Marathon NextGen Realty Launches ₹600 Crore 'Nirvana Collection' in Panvel

Marathon NextGen Realty Limited has announced the launch of Phase III of its flagship township, Marathon Nexzone, in Panvel. Dubbed 'The Nirvana Collection', this new phase represents a significant expansion of the company's presence in the rapidly developing Panvel region.

Project Details

The Nirvana Collection spans approximately 3 acres and boasts an estimated RERA Carpet Area of around 4.90 lakh sq.ft. The development comprises:

Four premium towers, each 28 storeys high
A mix of 2BHK, 3BHK, and select 4BHK homes
Two retail floors
Four parking levels
A 70,000 sq.ft. amenity zone

The project's estimated Gross Development Value exceeds ₹600 crore, highlighting its scale and potential impact on the local real estate market.

Sustainability Focus

The Nirvana Collection is proposed to be a Silver Rated Pre-Certified Green Building by the Indian Green Building Council. This certification underscores Marathon NextGen Realty's commitment to sustainable development practices.

Panvel's Growing Appeal

The launch of The Nirvana Collection comes at a time when Panvel is experiencing significant growth. The area's appeal has been boosted by recent infrastructure developments, including:

The Atal Setu (Mumbai Trans Harbour Link)
The newly inaugurated Navi Mumbai International Airport
Enhanced metro connectivity
The Panvel-Karjat suburban railway corridor

These improvements have positioned Panvel as an attractive location for homebuyers seeking a balance of connectivity, affordability, and quality of life.

Marathon Nexzone's Track Record

The Nirvana Collection builds on the success of the existing Marathon Nexzone development:

Over 3,500 homes sold to date
More than 2,500 homes delivered with Occupation Certificate
Approximately 1,000 homes under development across 16 towers

Management Commentary

Samyag Shah, Director of Marathon NextGen Realty Limited, commented on the launch: "Marathon Nexzone began as a vision to create a landmark township in Panvel, and today that vision continues to grow stronger with The Nirvana Collection. This new phase redefines modern living by creating a self-sufficient residential ecosystem and planning of thoughtfully designed homes & curated experiences with a strong focus on sustainability."

Financial Performance

In its recent financial results, Marathon NextGen Realty reported:

Metric	Value	YoY Growth
Total Revenues	₹155.00 crore	-
EBITDA	₹80.00 crore	29%
PAT	₹67.00 crore	35%
PAT Margin	43.00%	-

The company's strong financial performance, coupled with its debt-free status, positions it well for future growth and expansion in the Mumbai Metropolitan Region's real estate market.

As Panvel continues to evolve into a key residential and commercial hub, Marathon NextGen Realty's latest offering appears well-timed to capitalize on the area's growth potential. The Nirvana Collection represents not just an expansion of the company's portfolio, but also a testament to its confidence in Panvel's future as a prime real estate destination.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.83%	-5.08%	+1.22%	+7.20%	-2.04%	+657.54%

Marathon NextGen Realty Limited has reported complete utilization of funds raised through its Qualified Institutional Placement (QIP) for the quarter ended September 30. The company's monitoring agency, India Ratings Research Private Limited, confirmed no deviation from the stated objectives of fund utilization.

Fund Utilization Breakdown

The company has provided a detailed breakdown of how the QIP funds, totaling ₹89,999.93 crore, were utilized across various objectives:

Objective	Amount (₹ in crore)
Investment in Subsidiaries	6,624.09
Repayment of Company Borrowings	21,113.87
Repayment of Subsidiary Borrowings	12,922.07
Land Acquisition	300.00
General Corporate Purposes	4,292.15
Total Utilized	45,252.18
Unutilized Amount	44,747.75

Deployment of Unutilized Funds

The company has strategically deployed the unutilized amount of ₹44,747.75 crore in various mutual funds and bank accounts. This deployment has generated returns totaling ₹311.83 crore. The breakdown of investments is as follows:

Investment Instrument	Amount Invested (₹ in crore)	Market Value (₹ in crore)
Axis Liquid Fund - Direct Growth	9,263.73	9,381.63
HDFC Liquid Fund - Direct Plan - Growth Option	10,215.75	10,319.61
Mirae Assets Liquid Fund - Direct Growth	2,500.00	2,531.60
Northern Arc Money Market Alpha Trust	5,013.92	5,040.87
ICICI Prudential Floating Interest Fund - Direct Plan - Growth	3,000.00	3,012.77
HDFC Short Term Debt Fund - Direct Plan - Growth Option	2,000.00	2,010.25
Other Mutual Funds	11,522.03	11,566.21
HDFC Bank Monitoring Account	326.02	326.02
Total	43,841.45	44,188.96

Project Implementation Status

The company reports that all projects are progressing as per schedule:

Investment in Subsidiaries: Ongoing, expected completion by March 31, 2027
Repayment of Borrowings: Completed
Land Acquisition: Ongoing, expected completion by March 31, 2027
General Corporate Purposes: Ongoing, expected completion by March 31, 2027

Marathon NextGen Realty has confirmed that all necessary statutory approvals for the current stage of the projects have been obtained. The company's judicious use of QIP funds and strategic deployment of unutilized amounts demonstrate a balanced approach to financial management and project execution.

Financial Performance

In a separate announcement, Marathon NextGen Realty Limited disclosed that its Board of Directors has approved the Unaudited Financial Results (Standalone and Consolidated) for the second quarter and half year ended September 30. The detailed financial results are expected to provide further insights into the company's performance and the impact of the QIP fund utilization.

Investors and stakeholders may anticipate a comprehensive overview of the company's financial health and project progress in the upcoming detailed financial report.