Current/ Expected Orderbook/ Pending Orders?

Marathon Nextgen Realty Limited plans to launch projects with a Gross Development Value (GDV) of approximately INR 1,200 crores in the next two quarters. Square footage planned for launch in the next 2 quarters is between 5 to 6 lakh square feet. Sales target for H1 FY '25 was around INR 286 crores, and the company expects a similar sales performance in H2 FY '25. Pending unsold commercial inventory stands at around 21,000 sq. ft. in Millennium and 83,000 sq. ft. in Futurex. The company has received continuous inquiries with some seasonal variation, including a pick-up during the festive seaso

Any current/future new fundraising through debt or equity?

Marathon Nextgen Realty Limited has raised its fundraising limit to INR1,000 crores, with an enabling resolution of INR500 crores already approved and the circular resolution expected to complete by mid-December 2024. The company plans to use these funds strategically for new project acquisitions, further debt reduction, and working capital requirements. They are actively considering new projects, especially scouting for 2 to 3 projects in South Mumbai, alongside launching existing land inventory. Part of the fundraise proceeds will be used to reduce debt, with a target to lower the debt-to-eq

Any current/future capex/capital investment/strategic investment?

Marathon Nextgen Realty Limited plans new project acquisitions with funds raised. Fund allocation includes strategic new project acquisitions, further debt reduction, and working capital requirements. A strong pipeline of projects is in place focusing on quality and future expansion. Approximately INR1,200 to INR1,400 crores worth of new project launches are planned in the next two quarters. Fundraising limit increased to INR1,000 crores to support acquisition of 2 to 3 projects in South Mumbai and launch existing land inventory. Exploration business development committee actively looking to b

Future growth expectations in sales/revenue/volumes?

Marathon Nextgen Realty anticipates continued growth in sales and revenue, driven by strong demand across key projects like Monte South, Millennium, Futurex, NeoPark, Nexzone, and NeoValley. Sales in newly launched projects NeoValley Kaveri and Narmada have been strong, with 50-70% area sold, and construction progress supporting revenue recognition. The company aims to launch projects worth approximately INR1,200 to INR1,400 crores in the next two quarters, targeting sales growth aligned with these launches. Profitability is expected to be maintained or improve due to price firming in Mumbai r

Future growth expectations in earnings/operating earnings/profits/EPS?

Marathon Nextgen Realty Limited expects profitability to be maintained and likely grow due to firming up prices in Mumbai real estate and controlled construction costs, mainly impacted by inflation on materials like cement and steel. The company anticipates continued year-on-year (Y-o-Y) growth in both top line (revenue) and bottom line (profit) in the second half of FY '25, supported by new project launches. Strong sales momentum across key projects such as Monte South, Millennium, and Futurex is driving robust demand and increased realizations. Efforts to reduce finance costs and net d

Marathon Nextgen Realty LtdQ2 FY25Realty

Marathon Nextgen Realty Ltd Q2 FY25 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹382.4P/E: 13.2Market Cap: ₹2.6K CrSector: Realty

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Yes

Order

Yes

Capex

Yes

3 of 5 growth signals are positive.

Full analysis

Revenue guidance

Category 3

Marathon Nextgen Realty anticipates continued growth in sales and revenue, driven by strong demand across key projects like Monte South, Millennium, Futurex, NeoPark, Nexzone, and NeoValley.
Sales in newly launched projects NeoValley Kaveri and Narmada have been strong, with 50-70% area sold, and construction progress supporting revenue recognition.
The company aims to launch projects worth approximately INR1,200 to INR1,400 crores in the next two quarters, targeting sales growth aligned with these launches.
Profitability is expected to be maintained or improve due to price firming in Mumbai real estate and controlled construction costs.
Management expects sales growth similar to H1 FY'25 (INR286 crores) in H2 FY'25, with sustained focus on execution and customer satisfaction.
Market recognition and valuation are expected to improve gradually as business progresses.
Fundraising up to INR1,000 crores will support new acquisitions and debt reduction, fueling growth further.

Margin guidance

Category 3

Marathon Nextgen Realty Limited expects profitability to be maintained and likely grow due to firming up prices in Mumbai real estate and controlled construction costs, mainly impacted by inflation on materials like cement and steel.
The company anticipates continued year-on-year (Y-o-Y) growth in both top line (revenue) and bottom line (profit) in the second half of FY '25, supported by new project launches.
Strong sales momentum across key projects such as Monte South, Millennium, and Futurex is driving robust demand and increased realizations.
Efforts to reduce finance costs and net debt-to-equity ratio will reinforce financial strength, supporting expansion.
Market recognition in share price is expected eventually as business performance and profitability progress steadily.
Overall, the outlook is optimistic with expectations of growing earnings and sustained profitability over upcoming quarters.

See what Marathon Nextgen Realty Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

Marathon Nextgen Realty Limited has raised its fundraising limit to INR1,000 crores, with an enabling resolution of INR500 crores already approved and the circular resolution expected to complete by mid-December 2024.
The company plans to use these funds strategically for new project acquisitions, further debt reduction, and working capital requirements.
They are actively considering new projects, especially scouting for 2 to 3 projects in South Mumbai, alongside launching existing land inventory.
Part of the fundraise proceeds will be used to reduce debt, with a target to lower the debt-to-equity ratio from the current 0.62 to 0.5.
The company is exploring merging the unlisted promoter entity with the listed entity, which may be facilitated by a larger fundraise; timelines for this are targeted within 2 to 3 quarters.
Debt reduction has already been significant, with reduced finance costs and net debt as of September 2024.

Order book

Yes

Marathon Nextgen Realty Limited plans to launch projects with a Gross Development Value (GDV) of approximately INR 1,200 crores in the next two quarters.
Square footage planned for launch in the next 2 quarters is between 5 to 6 lakh square feet.
Sales target for H1 FY '25 was around INR 286 crores, and the company expects a similar sales performance in H2 FY '25.
Pending unsold commercial inventory stands at around 21,000 sq. ft. in Millennium and 83,000 sq. ft. in Futurex.
The company has received continuous inquiries with some seasonal variation, including a pick-up during the festive season.
Fundraising limit has been increased to INR 1,000 crores to support new project acquisitions and growth.

See what Marathon Nextgen Realty Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

Marathon Nextgen Realty Limited plans new project acquisitions with funds raised.
Fund allocation includes strategic new project acquisitions, further debt reduction, and working capital requirements.
A strong pipeline of projects is in place focusing on quality and future expansion.
Approximately INR1,200 to INR1,400 crores worth of new project launches are planned in the next two quarters.
Fundraising limit increased to INR1,000 crores to support acquisition of 2 to 3 projects in South Mumbai and launch existing land inventory.
Exploration business development committee actively looking to bring the land bank efficiently into the listed entity, with concrete updates expected in 1 to 3 quarters.
Debt reduction remains a priority, with some portion of funds earmarked for debt repayment to target a debt-equity ratio of 0.5.

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Marathon Nextgen Realty Ltd Q2 FY25 Earnings Call Analysis

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