MARATHON

Marathon Nextgen Realty share price & financials

Price
₹398.25
Market cap
₹2.5k Cr
Sector
Realty
Calls analysed
6
Latest concall · Q1 FY27 · call held 14 Aug 2026

Marathon Nextgen Realty Limited Q1 FY27

EBITDA ₹66 cr Profit After Tax ₹52 cr Total Income ₹217 cr

What went well

  • Total income of INR 217 crores, marking a multi-quarter high.
  • Healthy profitability with EBITDA at INR 66 crores and PAT at INR 52 crores.
  • Strong sales momentum across diversified portfolio, including Monte South (INR 125 crores booking value) and Nexzone (INR 17 crores booking value).

What to watch

  • Reduction in other income due to a specific investment property floor not being sold this quarter.
  • Potential for NCLT process delays for amalgamation due to heavy workload on benches.
Read the full call →

What Marathon Nextgen Realty Limited does

Marathon Nextgen Realty develops residential, commercial and township real estate across the Mumbai Metropolitan Region, with active projects in Panvel, Byculla, Lower Parel, Bhandup and Mulund. It earns primarily by building and selling residential and commercial space under its Monte South, Futurex, Nexzone, NeoHomes/NeoValley and Millennium project brands, spanning luxury and affordable housing as well as office space. The company has also launched a Permanent Transit Camp (PTC) vertical, constructing and monetising transit accommodation units on behalf of other developers as a B2B revenue stream. Since its start as a mill-land redeveloper, it has delivered 100+ projects and housed over 10,000 families.

Segments

  • Residential
  • Commercial
  • Townships
  • Transit accommodation (PTC)
Projects delivered
100+
Families housed (cumulative)
10,000+
Homes in pipeline
15,000+
Total land bank (post-merger portfolio)
418 acres
Developable area on land bank
~4.20 crore sq. ft.
Active project locations
Panvel, Byculla, Lower Parel, Bhandup, Mulund
Founded 1978 Company website

Guidance record · Q1 FY27

what the last two calls moved 13 tracked 4 delivered 1 missed 8 open
  • GDV from New Launches delivered said Q1 FY26 Promised: INR 4,500 crores of GDV across 15 lakh sq ft in next 2-3 quarters Q1 FY27: Promise was achieved in Q2 FY26. No new updates.
  • Unsold Ready OC Inventory Sales went quiet said Q1 FY26 Promised: Sell INR 450 crores (Marathon share) of ready inventory within 1 year Q1 FY27: The 1-year deadline has passed. Management spoke about ready-to-move-in inventory sales in general terms but did not provide a specific figure to verify achievement of the INR 450 crore target.
  • Merger Regulatory Approval on track said Q4 FY25 Promised: 12 to 15 months for regulatory and statutory approvals Q1 FY27: Public shareholder meetings planned for September 2026, after which the second NCLT hearing will take place. Management notes potential delays due to NCLT's heavy workload.

All 13 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 62.5%, net profit down 11.9% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue53 39 74 24 63 +19%22 −44%68 −8%39 +63%
EBITDA24 19 19 3 27 +13%10 −47%28 +47%16 +433%
Net profit36 35 41 42 61 +69%28 −20%59 +44%37 −12%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −30.1% 1Y

₹400₹500₹600Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 13 Nov 2025Q3 FY26 — 17 Feb 2026Q4 FY26 — 1 Jun 2026Q1 FY27 — 14 Aug 2026

1Y: ₹622.55 on 10 Sept 2025 → ₹435.45. High ₹673.2 (23 Sept 2025), low ₹346.85 (18 Aug 2026).

How the price took the results

close before → close after

Q1 FY27
−1.1%
14 Aug
Q4 FY26
−2.6%
1 Jun
Q3 FY26
+1.1%
17 Feb
Q2 FY26
−3.1%
13 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue fell 35.2% a year over 3 years, FY23 to FY26. Operating margin widened to 38.4%.

