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Marathon Nextgen Realty (MNRL) reported a net profit of INR?66.53?crore for the quarter ended September, up 34.54?% from INR?49.45?crore a year ago, despite a 6.44?% decline in total income to INR?155.06?crore from INR?165.73?crore. The company attributed this growth to strong execution, financial discipline, and operational efficiency. During the quarter, it launched Phase?III, Nirvana?Collection, of its Marathon?Nexzone township in Panvel with a gross development value exceeding INR?600?crore and raised INR?899.99?crore through a qualified institutional placement.
Marathon Nextgen Realty recorded a net consolidated profit after tax of INR?66.53?crore in the quarter ending September, reflecting a 34.54?% increase from INR?49.45?crore in the same period last year. The company?s total income, however, declined by 6.44?% to INR?155.06?crore from INR?165.73?crore. The management stated that the profit growth was driven by careful execution, operational efficiency, and strong financial discipline. Advertisement
During the quarter, Marathon Nextgen launched Phase?III of its township Marathon?Nexzone in Panvel, named Nirvana?Collection. Spread across approximately three acres, this phase has an estimated gross development value exceeding INR?600?crore. The project adds significant residential inventory in a key suburban location, reflecting the company?s focus on strategic expansion.
Additionally, Marathon Nextgen raised INR?899.99?crore through a qualified institutional placement by allotting over 1.62?crore equity shares at a price of INR?555.13 per share. This infusion of capital is expected to support ongoing projects and future development plans, strengthening the company?s financial position.
This performance comes at a time when many real estate companies face revenue pressures, showing that disciplined execution and capital management can help sustain profitability even when total income drops. Marathon Nextgen?s efforts in launching new township phases and securing significant capital indicate a focus on growth and long-term value creation.
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