Marathon Nextgen Q2 profit falls to ₹45 crore as pre-sales rise 79%

Marathon Nextgen Realty Limited reported a profit after tax of ₹45 crore for the quarter ended 30 September 2026 (Q2 FY27), in unaudited results announced on 22 October 2026. The Mumbai-based developer, listed on the NSE and BSE, said total revenue for the quarter was ₹145 crore and EBITDA was ₹61 crore. The board had approved the results on 21 October 2026.

The company's headline figures use total income and total profit. The filing shows revenue from operations of ₹128.95 crore and total consolidated income of ₹144.70 crore for the quarter. Net profit was ₹45.19 crore, of which ₹43.93 crore is attributable to owners of the company and ₹1.25 crore to non-controlling interest. Consolidated earnings per share were ₹6.70 on a face value of ₹5. For the half year ended 30 September 2026, the company reported total revenue of ₹362 crore, EBITDA of ₹127 crore and PAT of ₹98 crore.

Bookings rose, led by affordable and mid-income homes

Pre-sales, measured as registered booking value, were ₹154 crore in the quarter, 79% higher than the previous quarter, the company said. Collections were ₹127 crore. On a merged portfolio basis, which includes a 40% revenue share in the Monte South project in Byculla, booking value was ₹251 crore on 0.94 lakh sq ft sold, with collections of ₹202 crore.

Residential pre-sales grew 70% quarter on quarter. Within that, the affordable and mid-income portfolio rose 155%, while Monte South grew 16%. Chairman and Managing Director Chetan Shah said demand came from every price segment, from affordable homes to Monte South, and that the company is adding projects selectively in well-connected locations with no net debt. The company also said it was net debt-free with a positive net cash position as on 30 September 2026.

Income and profit were lower than in the June quarter

Against the previous quarter, the income figures are lower. For Q1 FY27 (quarter ended June 2026), the company reported consolidated total income of ₹217 crore, EBITDA of ₹66 crore and PAT of ₹52 crore. Q2 total income of ₹145 crore and PAT of ₹45 crore are therefore lower, even though bookings rose sharply.

Bookings and reported income are different measures. Income is recognised as projects progress or are handed over, so a rise in sales in one quarter does not always show up in revenue in the same quarter. Investors will want to see whether the booking growth carries into revenue in the coming quarters.

What investors will watch

• Board meeting on 27 October 2026 to consider new investments in projects or special purpose vehicles. An exchange filing summary says the board deferred its investment agenda, so the outcome of this meeting will show whether that pause continues.
• Redevelopment pipeline: the company has added two projects, in Versova and Sewri, with a combined estimated gross development value (GDV) of ₹900 crore. The company says this remains subject to statutory approvals, finalisation of development plans and market conditions.
• Earnings call: the company has rescheduled its earnings conference call for Q2 FY27.
• Commercial leasing: a financial services group expanded by about 45,000 sq ft at Marathon Futurex in Lower Parel, the company's office complex.

For buyers, the release gives no launch prices or unit details for the new projects. Any project-level terms will come from future approvals and launch announcements. For investors, the key test in the next quarter is whether sharply higher bookings turn into higher income and profit.