Marathon Nextgen Realty Ltd (BOM:503101) Q3 2026 Earnings Call Highlights: Record Profits and …

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Wed, February 18, 2026 at 10:05 AM GMT+9 3 min read

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MARATHON.BO

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This article first appeared on GuruFocus.

Release Date: February 17, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

Marathon Nextgen Realty Ltd (BOM:503101) reported its highest ever 9-month profit after tax of 161 crore, driven by strong commercial portfolio performance.

The company achieved significant sales and collections, with area sales at 2.46 lakh square feet and collections at 798 crore post-merger.

The company is net debt-free, highlighting a strong financial position.

The recent union budget and infrastructure developments in Mumbai are expected to benefit the real estate sector, particularly in peripheral geographies where the company has a significant presence.

Marathon Nextgen Realty Ltd (BOM:503101) has a diversified portfolio with high-performing commercial assets and a resilient residential pipeline, positioning it well for consistent growth.

Negative Points

The merger process is ongoing, which may introduce uncertainties and delays in realizing full benefits.

There is a lack of immediate expansion plans beyond the Mumbai MMR region, potentially limiting growth opportunities.

The company faces challenges in the redevelopment sector, with no concrete announcements despite significant market potential.

The QIP funds have been largely used for debt repayment, which may limit immediate investment in new projects.

The company has not yet finalized any joint ventures or large-scale new project launches, which could impact future growth momentum.

Q & A Highlights

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Q: Do you plan to expand beyond Mumbai MMR, or will you remain focused on your core markets? A: We are focused on the MMR region and intend to continue concentrating our efforts there. We see significant opportunities in redevelopment and peripheral areas for township and plotted developments. Chairman and Managing Director

Q: How do you view the booking momentum in Q4, and which projects will be the largest contributors to bookings and collections in FY27? A: Booking momentum is steady, with consistent sales in projects like Monte South. Our commercial assets, particularly ready-to-move-in ones, will contribute significantly to revenue. We also expect strong pre-sales from new launches in Marathon Nexzone and Bandu Neo series. Vice Chairman

Q: Can you provide an update on the Neo Valley project and its key milestones? A: Neo Valley comprises multiple projects, including Neo Valley Narmada and Neo Valley Kaveri. We have received environmental clearance for Narmada and are progressing with construction. Neo Park Ashoka is nearing completion, with OC applications underway. Director

Story continues  

Q: What is the status of the amalgamation arrangement, and how will it impact the company’s growth? A: The amalgamation is progressing, with significant land parcels in Panvel, Dombivli, and Sion coming into the fold. This will provide about 400 acres of land, enhancing our growth potential in the MMR region. Chairman and Managing Director

Q: How is the company addressing the redevelopment opportunities in Mumbai, and what are the plans for future projects? A: We have a dedicated team working on redevelopment projects, with several clusters nearing finalization. We are cautious in our approach, ensuring thorough due diligence before announcements. We are also exploring joint ventures to maximize land monetization. Director

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

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