Marathon Nxtgen Realt Ltd
NSE: MARATHON · Residential, Commercial Projects · sector
₹372.00NSE close 2026-10-26
Key numbers
Market cap₹2,509 cr
Price₹372.00
52w high / low₹678 / ₹344
P/E14.3xSector median 18.7x
P/B1.1xSector median 1.4x
Book value₹350.3
Dividend yield0.27%Sector median 0.54%
ROE7.5%Sector median 5.5%
ROCE9.1%Sector median 6.5%
OPM24.6%Sector median 12.1%
Debt / equity0.06xSector median 0.36x
EV/EBITDA16.9xSector median 17.7x
Interest cover128.4x
Current ratio5.42x
Sales growth 3y-11.5%Sector median +16.6%
Profit growth 3y+17.9%Sector median +28.0%
PEG1.87x
Last 12 months to Sep 2026, Consolidated. "Sector median" = middle value of 141 companies in Residential, Commercial Projects (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹405 cr vs borrowings ₹99 cr (FY26): cash is higher (net cash).
- Borrowings fell in each of the last 3 years (₹869 cr → ₹99 cr).
- Operating profit covered interest 128.4x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 2 of the last 5 years (FY26, FY24).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 52% of net profit in the last 12 months.
- Dividend paid in 4 of the last 5 financial years.
- Price ₹372.00 on 2026-10-26: -45.1% from the 52-week high, +8.1% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹738.25 · low ₹353.65
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 123 | 74 | 141 | 117 | 125 | 114 | 198 | 129 |
| EBITDA | 36 | 19 | 31 | 42 | 23 | 25 | 47 | 45 |
| OPM % | 29.5% | 25.4% | 22.0% | 36.0% | 18.2% | 21.9% | 23.6% | 35.0% |
| Other income | 26 | 37 | 50 | 38 | 16 | 38 | 19 | 16 |
| Net profit | 48 | 41 | 60 | 29 | 32 | 45 | 50 | 44 |
| EPS (₹) | 9.58 | 8.00 | 11.69 | 9.80 | 4.85 | 6.75 | 7.78 | 6.70 |
| Revenue YoY | +1.3% | +54.1% | +40.3% | +10.4% | ||||
| Profit YoY | -32.5% | +9.1% | -16.1% | +51.7% |
Consolidated figures where filed. Latest quarter Sep 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 306 | 717 | 705 | 242 | 496 | 565 |
| EBITDA | 74 | 239 | 233 | 93 | 119 | 139 |
| Net profit | 39 | 124 | 166 | 136 | 203 | 171 |
| EPS (₹) | -3.36 | 26.12 | 34.43 | 26.51 | 32.56 | 26.08 |
| Revenue growth | +134.1% | -1.7% | -65.7% | +105.1% | +24.2% | |
| Profit growth | +218.1% | +34.6% | -18.4% | +49.5% | -3.7% | |
| Dividend / share (₹) | – | 0.50 | 1.00 | 1.00 | 1.00 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -11.5% | +19.3% | +24.2% |
| Net profit | +17.9% | +67.9% | -3.7% |
| EPS | +7.6% | +58.1% | – |
| Share price | – | -22.7% (2y) | -46.1% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 785 | 996 | 1,088 | 2,275 |
| Borrowings | – | 869 | 761 | 257 | 99 |
| Cash & equivalents | – | 83 | 93 | 18 | 405 |
| Total assets | – | 2,153 | 2,239 | 1,397 | 2,760 |
| Fixed assets | – | 8 | 10 | 2 | 14 |
| Capital work in progress | – | 0 | 0 | 0 | 0 |
| Investments | – | 45 | 73 | 338 | 129 |
| Receivables | – | 43 | 94 | 35 | 57 |
| Inventory | – | 518 | 620 | 194 | 837 |
| Payables | – | 59 | 50 | 10 | 55 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 127 | 386 | 22 | 137 | -54 |
| Cash from investing | -507 | -46 | 112 | -18 | -292 |
| Cash from financing | 355 | -326 | -155 | -146 | 411 |
| Capex | 0 | 0 | 1 | 0 | 0 |
| Free cash flow | 127 | 386 | 21 | 137 | -54 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 15.8% | 16.7% | 12.5% | 8.9% |
| ROCE % | – | 16.8% | 15.4% | 12.8% | 10.9% |
| Debtor days | – | 22 | 49 | 53 | 42 |
| Inventory days | – | 443 | 540 | 599 | 973 |
