Marathon Nextgen Realty

MARATHON · NSE

— · —

₹384.9

Closing price — 29 Sept 2026

Market cap ₹1,771 Cr · EPS ₹6.84

Valuation

Blended fair value using DCF and peer comparison methods.

See if Marathon Nextgen Realty is undervalued

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Moderately cyclical company. Peer comparison weighted higher than DCF.

The intrinsic value shown is an algorithmic estimate based on publicly available financial data — including DCF analysis, peer comparison, and historical financials. It is not a research report, investment advice, or a recommendation to buy, sell, or hold any security. Stock valuations involve uncertainty and may differ significantly from market prices. Please consult a SEBI-registered investment adviser before making any investment decision.

Peer comparison

How this company stacks up against sector peers on valuation and quality metrics.

Real estate development · 8 peers · sector medians shown

Better than medianWorse than median

Company	Mkt Cap	P/E	P/B	EV/EBITDA	ROE	Net Margin	Rev CAGR 3y
Marathon Nextgen Realty MARATHON · you	₹1,881 Cr	11.7×	1.1×	13.1×	8.9%	40.9%	-11.5%
Sector median	—	33.9×	3.1×	23.5×	6.2%	6.3%	20.8%
Sobha SOBHA	₹13,903 Cr	71.9×	3.0×	46.1×	4.1%	3.7%	16.2%
Aditya Birla Real Estate ABREL	₹13,386 Cr	—	3.6×	—	-2.8%	-25.3%	-52.6%
Signatureglobal India SIGNATURE	₹11,339 Cr	10.4×	6.1×	10.8×	59.2%	42.2%	18.7%
Max Estates Limited MAXESTATES	₹7,929 Cr	569.5×	3.0×	—	0.5%	6.3%	22.9%
Sri Lotus Developers and Realty Limited LOTUSDEV	₹7,695 Cr	34.5×	4.5×	23.5×	12.4%	30.8%	66.4%
Mahindra Lifespace Developers Limited MAHLIFE	₹6,164 Cr	26.3×	2.3×	—	8.2%	25.3%	24.8%
VALOR ESTATE LIMITED DBREALTY	₹6,078 Cr	84.3×	1.1×	—	1.3%	—	—
Puravankara Limited PURVA	₹5,194 Cr	33.2×	3.1×	—	9.5%	0.0%	—

Peer comparison verdict

Marathon trades at a discount to sector peers on P/E (11.0× vs median 33.9×). This may signal undervaluation — or reflect lower expected growth or higher perceived risk versus the peer group.

Business quality

Valuation

P/E ratio

11.0×

P/B ratio

—

EV/EBITDA

—

Price/Sales

—

Returns

ROE

8.9%

ROCE

4.8%

ROA

—

Growth

Revenue CAGR (3yr)

-11.5%

EPS CAGR (3yr)

18.8%

Efficiency

Asset turnover

—

FCF yield

-3.3%

Dividend yield

0.3%

Liquidity & Solvency

Debt / Equity

0.04×

Debt / EBITDA

—

Interest coverage

9.2×

Current ratio

4.87×

Quick ratio

—

Financial health

Piotroski F-Score, Altman Z-Score, and key solvency ratios.

Financial health data is not yet available for this company.

Full financial data

Charts and annual statements for income, balance sheet and cash flow.

Income trend

Revenue, profit and margin trends over time.

Revenue

Net profit

Operating margin

Net margin

Revenue

₹496 Cr

Net profit

₹203 Cr

Operating margin

—

Net margin

40.9%

Revenue and net profit in ₹ Crores (left axis). Margins % on right axis.

Cash flow

Where cash comes from and where it goes.

Operating CFInvesting CFFinancing CFFree cash flow

Operating CF — Cash earned from running the business. The core engine of financial health.

Investing CF — Cash spent on assets and equipment. Negative is normal — it means the company is investing in growth.

Financing CF — Cash from borrowing or repaying loans and dividends. Negative means debt is being repaid.

Free cash flow — Operating CF minus capex. Cash left after keeping the business running. Positive and growing is ideal.

Operating CF

-₹54.16 Cr

Investing CF

₹0 Cr

Financing CF

₹0 Cr

Free cash flow

-₹57.53 Cr

Balance sheet

Assets show what the company owns. Liabilities show what it owes. Equity is what's left for shareholders.

How the company is funded — equity is owners' money, debt is long-term borrowing, current liabilities are short-term obligations.

Equity

Debt

Current liabilities

Total assets

—

Total debt

₹86 Cr

Equity

₹2,275 Cr

Debt / Equity

0.04×

Numbers are illustrative — order-of-magnitude correct. For precise figures, refer to the company's annual report on BSE/NSE.

Shareholding pattern

Who owns this company and how that has changed.

What shareholding tells you: When promoters (founders/controlling shareholders) increase their stake, it usually signals confidence in the business. Rising FII (foreign funds) interest means international money is moving in. High promoter pledge is a risk — pledged shares can be force-sold if the stock price falls sharply.

Latest quarter

Promoter

56.4%

+0.0 pp QoQ

FII

4.7%

-0.4 pp QoQ

DII

14.7%

-0.0 pp QoQ

Retail

24.2%

Trend over time (%)

Quarterly data

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Change (YoY)
Promoter	73.5%	73.7%	73.7%	73.6%	73.6%	73.6%	73.6%	73.6%	55.9%	55.9%	56.4%	56.4%	-17.2 ppYoY
FII (Foreign)	2.3%	1.6%	0.6%	0.4%	3.1%	2.3%	2.3%	0.9%	6.9%	5.1%	5.1%	4.7%	+3.7 ppYoY
DII (Domestic)	0.0%	0.1%	0.0%	0.8%	1.6%	2.5%	2.4%	2.3%	15.6%	14.4%	14.7%	14.7%	+12.4 ppYoY
Retail	24.2%	24.7%	25.8%	25.2%	21.6%	21.6%	21.7%	23.1%	21.6%	24.6%	23.8%	24.2%	+1.1 ppYoY

Signals from the trend

📉

PromoterDown 17pp — worth monitoring for further declines

📈

FIINet buyers (+2.3pp) — foreign institutional interest is growing

📈

DIINet buyers (+14.7pp) — domestic funds are accumulating

Mixed signals — FII buying and DII buying on the positive side, but promoter selling adds uncertainty.

pp = percentage points. FII = Foreign Institutional Investors. DII = Domestic Institutional Investors (MFs, insurance). Data sourced from NSE/BSE filings. Verify on BSE/NSE before any investment decision.