumbai. The project, spanning approximately 7,500 square metres, will include a high-rise residential tower and high-street retail with an estimated Gross Development Value (GDV) of ₹450 crore. This GDV represents approximately 132% of the company's TTM revenue of ₹339 crore, indicating a significant addition to the project pipeline. The entry into Sewri leverages new infrastructure like the Atal Setu to target a high-growth South Mumbai micro-market.
Confidence: HIGH
What changedMarathon Nextgen has officially entered the Sewri micro-market in South Mumbai through a Joint Development Agreement for a cluster redevelopment project.
Why it mattersThe project significantly expands the company's development pipeline with a GDV that exceeds its current annual revenue, providing strong medium-term revenue visibility without heavy upfront land acquisition costs due to the JDA structure.
Estimated GDV: ₹450 croreLand Area: 7,500 sq. metresGDV vs TTM Revenue: ~132.7%TTM Revenue: ₹339 croreTotal Debt: ₹1 crore
📅 Short termThe announcement is likely to be viewed positively by the market as it demonstrates active business development and entry into a high-value location, though immediate financial impact is limited until approvals are secured.
📈 Long termThis project marks a strategic shift into cluster redevelopment and South Mumbai, which could structurally enhance the company's scale and brand positioning if executed within timelines.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Regulatory approval delays
- Execution risks inherent in cluster redevelopment
- Market sensitivity to interest rate hikes affecting residential demand
Key Highlights
Estimated Gross Development Value (GDV) of ₹450 crore for the new Sewri project.
Project land parcel measures approximately 7,500 square metres.
GDV of ₹450 crore is equivalent to ~132% of the company's TTM revenue of ₹339 crore.
Marks the company's first entry into the Sewri micro-market via cluster redevelopment.
Company maintains a strong balance sheet with only ₹1 crore in debt as of the latest filing.
👀 What to Watch
Investors should monitor the timeline for obtaining statutory approvals and the finalization of development plans, as these are critical for project commencement. Additionally, track the sales velocity and pricing trends in the Sewri micro-market to assess the feasibility of the ₹450 crore GDV target.
₹450+ Cr GDV: Marathon Nextgen Enters Society Redevelopment with Versova Project
Marathon Nextgen's subsidiary, Sunset Spaces, has signed a development agreement for a 1.5-acre redevelopment project in Versova, Mumbai. The project has an estimated Gross Development Value (GDV) of over ₹450 crore, which is highly material as it represents approximately 133% of the company's TTM revenue of ₹339 crore. This marks the company's strategic entry into the society redevelopment segment, aiming for a premium, low-density residential development. The move is part of a broader strategy to build a redevelopment platform across select Mumbai micro-markets.
Confidence: HIGH
What changedMarathon Nextgen has officially entered the Mumbai society redevelopment market, securing its first project in the Versova micro-market.
Why it mattersThis project provides access to a prime Mumbai location with an estimated revenue potential exceeding the company's entire previous year's revenue. It demonstrates a shift toward a strategy that requires less upfront investment compared to outright land purchases, potentially improving capital efficiency.
Estimated GDV: ₹450+ croreGDV vs TTM Revenue: ~133%Project Land Area: 1.5 acresTTM Revenue: ₹339 croreMarket Cap: ₹2633 crore
📅 Short termThe announcement is likely to be viewed positively by the market due to the significant GDV relative to the company's current scale and the entry into a high-demand segment.
📈 Long termIf executed successfully, this marks a structural shift in Marathon's growth strategy, allowing it to leverage its brand in the competitive Mumbai redevelopment space while maintaining its low-debt balance sheet.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Regulatory approval delays
- Execution and construction timeline risks
- Market absorption risk in the premium residential segment
Key Highlights
Estimated Gross Development Value (GDV) of over ₹450 crore for the Versova project
Project involves the redevelopment of a residential society on approximately 1.5 acres of land
GDV represents ~133% of the company's TTM revenue of ₹339 crore
First foray into the society redevelopment segment, shifting towards a more capital-light model
Company maintains a near-zero debt profile with only ₹1 crore in total debt
👀 What to Watch
Monitor the timeline for obtaining requisite regulatory approvals and the subsequent project launch date. Watch for the company's ability to scale this 'redevelopment platform' as a way to acquire prime land without heavy upfront capital expenditure.
