Marathon Nextgen Realty
Marathon Nextgen Realty is a publicly listed Mumbai real estate developer (NSE: MARATHON) and the listed arm of 53-year-old Marathon Group, delivering residential, commercial, and township projects across the Mumbai Metropolitan Region. The company serves first-time homebuyers, upgraders, investors, and SME tenants through an in-house execution model spanning 418 acres of land bank.
- Company typePublic
- Founded1973
- HeadquartersMumbai, India
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Marathon Nextgen Realty does
Marathon Nextgen Realty Ltd is the publicly listed entity (NSE: MARATHON) of the 53-year-old Marathon Group, a Mumbai-based real estate development firm that has completed over 80 projects across the Mumbai Metropolitan Region, serving over 10,000 families, 400 retailers, and 350 businesses. The company operates a diversified portfolio spanning residential (luxury, mid-segment, affordable), commercial, and township developments, with products including the Nextgen mixed-use campus, Monte South (luxury), Marathon Nexzone (township near Navi Mumbai airport), NeoHomes (affordable), Marathon Futurex and Marathon Millennium (commercial), and the new Monte South Commercial JV with Adani Realty.
The company's core technology is its in-house execution model, handling all core construction activities (planning, engineering, procurement, execution) internally while outsourcing only labor, a deliberate choice to avoid quality inconsistencies observed with EPC contracting. With 25+ years of structural engineering expertise, the firm leverages a 418-acre unified land bank to unlock over 4 crore sq ft of development potential across Lower Parel, Byculla, Panvel, Bhandup, Dombivli, and Mulund. Recent strategic additions include a 51% stake acquisition in three Kanjurmarg real estate companies (Rs 840+ crore GDV) and entry into society redevelopment via the Sunset Spaces subsidiary.
Marathon Nextgen generates revenue through one-time residential property sales (across affordable, mid-segment, and luxury tiers), commercial property sales and leasing (primarily to SMEs at Futurex and Millennium), and retail space leasing within mixed-use developments. Pricing is quote-based and varies by project, configuration, and micro-market. The go-to-market combines direct sales via company offices and website inquiries, a channel partner network of brokers, and referral/loyalty programs. FY26 total income reached Rs 639 crore with a record PAT of Rs 206 crore and 33% margins, reflecting net debt-free status following the Rs 900 crore QIP in June 2025.
Marathon Nextgen Realty firmographics
Firmographics- Name
- Marathon Nextgen Realty
- Legal name
- Marathon Nextgen Realty Ltd
- Website
- https://marathonnextgen.com
- Company type
- Public
- Founded year
- 1973
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Marathon Nextgen Realty is a publicly listed Mumbai real estate developer (NSE: MARATHON) and the listed arm of 53-year-old Marathon Group, delivering residential, commercial, and township projects across the Mumbai Metropolitan Region. The company serves first-time homebuyers, upgraders, investors, and SME tenants through an in-house execution model spanning 418 acres of land bank.
- Ownership category
- akta.pro rank
Marathon Nextgen Realty industry classification
Industry- Product category
- Real Estate Development
- NAICS
- New Housing For-Sale Builders (236117), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Lessors of Other Real Estate Property (531190)
- SIC
- General Bldg Contractors - Residential Bldgs (1520), Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Dealers (For Their Own Account) (6532), General Bldg Contractors - Nonresidential Bldgs (1540)
- akta.pro primary industry
- Spec Home / Production Homebuilding (Tract & Volume Builders) (IMAFABAD)
- akta.pro secondary industry
- Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities) (IMAFABAL)
Keywords
Where Marathon Nextgen Realty is headquartered
LocationHeadquarters
- HQ city
- Mumbai
- HQ country
- India
- HQ region
- Asia
Offices2 records
Markets served
Marathon Nextgen Realty business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Supply Chain, Operations, Personnel, Marketing or Sales
Revenue model
- Residential Property Sales: Revenue from sale of residential units across affordable, mid-segment, and luxury housing projects including NeoHomes, Monte South, Nexzone, and other developments in Mumbai Metropolitan Region.
- Commercial Property Sales and Leasing: Commercial assets including Marathon Futurex in Lower Parel and Marathon Millennium in Mulund generate revenue through sales and leasing to SMEs. Commercial portfolio contributes significantly to earnings with elevated realisations and strong leasing interest.
