Marathon Nextgen Realty Ltd — Earnings Release 2024

May 28, 2024

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Date: May 28, 2024

To BSE Limited, NSE Limited, Listing Department, Listing Department, P.J. Towers, Dalal Street, Exchange Plaza, Plot No. C/1, G Block, Mumbai – 400001. BKC, Bandra (East), Mumbai - 400051 Scrip Code: 503101 NSE Code: MARATHON

Sub: Press Release – Fourth Quarter and Year ended March 31, 2024.

Dear Sir/Madam,

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith a copy of the Press release on the Audited Financial Results (Standalone and Consolidated) of the Company for the Fourth Quarter and year ended March 31, 2024.

The copy of Press Release shall be uploaded on the Company's website viz., https://www.marathonnextgen.com/

This is for your information and record.

Yours Truly, Marathon Nextgen Realty Limited CHETAN Digitally signed by CHETAN RAMNIKLAL RAMNIKLAL SHAH Date: 2024.05.28 SHAH 19:39:57 +05'30' Chetan Shah Managing Director DIN: 00135296

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BSE: 503101 | NSE: MARATHON | ISIN: INE182D01020 | SECTOR: REAL ESTATE

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Quarterly Earnings Release | Q4 FY24

Mumbai, May 28, 2024: Marathon Nextgen Realty Ltd., one of the leading real estate company engaged in the development of residential and commercial projects, announces its financial results for the Fourth Quarter (Q4FY24) and Full Year (FY24) period ended March 31[st] , 2024.

• Recorded FY24 booking value of Rs. 817 crores, area sold stood at 5,61,475 sq. ft

• Robust Launch Pipeline of upcoming projects of 31.5 lakh sq. ft.

Commenting on the Company’s performance, Mr. Chetan Shah, Chairman & Managing Director, Marathon NextGen Realty Limited, said, “The performance during the quarter was slightly muted on the revenue front due to lower offtake in the commercial segment. However, we continued to make significant progress on the margin front on the back of our ongoing cost initiatives and increase in prices. We delivered robust performance for the full year which underscores our strategic agility as we navigate the dynamic real estate market across various regions of Mumbai. We have successfully expanded our portfolio, enhanced our operational efficiencies, and delivered innovative solutions that resonate with our customers' demands. The cumulative results of FY24 illustrate a robust and growing company, marked by increased profitability and a strengthened balance sheet underscoring the robustness of our business model and the effectiveness of our strategic initiatives. These accomplishments are a direct outcome of our strategic efforts, the dedication of our team, and the trust our customers place in us. As we move forward, we are well-positioned to capitalize on emerging opportunities, advancing our expansive pipeline of projects designed to meet the evolving needs of our customers across the value chain, from affordable to luxury segments. We are deeply grateful for the continued support of our stakeholders as we strive to achieve our growth objectives.”

Operational Highlights for Q4FY24*

• Area sold stood at 1,26,822 sq. ft.

• Booking value stood at Rs.175 crores

• Collections stood at Rs.188 crores

• Average Realization stood at Rs.17,651 per sq. ft. for commercial and Rs.11,086 per sq. ft. for Residential.

Operational Highlights for FY24*

• Area sold stood at 5,61,475 sq. ft.

• Booking value stood at Rs.817 crores

• Collections stood at Rs.695 crores

• Average Realization stood at Rs.19,069 per sq. ft. for commercial and Rs.12,209 per sq. ft. for Residential.

Consolidated Q4FY24 Financial Performance

• Net Revenues stood at Rs.155 crores compared to Rs.170 crores in Q4FY23

• EBITDA stood at Rs.67 crores compared to Rs.51 crores in Q4FY23

BSE: 503101 | NSE: MARATHON | ISIN: INE182D01020 | SECTOR: REAL ESTATE

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Quarterly Earnings Release | Q4 FY24

• Profit before Tax (PBT) stood at Rs.44 crores compared to Rs.22 crores in Q4FY23

• Profit After Tax (PAT) stood at Rs.40 crores compared to Rs.16 crores in Q4FY23

Consolidated FY24 Financial Performance

• Net Revenues stood at Rs.705 crores compared to Rs.717 crores in FY23

• EBITDA stood at Rs.309 crores compared to Rs.293 crores in FY23

• Profit before Tax (PBT) stood at Rs.180 crores compared to Rs.156 crores in FY23

• Profit After Tax (PAT) stood at Rs.169 crores compared to Rs.124crores in FY23

Net Debt

• Net Debt stood at Rs 751 crores as on 31[st] March ‘24

Cash Flows

As on 31[st] March ‘24,

• Balance collections from sold units (completed + Ongoing) in all launched projects stood at Rs.804 crores .

• Total Pending Estimated Project cost to be incurred stands at Rs.957 crores .

• Total estimated revenue from unsold inventory stands at Rs.1,577 crores.

*Based on 40% revenue share for Monte South project

About Marathon NextGen Realty Ltd.

For over 52 years now, Marathon Group has been helping shape Mumbai’s skyline. Founded in 1969 by Ramniklal Zaverbhai Shah, the Group has completed over 100 projects in the city with a portfolio encompassing townships, affordable housing, luxury residential, retail, small business spaces, and corporate parks. Marathon is design-driven and engineering-focused with a leadership team comprising of technocrats. Mr. Chetan Shah, Chairman& Mr. Mayur Shah, Vice-Chairman, have completed their engineering from US and the third generation of the company comprising of the three head of project –Mr. Kaivalya Shah, Mr. Parmeet Shah, and Mr. Samyag Shah are highly qualified having completed their education from US and bring years of real estate experience. Marathon has strong in-house capabilities in design, engineering, execution, marketing, and sales and prides itself on its transparency, customer-centricity and is among one of the most trusted Developers.

The Group has ongoing projects & land banks at Lower Parel, Byculla, Mulund, Bhandup, Thane, Dombivli and Panvel.

More information is available at https://www.marathonnextgen.com/

For further information, please contact:

	Mr. Kaivalya Shah Director - Marathon Nextgen Realty Limited P: +91 22 6724 8484 E:kaivalya.shah@marathonrealty.com	Binay Sarda /Nachiket Kale /Sumedh Desai Vice President/Senior Associate/Associate EY LLP Email:binay.sarda@in.ey.com; nachiket.kale@in.ey.com; Sumedh.desai@in.ey.com; M: +91 9920893764/9920940808/9869776652

BSE: 503101 | NSE: MARATHON | ISIN: INE182D01020 | SECTOR: REAL ESTATE

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Quarterly Earnings Release | Q4 FY24

DISCLAIMER :

Some of the statements in this communication may be ‘forward-looking statements within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the company’s operations include changes in the industry structure, significant changes in the political and economic environment in India and overseas, tax laws, duties, litigation, and labour relations.