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Marathon Nextgen Realty Q2 FY27 Share Price & Earnings Call Analysis

₹372.60+0.93% today
Market cap
₹2,510 Cr
P/E
12.89
ROE
4.69%
PEG
-0.96
Price to sales
4.54
Debt to equity
0.04
52W high / low
₹613 / ₹347
Sales growth (5Y)
19.27%
EBITDA margin
25.05%
Net profit margin
16.64%
Promoter holding
56.40%
Sales (last year)
₹553 Cr

Marathon Nextgen Realty Ltd was incorporated in 1978. It is primarily engaged in the business of construction, development and sale of commercial and residential real estate projects. The co. is entering into new areas like SEZs, townships, infrastructure development, entertainment and leisure, education, hospitality and the capital markets. [1] [2]

Guidance scorecard · Q2 FY27 call

What Marathon Nextgen Realty Ltd's management guided
and where it ranks in Realty

#35of 41 in
Realty
Revenue10–20%MarginsFlatCapexPlannedFundraisingNone plannedOrder bookRising

RevenueQ1 FY27 call

10–20%
  • FY27 started strong with total income of INR 217 crores, a multi-quarter high.
  • Healthy sales momentum sustained at Monte South with ~35,000 sq ft sold during Q1, booking value INR 125 crores.
  • Expect better results in coming quarters due to new phase launch in Bhandup and Panvel project progress.
  • Ready-to-move-in inventory at key projects like Futurex and Monte South to boost collections and sales velocity.
  • Redevelopment segment showing promise with INR 900 crores GDV added recently; selective approach anticipated to drive quality opportunities.
  • PTC sales in Bhandup expected to generate presales in near future, indicating rising demand.

2 more points from Marathon Nextgen Realty Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what Marathon Nextgen Realty Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • The company plans to deploy approximately INR 200 crores of surplus capital towards new projects in FY27.
  • Strategic focus includes balanced projects across city, suburbs, and extended areas of MMR.
  • Recent acquisitions added redevelopment GDV of INR 900 crores in Versova and Sewri.
  • They are selectively adding new development opportunities based on location, viability, approvals, structure, and capital efficiency.
  • Emphasis on execution of ongoing projects, driving sales and collections, and timely market launches.
  • Post-merger consolidation will bring over 400 acres of land and several ongoing projects under one portfolio, enhancing future development visibility.

2 more points from Marathon Nextgen Realty Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

None planned

See what Marathon Nextgen Realty Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Rising
  • The existing portfolio of Marathon Nextgen Realty Limited has an estimated unsold GDV (Gross Development Value) of approximately INR 8,000 crores.
  • Two recently added redevelopment projects in Versova and Sewri contribute an additional INR 900 crores GDV.
  • The broader land bank coming through the proposed merger provides substantial visibility for future development, adding over 400 acres of land and several ongoing projects.
  • The company expects to deploy around INR 200 crores of capital toward new projects in FY27.

2 more points from Marathon Nextgen Realty Ltd's call on the order book

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Full Q1 FY27 analysis
Full Realty ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Realty
on management's own guidance

  1. Sobha LtdGood growth
    2
  2. Strong growth
    1
  3. Man Infraconstruction LtdGood growth
    3
See all potential multibaggersWhere does Marathon Nextgen Realty Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Realty companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹12,035 Cr41.1
2Sobha Ltd20–40%Up 2%+₹12,548 Cr54.4
3Man Infraconstruction Ltd20–40%Up 2%+₹4,602 Cr21.2
420–40%Up 2%+₹1,157 Cr12.7
520–40%Flat₹1.06L Cr25.6
620–40%Flat₹61,922 Cr23.4

Sign up free to see every company in the sector ranking and track Marathon Nextgen Realty Ltd.

