Area Sales (9M FY26, post-merger)
2.46 lakh sq ft
+36.7% YoY
Area sales increased from 1.8 lakh sq ft on standalone basis to 2.46 lakh sq ft post-merger.
MARATHONNEXTGENREALTY
Infrastructure
10 Feb 2026
Marathon Nextgen Realty Ltd — Q3 FY26
Marathon Nextgen reported its highest-ever 9-month PAT of 161 cr, driven by strong commercial portfolio performance and steady residential contributions.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
Marathon Nextgen reported its highest-ever 9-month PAT of 161 cr, driven by strong commercial portfolio performance and steady residential contributions. Revenue for 9M FY26 stood at 487 cr (post-merger basis). Area sales reached 2.46 lakh sq ft, booking value 628 cr, and collections 798 cr. The company remains net debt-free with only ~25 cr in equipment loans. Management highlighted robust demand across segments, with commercial asset Future X seeing ~10% realization growth YoY. Key launches include Phase 3 of Next Zone in Panvel (GDV ~600 cr) and Bandup Neo series (GDV ~170 cr). The merger process is progressing, expected to add ~400 acres of land. Risk: Redevelopment pipeline conversion remains slow, with no definitive agreements announced despite a dedicated team.
Key Numbers
Booking Value (9M FY26, post-merger)
628 cr
+49.2% YoY
Booking value grew from 421 cr standalone to 628 cr post-merger.
Collections (9M FY26, post-merger)
798 cr
+38.1% YoY
Collections increased from 578 cr standalone to 798 cr post-merger.
Future X Realization Growth
~10%
+10% YoY
Realizations at Future X commercial project increased ~10% compared to last financial year.
Management Guidance
Phase 3 Next Zone Panvel launch with GDV ~600 cr
Launch of 4.9 lakh sq ft premium towers in Panvel with gross development value of about 600 cr.
Management guidance growthBandup Neo series launch with GDV ~170 cr
New launches in Bandup with gross development value of around 170 cr.
Management guidance growthTarget ~400 cr pre-sales from key projects in FY27
Anticipated pre-sales of around 400 cr from Future X, Monte South, and other projects in FY27.
Management guidance revenueMerger completion expected within 9 months
Amalgamation process expected to complete in next 9 months, adding ~400 acres of land.
Management guidance expansionKey Risks
Slow redevelopment pipeline conversion
Despite having a dedicated team, no definitive redevelopment agreements have been announced, raising concerns about execution pace.
medium · analyst_questionMerger timeline uncertainty
The merger process is subject to SEBI and NCLT approvals, with potential delays beyond the guided 9 months.
medium · management_commentaryConcentration risk in MMR
Company remains focused solely on MMR, exposing it to region-specific regulatory or demand shocks.
low · data_observationNotable Quotes
We have delivered a strong performance in 9 months FY26 reporting our highest ever 9 month profit after tax of 161 cr.
We are MMR focused company and we intend to largely focus in MMR we don't have immediate intention of going to other towns.
We have already a team specifically for redevelopment projects. We have team of 12 people that are working on it.
Frequently Asked Questions
What was Marathon Nextgen Realty's revenue in Q3 FY26?
Marathon Nextgen Realty reported revenue of ₹125 Cr in Q3 FY26, representing a — change compared to the same quarter last year.
What guidance did Marathon Nextgen Realty management give for FY27?
Phase 3 Next Zone Panvel launch with GDV ~600 cr: Launch of 4.9 lakh sq ft premium towers in Panvel with gross development value of about 600 cr. Bandup Neo series launch with GDV ~170 cr: New launches in Bandup with gross development value of around 170 cr. Target ~400 cr pre-sales from key projects in FY27: Anticipated pre-sales of around 400 cr from Future X, Monte South, and other projects in FY27. Merger completion expected within 9 months: Amalgamation process expected to complete in next 9 months, adding ~400 acres of land.
What are the key risks for Marathon Nextgen Realty in FY27?
Key risks include Slow redevelopment pipeline conversion — Despite having a dedicated team, no definitive redevelopment agreements have been announced, raising concerns about execution pace.; Merger timeline uncertainty — The merger process is subject to SEBI and NCLT approvals, with potential delays beyond the guided 9 months.; Concentration risk in MMR — Company remains focused solely on MMR, exposing it to region-specific regulatory or demand shocks..
Did Marathon Nextgen Realty meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Marathon Nextgen Realty Q3 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.