Marathon NextGen Realty logo

Marathon NextGen Realty

MARATHON NSE

Key Fundamentals

MicrocapResidential Commercial ProjectsRealty
Market Cap
₹2,915 Cr
Volatility
Moderate
P/E Ratio
15
EBITDA
₹264 Cr
Return on Equity
8.09%
Debt to Equity
0.04
Book Value
₹337.29
EPS
₹32.51
52W High
₹685.4
52W Low
₹344.05

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company has reduced debt.
  • Company is almost debt free.

Weaknesses

5
  • Company has a low return on equity of 9.90% over last 3 years.
  • Earnings include an other income of Rs.110 Cr.
  • Dividend payout has been low at 3.05% of profits over last 3 years
  • Promoter holding has decreased over last 3 years: -18.0%
  • Working capital days have increased from 405 days to 658 days

Growth Rate

Revenue Growth
-5.59% higher than 3Y
Net Income Growth
15.94% higher than 3Y
Cash Flow Change
-114% higher than 3Y
ROE
-40.12% lower than 3Y
ROCE
-36.21% lower than 3Y
EBITDA Margin (Avg.)
3.64% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 69d ago
AI opinion · based on fundamentals
Risk high

Marathon Nextgen Realty Ltd is an almost debt-free real estate company trading at a PE of 13.9x and PB of 1.26x with a market cap of Rs.2,885 Cr. While compounded profit growth over 5 years stands at 68% CAGR, TTM sales have declined 14% and the stock has corrected 36% over the past year.

Bull Case 8
  • Company is almost debt-free, having reduced debt significantly, providing financial flexibility in a capital-intensive real estate sector
  • PE ratio of 13.9x is modest for a real estate developer, suggesting undemanding valuations relative to earnings
  • Price-to-book of 1.26x indicates the stock trades close to book value, offering potential margin of safety
  • Compounded profit growth of 68% CAGR over 5 years demonstrates strong earnings trajectory over a longer horizon
  • 3-year compounded profit growth of 18% CAGR shows sustained earnings expansion beyond short-term volatility
  • TTM profit growth of 42% indicates robust year-on-year earnings improvement despite revenue headwinds
  • 10-year stock CAGR of 15% and 5-year CAGR of 46% show long-term wealth creation track record
  • 5-year compounded sales growth of 19% CAGR reflects solid medium-term revenue expansion capability
Bear Case 8
  • TTM sales have declined 14% and 3-year sales CAGR is negative at -12%, indicating sustained revenue deterioration
  • Promoter holding has decreased by 18.1% over the last 3 years, raising governance and alignment concerns
  • Working capital days have surged from 471 to 857 days, signaling potential stress in cash conversion and project execution
  • Other income of Rs.140 Cr forms a significant portion of earnings, meaning core operating profitability may be overstated
  • Stock has corrected 36% over the past 1 year, reflecting negative market sentiment and potential fundamental concerns
  • 3-year ROE of approximately 13.8% is below 15%, which is considered a threshold for quality compounders
  • Dividend yield of only 0.23% offers negligible income return to shareholders despite low debt levels
  • Divergence between profit growth (42% TTM) and sales decline (-14% TTM) raises questions about earnings quality and sustainability

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 69d ago
Positives 1
  • Foray into society redevelopment Jul 3

    Subsidiary Sunset Spaces signed a development agreement for a Versova redevelopment project with a gross development value (GDV) of over ₹450 crore, marking Marathon Nextgen's entry into society redevelopment.

Neutral 2
  • Investor meet scheduled Jun 30 Jun 24

    Marathon Nextgen Realty scheduled a group meeting for institutional investors and analysts on June 30, 2026, in Mumbai.

  • Marketing head resigns Jun 10

    Assistant General Manager - Marketing Deepak Ramkrishna resigned effective June 12, 2026, to pursue new opportunities.

