Marathon Nextgen Realty Acquires Three Real Estate Entities with Projects Worth Over ₹840 Crore
Mumbai, April 1, 2026 – Marathon NextGen Realty Ltd. (MNRL) announced that its wholly-owned subsidiary, Nexzone IT Infrastructures Private Limited (NZIT), has acquired a 51% controlling interest in three real estate entities. These acquisitions unlock a combined Gross Development Value (GDV) of over ₹840 Crores and a Carpet Area of 5.94 lakh Sq.ft. across six residential projects in Kanjurmarg, Mumbai.The total aggregate consideration for the acquisitions amounts to approximately ₹70 crores. NZIT gains influence over ongoing project execution through the acquisition, enabling the Company to support vertical expansion and deepen its presence in the Mumbai Metropolitan Region.
Details of the Acquisitions
| Particulars | Details |
|---|---|
| Control Acquired | 51% controlling interest across all three entities (34% Stake) |
| Acquisition Cost | ₹70 Crores |
| Expected GDV of Projects | +₹840 Crores |
| Carpet Area | +5.94 Lakh Sq. Ft. |
| No of Projects | 6 Residential projects |
Approximately 35% of the projects under these acquisitions are either already under construction or positioned for launch within the next twelve months, providing near-term revenue visibility. Approximately 20% of the total project area has been earmarked as Permanent Transit Camp (PTC), allowing Marathon to construct and hand over completed units to the Slum Rehabilitation Authority (SRA) against requirements from developers in Vile Parle East, Andheri East, Jogeshwari East, and Goregaon East.
Marathon NextGen Realty Ltd., founded in 1969, has completed over 100 projects in Mumbai. The company focuses on design and engineering, led by a team of technocrats, including Chairman Mr. Chetan Shah, Vice-Chairman Mr. Mayur Shah, and heads of project Mr. Kaivalya Shah, Mr. Parmeet Shah, and Mr. Samyag Shah.
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