Date: August 8, 2026

Financial Performance

Consolidated Financial Results for Q1 FY27:

  • Total Revenues: ₹217 crore
  • EBITDA: ₹66 crore
  • Profit After Tax (PAT): ₹52 crore
  • The company maintained a net debt-free balance sheet with a positive net cash position

Operational Highlights

Operational Metrics for Q1 FY27:

| Metric | Existing Portfolio | Merged Portfolio |

| Area Sold | 0.38 Lakh Sq.Ft. | 0.46 Lakh Sq.Ft. |

| Booking value (registered) | ₹86 Cr | ₹108 Cr |

| Collections | ₹118 Cr | ₹146 Cr |

Note: Data based on Carpet Area. Based on 40% revenue share for Monte South project.

Strategic Developments

Project Milestones:

  • Achieved full Occupancy Certificates for the Cedar and Daffodil towers at Nexzone, enabling customer handovers
  • Construction activity progressing as planned at Monte South, Bhandup and Nexzone developments

Pipeline Expansion:

  • Added two redevelopment projects in Versova and Sewri
  • Total Gross Development Value (GDV) of new projects: ₹900 crore

Management Commentary

Mr. Chetan Shah, Chairman & Managing Director, commented on the company's performance:

  • Commenced FY27 with profitable growth supported by disciplined execution
  • Business model demonstrates resilience with strong profitability and healthy collections
  • Execution remains the foremost priority with focus on timely delivery
  • Mumbai real estate market shows resilience with sustained end-user demand
  • Strategic priorities include timely execution, disciplined capital deployment, expansion of redevelopment platform, and building PTC sales portfolio
  • Company is well-positioned with strong balance sheet and expanding project pipeline

Company Background

Marathon Group has been operating for over 56 years since 1969, founded by Ramniklal Zaverbhai Shah. The company has completed over 100 projects in Mumbai with a portfolio encompassing townships, affordable housing, luxury residential, retail, small business spaces, and corporate parks. Ongoing projects are located at Lower Parel, Byculla, Mulund, with land banks at Bhandup, Thane, Dombivli and Panvel.

Leadership Team

The leadership team includes:

  • Mr. Chetan Shah, Chairman (Engineering degree from US)
  • Mr. Mayur Shah, Vice-Chairman (Engineering degree from US)
  • Third generation project heads: Mr. Kaivalya Shah, Mr. Parmeet Shah, and Mr. Samyag Shah (all highly qualified with education from US and real estate experience)

The company has strong in-house capabilities in design, engineering, execution, marketing, and sales.