The shares of the real estate company gained up to 9 percent after the company’s sales volume increased by 23 percent on a year-on-year basis over the corresponding period of last year.
With a market capitalization of Rs 2,014.13 per share, the shares of Marathon Nextgen Realty Ltd were trading at Rs 428.80 per share, increasing around 3.59 percent as compared to the previous closing price of Rs 413.95 apiece.
According to the corporate filing, Marathon Nextgen Realty Ltd’s area sold was 2,21,862 sq. ft., up 24 percent year on year over the same time the previous year, and sales value was Rs 370 crores, up 23 percent YoY.
Looking at Marathon Nextgen Realty Ltd’s performance, revenue declined by 24 percent, from Rs 174 crore in Q2FY23 to Rs 129 crore in Q2FY24. During the same period, net profit climbed by 112 percent, from Rs 16 crore to Rs 34 crore.
The business has over 52 years of real estate expertise and has completed more than 100 projects. MNRL has 4 million square feet of property under development and over 10,000 happy families.
The business has created Monte Plaza and Millennium in Mulund to meet the need for high-quality commercial space in a region where 16000 luxury residences are expected to be built in the next two years, as well as the metro, which will revolutionize the commercial landscape.
The company is rapidly ramping up executions and meeting the demand of many customers. Through the year, the company sold 4.53 lakh sq. ft. in volume and collections increased to Rs 548 Crore, against Rs 316 Crore in the previous year.
MNRL has concrete plans to launch 7.5 lakh sq. ft. through a mix of ongoing and new projects, with a value of approximately 1,000 crore. The has plans for the launch of Tower C in our coveted Monte South project.
Marathon Nextgen Realty Limited was established in 1978. It focuses on the building, development, and sale of commercial and residential real estate developments.
Written by:- Abhishek Singh
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