- Retail Space Leasing: Revenue from retail spaces provided to retailers as part of mixed-use developments.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Other | Quote-based pricing varies by project, unit type, and market conditions |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels7 records
Marathon Nextgen Realty product offering
Product offeringCore offering
Marathon Nextgen Realty Ltd is a Mumbai-based real estate developer that designs, builds, and sells residential, commercial, and township properties across the Mumbai Metropolitan Region. The company operates an in-house execution model handling planning, engineering, procurement, and construction internally, and sells units across affordable (NeoHomes series), mid-segment, and luxury (Monte South) housing, as well as commercial offices and retail space in projects such as Marathon Futurex and Marathon Millennium. Revenue is generated primarily through the sale and leasing of developed real estate assets.
Product overview
Marathon Nextgen Realty Ltd is a Mumbai-based real estate development company and publicly listed entity of Marathon Group (a 53-year-old firm with over 80 completed projects). The company operates a diversified portfolio across residential (luxury, affordable), commercial, and township segments in the Mumbai Metropolitan Region. Key products include Monte South (luxury residential), Marathon Nexzone (township), NeoHomes series (affordable housing), Marathon Futurex and Marathon Millennium (commercial), and Monte South Commercial (joint venture with Adani Realty). Projects span across key Mumbai micro-markets including Lower Parel, Byculla, Mulund, Bhandup, Panvel, and Dombivli.
Differentiator
Problem solved
Functional benefit
Products and services
- Marathon Futurex Flagship commercial project built on mill land in Lower Parel, part of the Nextgen mixed-use campus. Ongoing commercial project targeting businesses seeking office space.
- Marathon Icon Commercial project in the Marathon portfolio, currently ongoing, targeting businesses in Mumbai.
- Marathon Millennium Premium commercial project in Mulund, part of the company's commercial portfolio targeting SMEs and businesses seeking office space.
- Marathon Nexzone Township project in Panvel, one of the closest projects to the upcoming Navi Mumbai International Airport, targeting residential buyers and investors.
- Monte South Luxury residential project developed on Khatau Mills land in Byculla, South Mumbai, part of a larger mixed-use campus with multiple residential towers.
- Marathon NeoSquare Affordable housing project in Bhandup, part of the NeoHomes series, offering studios to 2BHK units (191-476 sq ft) for first-time homebuyers.
- Marathon Nextgen Era Luxury residential project in the Marathon portfolio, completed.
- Marathon Nextgen Innova Commercial project in the Marathon portfolio, completed.
- NeoHomes Bhandup Series of affordable housing projects in Bhandup addressing the unmet need for affordable, high-quality homes inside Mumbai city.
- Ekveera Residential project in Mulund (West), Mumbai.
- Nexworld Residential project in Dombivli (East), part of the high-growth regions strategy.
- Nextown Residential project in Kalyan-Shil area.
- Monte Carlo Residential project in Mulund (West), Mumbai.
- Eminence Residential project in Mulund (West), Mumbai.
- Zaver Arcade Residential project in Mulund (West), Mumbai.
- Monte South Commercial Joint venture commercial project with Adani Realty in Byculla offering approximately 1.2 million sq ft of mixed-use office and retail space within the Monte South campus, with estimated GDV of Rs 3,400 crore.
Quantifiable outcome
- PAT margin of 33% for nine months ended December 2025
- +3 more outcomes
Companies that use Marathon Nextgen Realty
Customer profileSegments4 records
Ideal customer profiles4 records
Marathon Nextgen Realty technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Marathon Nextgen Realty partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- Nexzone IT Infrastructures Private LimitedcoreMarathon Nextgen Realty's subsidiary Nexzone IT Infrastructures Private Limited acquired a 51% stake in three real estate companies for Rs 70 crore, gaining access to six projects in the Mumbai Metropolitan Region with combined GDV of over Rs 840 crore. The acquisition enhances project control, accelerates revenue generation, and strengthens the company's market position within the SRA (Slum Rehabilitation Authority) framework.
- Adani RealtycoreAdani Realty and Marathon Nextgen Realty formed a joint venture to develop Monte South Commercial in Byculla, Mumbai. The project spans approximately 1.2 million sq ft of office and retail space with an estimated GDV of Rs 3,400 crore. This is part of the larger Monte South campus where the companies are already developing a residential project with four towers. The collaboration combines Adani Realty's commercial development expertise with Marathon's existing land holdings and development track record in South Mumbai.
Scale indicators17 records
Recent moves7 records
Expansion highlights7 records
Marathon Nextgen Realty competitors and assessment
Company assessmentDirect peers
- Kalpataru Limited: Kalpataru Limited is a Mumbai-based listed real estate developer with a long operating history in residential and commercial projects across MMR. Both Marathon and Kalpataru focus on Mumbai micro-markets and target similar mid-to-premium buyer segments.
- Hiranandani Group: Hiranandani Group is a Mumbai-focused real estate developer with a strong track record in townships and premium residential developments. Both companies operate in similar Mumbai micro-markets and target comparable end-user and investor segments.
