Marathon Nextgen Realty Shines in Q2 FY26 with Record Profits and Strategic Expansion

Marathon Nextgen Realty Limited, a prominent player in Mumbai's dynamic real estate sector, has reported an exceptional performance for the second quarter and first half of the financial year 2026. The company announced its unaudited financial results, highlighting robust growth driven by strategic execution and disciplined financial management. This period marks a significant milestone, with the company achieving its highest-ever quarterly and half-yearly profits, reinforcing its strong market position and future growth trajectory.

For Q2 FY26, Marathon Nextgen Realty recorded an impressive Profit After Tax (PAT) of ₹67 crore, marking a substantial 35% year-on-year (YoY) increase. The momentum continued into the first half of FY26, with PAT soaring to ₹128 crore, a remarkable 47% YoY growth. This strong bottom-line performance was achieved despite a slight dip in total revenues, which stood at ₹155 crore for Q2 FY26, a 6% YoY decrease. Adjusted Total Revenues also saw a 7% YoY decline to ₹206 crore. However, the company's EBITDA for Q2 FY26 grew by 29% YoY to ₹80 crore, demonstrating operational efficiency and healthy margins. Booking value for the quarter was ₹166 crore, up 29% YoY, driven by strong responses to both residential and commercial offerings. Collections remained stable at ₹191 crore, reflecting disciplined execution and sustained customer confidence.

Strategic Initiatives and Project Milestones Fueling Growth

Marathon Nextgen Realty's robust performance is underpinned by a series of strategic initiatives and significant project milestones. The company successfully completed a Qualified Institutional Placement (QIP) in June 2025, raising ₹900 crore. A substantial portion of these funds, ₹340 crore, was allocated to debt reduction, enabling the company to achieve a net debt-free position and strengthen its balance sheet. The remaining capital is strategically deployed to accelerate project development across key sites and build a robust growth pipeline, enhancing financial flexibility and optimizing borrowing efficiency.

Operational highlights for the quarter include receiving the Occupation Certificate (OC) for NeoSquare and a partial OC for Monte South Tower B, underscoring the company's commitment to timely project delivery. Furthermore, the company announced several new project launches that are set to significantly expand its portfolio:

• Monte South Commercial Project: A landmark office and retail development in Byculla, a joint venture with Adani Realty, will offer approximately 7.5 lakh square feet of premium commercial space with an estimated Gross Development Value (GDV) of ₹3,400 crore. This project is strategically positioned within the larger Monte South campus, creating a complete live-work ecosystem in South Mumbai.
• Phase III of Nexzone (Nirvana Collection): Located in Panvel, this phase introduces four premium towers across approximately 3 acres, offering 4.9 lakh square feet of RERA carpet area and an estimated GDV of over ₹600 crore. The project is poised to benefit from major infrastructure developments like Atal Setu, Navi Mumbai International Airport, and enhanced metro connectivity.
• Marathon Neo Series (Neohomes portfolio): In Bhandup, the company launched 2.2 lakh square feet of residential space with a GDV of ₹370 crore. This initiative strengthens Marathon Nextgen Realty's presence in Bhandup, a rising mid-income hub with excellent connectivity.

Diversified Portfolio and Market Outlook

Marathon Nextgen Realty's diversified portfolio, encompassing luxury residential, affordable housing, commercial spaces, and large-scale townships, is a key strength. This multi-segment presence allows the company to mitigate risks associated with market fluctuations and capitalize on opportunities across different segments. The company's extensive land bank of over 400 acres in high-potential micro markets like Panvel, Dombivli, and Bhandup provides a strong foundation for future growth.

Management's vision is clear: to rapidly monetize these land parcels through a combination of self-development, strategic partnerships (Joint Ventures and Joint Development Agreements), and leveraging government policies to maximize margins. The company is actively evaluating new project opportunities, supported by its QIP funds, to participate in redevelopment and asset-light opportunities across Mumbai, enabling faster scaling and portfolio expansion.

The real estate market in the Mumbai Metropolitan Region (MMR) remains resilient, buoyed by solid end-user demand and significant infrastructure development initiatives by the state government. Projects like Atal Setu, Navi Mumbai International Airport, Metro connectivity, and the Panvel-Karjat Rail Corridor are enhancing regional access and driving economic activity, particularly in the outskirts. This infrastructure push is creating new suburbs and boosting real estate values, with demand for ready-to-move-in units and premium commercial spaces remaining strong.

Conclusion: A Foundation for Sustained Growth

Marathon Nextgen Realty Limited's Q2 FY26 performance underscores its strategic clarity and operational excellence. With record profits, a net debt-free balance sheet, and a robust pipeline of ongoing and upcoming projects, the company is well-positioned to leverage the evolving market dynamics in the MMR. The disciplined approach to capital allocation, coupled with strong in-house capabilities and a diversified portfolio, provides a resilient platform for sustained long-term value creation for all stakeholders. The company's proactive engagement with government initiatives and strategic land monetization plans further solidify its growth prospects in the vibrant Indian real estate market.