Company Filings
Marathon Nextgen to Hold Investor Update Call on 4 November 2026 Amid Monte South Buyout
Marathon Nextgen Realty Ltd has scheduled an investor update call for 4 November 2026, days after its board approved buying Adani Group's 60% interest in the Monte South joint venture in Byculla, Mumbai, for up to ₹335 crore. The call is scheduled and had not been held as of 2 November 2026.
| Investor update call | Wednesday, 4 November 2026, 1:15 pm IST (scheduled; not yet held as of 2 November 2026) |
|---|---|
| Call leaders | Chetan Shah (Chairman and Managing Director) and Mayur Shah (Vice Chairman) |
| Board approval of Monte South buyout | Meeting held 31 October 2026 |
| Consideration | Up to ₹335 crore: ₹135 crore in cash and ₹200 crore through a bank guarantee |
| Stake change | Marathon's holding in Swayam Realtors and Traders LLP would rise from 40% to 100% on completion |
| Indicative completion timing | Two months from the date of requisite approvals; no regulatory approvals are required for this stake purchase |
| Q2 FY27 pre-sales (announced 22 October 2026) | ₹154 crore; collections ₹127 crore |
| Q2 FY27 profit after tax | ₹45 crore on total income of ₹145 crore; the company is net debt-free with a positive net cash position |
What the company has announced
Marathon Nextgen Realty Ltd (NSE: MARATHON, BSE: 503101), a Mumbai-based developer, filed an intimation with BSE and NSE under Regulation 30 of the SEBI (LODR) Regulations, 2015. The notice is dated 31 October 2026. It schedules an investor update call on Wednesday, 4 November 2026, at 1:15 pm IST.
According to the company, the session is meant to give stakeholders insight into its operations and strategic direction. Investors and analysts can join using the primary dial-in numbers or international toll-free lines, and pre-registration is available for direct dial-in access.
The scheduling notice lists four participants: Chetan Shah (Chairman and Managing Director), Mayur Shah (Vice Chairman), Kaivalya C. Shah (Director) and Samyag M. Shah (Director).
The notice does not list agenda items, guidance figures or new deal terms.
The Monte South buyout
The same week, the board approved the acquisition of Adani Group's 60% interest in Swayam Realtors and Traders LLP (SRTL), the joint venture behind Monte South in Byculla, Mumbai. Marathon's prior economic interest in SRTL was 40%. On completion, its holding would rise to 100%.
The consideration is up to ₹335 crore, structured as a cash payment of up to ₹135 crore and a bank guarantee of ₹200 crore. The company said Adani Group decided to exit Monte South as it focuses resources on several substantially larger opportunities in the Mumbai Metropolitan Region (MMR). The filing does not name those developments.
The company says the deal moves Monte South from a shared arrangement to direct control, which it expects will simplify project execution and let it keep the full future returns from the project. Adani Group is not a related party of the listed company.
The indicative time for completion is two months from the date of requisite approvals. The board also approved related-party transactions linked to SRTL, covering investments in, loans to or guarantees for SRTL. These are subject to shareholder approval and are intended to keep financial support in place for the joint venture after the change in ownership.
Joint venture revenue trend
Reported turnover for SRTL has declined over three fiscal years: from ₹680.07 crore in FY24 to ₹433.08 crore in FY25, and ₹374.46 crore in FY26.
One market commentary describes the buyout as a strategic bet on the long-term value of Monte South rather than an immediate gain from the joint venture's current operating run-rate. Another commentary flags the up-to-₹135 crore cash outlay as a short-term liquidity risk if it is not matched by project inflows. Both are analyst opinion, not company or regulator statements.
Q2 FY27 results in context
The buyout follows the company's Q2 FY27 results, announced on 22 October 2026. For the quarter, the company reported:
- Pre-sales (booking value, registered): ₹154 crore
- Collections: ₹127 crore
- Total income: ₹145 crore
- EBITDA: ₹61 crore
- Profit after tax: ₹45 crore
For the first half of FY27, total income was ₹362 crore, EBITDA ₹127 crore and profit after tax ₹98 crore. The company reports that it remains net debt-free with a positive net cash position.
Residential pre-sales rose 70% quarter on quarter, with the affordable and mid-income portfolio accounting for most of the increase. Monte South, the company's premium project in Byculla, grew 16%. In the same release the company added two redevelopment projects in Versova and Sewri, with a combined estimated gross development value of ₹900 crore. The chairman said, "Demand came from every price segment this quarter, from affordable homes to Monte South."
About Monte South
Monte South is a residential and mixed-use project in Byculla, near the Khatau Mills Compound. The company calls it its premium development in Byculla. Its co-developer on Tower C is Adani Realty, and the company says it is partially under construction. Reports differ on its scale: one describes an approximately 25 lakh sq ft mixed-use development, while another describes a luxury residential development of about 7,30,000 sq ft. Reports also give different possession dates for different towers, so no single date is used here.
The Q2 release says construction across Monte South, Nexzone, NeoHomes and the Marathon Millennium commercial asset in Mulund is progressing as planned.
Background on the company
Marathon Nextgen Realty traces its roots to 1969, when Ramniklal Zaverbhai Shah founded the group. The company says it has completed more than 100 projects across townships, affordable housing, luxury homes, retail, small business spaces and corporate parks. It currently has five major projects under construction across Byculla, Panvel, Bhandup and Mulund, and it holds land banks in Bhandup, Thane, Dombivli and Panvel.
Analysts have previously noted that the company has no immediate expansion plans beyond the MMR, which could limit growth. The company says it will keep looking for opportunities to strengthen its development portfolio, but it has not given a numerical acquisition target or deadline.
What it means for buyers and investors
Buyers: The filings say nothing about effects on buyers of Monte South flats. Buyers should check tower-level status and possession timelines directly with the developer and the project's registration with the Maharashtra real estate regulator, MahaRERA, before making a decision.
Investors: The company has not disclosed expected sales value, construction cost, inventory, completion dates or projected revenue for Monte South. The investor call on 4 November 2026 is the next scheduled point at which management may address these items.
What comes next
- 4 November 2026, 1:15 pm IST: investor update call with the four named management participants.
- Shareholder vote: required on the related-party transactions linked to SRTL. No vote date has been announced.
- Completion of the Monte South stake purchase: indicatively two months after requisite approvals.
- Next results: the company has not announced a date for its Q3 FY27 results.
Frequently asked questions
When is Marathon Nextgen's investor update call?
The call is scheduled for Wednesday, 4 November 2026, at 1:15 pm IST. It is led by Chairman Chetan Shah and Vice Chairman Mayur Shah, and investors can join using the dial-in numbers or toll-free lines in the scheduling notice.
How much is Marathon paying for Adani's stake in Monte South?
The board approved a consideration of up to ₹335 crore for Adani Group's 60% interest in Swayam Realtors and Traders LLP. It is made up of up to ₹135 crore in cash and ₹200 crore in bank guarantees.
What happens to Marathon's ownership of Monte South?
Marathon's holding in the joint venture would rise from 40% to 100% once the transaction is completed. The company says this gives it direct control over the project.
Why is Adani Group exiting Monte South?
According to Marathon, Adani Group is shifting its resources to several substantially larger opportunities in the Mumbai Metropolitan Region. The filing does not name those projects.
Does the buyout need government approval?
The company says no governmental or regulatory approvals are required for this stake purchase. Shareholder approval is needed for the related-party transactions linked to the joint venture.