TL;DR: Marathon Nextgen Realty is expanding its addressable market by entering the society redevelopment segment via its subsidiary, with a ₹450 crore GDV project in Versova. No material headwinds emerged in this period, though the departure of a mid-level marketing executive is worth monitoring. The redevelopment foray signals a growth-oriented strategy, and investor engagement activity suggests management is proactively communicating with the Street.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
210
129
210
155
162
146
123
149
141
117
125
114
198
Expenses
149
81
134
108
109
104
87
107
110
75
100
89
151
Operating Profit
61
48
76
47
53
42
36
41
31
42
25
25
47
OPM %
29%
37%
36%
30%
33%
29%
30%
28%
22%
36%
20%
22%
24%
Other Income
10
10
10
11
11
20
26
39
50
38
14
38
19
Interest
25
23
29
14
19
13
9
18
12
2
0
0
1
Depreciation
1
1
1
1
1
1
1
1
0
0
0
0
0
PBT
45
35
57
44
44
49
53
62
68
78
38
63
65
Tax %
25%
22%
27%
28%
26%
19%
21%
22%
23%
18%
27%
29%
24%
Net Profit
43
34
51
40
38
49
49
54
62
67
33
46
52
EPS in Rs
9.11
7.29
9.8
7.78
7.22
9.46
9.35
10.41
11.69
9.8
4.8
6.63
7.45
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
197
193
69
82
241
206
306
717
705
580
496
553
Expenses
137
136
26
30
177
142
232
471
472
407
375
414
Operating Profit
60
57
43
52
64
64
74
246
233
173
121
138
OPM %
31%
29%
62%
63%
27%
31%
24%
34%
33%
30%
24%
25%
Other Income
45
50
1
1
8
18
38
36
41
96
140
110
Interest
0
0
5
21
41
44
75
123
91
59
13
3
Depreciation
0
0
1
2
6
5
3
3
3
3
2
2
PBT
105
106
39
30
26
32
35
156
180
208
247
243
Tax %
21%
21%
27%
20%
21%
28%
33%
28%
26%
22%
24%
—
Net Profit
83
84
39
32
25
16
39
124
169
191
206
197
EPS in Rs
14.65
14.79
8.42
6.84
5.23
3.3
8.37
26.12
32.53
36.43
30.1
28.68
Div. Payout %
3%
3%
12%
7%
0%
0%
6%
4%
3%
3%
3%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
28
28
23
23
23
23
23
23
26
26
34
Reserves
567
648
527
584
570
586
626
762
980
1,161
2,241
Borrowings
0
11
208
429
567
739
1,087
869
761
560
99
Other Liabilities
8
8
128
461
456
351
402
499
482
359
385
Total Liabilities
604
696
885
1,497
1,617
1,699
2,139
2,153
2,248
2,107
2,759
Fixed Assets
0
0
105
221
294
287
286
283
286
237
173
CWIP
0
0
0
0
0
0
0
0
0
0
0
Investments
0
0
14
22
26
13
271
49
81
110
399
Other Assets
603
695
767
1,255
1,297
1,399
1,582
1,821
1,881
1,760
2,187
Total Assets
604
696
885
1,497
1,617
1,699
2,139
2,153
2,248
2,107
2,759
Figures in ₹ Crores

Cash Flow

Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-52
-56
169
101
18
-109
76
315
22
-25
-54
Investing
64
45
-198
-312
-71
-3
-375
27
112
298
-292
Financing
-14
8
40
203
60
144
274
-326
-155
-265
411
Net Cash Flow
-2
-3
11
-8
7
32
-26
15
-21
8
65
Free Cash Flow
-52
-56
168
92
18
-108
75
314
21
75
99
CFO/OP
-31
-54
419
207
11
-169
122
140
29
12
13
Figures in ₹ Crores

Ratios

Particulars Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
128
497
0
24
33
89
45
22
49
66
42
Inventory Days
383
65
—
—
12,215
14,683
—
—
5,749
—
—
Days Payable
4
5
—
—
3,492
1,510
—
—
460
—
—
Cash Conversion Cycle
507
556
0
24
8,756
13,262
45
22
5,338
66
42
Working Capital Days
385
558
557
1,086
173
860
441
213
246
310
658
ROCE %
—
17%
6%
6%
6%
6%
7%
17%
16%
12%
8%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

FIIs4.68%Promot.56.42%Others8.96%DIIs14.70%Public15.23%As ofJun 2026

Documents

Frequently Asked Questions about Marathon NextGen Realty

What does Marathon Nextgen Realty Ltd do?
Marathon Nextgen Realty Ltd was incorporated in 1978. It is primarily engaged in the business of construction, development and sale of commercial and residential real estate projects. The co. is entering into new areas like SEZs, townships, infrastructure development, entertainment and leisure, e...
Where is Marathon Nextgen Realty Ltd (MARATHON) listed?
Marathon Nextgen Realty Ltd trades as MARATHON on the NSE and under code 503101 on the BSE.
Which sector does Marathon Nextgen Realty Ltd belong to?
Marathon Nextgen Realty Ltd is classified under the Realty sector, in the Residential Commercial Projects industry.
What is the market capitalisation of Marathon Nextgen Realty Ltd?
Marathon Nextgen Realty Ltd has a market capitalisation of ₹2,915 Cr, which places it in the Small Cap band.
What is the PE ratio of Marathon Nextgen Realty Ltd?
Marathon Nextgen Realty Ltd trades at a PE ratio of 15.00, on earnings per share of ₹32.51, against a book value of ₹337.29 per share.
What is the 52-week high and low of Marathon Nextgen Realty Ltd?
Over the last 52 weeks Marathon Nextgen Realty Ltd has traded between ₹344.05 and ₹685.4.
Does Marathon Nextgen Realty Ltd pay dividends?
Marathon Nextgen Realty Ltd has a dividend yield of 0.23%.
What is the Return on Equity (ROE) of Marathon Nextgen Realty Ltd?
Marathon Nextgen Realty Ltd reported a return on equity of 8.09%. Its debt-to-equity ratio is 0.04.

Company Information

Marathon Nextgen Realty Ltd was incorporated in 1978. It is primarily engaged in the business of construction, development and sale of commercial and residential real estate projects. The co. is entering into new areas like SEZs, townships, infrastructure development, entertainment and leisure, education, hospitality and the capital markets. [1] [2]

Website marathon.in
CEO Mr. Chetan Ramniklal Shah B.Tech, M.S. (USA)
Listed 2016-09-29
Face Value ₹ 5
Issued Size 6,74,20,546

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