Marathon Nextgen Realty announced the resignation of Mr. Deepak Ramkrishna, Assistant General Manager - Marketing, effective from the close of business hours on June 12, 2026. The resignation was submitted to pursue new challenges and opportunities outside the Marathon Group.

The disclosure was made to the stock exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr. Deepak Ramkrishna was designated as a Senior Management Personnel of the company via a letter dated June 9, 2026.

The company confirmed that there are no other material reasons for the resignation other than the stated intent to pursue new opportunities. The intimation was signed by Chetan R. Shah, Managing Director of Marathon Nextgen Realty Limited.

Resignation Details

The specific details regarding the cessation of the role are outlined below:

Marathon Nextgen Realty reported a record consolidated net profit of ₹206 crore for the financial year ended March 31, 2026, marking its highest-ever profit with a margin of 32%. The company achieved a robust EBITDA margin of 41% and maintained a net debt-free status with a positive net cash position for the first time in its history. The board of directors approved the audited financial results for the fourth quarter and full year at a meeting held on May 27, 2026, and recommended a final dividend of ₹1 per equity share, subject to shareholder approval. The company also successfully raised ₹900 crore via a Qualified Institutional Placement (QIP), deploying ₹340 crore towards debt repayment.

Financial Performance

The company's consolidated total income for FY26 stood at ₹639 crore, with an EBITDA of ₹261 crore. For the quarter ended March 31, 2026, consolidated net profit was ₹46 crore, while total income was ₹152 crore. The statutory auditors issued an unmodified opinion on the audited financial results.

Operational Highlights

Pre-sales for the year remained healthy, primarily driven by the commercial portfolio Marathon Futurex, which delivered 15% year-on-year growth to ₹466 crore. Collections for FY26 stood at ₹781 crore for the existing portfolio and ₹1,048 crore post-merger, driven by construction progress across projects including Monte South, Nexzone, and Bhandup. The company launched Nexzone Phase 3 with a GDV of ₹600 crore and a new project in Bhandup under the Neohome portfolio with a GDV of ₹370 crore.

Strategic Developments

The board approved the re-appointment of M/s. Manish Shukla & Associates as Cost Auditor and M/s. Moore Singhi Advisors LLP as Internal Auditor for FY27. The board acknowledged receipt of "No objection certificates" from stock exchanges regarding a composite scheme of amalgamation involving Marathon Realty Private Limited and Matrix Water Management Private Limited, submitted to the National Company Law Tribunal (NCLT) with an appointed date of January 1, 2025. Additionally, the company acquired controlling interests in three real estate entities via Nexzone IT Infra Pvt Ltd for an aggregate investment of ~₹70 crore, adding six residential projects in Kanjurmarg with an expected GDV of over ₹840 crore. It also acquired a 90% stake in Sunset Spaces Private Limited to strengthen its redevelopment pipeline.