Marathon Nextgen Realty Limited has confirmed that its promoters and promoter group have not created any new encumbrance on their shares during the financial year. The disclosure, submitted to stock exchanges on April 9, 2026, confirms that no direct or indirect charges were established other than those previously disclosed. This compliance filing addresses shareholder concerns regarding potential pledging of promoter holdings, which can impact stock stability.

The confirmation was provided by Chetan Ramniklal Shah on behalf of the promoter and promoters group of marathon nextgen realty . The filing was made pursuant to Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. This regulation mandates periodic disclosures to ensure transparency regarding the encumbrance status of promoter shares.

The disclosure covers the promoter group, which includes key individuals and a private entity. The list of promoters, promoter group, and persons acting in concert includes family members and Marathon Realty Private Limited.

Promoter Group Details

The letter was addressed to the Listing Departments of BSE Limited and NSE Limited. BSE Limited acknowledged the communication under Scrip Code 503101, while NSE Limited recorded it under the symbol MARATHON. The Audit Committee of Marathon Nextgen Realty Limited was also marked as a recipient of the disclosure.

Marathon Nextgen Realty Limited announced that its subsidiary, Sunset Spaces Private Limited, has executed a development agreement for a premium redevelopment project in Versova, Mumbai. The project involves the redevelopment of an existing residential society on approximately 1.5 acres of land, with an estimated Gross Development Value (GDV) exceeding ₹450 crore. This move signifies the company's strategic expansion into the society redevelopment segment, leveraging its experience in complex urban renewal projects.

The Versova project is designed as a differentiated, low-density residential development aimed at providing a higher proportion of open and landscaped spaces compared to typical high-density projects in the micro-market. Sunset Spaces will be responsible for the planning, approvals, design, construction, and execution of the project in accordance with applicable laws and mutually agreed terms with the society. The realization of the GDV is subject to the receipt of requisite approvals, final plans, and market conditions.

Parmeet Shah, Director of Sunset Spaces Private Limited, highlighted the strategic importance of this development. He stated that this project represents the first step in a calibrated strategy to build a society redevelopment platform across select Mumbai micro-markets. Shah noted that society redevelopment provides access to prime, well-located land parcels without the need for significant upfront investment, thereby expanding the reach of the Marathon brand.

Project Details

The key parameters of the Versova redevelopment project are summarised below:

Marathon Nextgen Realty Limited, through its subsidiary, aims to utilise its in-house capabilities in design, engineering, and execution to deliver this project. The company has a portfolio encompassing townships, affordable housing, luxury residential, and corporate parks, with ongoing projects in Lower Parel, Byculla, and Mulund.