Marathon Nextgen Realty Limited reported consolidated revenue from operations of ₹217 crore for the quarter ended June 30, 2026 (Q1FY27), driven by strong execution across its residential and commercial portfolio. The company posted a Profit After Tax (PAT) of ₹52 crore and maintained an EBITDA of ₹66 crore. The Board of Directors approved the unaudited financial results on August 7, 2026, following a limited review by statutory auditors Rajendra & Co., Chartered Accountants.

The financial performance reflects disciplined capital allocation and operational progress. Consolidated revenue rose to ₹19,750.23 lakhs from ₹14,081.47 lakhs in the corresponding quarter of the previous year. While net profit attributable to owners stood at ₹5,023.09 lakhs, down from ₹5,988.28 lakhs in Q1FY26, the company emphasized its net debt-free balance sheet and positive net cash position as key strengths.

Operational Highlights

Operational metrics for the quarter underscored robust demand and steady project delivery. The company achieved full Occupancy Certificates for the Cedar and Daffodil towers at Nexzone, facilitating customer handovers. Construction activity continued as planned across key developments in Monte South, Bhandup, and Nexzone.

Note: Data based on Carpet Area; booking values reflect a 40% revenue share for the Monte South project.

Strategic Developments

Marathon Nextgen Realty expanded its long-term development pipeline by adding two redevelopment projects in Versova and Sewri, totaling a Gross Development Value (GDV) of ₹900 crore. These additions align with the company’s strategy to target selective opportunities in well-connected Mumbai micro-markets.

Regarding the Qualified Institutional Placement (QIP), the company utilized ₹64,597.64 lakhs of the total proceeds of ₹89,999.93 lakhs for intended objects up to June 30, 2026. The remaining balance of ₹24,903.57 lakhs is temporarily invested in Mutual Funds, Debentures, and Bonds, with ₹498.72 lakhs held in bank accounts.

Management Commentary

Chetan Shah, Chairman & Managing Director, stated that the quarter reflected resilience in the business model with healthy collections and steady operational progress. He highlighted the company’s focus on timely execution, expansion of the redevelopment platform, and building the Project Development Company (PTC) sales portfolio as an additional growth vertical. The Mumbai real estate market continues to demonstrate strength, supported by sustained end-user demand and improving infrastructure.

Marathon Nextgen Realty will convene separate meetings for its equity shareholders and unsecured creditors on September 7, 2026, to seek approval for a composite scheme of amalgamation and arrangement. The meetings are being held pursuant to an order dated July 2, 2026, passed by the National Company Law Tribunal (NCLT), Mumbai Bench, in Company Application No. (C.A. (CAA) No. 110 OF 2026). The proposed scheme aims to restructure several group entities by merging transferor companies into Marathon Nextgen Realty Limited while demerging specific assets into Marathon Energy Private Limited.

The scheme involves complex corporate restructuring across seven entities. Matrix Water Management Private Limited and Sanvo Resorts Private Limited act as Transferor Companies 1 and 2, respectively, merging into Marathon Nextgen Realty Limited, which serves as Resulting Company 1 and the Transferee Company. Simultaneously, Marathon Realty Private Limited, Matrix Enclaves Projects Developments Private Limited, and Matrix Land Hub Private Limited serve as Demerged Companies 1, 2, and 3, with their respective business units or assets moving to Marathon Energy Private Limited, designated as Resulting Company 2. The approval is sought under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013.

Both meetings will be conducted through Video Conferencing (VC) or Other Audio Visual Means (OAVM) as directed by the NCLT. Equity shareholders recorded in the register of members as of the cut-off date, Tuesday, May 26, 2026, are eligible to participate. Unsecured creditors recorded as of Tuesday, March 31, 2026, hold voting rights for their respective meeting. Remote e-voting for both groups opens on Friday, September 4, 2026, at 9:00 A.M. IST and closes on Sunday, September 6, 2026, at 5:00 P.M. IST.

The company issued the notice for these meetings on August 5, 2026, sending it electronically to registered email addresses of shareholders and creditors. The notices include annexures, the copy of the Scheme, and an explanatory statement under Sections 230 and 232 read with Section 102 of the Companies Act, 2013, and Rule 6 of the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. These documents are also available on the company’s website and the National Securities Depository Limited (NSDL) e-voting portal.

What This Means for Stakeholders

The approval of this composite scheme represents a significant structural shift for Marathon Nextgen Realty Limited and its group companies. For equity shareholders, the vote determines the consolidation of assets from Matrix Water Management Private Limited and Sanvo Resorts Private Limited into the listed entity. For unsecured creditors, the restructuring impacts the legal entity responsible for their claims, potentially altering recovery prospects depending on the financial health of the resulting companies. The distinct cut-off dates reflect the different classes of stakeholders involved in the amalgamation versus the demerger components of the scheme.