Marathon Nextgen Realty Launches ₹370 Crore Residential Development in Bhandup
Last Updated on, November 17th, 2025
Marathon Nextgen Realty Ltd., one of the leading real estate company engaged in the development of residential and commercial projects, announced the launch of three new residential towers in Bhandup, reinforcing its leadership in the micro-market and expanding its Neohomes portfolio — Marathon’s signature line of modern, efficient, and lifestyle-driven urban residences.
The launch includes a new residential project within the 6.5-acre Neo Park layout, spread across 5,100 sq. mt. of land, offering a total saleable carpet area of ~1.2 lakh sq. ft. with an estimated Gross Development Value (GDV) of ₹200 crore. Alongside this, MNRL is introducing the second tower of Neovalley Narmada and the third tower of Neo Park Ashoka, together adding ~1 lakh sq. ft. of saleable carpet area with an additional GDV of ₹170 crore. In total, approximately 2.2 lakh sq. ft. of residential space, with a combined GDV of ₹370 crore, is being launched under the Neohomes category in Bhandup.
Neohomes are designed for today’s dynamic urban lifestyles, offering thoughtfully crafted apartments complemented by a carefully curated set of amenities. Residents will enjoy a fitness centre, rooftop garden, children’s play area, and 24×7 security, creating a safe, convenient, and community-centric environment.
These offerings reflect Marathon’s focus on delivering aspirational housing that meets the evolving needs of Mumbai’s new-age homebuyers. This launch is in line with the strategic roadmap outlined by the management during its Q1 FY26 earnings call, emphasizing steady, profitable, and sustainable growth across Marathon’s residential portfolio.
Marathon has already delivered over 700 Neohomes in Bhandup, with Neosquare receiving its OC and the next phase nearing completion — a testament to the company’s consistent delivery and execution excellence. This consistent track record of on-time delivery and quality construction continues to reinforce MNRL’s reputation as one of Mumbai’s most trusted developers.
Bhandup has rapidly emerged as a preferred residential hub in the eastern suburbs, supported by robust connectivity and infrastructure upgrades such as the Goregaon–Mulund Link Road and the upcoming Shangrila Metro Station. Its growing ecosystem of educational institutions, retail, healthcare, and commercial spaces further enhances its appeal for end-users and investors alike.
Commenting on the announcement, Mr. Kaivalya Shah, Director, Marathon Nextgen Realty Limited, said: “We are excited to launch another project in Bhandup — a location that has been integral to Marathon’s growth journey. Over the years, the area has transformed into one of Mumbai’s most promising residential destinations, driven by connectivity upgrades and lifestyle infrastructure. The Neo Park development perfectly aligns with this growth story, offering a combination of smart design, trusted execution, and long-term value. This new launch further strengthens our portfolio in the micro-market and reaffirms Marathon’s commitment to delivering modern, high-quality housing at scale.”
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/
For further information, please contact:
| Mr. Avinash Tanawade Investor relations P: +91 22 6724 8484 E: avinash.tanawade@marathonrealty.com |
Kanav Khanna / Mahalakshmi Venkatachalam Associate Vice President / Senior Associate EY LLP Email: kanav.khanna@in.ey.com nachiket.kale@in.ey.com M: +91 9910036240 / 9920940808 |
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.
