Marathon Nextgen Realty Limited reports ₹145 crore Q2 FY27 income

Marathon Nextgen Realty Limited reported total income of ₹145 crore in Q2 FY27, EBITDA of ₹61 crore and profit after tax of ₹45 crore, while proposing a ₹335 crore purchase of Adani Realty’s 60% stake in the Monte South project. The proposed transaction would take Marathon Nextgen’s ownership of Monte South to 100%.

What did Marathon Nextgen report for Q2 and H1 FY27?

Marathon Nextgen reported Q2 FY27 total income of ₹145 crore, EBITDA of ₹61 crore and profit after tax of ₹45 crore for the quarter ended September 30, 2026. EBITDA represented a 42% margin based on the reported quarterly income and EBITDA figures. The company disclosed the results during its Q2 and H1 FY27 earnings update.

For H1 FY27, total income was ₹362 crore, EBITDA was ₹127 crore and profit after tax was ₹98 crore. The half-year figures show that the company generated a substantial part of its reported income and profitability in the first six months of FY27, although the supplied information does not provide comparable prior-year half-year financial figures.

How did Marathon Nextgen’s operating performance develop?

Marathon Nextgen recorded pre-sales of ₹154 crore in Q2 FY27 and ₹240 crore in H1 FY27. Quarterly pre-sales were stated to be 79% higher than in the preceding quarter. Collections stood at ₹127 crore in Q2 and ₹244 crore in the first half, providing a measure of cash receipts from customer sales during the reporting periods.

Area sold was 71,000 sq ft in Q2 FY27 and 109,000 sq ft in H1 FY27. The company also disclosed separate merged operating metrics, under which Q2 area sold was 0.94 lakh sq ft, pre-sales were ₹251 crore and collections were ₹202 crore. For H1 FY27, the merged figures were 1.40 lakh sq ft of area sold, ₹359 crore of pre-sales and ₹348 crore of collections.

The distinction between existing and merged metrics is relevant when reviewing operational scale. The reported Q2 and H1 financial results are presented separately from these merged operational figures, so investors should avoid treating the two sets of metrics as directly interchangeable.

What is the proposed Monte South acquisition?

Marathon Nextgen has proposed acquiring Adani Realty’s 60% stake in Monte South for ₹335 crore. The transaction, if completed, would raise Marathon Nextgen’s ownership in the project to 100%, according to the company’s investor presentation and earnings commentary.

Chairman and Managing Director Chetan Shah described the proposed acquisition as a significant step in the company’s growth plans. The supplied disclosures identify the consideration and ownership outcome, but do not provide a completion date, funding structure, approval status or any revised financial guidance related to the proposal.

Why do the results and acquisition matter to investors?

The reported numbers combine operating sales, collections and accounting profitability. Pre-sales of ₹154 crore exceeded Q2 collections of ₹127 crore, while H1 pre-sales of ₹240 crore were close to H1 collections of ₹244 crore. These measures are important for a real estate developer because booked sales and customer collections reflect different stages of project cash conversion.

The Monte South proposal is material in the context of the company’s disclosed quarterly income of ₹145 crore because its ₹335 crore consideration is more than twice that quarterly figure. However, the available information does not state the method of financing, expected project cash flows, transaction costs or the timing of any financial consolidation. Those details will be necessary to assess the eventual balance-sheet and earnings implications.

Marathon Nextgen also disclosed two new redevelopment projects with combined estimated gross development value, or GDV, of ₹900 crore. GDV is an estimate of potential project value and is not reported revenue or profit. The disclosure therefore indicates a development pipeline opportunity, rather than a confirmed financial contribution in FY27.

How could the update affect Marathon Nextgen’s business operations?

The results show that Marathon Nextgen generated ₹98 crore of profit after tax in H1 FY27 alongside ₹244 crore of collections. Its 42% Q2 EBITDA margin, based on reported results, indicates the profitability level achieved during the quarter. The source material does not provide a share-price reaction or market valuation data, so no direct stock-market movement can be inferred from the update.

Full ownership of Monte South, if the acquisition closes, would simplify ownership of that project for Marathon Nextgen. At the same time, the company will need to disclose the transaction’s financing and completion terms for investors to judge its impact on cash resources, debt and future project execution. The planned redevelopment projects add to the operational agenda, with an estimated combined GDV of ₹900 crore.

Conclusion

Marathon Nextgen reported Q2 FY27 income of ₹145 crore, EBITDA of ₹61 crore and profit after tax of ₹45 crore, supported by ₹154 crore of pre-sales and ₹127 crore of collections. Its H1 FY27 results reached ₹362 crore of income and ₹98 crore of profit after tax, while the proposed Monte South purchase places a major project ownership decision alongside the operating update.

The next disclosures to watch are the completion status and financing of the ₹335 crore Monte South transaction, along with execution milestones for the two redevelopment projects carrying an estimated combined GDV of ₹900 crore. Further updates on sales, collections and project-level progress will clarify how these initiatives affect Marathon Nextgen’s reported performance.