Year endingFY23FY24FY25FY26
Revenue₹652 Cr₹345 Cr₹242 Cr₹177 Cr
Operating profit₹233 Cr₹175 Cr₹94 Cr₹68 Cr
Operating margin35.7%50.7%38.8%38.4%
Interest₹116 Cr₹71 Cr₹40 Cr₹12 Cr
Depreciation₹4 Cr₹4 Cr₹3 Cr₹0 Cr
Net profit₹123 Cr₹136 Cr₹136 Cr₹190 Cr
Net margin18.9%39.4%56.2%107.3%
Cash from operations₹241 Cr₹167 Cr₹14 Cr₹9 Cr
Free cash flow₹240 Cr₹166 Cr₹14 Cr₹8 Cr
ROCE17.0%18.0%15.0%14.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹23 Cr₹23 Cr₹23 Cr₹26 Cr₹34 Cr₹34 Cr
Reserves₹637 Cr₹660 Cr₹780 Cr₹931 Cr₹2.2k Cr₹2.1k Cr
Borrowings₹410 Cr₹716 Cr₹552 Cr₹363 Cr₹59 Cr₹1 Cr
Other liabilities₹51 Cr₹77 Cr₹73 Cr₹101 Cr₹339 Cr₹43 Cr
Total liabilities₹1.1k Cr₹1.5k Cr₹1.4k Cr₹1.4k Cr₹2.6k Cr₹2.2k Cr
Fixed assets₹155 Cr₹153 Cr₹150 Cr₹149 Cr₹184 Cr₹29 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Investments₹222 Cr₹452 Cr₹234 Cr₹309 Cr₹605 Cr₹759 Cr
Other assets₹744 Cr₹872 Cr₹1.0k Cr₹963 Cr₹1.8k Cr₹1.4k Cr
Total assets₹1.1k Cr₹1.5k Cr₹1.4k Cr₹1.4k Cr₹2.6k Cr₹2.2k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, promoters trimmed −17.21 pp while DIIs added +12.40 pp. The shareholder count grew 29% to 14,230.

Promoters
56.4%
FIIs
4.7%
DIIs
14.7%
Public
24.2%

Since Jun 2025

  • Promoters −17.21 pp
  • DIIs +12.40 pp
  • FIIs +3.74 pp

How it drifted, 12 quarters

Over this window promoters fell from 73.5% to 56.4% — −17.0 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 73.5%, FIIs 2.3%, DIIs 0.0%, Public 24.2%.Dec '23: Promoters 73.7%, FIIs 1.6%, DIIs 0.1%, Public 24.7%.Mar '24: Promoters 73.7%, FIIs 0.6%, DIIs 0.0%, Public 25.8%.Jun '24: Promoters 73.6%, FIIs 0.4%, DIIs 0.8%, Public 25.2%.Sep '24: Promoters 73.6%, FIIs 3.1%, DIIs 1.6%, Public 21.6%.Dec '24: Promoters 73.6%, FIIs 2.3%, DIIs 2.5%, Public 21.6%.Mar '25: Promoters 73.6%, FIIs 2.3%, DIIs 2.4%, Public 21.7%.Jun '25: Promoters 73.6%, FIIs 0.9%, DIIs 2.3%, Public 23.1%.Sep '25: Promoters 55.9%, FIIs 6.9%, DIIs 15.6%, Public 21.6%.Dec '25: Promoters 55.9%, FIIs 5.1%, DIIs 14.4%, Public 24.6%.Mar '26: Promoters 56.4%, FIIs 5.1%, DIIs 14.7%, Public 23.8%.Jun '26: Promoters 56.4%, FIIs 4.7%, DIIs 14.7%, Public 24.2%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Marathon Nextgen Realty Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Marathon Realty Pvt Ltd 51.15%unchanged
Quant Mutual Fund - Quant Small Cap Fund Mutual fund9.94%unchanged
Peanence Commercial Pvt Limited 3.58%+0.61 pp
Maybank Securities Pte Ltd FPI fund2.18%−0.26 pp
Buoyant Capital AIF - Buoyant Opportunit AIF2.00%unchanged
Rahul Dilipbhai Jhaveri 1.48%unchanged
Zeta Global Funds (Oeic) Pcc Limited-Zet FPI fund1.35%unchanged
Sonal Mayur Shah 0.77%unchanged
Shailaja Chetan Shah 0.74%unchanged
Mayur Ramniklal Shah 0.74%unchanged
Chetan Ramniklal Shah 0.74%unchanged
Ansuya Ramniklal Shah 0.50%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (6)

Read the Q1 FY27 call →

Learn to analyse Marathon Nextgen Realty Limited

Guides on how to read this kind of business and the numbers that matter.