Marathon Nextgen Reports Record ₹206 Cr PAT in FY26; Becomes Net Cash Positive Post ₹900 Cr QIP
Marathon Nextgen Realty Limited achieved its highest-ever annual profit of ₹206 crores in FY26, supported by a total income of ₹639 crores. The company transformed its balance sheet by raising ₹900 crores via QIP, utilizing ₹340 crores for debt repayment to become a cash-surplus entity. Operational momentum was strong with ₹576 crores in booking values and ₹781 crores in collections. Strategic expansions include the acquisition of a ₹840 crore GDV pipeline in Kanjurmarg and the progression of its amalgamation scheme to the NCLT stage.
Key Highlights
Reported record Profit After Tax (PAT) of ₹206 crores and EBITDA of ₹261 crores for FY26.
Raised ₹900 crores through a QIP, resulting in a net cash positive status after repaying ₹340 crores of debt.
Acquired controlling interests in Kanjurmarg entities, adding a pipeline of six projects with an expected GDV of over ₹840 crores.
Achieved annual pre-sales of ₹576 crores (MNRL share) and collections of ₹781 crores, with Marathon Futurex growing 15% YoY.
Proposed amalgamation scheme received 'no adverse observation' from BSE and NSE, now awaiting NCLT approval.
👀 What to Watch
Investors should note the company's significantly de-risked balance sheet and record profitability as a major positive. Monitor the upcoming NCLT hearing for the amalgamation and the launch of the Kanjurmarg projects as key catalysts for future growth.
Marathon Nextgen FY26: Record PAT of ₹206 Cr, Net Debt-Free Status & ₹900 Cr QIP Success
Marathon Nextgen Realty Limited reported its highest-ever annual PAT of ₹206 Cr for FY26, achieving a robust PAT margin of 32% on a total income of ₹639 Cr. The company successfully transitioned to a net debt-free balance sheet following a ₹900 Cr QIP, of which ₹340 Cr was used for debt repayment. Operational performance was strong with collections reaching ₹1,048 Cr (post-merger basis) and a 15% YoY growth in pre-sales for the Futurex project. Strategic acquisitions and a proposed amalgamation are set to unlock a massive developable potential of 4.2 Cr sq. ft. across 418 acres.
Key Highlights
Achieved record-high PAT of ₹206 Cr and EBITDA of ₹261 Cr (41% margin) for FY26.
Successfully raised ₹900 Cr via QIP, leading to a net debt-free balance sheet for the first time in company history.
Total collections stood at ₹1,048 Cr (post-merger) driven by construction progress at Monte South, Nexzone, and Bhandup.
Acquired controlling stakes in three entities adding ₹840 Cr in GDV potential and a 90% stake in Sunset Spaces for redevelopment.
Received NOC from BSE and NSE for a major amalgamation scheme involving 418 acres of land and 4.2 Cr sq. ft. developable area.
👀 What to Watch
Investors should consider the company's transition to a debt-free status and the massive expansion of its land bank as significant de-risking and growth factors. The focus should remain on the execution of the 4.2 Cr sq. ft. pipeline and the completion of the amalgamation process.
Marathon Nextgen FY26 PAT Hits All-Time High of ₹206 Cr; Company Now Net Debt-Free
Marathon Nextgen Realty reported its highest-ever annual Profit After Tax (PAT) of ₹206 crore for FY26, maintaining a robust margin of 32%. The company achieved a net debt-free status following a successful ₹900 crore QIP, with ₹340 crore specifically deployed for debt repayment. Operational momentum was strong with FY26 collections reaching ₹781 crore and the commercial segment, Marathon Futurex, growing 30% YoY. Strategic acquisitions in Kanjurmarg and a 90% stake in Sunset Spaces have added over ₹840 crore in expected GDV to the pipeline.
Key Highlights
Reported record-breaking annual PAT of ₹206 crore for FY26, a significant milestone for the company.
Transitioned to a net cash position (net debt-free) after raising ₹900 crore through a QIP.
Commercial pre-sales for Marathon Futurex grew by 30% YoY, reflecting high demand in the Lower Parel micro-market.
Acquired controlling interests in six residential projects in Kanjurmarg with an estimated GDV of ₹840 crore.
Total FY26 collections stood at ₹781 crore for the existing portfolio and ₹1,048 crore on a post-merger basis.
👀 What to Watch
Investors should take note of the significantly strengthened balance sheet and the transition to a debt-free status, which provides high financial flexibility for future growth. The strong launch pipeline and successful QIP deployment make this a positive outlook for long-term holders.
