Land and Acquisitions
Marathon Nextgen to Buy Outgoing Partner's 60% Stake in Swayam Realtors for Up to Rs 335 Crore
Marathon Nextgen Realty's board approved on 31 October 2026 the purchase of an additional 60% stake in Swayam Realtors and Traders LLP for up to Rs 335 crore. The company says the deal gives it 100% economic interest in the Monte South project at Byculla, Mumbai.
| Board approval | 31 October 2026 |
|---|---|
| Stake being acquired | Additional 60% in Swayam Realtors and Traders LLP (SRTL) |
| Total consideration | Up to Rs 335 crore, made up of up to Rs 135 crore in cash and a Rs 200 crore bank guarantee |
| Economic interest before deal | 40% in SRTL |
| Economic interest after completion | 100% in Monte South |
| Project location | Monte South, Byculla, Mumbai (Khatau Mills land) |
| Expected completion | Within two months of receiving the necessary approvals |
| Company pre-sales (Q2 FY27) | Residential pre-sales rose about 70% quarter on quarter, per the company's 22 October 2026 release |
What happened
Marathon Nextgen Realty Ltd's board approved, on 31 October 2026, the purchase of the outgoing partner's additional 60% stake in Swayam Realtors and Traders LLP (SRTL), a joint venture that holds the Monte South project in Byculla, Mumbai. The board meeting reportedly ran from 1:45 p.m. to 2:30 p.m. that day.
The company described the transaction as an acquisition of full economic interest in Monte South. Before the deal, Marathon Nextgen held a 40% economic interest in SRTL.
The disclosure refers to the seller only as the outgoing partner. Adani Realty is the named joint-venture partner on Monte South Commercial, a separate office and retail component announced in October 2025, but no 2026 disclosure links Adani Realty to this SRTL stake.
How the payment is structured
The up-to Rs 335 crore total is split into up to Rs 135 crore in cash and a Rs 200 crore bank guarantee. Some coverage of the approval quotes Rs 135 crore as the deal value; that figure is the cash portion, and the Rs 335 crore figure is the total across all reports.
Because SRTL is a limited liability partnership, the 60% is an economic stake rather than a transfer of listed shares.
Reports on the approval say the disclosure does not set out a payment timetable, a valuation method, conditions for the bank guarantee, or the bank issuing it.
The project and the company
Monte South sits on one of the larger mill plots in South Mumbai, the former Khatau Mills land in Byculla. The campus is planned as four residential towers rising over 64 storeys, with a total residential sale carpet area of over 1.6 million sq ft, alongside the separate commercial component.
In its quarterly release dated 22 October 2026, the company said construction at Monte South, along with its other projects, is progressing as planned. Monte South pre-sales grew 16% in the quarter. The company also reported that residential pre-sales rose about 70% quarter on quarter, and that its affordable and mid-income portfolio rose 155%. Chetan Shah, Chairman and Managing Director, said the company is adding projects selectively in well-connected locations and has no net debt.
Marathon NextGen Realty is listed on the NSE (MARATHON) and the BSE (503101). It is part of the Marathon Group, a Mumbai developer founded in 1969. The company says it has completed more than 100 projects across Mumbai.
Location and transport
Byculla Railway Station on the Central Line is a major transit point in the area. Mahalaxmi Metro Station on Line 3 is about 1 km away. The Eastern Freeway and Dr Babasaheb Ambedkar Road give road access, and Nariman Point and Lower Parel can be reached in about 20 minutes, according to local area listings.
Metro Line 11 is planned to serve Byculla. Reports from 2024 and 2025 list Byculla as an approved station on the underground Central section. One estimate puts the project at roughly five years to complete once work starts, which would point to operation around 2030. That timeline comes from earlier reports and has not been set out in an official schedule.
What it changes
For home buyers, the reports on this deal describe a change in who owns the project economics, not a change in sales terms. None of the reviewed material states a direct effect on existing or new Monte South buyers.
For investors, one analyst note on the approval says the company would capture 100% of future revenue and profit from Monte South rather than sharing 60% with joint-venture partners. That is the view of the analyst, not a company statement. A financial news report also describes the move as shifting the company away from a shared-risk model toward direct control of a core Mumbai asset, and notes that the bank guarantees would be a contingent liability on the consolidated balance sheet.
No source assessed the effect of the deal on Byculla prices or supply.
What comes next
- A shareholder vote on related-party financing arrangements that support the SRTL LLP, including direct investments, loan provisions, and guarantees or security for loans taken by the LLP. No vote date has been reported.
- Completion of the stake purchase within about two months of receiving the necessary approvals. No approval date has been reported.
- The status of the Rs 200 crore bank guarantee, which is to be watched for whether it is called or released.
The Versova and Sewri redevelopment projects that the company added in mid-2026 are separate from this deal. Together they carry an estimated combined gross development value of about Rs 900 crore, per the company's 22 October 2026 release.
Frequently asked questions
How much is Marathon Nextgen paying for the 60% stake?
The total is up to Rs 335 crore. It is made up of up to Rs 135 crore in cash and a Rs 200 crore bank guarantee.
What does the company own after the deal?
The company says it would hold 100% economic interest in the Monte South project. Before the deal, it held 40% economic interest in Swayam Realtors and Traders LLP.
Does this deal change terms for Monte South buyers?
The reports on the deal describe a change in project ownership economics, not in sales terms. None of the reviewed material states a direct effect on buyers.
When will the deal be completed?
The company expects completion within about two months of receiving the necessary approvals. No approval date has been reported yet.
Where is Monte South located?
Monte South is on the former Khatau Mills land in Byculla, South Mumbai. Mahalaxmi Metro Station on Line 3 is about 1 km away.