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.

Marathon Nextgen Realty Limited will host a group meeting for institutional investors and analysts on June 30, 2026. The meeting is scheduled to take place physically in Mumbai between 11:00 AM and 12:00 Noon. This interaction provides a platform for the company's representatives to engage directly with market participants regarding its business operations and financial performance.

The disclosure was submitted to BSE Limited and NSE Limited in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Yogesh Patole, Company Secretary and Compliance Officer of Marathon Nextgen Realty Limited.

Meeting Details

The company outlined the specific logistics for the upcoming investor interaction in its regulatory filing.

Marathon Nextgen Realty noted that the schedule is subject to change due to exigencies on the part of the participants or the company. Shareholders and interested parties are advised to stay updated on any potential modifications to the event plan.