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Marathon Nextgen Realty Ltd announcements

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Financials of Marathon Nextgen Realty Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Marathon Nextgen Realty Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +73.68%73.68%73.63%73.63%73.63%73.63%73.63%55.93%55.93%56.38%56.42%56.40%
FIIs +1.56%0.56%0.41%3.15%2.34%2.28%0.94%6.89%5.13%5.09%4.68%2.59%
DIIs +0.07%0.01%0.80%1.61%2.47%2.43%2.31%15.59%14.40%14.74%14.71%14.47%
Public +24.68%25.75%25.18%21.62%21.57%21.67%23.12%21.60%24.55%23.81%24.20%26.54%
No. of Shareholders10,33010,9109,78710,63510,76210,70611,06915,44715,44214,39914,23014,750

Financials of Marathon Nextgen Realty Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +129210155162146123149141117125114198129
Expenses +8113410810910487107110751008915184
Operating Profit48764753423641314225254745
OPM %37%36%30%33%29%30%28%22%36%20%22%24%35%
Other Income +10101111202639503814381916
Interest23291419139181220011
Depreciation1111111000000
Profit before tax35574444495362687838636560
Tax %22%27%28%26%19%21%22%23%18%27%29%24%30%
Net Profit +34514038494954626733465245
EPS in Rs7.299.807.787.229.469.3510.4111.699.804.806.637.456.51

Financials of Marathon Nextgen Realty Ltd

Profit & Loss

Annual income statement trend

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +1971936982241206306717705580496565
Expenses +1371362630177142232471472407375423
Operating Profit60574352646474246233173121142
OPM %31%29%62%63%27%31%24%34%33%30%24%25%
Other Income +4550118183836419614087
Interest005214144751239159132
Depreciation001265333322
Profit before tax1051063930263235156180208247225
Tax %21%21%27%20%21%28%33%28%26%22%24%
Net Profit +83843932251639124169191206176
EPS in Rs14.6514.798.426.845.233.308.3726.1232.5336.4330.1025.39
Dividend Payout %3%3%12%7%0%0%6%4%3%3%3%

Financials of Marathon Nextgen Realty Ltd

Balance Sheet

Capital structure and asset base

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital282823232323232326263434
Reserves5676485275845705866267629801,1612,2412,329
Borrowings +0112084295677391,08786976156099136
Other Liabilities +88128461456351402499482359385311
Total Liabilities6046968851,4971,6171,6992,1392,1532,2482,1072,7592,810
Fixed Assets +00105221294287286283286237173173
CWIP000000000000
Investments00142226132714981110399360
Other Assets +6036957671,2551,2971,3991,5821,8211,8811,7602,1872,278
Total Assets6046968851,4971,6171,6992,1392,1532,2482,1072,7592,810

Financials of Marathon Nextgen Realty Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-52-5616910118-1097631522-25-54
Cash from Investing Activity +6445-198-312-71-3-37527112298-292
Cash from Financing Activity +-1484020360144274-326-155-265411
Net Cash Flow-2-311-8732-2615-21865
Free Cash Flow-52-561689218-10875314217599
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit-31%-54%419%207%11%-169%122%140%29%12%13%

Financials of Marathon Nextgen Realty Ltd

Ratios

Working capital efficiency and return ratios

Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days12849702433894522496642
Inventory Days3836512,21514,6835,749
Days Payable453,4921,510460
Cash Conversion Cycle5075560248,75613,26245225,3386642
Working Capital Days3855585571,086173860441213246310658
ROCE %17%6%6%6%6%7%17%16%12%8%

Guidance history

How Marathon Nextgen Realty Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlannedNone plannedRising
Q4 FY26 call →10–20%FlatPlannedPlannedRising
Q3 FY26 call →10–20%FlatPlannedPlannedRising
Q2 FY26 call →20–40%FlatPlannedPlannedRising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

12out of 100

Momentum score · price trend

12 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−39.2%12%
Last 6 months−20.8%17%
Last 3 months−2.5%59%

The price is 50.5% below its all-time high of ₹753.05 (18 Jul 2025). Stocks more than 20% below their peak have their score halved, so 24 became 12.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Marathon Nextgen Realty Ltd: 0.4 × 12 + 0.4 × 17 + 0.2 × 59 = 24, halved to 12 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

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