Marathon Nextgen Realty Limited (MARATHON) AI Stock Analysis

• Market Cap: ₹33.96B
• Dividend Yield: 0.19%
• Average Volume (3M): 20.17K
• Price to Earnings (P/E): 12.2
• Beta (1Y): 2.21
• Revenue Growth: -21.43%
• EPS Growth: 18.96%
• Country: IN
• Employees: 800
• Sector: Real Estate
• Sector Strength: 53
• Industry: Real Estate - Development
• EPS (TTM): 9.80
• Shares Outstanding: 67,420,550
• 10 Day Avg. Volume: 25,371
• 30 Day Avg. Volume: 20,167
• PEG Ratio: 2.38
• Price to Book (P/B): 2.17
• Price to Sales (P/S): 3.81
• P/FCF Ratio: -89.90
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: ₹531.00 ▲(0.48% Upside)

Marathon Nextgen Realty Limited's overall stock score is primarily driven by its strong financial performance, particularly in profitability and operational efficiency. However, technical indicators suggest a bearish trend, and the low dividend yield may not appeal to all investors. The absence of earnings call data and corporate events limits additional insights.

Positive Factors

Margin improvement

Sustained increases in gross and EBIT margins reflect durable operational improvements and disciplined cost control. Over the medium term this boosts cash generation per unit of revenue, strengthens resilience to market cycles, and funds reinvestment or deleveraging without relying solely on external capital.

Strong return on equity

Robust ROE indicates efficient use of shareholder capital and strong project returns typical of successful developers. Persistently high ROE supports internal funding of new projects, attracts investor capital, and enables capital allocation that can sustain growth and shareholder value over the next several quarters.

Improving free cash flow conversion

An improving free cash flow to net income ratio signals progress in converting accounting profits into real cash. If sustained, this reduces reliance on external financing, improves liquidity for project execution, and enhances the company's ability to fund operations and growth through cycles over the medium term.

Negative Factors

Falling revenue

A ~21% decline in revenue is a material structural headwind; shrinking top-line undermines scale and operating leverage for a developer. Over multiple quarters this can restrict project launches, reduce contractual inflows, and force higher reliance on margin recovery or external funding to maintain growth plans.

Weak cash conversion of profits

Operating cash flow lagging net income indicates persistent difficulty turning profits into liquidity. For a real estate firm this raises the risk of funding gaps for project completion, increases dependence on debt or pre-sales, and heightens refinancing and execution risk during slower market periods.

High reliance on liabilities / leverage

Although debt-to-equity has been decreasing, the balance sheet still shows significant reliance on liabilities. Elevated leverage increases interest burden and sensitivity to rate moves, constraining strategic flexibility and amplifying downside risk if sales or cash inflows weaken over coming quarters.

Marathon Nextgen Realty Limited Business Overview & Revenue Model

Company Description

Marathon Nextgen Realty Limited engages in the construction, development, and sale of commercial and residential real estate projects in India. The company was founded in 1969 and is based in Mumbai, India. Marathon Nextgen Realty Limited is a subsidiary of Marathon Realty Private Limited.

How the Company Makes Money

Marathon Nextgen Realty Limited generates revenue through multiple streams within the real estate sector. Key revenue sources include rental income from its portfolio of residential and commercial properties, which provides a steady cash flow. The company also benefits from property sales, capitalizing on appreciation in real estate values. In addition, MARATHON may engage in property management services, charging fees for managing third-party properties. Significant partnerships with local developers and investors allow MARATHON to expand its investment opportunities and enhance its asset base, further contributing to its revenue. Additionally, strategic collaborations in joint ventures for development projects can lead to profit-sharing arrangements, boosting overall earnings.

Marathon Nextgen Realty Limited Financial Statement Overview

Summary

Marathon Nextgen Realty Limited has shown strong profitability and efficiency in its income statement, with improving margins and cost controls. The balance sheet reflects some concerns regarding leverage, although returns on equity are strong. Cash flow management presents challenges, particularly in converting net income into cash, but signs of improvement are present. Overall, the company is on a positive trajectory but must address leverage and cash flow conversion to enhance financial stability.

Income Statement

Marathon Nextgen Realty Limited has demonstrated strong performance in its income statement. The company has shown a consistent increase in gross profit margin and EBIT margin over the years, indicating effective cost management and operational efficiency. Despite a decline in revenue growth rate in the most recent period, net profit margins have been improving, reflecting enhanced profitability.

Balance Sheet

The balance sheet reveals a moderate financial position. The debt-to-equity ratio has been decreasing, showing improved leverage management, though it remains relatively high. The company's return on equity is robust, indicating effective utilization of shareholder funds. However, the equity ratio suggests a significant reliance on liabilities, which could pose future risks.

Cash Flow

The company's cash flow statement indicates mixed results. While the free cash flow growth rate has been inconsistent, the operating cash flow to net income ratio suggests challenges in converting income into cash. However, the free cash flow to net income ratio is improving, highlighting some positive cash generation trends.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	5.59B	6.76B	7.01B	7.17B	3.06B	2.06B
Gross Profit	2.08B	3.20B	2.81B	2.89B	1.16B	847.01M
EBITDA	2.47B	2.70B	2.75B	2.77B	1.13B	814.21M
Net Income	2.09B	1.87B	1.66B	1.21B	385.20M	151.91M
Balance Sheet
Total Assets	0.00	20.97B	22.39B	21.53B	21.39B	17.00B
Cash, Cash Equivalents and Short-Term Investments	181.41M	917.97M	103.51M	351.11M	168.95M	376.35M
Total Debt	0.00	5.60B	7.61B	8.69B	10.87B	7.39B
Total Liabilities	-12.03B	8.95B	12.31B	13.60B	14.84B	10.85B
Stockholders Equity	12.03B	11.87B	9.96B	7.85B	6.49B	6.09B
Cash Flow
Free Cash Flow	0.00	-286.53M	206.40M	3.86B	748.46M	-1.08B
Operating Cash Flow	0.00	-253.14M	221.01M	3.86B	763.34M	-1.09B
Investing Cash Flow	0.00	2.98B	1.12B	-459.62M	-3.75B	-26.38M
Financing Cash Flow	0.00	-2.65B	-1.55B	-3.26B	2.73B	1.44B

Marathon Nextgen Realty Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 528.45
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:MARATHON, the sentiment is Negative. The current price of 528.45 is above the 20-day moving average (MA) of 501.90, above the 50-day MA of 525.21, and below the 200-day MA of 583.83, indicating a bearish trend. The MACD of -8.00 indicates Negative momentum. The RSI at 44.45 is Neutral, neither overbought nor oversold. The STOCH value of 69.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:MARATHON.

Marathon Nextgen Realty Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	65 Neutral	$2.17B	12.19	3.79%	4.94%	3.15%	1.96%
MARATHON	64 Neutral	₹33.96B	12.21	―	0.19%	-21.43%	18.96%
ARVSMART	63 Neutral	₹24.20B	26.08	―	0.98%	13.62%	34.30%
KOLTEPATIL	57 Neutral	₹32.45B	42.91	―	1.01%	3.05%	―
ASHIANA	56 Neutral	₹29.18B	40.81	―	0.85%	24.58%	122.16%
HUBTOWN	55 Neutral	₹29.07B	22.53	―	―	64.29%	―
UNITECH	40 Underperform	₹11.09B	-0.55	―	―	-10.36%	46.24%