Marathon Nextgen Realty Ltd

Financial Performance

• Q1 FY27 total income: INR 217 crores (multi-quarter high).
• EBITDA: INR 66 crores; PAT: INR 52 crores.
• Existing portfolio: 38,000 sq ft sold; bookings INR 86 crores.
• Collections from existing portfolio: INR 118 crores.
• Merged portfolio: 46,000 sq ft sold; bookings INR 108 crores.

Portfolio Execution

• Monte South: 35,000 sq ft sold; bookings INR 125 crores; collections INR 140 crores.
• Tower A OC; Tower B RCC to 65th floor; OCC for rest.
• Panvel Nexzone: 14,000 sq ft sold; bookings INR 17 crores; collections INR 43 crores.
• Bhandup: NeoPark/NeoSquare 8,000 sq ft; bookings INR 14 crores.
• Bhandup collections: INR 9 crores.
• GMLR: 350+ slum families rehoused; tunnels started.
• Futurex: 4,000 sq ft sold; bookings INR 19 crores.

Projects and Pipeline

• Upcoming Monte South Commercial GDV: INR 3,400 crores.
• Monte South Residential Tower D GDV: INR 1,600 crores.
• Marathon Neo Series (Bhandup) GDV: INR 2,800 crores.
• Redevelopment additions: Versova INR 450 crores; Sewri INR 450 crores.

Liquidity and Balance Sheet

• QIP completed: INR 900 crores; net cash position with acquisition-capital ~INR 200 crores.
• Existing unsold GDV: INR 8,000 crores.

Guidance and Outlook

• EBITDA margin target: 30-35% for acquiring projects.
• Surplus capital ~INR 200 crores to deploy in FY27 into new projects.

Q&A Highlights

• Redevelopment additions in Versova and Sewri total INR 900 crores (450 crores each).
• FY27 outlook: management not providing numeric forecast; Monte South demand improving; Bhandup phase launched.
• Collections outlook: ready-to-move-in inventory yields 100% collections; Futurex and Monte South cycle ~3 months.
• Amalgamation timeline: dependent on NCLT scheduling; shareholder meetings in Sep.
• Redevelopment deals: selective with strict financial-metrics to ensure margins.

Correction to Q2 2026 results

• Net profit before tax (excluding exceptional items) for standalone Q2 2026: 4,268.49 lakh.
• Standalone FY2026 net profit before tax and exceptional items: 21,663.63 lakh.
• Standalone Q2 2025 net profit before tax and exceptional items: 4,097.97 lakh.
• Consolidated Q2 2026 net profit before tax and exceptional items: 6,493.66 lakh.
• Consolidated FY2026 net profit before tax and exceptional items: 24,918.23 lakh.
• Consolidated Q2 2025 net profit before tax and exceptional items: 6,843.98 lakh.
• There is no change in any other published information.
• Clarification published in Financial Express on August 12, 2026.
• Newspaper clipping of corrigendum enclosed.
• Subject: Corrigendum to the financial results for quarter ended June 30, 2026.

Meeting Details

• Date and time: August 10, 2026 at 12:30 p.m.
• Type & mode: group conference call, audio (virtual)
• Event: Analysts and Investors conference call.
• Organiser: Marathon Nextgen Realty Limited.
• Key participant: Managing Director.
• Purpose: Con-call with analysts and investors.
• Recording availability: Audio recording uploaded on company website.

Business Overview

• Diversified real estate platform focused on luxury residential, affordable housing, commercial, and townships.
• MMR-centric portfolio with Monte South, Nexzone, NeoPark/NeoSquare, NeoValley, Futurex etc.
• Post-merger consolidation expands GDV potential across pre- and post-merger assets.

Operational Highlights

• Full occupancy certificates for Cedar & Daffodil at Nexzone enabling handovers and cash collection.
• Q1 FY27 area sold 46,245 sq ft; bookings ₹108 Cr; collections ₹146 Cr.
• Commercial realisation per sq ft: ₹41,462 (merged) vs ₹29,047 (existing).
• Residential realisation per sq ft: ₹20,976 (merged) vs ₹22,487 (existing).
• Monte South Commercial launch announced; 7.5 Lakh sq ft; GDV ₹3,400 Cr.

Financial Performance

• Total Income: ₹217 Cr; EBITDA: ₹66 Cr; PAT: ₹52 Cr in Q1 FY27.
• QoQ growth: Total Income +43%, EBITDA +5%, PAT +15%.
• QIP completed June 2025: ₹900 Cr raised; ₹340 Cr earmarked for debt reduction.
• Net cash position post-QIP; strong liquidity to fund growth.
• OC ready inventory (MNRL's share): ₹247 Cr; developable area ~4.20 Cr sq ft.

Capital Structure & Liquidity

• June 2025 QIP raised ₹900 Cr; ₹340 Cr allocated to debt reduction.
• Net cash position post-QIP; robust liquidity for expansion and delivery.

Strategic Priorities & Outlook

• Expand Panvel, Dombivali, and Bhandup land bank; leverage in-house capabilities.
• Monte South Commercial and Residential launches to drive premium demand.
• Maintain disciplined capex, strong liquidity, and execution discipline.

Risks & Mitigation

• Diversified portfolio across luxury, affordable, and commercial segments mitigates market risk.
• In-house design, engineering, marketing, CRM enable faster, controlled delivery.

Governance & Leadership

• Board includes Chairman Chetan R. Shah; Vice Chairman Mayur R. Shah; directors Shailaja, Kaivalya, Parmeet, Samyag Shah.
• All projects registered under RERA; Code of Conduct and NGRBC governance policies.

Issue overview

• Type of issue: QIP; securities: equity shares.
• Total issue size disclosed; no revision or undersubscription observed.
• Main uses: investment in subsidiaries, debt repayment, land development, general corporate purposes.

Utilisation of Proceeds

• Utilisation aligned with disclosures; no material deviations.
• Subsidiaries: utilized 15,120.74 of 16,000; idle 879.26.
• Borrowings repayment: end-quarter utilization 34,035.93; unutilised balance recorded as negative 35.93.
• Land acquisition: end-quarter 5,593.22 utilized; idle 24,406.78; ongoing.
• GCP: end-quarter 8,838.15 utilized; idle 127.14; ongoing.
• Total unutilised proceeds: 25,402.29.
• Unutilised proceeds deployed into mutual funds and bonds; closing unutilised balance.

Governance and Compliance

• Statutory approvals obtained for objects.
• No material adverse events affecting viability reported.
• No deviations from stated objects observed in current monitoring.
• All disclosures consistent with offer document and management undertakings.

General Corporate Purpose (GCP)

• GCP not utilized this quarter; not applicable.
• No board approvals required or reported for GCP allocation.

Financial results and AGM

• Unaudited standalone and consolidated Q1 2026 results approved (quarter ended June 30, 2026) with Limited Review Report.
• 49th AGM to be held on Monday, September 28, 2026.

Dematerialisation processing and listing

• Securities received for dematerialisation in the quarter were processed and confirmed to depositories.
• Securities dematerialised have been listed on the stock exchanges where the earlier issued securities are listed.
• Physical certificates for dematerialisation were mutilated and cancelled, with depository name substituted as registered owner within prescribed timeline.