MARATHON NEXTGEN REALTY LTD
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BSE Code:
503101
NSE Code:
MARATHON
Business Profile
Business Profile
Marathon Nextgen Reality (MARATHON), incorporated on Jan. 13, 1978, is engaged in developing real estate mainly in and around Mumbai. Earlier known as Marathon Nextgen Reality & Textiles, it got its present name with effect from Sep. 07, 2007. The company is part of the Marathon group, known for pioneering the concept of low-risk, high-return land bank concept in India. The group, which also includes Marathon Realty, has successfully developed mill land properties in Mumbai such as Piramal Spinning and Weaving mill - Marathon Nextgen, Jay Bharat Oil mill - Marathon Heights and Mafatlal mills - Marathon FutureX. Marathon Realty is the flagship company. The group???s ongoing projects valued at Rs 2,000 million are spread over 2.8 million sq. ft. in Mumbai.
Focus is on developing residential and commercial properties. Some of the current projects include Innova, the recently completed state-of-the-art commercial complex; Emperor, a stand-alone office block leased to a premier financial institution over an elongated period; and Era, where Tower I and Tower IV are nearing completion. The company leases out substantial portions of its commercial properties.
Looking into the future, the company entered into a joint venture for developing a large area in the highly prestigious Bangalore-Hosur highway. It has invested in two special purpose vehicles to develop projects in South Mumbai and the Western Suburbs. An agreement has been entered into for development of property in Bangalore on the basis of a joint venture agreement with the owner of the land.
Marathon NextGen Innova has won the award The Best Commercial Project of the Year 2006-2007 by Accommodation Times. In FY08, the company entered into a strategic alliance to set up a software technology park within the premises. Approximately 51,000 sq. ft. has been leased out to top-end clients. It is a 40% stakeholder through special purpose vehicles to develop large tracts of prime property in South Mumbai and the western suburbs.
The registered office is located at Marathon Nextgen, Ganpatrao Kadam Marg, Mumbai-400013.
Financials
Marathon Nextgen Realty registered a 84.08% growth in net profits to Rs 52.83 million for the quarter ended June 2008 from a profit of Rs 28.7 million for the quarter ended June 2007.
Net sales increased 3.46 times to Rs 215.1 million for the quarter ended June 2008 from Rs 62.23 million for the quarter ended June 2007.
Total income rose 215.26% to Rs 276.89 million for the quarter ended June 2008 from Rs 87.83 million for the quarter ended June 2007.
The earnings per share (EPS) of the company stood at Rs 4.18 for the quarter ended June 2008.
Recent Developments
27-JUN-08
The Marathon Group announced its 26-acre Nexzone, an IT/ ITES special economic zone near the proposed international airport at Navi Mumbai. The upcoming SEZ is the part of Marathon Group`s total 100 acre project, which would be completely eco-friendly with LEED certification. In phase I, 3 million sq. ft. of high-end IT spaces residential, retail and hospitality space would be developed on 26 acres of land with an investment of Rs 9 billion. The total project value of phase I is expected to be Rs 18 billion. The project will have 250,000 sq. ft. of retail space and a 3-4 star service apartment-cum-hotel.