Marathon Nextgen Recommends 20% Final Dividend and Re-appoints Auditors for FY 2026-27
Marathon Nextgen Realty Limited has recommended a final dividend of Re. 1.00 per equity share (20% of face value) for the financial year ended March 31, 2026. The company also approved its audited financial results for Q4 and FY26, which received an unmodified opinion from statutory auditors. Additionally, the board has re-appointed Moore Singhi Advisors LLP as Internal Auditors and M/s. Manish Shukla & Associates as Cost Auditors for the upcoming 2026-27 fiscal year.
Key Highlights
Recommended a final dividend of 20% (Re. 1.00 per share) on a face value of Rs. 5 for FY 2025-26.
Approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2026.
Statutory auditors issued an audit report with an unmodified opinion, confirming financial transparency.
Re-appointed Moore Singhi Advisors LLP as Internal Auditor for the financial year 2026-27.
Re-appointed M/s. Manish Shukla & Associates as Cost Auditor for the financial year 2026-27.
👀 What to Watch
Investors should note the dividend recommendation and await the announcement of the record date; the unmodified audit opinion provides confidence in the reported financial health.
Marathon Nextgen Recommends Re. 1 Dividend and Re-appoints Auditors for FY 2026-27
Marathon Nextgen Realty Limited has approved its audited financial results for the fiscal year ended March 31, 2026, with an unmodified audit opinion. The Board has recommended a final dividend of 20%, which translates to Re. 1.00 per equity share on a face value of Rs. 5. Furthermore, the company has ensured continuity in its governance by re-appointing M/s. Manish Shukla & Associates as Cost Auditors and Moore Singhi Advisors LLP as Internal Auditors for the upcoming 2026-27 financial year.
Key Highlights
Recommended a final dividend of 20% (Re. 1.00 per equity share) for FY 2025-26.
Approved Audited Standalone and Consolidated Financial Results with an unmodified statutory audit report.
Re-appointed M/s. Manish Shukla & Associates as Cost Auditors for FY 2026-27.
Re-appointed Moore Singhi Advisors LLP as Internal Auditors for FY 2026-27.
The Board meeting concluded at 5.30 p.m. on May 27, 2026.
👀 What to Watch
Investors should track the upcoming 49th Annual General Meeting for the final approval of the Re. 1 dividend. The unmodified audit opinion and continuity of auditors suggest stable internal controls and financial reporting.
Marathon Nextgen Realty Recommends Final Dividend of Re. 1 Per Share for FY 2025-26
Marathon Nextgen Realty Limited has recommended a final dividend of Re. 1.00 per equity share, representing 20% of the face value of Rs. 5, for the financial year ended March 31, 2026. The company also approved its audited standalone and consolidated financial results for the fourth quarter and full fiscal year 2026. Additionally, the Board has re-appointed Moore Singhi Advisors LLP as Internal Auditors and Manish Shukla & Associates as Cost Auditors for the 2026-27 fiscal year. The dividend remains subject to shareholder approval at the upcoming 49th Annual General Meeting.
Key Highlights
Recommended a final dividend of Re. 1.00 per equity share (20% of face value of Rs. 5).
Approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026.
Statutory auditors issued an unmodified opinion on the financial results for the period.
Re-appointed Moore Singhi Advisors LLP as Internal Auditors for the financial year 2026-27.
Re-appointed Manish Shukla & Associates as Cost Auditors for the financial year 2026-27.
👀 What to Watch
Investors should track the upcoming record date for the dividend eligibility and review the detailed financial results to evaluate the company's operational performance in the real estate sector.
Marathon Nextgen Realty Approves FY26 Results, Recommends 20% Final Dividend
Marathon Nextgen Realty Limited has approved its audited financial results for the fiscal year ended March 31, 2026. The Board has recommended a final dividend of Re. 1.00 per equity share, representing a 20% payout on the face value of Rs. 5. The statutory auditors issued an unmodified opinion on the financial statements, ensuring reporting reliability. Additionally, the company confirmed the re-appointment of its Cost and Internal Auditors for the 2026-27 financial year.
Key Highlights
Recommended a final dividend of 20% (Re. 1.00 per equity share) for FY 2025-26.
Approved audited standalone and consolidated financial results for the year ended March 31, 2026.
Statutory auditors issued an audit report with an unmodified opinion.
Re-appointed M/s. Manish Shukla & Associates as Cost Auditors for FY 2026-27.
Re-appointed Moore Singhi Advisors LLP as Internal Auditors for FY 2026-27.
👀 What to Watch
Investors should review the full financial statements to assess year-on-year growth and maintain positions to benefit from the Re. 1.00 per share dividend.
