Powering Growth: Marathon Adds ₹840+ Crore GDV, Strengthening Its Presence in Kanjurmarg

Marathon Acquires Three Real Estate Entities with Projects worth a GDV of Over ₹840 Crore

Mumbai, April 1, 2026: Marathon NextGen Realty Ltd. (MNRL), a leading real estate developer with a strong focus on residential and commercial projects in the Mumbai Metropolitan Region, has announced that its wholly owned subsidiary, Nexzone IT Infrastructures Private Limited (NZIT), has acquired a 51% controlling interest in three real estate entities. These investments collectively unlock a combined Gross Development Value (GDV) of over ₹840 Crores and Carpet Area of 5.94 lakh Sq.ft. across projects in Kanjurmarg, Mumbai.

The Company received intimation from NZIT on March 27, 2026, and has made the necessary disclosures to BSE and NSE pursuant to Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of the Acquisitions

As mentioned in the table, the total aggregate consideration for all three acquisitions amounts to approximately ₹70 crores. The combined Gross Development Value (GDV) of the projects held by the acquired entities is expected to exceed ₹840 crores over the life of the projects.

By acquiring a 51% controlling interest in each entity, NZIT gains direct influence over ongoing project execution, enabling the Company to support vertical expansion, deepen its presence in the MMR, and enhance its project pipeline. The acquisitions are expected to generate significant synergies given that all three entities operate in the same business segment, while the combined GDV of over ₹840 Crores across these projects underscores the long-term value creation potential for the Company’s shareholders and stakeholders.

Strategic Rationale: Quicker Turnaround

Real estate projects typically involve extended timelines from land acquisition through to construction and eventual sale. As part of its growth strategy, Marathon is deliberately deploying available capital into acquisitions that offer a quicker realisation cycle, enabling faster revenue generation and improved capital efficiency.

Approximately 35% of the projects under these acquisitions are either already under construction or are positioned for launch within the next twelve months, providing near-term revenue visibility and reinforcing the Company’s focus on projects with strong execution readiness.

Approximately 20% of the total project area under these acquisitions has been earmarked as Permanent Transit Camp (PTC). Under this model, the Company undertakes construction and hands over completed units to the Slum Rehabilitation Authority (SRA) against other developers’ requirements. This structure enables effective monetisation by catering to developers located within a 5 km radius or in adjoining wards (T, P/S, K/E, L, N) of the land parcel.

Developers operating in Vile Parle East, Andheri East, Jogeshwari East, and Goregaon East are immediate beneficiaries of this model. Marathon intends to expand this PTC segment going forward, with the potential to create incremental value for developers in neighbouring wards and to further strengthen the Company’s position as a preferred partner within the broader SRA redevelopment ecosystem.

About Marathon NextGen Realty Ltd.

For over 56 years now, Marathon Group has been helping shape Mumbai’s skyline. Founded in 1969 by Ramniklal Zaverbhai Shah, the Group has completed over 100 projects in the city with a portfolio encompassing townships, affordable housing, luxury residential, retail, small business spaces, and corporate parks. Marathon is design-driven and engineering-focused with a leadership team comprising of technocrats. Mr. Chetan Shah, Chairman & Mr. Mayur Shah, Vice-Chairman, have completed their engineering from US and the third generation of the company comprising of the three head of project –Mr. Kaivalya Shah, Mr. Parmeet Shah, and Mr. Samyag Shah are highly qualified having completed their education from US and bring years of real estate experience. Marathon has strong in-house capabilities in design, engineering, execution, marketing, and sales and prides itself on its transparency, customer-centricity and is among one of the most trusted Developers. The Group has ongoing projects at Lower Parel, Byculla, Mulund, and land banks at Bhandup, Thane, Dombivli and Panvel.

More information is available at https://www.marathonnextgen.com/

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Disclaimer

Some of the statements in this communication may be ‘forward-looking statements within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the company’s operations include changes in the industry structure, significant changes in the political and economic environment in India and overseas, tax laws, duties, litigation, and labour relations.