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Earnings Call

Marathon Nextgen Realty Earnings Call: Key Takeaways

Marathon Nextgen reported record FY26 PAT of ₹206cr on ₹639cr total income. Management is shifting focus to a B2B vertical via Transit Camp (PTC) models and scaling residential/commercial execution following a ₹900cr QIP.

Why this was an Alfa AlertNot a filter event. While record profits were reported, there was no comparison against prior specific guidance showing a >10% material beat.
Highlights
Revenue growthTotal Income of ₹639cr for FY26.
MarginsTargeted EBITDA margins in the range of 30% to 40%.
Order bookUnsold value ~₹6,500cr (MNRL share); ~₹2,000cr launched inventory.
Demand visibilityStrong Grade A office demand; 15% price firming in commercial.
Management confidenceHigh; company is now net cash positive post-QIP.

Growth

FY26 PAT grew to ₹206cr; EBITDA at ₹261cr. Booking value reached ₹576cr (MNRL share) and ₹832cr (post-merger basis).

Outlook

Targeting 10-12 months for ₹225cr+ new launches. Evaluating 30+ projects. Net cash positive post-QIP with ₹300cr earmarked for acquisitions.

Risks

Regulatory approvals for NCLT merger; execution timelines for new acquisitions in Kanjurmarg; demand cyclicality in luxury MMR segments.

Last quarter's promises, checked

Delivered

  • Guided 9M PAT record → delivered ₹161cr (= BEAT)
  • Guided debt reduction → repaid ₹340cr (= BEAT)
  • Guided OC for Nexzone Ph2 towers → delivered 2/4 towers (= BEAT)

Partly delivered

  • Guided merger timeline → NSE/BSE cleared, NCLT pending (= PARTIAL)
  • Guided 400-acre land potential → procedure ongoing (= PARTIAL)

Missed

  • Guided Monte South Ph2 OC → delivered partial up to 45th floor (= MISS)
Source

Earnings Call filed with BSE, NSE: MARATHON. Summary written with AI assistance from the document.

Read the document ↗

Marathon Nextgen Realty Ltd: key numbers

Share price
₹411.70
Market cap
₹2,777 Cr
Revenue (annual)
₹496.1 Cr
Net profit (annual)
₹203.0 Cr
P/E (TTM)
14.4×Sector 35.8×
Promoter holding
56.42%+0.05% QoQ
FII holding
4.68%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

More from Marathon Nextgen Realty Ltd

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Merger & Restructuring

Marathon Nextgen Realty Merger & Restructuring

Marathon Nextgen Realty held court-convened meetings of equity shareholders and unsecured creditors to approve the proposed Composite Scheme of Amalgamation and Arrangement.

23:40 IST BSE
Dividend

Marathon Nextgen Realty Dividend

Marathon Nextgen Realty fixed September 18, 2026, as the record date for its final dividend of Re. 1 per equity share for FY 2025-26.

23:32 IST BSE
Annual General Meeting

Marathon Nextgen Realty Annual General Meeting

Marathon Nextgen Realty Ltd announced its 49th AGM on September 28, 2026, and proposed a 20% final dividend of Re. 1 per share.

23:11 IST BSE
Annual Report

Marathon Nextgen Realty Annual Report

The company has filed the notice of its 49th Annual General Meeting and the Annual Report for the financial year 2025-26.

16:49 IST BSE
Financial Results

Marathon Nextgen Realty Q1 FY27 Results: Net Profit ₹52.4 Cr, Down 14.9% YoY

Marathon Nextgen Realty Ltd reported revenue from operations of ₹197.5 Cr (+40.3% YoY) and net profit of ₹52.4 Cr (-14.9% YoY) for Q1 FY27.

Key figure
Net profit ₹52.4 Cr · -14.9% YoY