Marathon Nextgen Realty Ltd. Results

Q2FY25 Quarterly Result Announced for Marathon Nextgen Realty Ltd.

Realty company Marathon Nextgen Realty announced Q2FY25 results Financial Highlights: Total Revenues stood at Rs 166 crore. EBITDA stood at Rs 72 crore. Profit before Tax (PBT) stood at Rs 49 crore. Profit After Tax (PAT) stood at Rs 49 crore. Net Debt reduced to Rs 685 crore as on Q2FY25 compared to Rs 718 crore as on Q1FY25. Net Debt to equity declined to 0.62x as on Q2FY25 compared to 0.68x as on Q1FY25. Operational Highlights: Area sold stood at 55,694 sq. ft. Booking value stood at Rs 128 crore. Collections stood at Rs 182 crore. Chetan Shah, Chairman & Managing Director, Marathon NextGen Realty, said: “We are pleased to report strong performance in Q2 FY25, marked by a stellar 43% YoY increase in PAT to ?49 crore. This performance reflects robust demand and increased offtake across key projects like Monte South, Millenium, and Futurex. We have also witnessed significant increase in realization rates, driven by strategic pricing and high-quality project offerings. Construction remains in full swing across projects, supporting timely delivery and enhancing customer satisfaction. In addition, we have dramatically reduced our finance costs and are on track with our debt reduction efforts, maintaining a low net debt-to-equity ratio that reinforces our strong financial position. Looking ahead, we are optimistic about our upcoming launches in Monte South, Neo Park, Nexzone, and Neo Valley. Positioned in prime locations and designed with distinctive, appealing features, these projects are expected to sustain strong sales momentum and profitability over the coming years. To support our growth ambitions and strengthen our portfolio, we have raised our fund-raising limit to Rs 1,000 crore. These funds will be allocated strategically toward new project acquisitions, further debt reduction, and working capital needs, providing a solid foundation for future expansion. With a strong pipeline of projects and focus on quality, we remain committed to delivering exceptional value to our stakeholders”

Q4FY24 Quarterly & FY24 Annual Result Announced for Marathon Nextgen Realty Ltd.

Realty company Marathon Nextgen Realty announced consolidated Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Net Revenues stood at Rs 155 crore compared to Rs 170 crore in Q4FY23 EBITDA stood at Rs 67 crore compared to Rs 51 crore in Q4FY23 Profit before Tax (PBT) stood at Rs 44 crore compared to Rs 22 crore in Q4FY23 Profit After Tax (PAT) stood at Rs 40 crore compared to Rs 16 crore in Q4FY23 FY24 Financial Highlights: Net Revenues stood at Rs 705 crore compared to Rs 717 crore in FY23 EBITDA stood at Rs 309 crore compared to Rs 293 crore in FY23 Profit before Tax (PBT) stood at Rs 180 crore compared to Rs 156 crore in FY23 Profit After Tax (PAT) stood at Rs 169 crore compared to Rs 124 crore in FY23 Net Debt stood at Rs 751 crore as on 31 st March ‘24 Balance collections from sold units (completed + Ongoing) in all launched projects stood at Rs 804 crore. Total Pending Estimated Project cost to be incurred stands at Rs 957 crore. Total estimated revenue from unsold inventory stands at Rs 1,577 crore Commenting on the Company’s performance, Chetan Shah, Chairman & Managing Director, Marathon NextGen Realty Limited, said, “The performance during the quarter was slightly muted on the revenue front due to lower offtake in the commercial segment. However, we continued to make significant progress on the margin front on the back of our ongoing cost initiatives and increase in prices. We delivered robust performance for the full year which underscores our strategic agility as we navigate the dynamic real estate market across various regions of Mumbai. We have successfully expanded our portfolio, enhanced our operational efficiencies, and delivered innovative solutions that resonate with our customers' demands. The cumulative results of FY24 illustrate a robust and growing company, marked by increased profitability and a strengthened balance sheet underscoring the robustness of our business model and the effectiveness of our strategic initiatives. These accomplishments are a direct outcome of our strategic efforts, the dedication of our team, and the trust our customers place in us. As we move forward, we are well-positioned to capitalize on emerging opportunities, advancing our expansive pipeline of projects designed to meet the evolving needs of our customers across the value chain, from affordable to luxury segments. We are deeply grateful for the continued support of our stakeholders as we strive to achieve our growth objectives.”

Q1FY24 Quarterly Result Announced for Marathon Nextgen Realty Ltd.

Marathon Nextgen Realty announced Q1FY24 results: Net revenues stood in Q1FY24 stood at Rs 210 crore as compared to Rs 98 crore in Q1FY23 EBITDA in Q1FY24 stood at Rs 80 crore as compared to Rs 47 crore in Q1FY23 Profit before Tax in Q1FY24 stood at Rs 45 crore as compared to Rs 15 crore in Q1FY23 Profit after tax in Q1FY24 stood at Rs 43 crore as compared to Rs 12 crore in Q1FY23 Net debt stood at Rs 832 crore as on June 30, 2023 As on June 30, 2023: Balance collections from sold units (completed + ongoing) in all launched projects stood at Rs 592 crore Total pending estimated Project cost to be incurred stands at Rs 1,025 crore Total estimated revenue from unsold inventory stands at Rs 1,904 crore Commenting on the Company's performance, Chetan Shah, Chairman & Managing Director, Marathon NextGen Realty, said, "We are delighted to announce robust quarterly results driven by a favourable demand landscape leading to pick up in sales booking across our projects. We remain committed to sustained improvement in our financial performance and continue to focus on increasing sales momentum, enhancing collection efficiency, generating robust cash flow, and reducing debt. The ongoing consolidation within the real estate sector, coupled with the reduction in inventory levels signals a promising landscape. These trends point towards a sustained positive trajectory in the real estate cycle, characterized by escalated prices and absorption rates amidst constrained supply. With a resounding performance in the first quarter, we are confident of achieving new milestones going forward and we remain positive on the future outlook supported by our healthy launch pipeline and access to vast land parcel across Mumbai Metropolitan Region (MMR) for development.”