News Earnings Marathon Nextgen Realty Reports Record Nine-Month PAT of INR 161 Crores in Q3 FY26 Earnings CallMarathon Nextgen Realty Reports Record Nine-Month PAT of INR 161 Crores in Q3 FY26 Earnings Call
Marathon Nextgen Realty achieved record nine-month PAT of INR 161 crores in FY26, driven by strong commercial portfolio performance and steady residential contributions. The company reported area sales of 1.8 lakh square feet, booking value of INR 421 crores, and collections of INR 578 crores, with total revenue reaching INR 487 crores. Post-merger metrics showed enhanced performance with area sales of 2.46 lakh square feet and booking value of INR 628 crores, supported by a net debt-free balance sheet and strategic MMR market presence.
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Marathon Nextgen Realty Limited conducted its Q3 and nine months FY26 earnings conference call on February 17, 2026, reporting exceptional financial performance with record-breaking profit figures. The company achieved its highest ever nine-month profit after tax of INR 161 crores, demonstrating strong execution across its diversified portfolio.
Financial Performance Highlights
The company delivered robust financial metrics during the nine-month period, with comprehensive performance across multiple business segments.
| Metric | Nine Months FY26 | Post-Merger Basis |
|---|---|---|
| Area Sales | 1.8 lakh sq ft | 2.46 lakh sq ft |
| Booking Value | INR 421 crores | INR 628 crores |
| Collections | INR 578 crores | INR 798 crores |
| Total Revenue | INR 487 crores | - |
| Net Profit (PAT) | INR 161 crores | - |
The revenue mix for the nine-month period comprised approximately 60% residential and 40% commercial segments, reflecting the company's balanced portfolio approach. Management emphasized that the strong performance was driven by robust commercial portfolio contributions alongside steady residential business traction.
Project Development Updates
Commercial Assets Performance
Futurex Complex in Lower Parel continues to demonstrate strong market appeal with nearly 224,000 square feet of post-merger ready inventory. The Grade A commercial asset has attracted high-quality buyers and lessees, supporting healthy realizations with approximately 10% increase in sales value and realizations compared to the previous financial year.
Marathon Millennium, the company's commercial project in Mulund, has witnessed encouraging traction from small and medium enterprises, contributing to the overall commercial segment performance.
Residential Project Progress
Monte South at Byculla continues its decisive progress with significant construction milestones achieved across all towers.
| Tower | Current Status | Key Milestones |
|---|---|---|
| Tower A | Operational | Swimming pool on 65th floor delivered |
| Tower B | Partial OC | OC approval up to 45th floor, blockwork to 62nd floor |
| Tower C | Under Construction | RCC slab work completed through 17th floor |
The project maintains consistent sales velocity of approximately INR 100 crores per quarter, demonstrating sustained market demand for premium residential offerings.
Bhandup Development Portfolio
The Neo series projects in Bhandup are progressing strongly with impressive sales achievements:
- NeoValley Kaveri: Over 90% sold, 22nd floor RCC nearing completion
- NeoValley Narmada: Over 45% sold, reached plinth stage construction
- NeoPark Ashoka: Over 70% sold, finishing works for 22 stories at advanced stage with OC expected in coming months
Panvel Township Development
Marathon Nexzone in Panvel continues to benefit from enhanced infrastructure connectivity, including the operational Navi Mumbai International Airport and Mumbai Trans Harbour Link (Atal Setu).
| Phase | Status | Details |
|---|---|---|
| Phase 1 | Completed | 12 towers, 30 storeys each, full OC received, 2,700 families residing |
| Phase 2 | Near Completion | 4 towers, 30 storeys each, OC applications underway |
| Phase 3 | Announced | 4.9 lakh sq ft across four 28-storey towers, GDV INR 600 crores |
Strategic Initiatives and Market Position
The company maintains its focus on the Mumbai Metropolitan Region, leveraging infrastructure developments and redevelopment opportunities. Management highlighted ongoing evaluation of over 45-50 redevelopment projects with a dedicated team of 12 professionals working specifically on redevelopment initiatives.
Merger and Amalgamation Progress
The ongoing merger process is expected to bring approximately 400 acres of land across three major parcels in Panvel, Dombivli, and Bhandup. The process has received clearance from NSE and BSE exchanges, with SEBI approval currently in final stages following three rounds of question-answers.
Financial Position and Debt Management
The company has achieved a net debt-free position with current debt reduced to approximately INR 20 crores, primarily comprising equipment and vehicle loans. From the QIP proceeds of INR 900 crores, approximately INR 340 crores was utilized for debt repayment, with remaining funds allocated toward existing project investments and new acquisition opportunities.
Market Outlook and Future Prospects
Management expressed confidence in the Mumbai real estate market, citing continued infrastructure-led growth and sustained economic momentum. The company expects to benefit from the consolidation trend in the industry and maintains its strategic focus on high-demand micro-markets within the MMR region.
For FY27, major revenue contributors are expected to include Futurex commercial ready-to-move-in inventory, Monte South residential sales, and newly announced launches in Panvel and Bhandup. The company anticipates approximately INR 400 crores in presales from Monte South alone, with additional contributions from the 4.9 lakh square feet Panvel Phase 3 launch valued at INR 600 crores.
Historical Stock Returns for Marathon NextGen Realty
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -5.92% | -12.52% | -16.78% | -34.96% | -11.07% | +456.65% |
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