Prime Minister Narendra Modi is slated to inaugurate Phase 1 of the Navi Mumbai International Airport (NMIA) on October 8, marking a significant milestone in India's infrastructure development. The project, built under a Public-Private Partnership model, comes with a hefty price tag of Rs 19,650.00 crore and promises substantial economic benefits for the region.

Job Creation and Economic Impact

According to Marathon NextGen Realty Managing Director Mayur Shah, the airport is expected to generate nearly one lakh jobs, providing a significant boost to employment in the area. This massive infrastructure project is poised to drive real estate development and commercial growth in the Panvel-Raigad region over the next decade.

Airport Specifications

The NMIA boasts impressive specifications:

Sustainable Infrastructure

The airport incorporates several sustainable features, including:

• 47 MW solar power generation capacity
• Electric Vehicle (EV) bus services
• Water taxi connectivity, a first for an Indian airport

Strategic Importance

NMIA is designed to operate in tandem with Mumbai's existing airport, aiming to alleviate congestion and enhance the region's air transport capabilities. This dual-airport system is expected to significantly improve air connectivity for one of India's busiest metropolitan areas.

The inauguration of NMIA represents a major step forward in India's infrastructure development, promising to bring substantial economic benefits and improved transportation options to the Mumbai metropolitan region. As the project unfolds, it will be interesting to observe its impact on regional development and India's broader economic landscape.

Marathon NextGen Realty , a prominent player in Mumbai's real estate market, has reported strong financial results for the first quarter, demonstrating significant growth across key metrics.

Financial Highlights

The company's total income grew by 10% year-on-year to ₹191.00 crores, while EBITDA expanded by 27% to ₹81.00 crores. Notably, profit after tax (PAT) surged by 63% to ₹62.00 crores, significantly outpacing industry growth and reflecting the company's focus on high-margin projects.

Operational Performance

Marathon NextGen Realty's operational metrics also showed robust growth:

• Area sold increased by 7% year-over-year
• Pre-sales value jumped 16% to ₹183.00 crores
• Collections surged 28% to ₹239.00 crores

These figures underscore the continued market demand for Marathon's projects and highlight the company's consistent execution capabilities.

Strategic Developments

A key highlight of the quarter was the successful completion of a Qualified Institutional Placement (QIP), raising ₹900.00 crores. The funds have been strategically deployed, with ₹340.00 crores used for debt repayment in July, resulting in a zero debt-to-equity ratio and expected quarterly interest savings of ₹10.00 crores.

Project Updates

The company received occupation certificates for three towers at its Nexzone Panvel project, accelerating revenue recognition. Marathon NextGen Realty maintains leading positions across key micro-markets:

• Monte South in Byculla ranks among the top 3 projects in both supply and sales volume
• Marathon Nexzone holds a top 3 position in Panvel
• NeoHomes in Bhandup is among the top 3 by market supply

Future Outlook

Marathon NextGen Realty has a strong pipeline of upcoming launches, totaling approximately 15 lakh sq ft with a Gross Development Value (GDV) of ₹4,500.00 crores over the next 2-3 quarters. Key projects include:

• Monte South commercial project: ~8 lakh sq ft with a GDV of ~₹3,500.00 crores
• Nexzone Phase 3 in Panvel: ~4 lakh sq ft with a GDV of ~₹500.00 crores
• Two projects in Bhandup: ~3 lakh sq ft with a combined GDV of ~₹500.00 crores

The company has earmarked ₹300.00 crores for land development and project acquisitions, focusing on redevelopment in South Mumbai.

Management Commentary

Chetan Shah, Chairman and Managing Director of Marathon NextGen Realty, expressed confidence in the company's growth trajectory, stating, "Q1 has established a solid foundation, with accelerated execution, stronger financials, and enhanced market positioning. We are confident that this will be a year of strong performance and sustainable growth for Marathon NextGen."

The company's management attributes the positive momentum to favorable industry dynamics in the Mumbai Metropolitan region, including demographic trends, ongoing urbanization, and improved infrastructure connectivity.

With its strengthened balance sheet, diverse portfolio across market segments, and robust land pipeline, Marathon NextGen Realty appears well-positioned to capitalize on the positive industry outlook and continue its growth trajectory in the coming quarters.