Marathon Nextgen Realty Limited has informed the Exchange regarding Outcome of Board meeting held on August 11, 2025.
MARATHON · price
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On the reaction day the stock moved 3.7 pts less than Nifty Microcap 250 and 3.3 pts less than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Marathon Nextgen Realty's board approved its Q1 FY26 (ended June 30, 2025) unaudited financial results. On a standalone basis, revenue from operations fell sharply to ₹2,392.58 lakhs from ₹7,607.46 lakhs a year ago, but net profit jumped to ₹4,187.22 lakhs from ₹2,353.74 lakhs, driven by a sharp rise in other income (₹4,909 lakhs vs ₹636 lakhs). On a consolidated basis, revenue from operations dipped to ₹14,081 lakhs from ₹16,221 lakhs, while net profit rose to ₹6,157 lakhs from ₹3,780 lakhs, with EPS at ₹11.69 vs ₹7.22. The company also confirmed successful completion of its QIP, raising ₹89,999.99 lakhs (~₹900 Cr) by allotting 1.62 crore equity shares at ₹555.13 each on July 1, 2025, with promoter holding falling from 73.63% to 55.92%. The board approved amendments to the Composite Scheme of Amalgamation to reflect revised share/entitlement ratios post-QIP, while the 48th AGM was scheduled for September 24, 2025.
The headline PAT growth is largely optical, fueled by a spike in 'other income' tied to the QIP proceeds, while core real estate revenue actually declined sharply on a standalone basis. Shareholders should view the ₹900 Cr QIP as a balance sheet strengthening, but the underlying operating weakness in standalone revenue is a concern. The dilution from QIP (promoter stake dropped from ~74% to ~56%) is a near-term overhang for minority shareholders.