- Oberoi Realty: Oberoi Realty is a Mumbai-focused listed real estate developer specializing in premium and luxury residential and commercial projects. Both companies compete in South Mumbai micro-markets (Lower Parel, Byculla area) and target similar upscale buyer segments.
- Macrotech Developers (Lodha): Macrotech Developers (Lodha Group) is India's largest listed real estate developer by market cap with extensive Mumbai Metropolitan Region operations. Both companies develop residential and commercial projects in Mumbai targeting similar buyer segments, making Lodha the most directly comparable peer for Marathon Nextgen.
- Mahindra Lifespace Developers: Mahindra Lifespace Developers is a listed Indian real estate developer with Mumbai and Chennai operations, focusing on residential and integrated township developments. Similar to Marathon, it targets urban housing demand with a mixed affordable-premium portfolio.
Regional players
- Sobha Limited: Sobha Limited is a listed real estate developer with a backward-integrated execution model similar to Marathon's in-house approach, though primarily Bangalore-focused. Both companies emphasize construction quality and self-execution as a competitive differentiator.
- Brigade Enterprises: Brigade Enterprises is a South India-focused listed real estate developer with a portfolio of residential, commercial, and hospitality projects. Although Bangalore-based, Brigade shares with Marathon a focus on integrated townships, SRA-adjacent redevelopment, and mixed-use developments.
- Prestige Group / Prestige Estates Projects: Prestige Estates Projects is a leading South India-focused listed real estate developer with major operations in Bangalore. While geographically separate from Marathon, both companies follow similar large-scale township and mixed-use development models and target comparable mid-to-premium customer segments.
Broad incumbents
- DLF Limited: DLF is India's largest real estate developer with a broad portfolio of residential, commercial, and retail properties. Although primarily North India-focused, DLF operates in Mumbai and competes for institutional investor capital, making it a relevant broad incumbent comparable.
- Godrej Properties: Godrej Properties is one of India's largest listed real estate developers with pan-India operations across residential and commercial segments. While Marathon focuses exclusively on Mumbai, Godrej competes for similar institutional capital and operates an asset-light JV model that contrasts with Marathon's in-house execution approach.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Marathon Nextgen Realty social profiles
Digital presenceMarathon Nextgen Realty financial estimates
Financial estimateRevenue estimate
Valuation estimate
Marathon Nextgen Realty leadership team
Management profileNumber of profiles
Profiles4 records
Marathon Nextgen Realty subsidiaries and ownership
Company hierarchySubsidiaries2 records
Marathon Nextgen Realty funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Marathon Nextgen Realty M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Marathon Nextgen Realty
What does Marathon Nextgen Realty do?
Marathon Nextgen Realty Ltd is a Mumbai-based real estate developer that designs, builds, and sells residential, commercial, and township properties across the Mumbai Metropolitan Region. The company operates an in-house execution model handling planning, engineering, procurement, and construction internally, and sells units across affordable (NeoHomes series), mid-segment, and luxury (Monte South) housing, as well as commercial offices and retail space in projects such as Marathon Futurex and Marathon Millennium. Revenue is generated primarily through the sale and leasing of developed real estate assets.
Is Marathon Nextgen Realty a public or private company?
Marathon Nextgen Realty is a public company. It is classified as public and is currently operating.
When was Marathon Nextgen Realty founded?
Marathon Nextgen Realty was founded in 1973. It employs 51 to 100 people.
Where is Marathon Nextgen Realty based?
Marathon Nextgen Realty is headquartered in Mumbai, India, in the Asia region.
How does Marathon Nextgen Realty make money?
Three revenue lines are on record. Residential Property Sales are the primary driver. The others are commercial Property Sales and Leasing and retail Space Leasing.
Who are Marathon Nextgen Realty's main competitors?
Direct peers on record are Kalpataru Limited, Hiranandani Group, Oberoi Realty, Macrotech Developers (Lodha) and Mahindra Lifespace Developers. Regional players are Sobha Limited, Brigade Enterprises and Prestige Group / Prestige Estates Projects. Broad incumbents are DLF Limited and Godrej Properties.
Does Marathon Nextgen Realty have an API?
No public API is recorded for Marathon Nextgen Realty.
What industry is Marathon Nextgen Realty in?
Marathon Nextgen Realty's product category is Real Estate Development. Its primary akta.pro industry code is IMAFABAD, Spec Home / Production Homebuilding (Tract & Volume Builders), with a secondary code of IMAFABAL, Residential Land Development & Subdivision Homebuilding (Build-to-Sell Communities). Its NAICS code is 236117 and its SIC code is 1520.