Marathon Realty to acquire Adani Group's 60% stake in Monte South for ₹335 Cr
Marathon Nextgen Realty will acquire Adani Group's 60% stake in Monte South for ₹335 crore. This acquisition will give Marathon 100% ownership of the Byculla, Mumbai development, enhancing its development pipeline and growth prospects.
The acquisition of a substantial stake in a large mixed-use development will significantly impact the company's development pipeline, future revenue, and market position.
The acquisition is positive as it increases Marathon's ownership and control over a significant development, aligning with its growth strategy.
Marathon Nextgen Realty Limited's Board of Directors has approved the acquisition of Adani Group's 60% stake in Monte South for approximately ₹335 crore. This transaction will increase Marathon's stake in the Byculla, Mumbai development from 40% to 100%, granting it sole ownership and control.
Monte South is a significant mixed-use development featuring four 64-storey residential towers and a commercial tower, covering approximately 25 lakh sq. ft. The project includes completed residences, ongoing construction, and future development phases. Tower A has received its full Occupation Certificate (OC), while Tower B has OC up to the 45th floor. The RCC structure of Tower C is complete up to the 35th floor, and Tower D is yet to be launched.
The acquisition aligns with Marathon Nextgen's growth strategy, aiming to expand its business scale and strengthen its development portfolio. The company will continue to seek opportunities for growth and long-term shareholder value creation. The Adani Group is exiting its investment in Monte South to focus on larger developments in the Mumbai Metropolitan Region.
What to do with a filing like this
Marathon Nextgen Realty Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Marathon Nextgen Realty Limited. Read the original for the full detail.