Marathon NextGen Realty , a prominent Mumbai-based real estate developer, has reported a robust financial performance for the quarter. The company's results showcase significant growth and strategic financial moves that position it for future expansion.

Strong Financial Performance

Marathon NextGen Realty posted a remarkable 63% year-on-year increase in Profit After Tax (PAT), reaching ₹62.00 crore for the quarter. The company's revenue stood at ₹191.00 crore, while EBITDA rose by 27% year-on-year to ₹81.00 crore. Profit Before Tax (PBT) also saw substantial growth, increasing by 55% to ₹68.00 crore.

Chetan Shah, Chairman and Managing Director of Marathon NextGen Realty, attributed this performance to the company's "sharp operational focus and disciplined cost management across its portfolio."

Successful Qualified Institutional Placement

A significant highlight was the successful completion of a ₹900.00 crore Qualified Institutional Placement (QIP). This capital raise attracted strong participation from both domestic and international institutional investors, reflecting growing confidence in the company's vision and strategy.

Strategic Allocation of Funds

Marathon NextGen Realty has already begun utilizing the funds raised through the QIP:

• ₹340.00 crore has been used for debt repayment, bringing the company to a net cash positive position for the first time.
• ₹160.00 crore is being allocated towards accelerating construction across ongoing projects.
• ₹300.00 crore has been earmarked for new asset-light development opportunities.

Operational Highlights

The company reported solid operational metrics:

Future Outlook

With active projects across Lower Parel, Byculla, Mulund, and strategic land banks in Bhandup, Dombivli, and Panvel, Marathon NextGen Realty is well-positioned for future growth. The company's focus on timely delivery and expertise in Mumbai real estate continues to be key drivers of its success.

Chetan Shah expressed enthusiasm about the company's performance and future prospects, stating, "We're extremely proud of our performance this quarter—not just the strong financials, but the strategic strides we've made. With a robust land bank, a reputation for timely delivery, and deep-rooted expertise in Mumbai real estate, we're well-placed for the next phase of growth."

As Marathon NextGen Realty moves forward with a strengthened balance sheet and strategic growth plans, it aims to continue delivering long-term value to both homebuyers and investors in the dynamic Mumbai real estate market.

Marathon NextGen Realty Limited has reported robust financial results for the first quarter, along with several key corporate developments.

Financial Highlights

Standalone Performance

Consolidated Performance

Key Developments

1. Annual General Meeting: The Board has scheduled the 48th Annual General Meeting for September 24.

2. Qualified Institutional Placement (QIP): The company successfully completed a QIP, raising ₹89,999.99 lakhs through the allotment of 1,62,12,406 equity shares at ₹555.13 per share.

3. Composite Scheme Amendment: Following the QIP, Marathon NextGen Realty amended its Composite Scheme of Amalgamation and Arrangement. The amendment revised share exchange ratios while maintaining the overall total number of shares to be issued under the scheme.

4. Shareholding Pattern Change: Post-QIP, the company's shareholding structure has significantly changed:

   • Promoter shareholding decreased from 73.63% to 55.92%
   • Public shareholding increased from 26.37% to 44.08%

Analysis

Marathon NextGen Realty's Q1 results demonstrate strong profitability, particularly on a consolidated basis. The successful completion of the QIP indicates robust investor confidence in the company's prospects. The amendment to the Composite Scheme of Amalgamation and Arrangement, necessitated by the QIP, reflects the company's adaptability to changing circumstances.

The significant shift in shareholding pattern, with increased public participation, may lead to greater market liquidity for the company's shares. As Marathon NextGen Realty moves forward, stakeholders will be keen to observe how the company utilizes the funds raised through the QIP and navigates the evolving real estate market landscape.

The upcoming Annual General Meeting on September 24 will provide an opportunity for shareholders to engage with the management and gain further insights into the company's strategic direction and future plans.