| Payable days | – | 50 | 43 | 31 | 64 |
| Cash conversion cycle (days) | – | 415 | 546 | 621 | 951 |
| Working capital days | – | 268 | 294 | 560 | 956 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 56.40% |
| FIIs | 2.59% |
| DIIs | 14.47% |
| of which Mutual funds | 9.93% |
| Public (non-institutions) | 26.54% |
| Quarter | Mar 2025 | Jun 2025 | Jul 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 73.63% | 73.63% | 55.92% | 55.92% | 55.92% | 56.37% | 56.42% | 56.40% |
| Promoter group | % |
|---|---|
| Marathon Realty PVT Ltd | 51.13% |
| Sonal Mayur Shah | 0.77% |
| Mayur Ramniklal Shah | 0.74% |
| Shailaja Chetan Shah | 0.74% |
| Chetan Ramniklal Shah | 0.74% |
| Ansuya Ramniklal Shah | 0.50% |
| Parmeet Mayur Shah | 0.37% |
| Samyag Shah | 0.37% |
| Kaivalya Shah | 0.37% |
| Shah Gargi Chetan | 0.37% |
| Rita Dhanraj Shah | 0.30% |
| Public holders above 1% | % |
|---|---|
| Quant Mutual Fund - Quant Small CAP Fund | 9.93% |
| Peanence Commercial PVT Limited | 4.24% |
| Buoyant Capital AIF - Buoyant Opportunit | 2.00% |
| Maybank Securities PTE Ltd - ODI | 1.76% |
| Rahul Dilipbhai Jhaveri | 1.48% |
| Sageone-flagship Growth OE Fund | 1.46% |
14,750 shareholders. Pledged: 0.00% of promoter shares.
Peers in Residential, Commercial Projects
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| DLF | ₹1,63,939 cr | 35.9x | 3.6x | 10.3% | 6.3% | 14.8% | +12.9% | 0.90% |
| LODHA | ₹97,912 cr | 23.7x | 4.2x | 19.0% | 17.9% | 32.2% | +20.8% | 0.43% |
| PHOENIXLTD | ₹67,737 cr | 52.9x | 6.2x | 11.9% | 15.4% | 59.1% | +18.8% | 0.13% |
| PRESTIGE | ₹60,152 cr | 52.8x | 3.7x | 7.2% | 10.5% | 28.1% | +15.1% | 0.12% |
| OBEROIRLTY | ₹57,522 cr | 21.9x | 3.0x | 14.7% | 16.9% | 57.1% | +12.8% | 0.51% |
| GODREJPROP | ₹45,942 cr | 28.7x | 2.4x | 8.8% | 6.9% | -7.7% | +31.6% | – |
| BRIGADE | ₹17,781 cr | 25.6x | 2.6x | 11.2% | 10.9% | 27.0% | +18.3% | 0.35% |
| ANANTRAJ | ₹16,514 cr | 27.8x | 2.9x | 11.6% | 11.1% | 27.0% | +37.9% | 0.15% |
| SOBHA | ₹12,247 cr | 64.1x | 2.6x | 4.1% | 6.5% | 6.5% | +16.2% | 0.26% |
| MARATHON | ₹2,509 cr | 14.3x | 1.1x | 7.5% | 9.1% | 24.6% | -11.5% | 0.27% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-18 | Dividend | Dividend - Re 1 Per Share |
| 2025-09-19 | Dividend | Dividend - Re 1 Per Share |
| 2024-09-17 | Dividend | Dividend - Re 1 Per Share |
| 2023-09-18 | Other | Annual General Meeting |
| 2023-09-18 | Dividend | Dividend - Re 1 Per Share |
| 2022-09-22 | Dividend | Annual General Meeting/Dividend - Re 0.50 Per Share |
| 2021-09-21 | Other | Annual General Meeting |
| 2020-09-22 | Other | Annual General Meeting |
| 2019-09-17 | Dividend | Dividend - Rs 0.50 Per Share |
| 2018-09-10 | Dividend | Annual General Meeting/Dividend Rs 2 Per Share |
| 2018-04-05 | Split | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 5/- Per Share |
| 2017-09-08 | Dividend | Dividend - Re 1/- Per Share |
| 2017-05-11 | Buyback | Buyback |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Real Estate: Real estate activities with own or leased property
| Sector | Consumer Discretionary |
| Industry | Residential, Commercial Projects |
| Sub-industry | Residential, Commercial Projects |
| Symbol | MARATHON |
| BSE code | 503101 |
| ISIN | INE182D01020 |
| Face value | ₹5.0 |
| Incorporated | 1978-01-13 |
| Website | https://marathon.in/nextgen/ |
| Plants (India / abroad) | 0 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.