Board Meeting Details
The Board meeting commenced at 2:30 p.m. and concluded at 6:20 p.m. on October 21, 2026.
Key Decisions Approved
1. Unaudited Financial Results: Approved the Unaudited Financial Results (Standalone and Consolidated) for the second quarter and half year ended September 30, 2026. The results were reviewed by the Audit Committee and Statutory Auditors conducted a Limited Review as per Regulation 33 of SEBI LODR.
2. Audit Committee Composition: Inducted Mr. Devendra Shrimanker, an existing Independent Director, as a Member of the Audit Committee with effect from October 21, 2026.
3. Deferred Item: Agenda item relating to approval of new/additional investments in Projects/SPVs was deferred.
Trading Window Status
Following intimation dated September 29, 2026, the Trading Window for designated persons and their immediate relatives remains closed from October 1, 2026, to October 23, 2026.
Standalone Financial Performance (Quarter Ended September 30, 2026)
- Revenue from operations: ₹6,203.55 lakh
- Other income: ₹2,464.06 lakh
- Total income: ₹8,667.61 lakh
- Profit before tax: ₹6,128.81 lakh
- Tax expense: ₹1,702.88 lakh (Current tax: ₹1,525.00 lakh, Deferred tax: ₹63.46 lakh, Excess/short provision of earlier year: ₹114.42 lakh)
- Net profit for the period: ₹4,425.93 lakh
- Share of profit from Joint Ventures: ₹352.85 lakh
- Total comprehensive income: ₹4,775.76 lakh
- EPS (Basic): ₹5.43 per share of face value ₹5/-
Standalone Financial Performance (Half Year Ended September 30, 2026)
- Revenue from operations: ₹10,128.78 lakh
- Other income: ₹5,194.54 lakh
- Total income: ₹15,323.32 lakh
- Profit before tax: ₹10,397.30 lakh
- Tax expense: ₹2,643.27 lakh (Current tax: ₹2,485.00 lakh, Deferred tax: ₹43.85 lakh, Excess/short provision of earlier year: ₹114.42 lakh)
- Net profit for the period: ₹7,754.03 lakh
- Share of profit from Joint Ventures: ₹686.68 lakh
- Total comprehensive income: ₹8,434.67 lakh
- EPS (Basic): ₹12.52 per share of face value ₹5/-
Consolidated Financial Performance (Quarter Ended September 30, 2026)
- Revenue from operations: ₹12,895.26 lakh
- Other income: ₹1,574.25 lakh
- Total income: ₹14,469.51 lakh
- Profit before tax: ₹5,972.31 lakh
- Tax expense: ₹1,806.45 lakh (Current tax: ₹1,568.83 lakh, Deferred tax: ₹122.64 lakh, Excess/short provision of earlier year: ₹114.98 lakh)
- Net profit for the period: ₹4,165.86 lakh
- Share of profit from Joint Ventures: ₹352.86 lakh
- Profit attributable to owners: ₹4,393.48 lakh
- Total comprehensive income: ₹4,515.41 lakh
- EPS (Basic): ₹6.70 per share of face value ₹5/-
Consolidated Financial Performance (Half Year Ended September 30, 2026)
- Revenue from operations: ₹32,645.49 lakh
- Other income: ₹3,523.32 lakh
- Total income: ₹36,168.81 lakh
- Profit before tax: ₹12,465.97 lakh
- Tax expense: ₹3,390.95 lakh (Current tax: ₹3,134.61 lakh, Deferred tax: ₹141.36 lakh, Excess/short provision of earlier year: ₹114.98 lakh)
- Net profit for the period: ₹9,075.02 lakh
- Share of profit from Joint Ventures: ₹686.69 lakh
- Profit attributable to owners: ₹9,416.57 lakh
- Total comprehensive income: ₹9,754.67 lakh
- EPS (Basic): ₹14.48 per share of face value ₹5/-
Significant Notes to Financial Statements
1. Segment Information: Company operates in single segment of real estate business.
2. Future X Project Revenue: During Q2 FY27, recognized revenue of ₹1,926.13 lakh from sale of identified area in commercial project Future X. Shared ₹837.87 lakh (43.50%) with Marathon Realty Private Limited, recorded as property development expense.
3. Composite Scheme: Board approved Composite Scheme of Amalgamation and Arrangement involving multiple entities including Matrix Water Management Private Limited, Sanvo Resorts Private Limited, Marathon Realty Private Limited, and others. Scheme filed with NCLT Mumbai for approvals. Company filed Company Scheme Petition (second motion) on September 24, 2026.
4. QIP Utilization: Out of total QIP proceeds of ₹89,999.93 lakh, ₹69,539.60 lakh utilized for QIP objects (including issue expenses) as of September 30, 2026. Balance ₹20,379.48 lakh invested in Mutual Funds, Debentures and Bonds, and ₹80.85 lakh in bank account.
5. Subsidiary Investment: Through wholly owned subsidiary Nexzone IT Infrastructure Private Limited, made further investment of ₹297.75 lakh in DVK Developers Private Limited, Shree S S Developers Private Limited, and Shree Swami Samarth Builders (collectively DVK group).
6. ESOP Allotment: Employees exercised 24,005 vested options under ESOP 2020. Company allotted 24,005 equity shares of face value ₹5 each at exercise price of ₹20 per share pursuant to NRC resolution dated July 14, 2026.
Assets and Liabilities Position (Standalone as of September 30, 2026)
- Total assets: ₹2,29,029.63 lakh
- Non-current assets: ₹1,79,370.58 lakh
- Current assets: ₹49,659.05 lakh
- Total equity: ₹2,24,085.81 lakh
- Equity share capital: ₹3,372.23 lakh
- Other equity: ₹2,20,713.58 lakh
Cash Flow (Standalone Half Year Ended September 30, 2026)
- Net cash from operating activities: ₹1,245.33 lakh
- Net cash used in investing activities: ₹(4,641.69) lakh
- Net cash from financing activities: ₹730.12 lakh
- Net decrease in cash and equivalents: ₹(2,666.24) lakh
Entities Included in Consolidation
The consolidated results include:
- Holding Company: Marathon Nextgen Realty Limited
- Wholly owned subsidiaries: Terrapolis Assets Private Limited, Marathon Nexzone Land Private Limited, Marathon Habitat Private Limited, Marathon Energy Private Limited, Nexzone IT Infrastructure Private Limited, Nexzone Water Management Private Limited
- Subsidiaries: Fiscal Services Private Limited, Sanvo Resorts Private Limited, Sunset Spaces Private Limited
- Stepdown subsidiaries: DVK Developers Private Limited, Shree S S Developers Private Limited, Shree Swami Samarth Builders
- Joint venture: Columbia Chrome (India) Private Limited
Auditor Review
Statutory auditors Rajendra & Co. Chartered Accountants conducted limited review of both standalone and consolidated results and issued unmodified review reports dated October 21, 2026.