Marathon Nextgen Realty Limited has informed the Exchange about Acquisition by Nexzone IT Infrastructure Private Limited, WOS (wholly owned subsidiary) of the Company.
MARATHON · price
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Marathon Nextgen Realty's wholly owned subsidiary Nexzone IT Infrastructures (NZIT) has acquired a 51% controlling interest in three real estate entities for a combined Rs. 70 Crores in cash. The targets are DVK Developers (Rs. 22.48 Cr), Shree S S Developers (Rs. 40.27 Cr), and Shree Swami Samarth Builders, a partnership firm (Rs. 7.26 Cr). All three operate in real estate with ongoing projects in the Mumbai Metropolitan Region (MMR). The combined Gross Development Value (GDV) of these projects is expected to be over Rs. 840 Crores over the project lifecycle. The company says the acquisitions will support vertical expansion, business growth, and a wider customer base. None of these are related-party transactions.
This is a growth-oriented move that expands Marathon's project pipeline in MMR by over Rs. 840 Cr in GDV. For shareholders, it signals aggressive inorganic expansion in the core real estate business using a subsidiary, though near-term financials may see capital outflow without immediate revenue contribution.