Marathon Nextgen Realty Limited (MARATHON) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Marathon Nextgen Realty Limited ₹212, price ₹388, upside -45.3%, quality 28 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Marathon Nextgen Realty Limited for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.
How to read this chart
60‑month range ₹64.57 – ₹760.00 · fair‑value band ₹208.87 – ₹233.13 · the ₹388.10 price screens above the ₹212.34 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.
Follow Marathon Nextgen Realty in your weekly email
Every Wednesday you see whether Marathon Nextgen Realty is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
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 Pvt. Ltd.
Stock analysis
Marathon Nextgen Realty Limited (MARATHON) currently trades at ₹388.10, while our model-based Fair Value estimate is ₹212.34, 45.3% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the Multiples group reads highest at a median of ₹397.13 per share, and 3 of the 9 models we run sit above the ₹388.10 price.
Bear case: the Asset-Based group reads lowest at ₹226.06, and 6 of the 9 models stay below the price. Evidence for this calculation is medium.
Scenario range: ₹208.87 (bear) to ₹233.13 (bull), the price of ₹388.10 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 28/100 (below-average quality), in the Real Estate sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Marathon Nextgen Realty Limited reported revenue of ₹5.0B in FY2026 versus ₹3.1B in FY2022, a compound +12.8%/yr. Reported net income was ₹2.0B in FY2026, compounding +51.5%/yr from FY2022. FY2022 was a trough year, so the rate overstates the trend.
Key figures
Market cap ₹28.2B (≈ $293M) · P/E ratio 12.7 · P/S ratio 5.19 · EPS (TTM) ₹30.60 · Dividend yield 0.3% · Net margin 40.9% · Return on equity 11.7% · Return on assets (EBIT) 8.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 38 out of 100 (medium confidence).
What moves the price
The share trades about 41% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at 6% fair-value upside, at −45%, MARATHON screens richer than that median.
Fair Value models
Bear ₹208.87Fair Value ₹212.34Bull ₹233.13
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹15.00 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−26.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−11.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.3%
Start year 2021 (pandemic)
Revenue growth 19 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.7%
’13
’14
’15
’17
’19
’20
’21
’22
’23
’24
’25
’26
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+42.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year+42.3%
Dividend (yield on the price)0.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.42.3% vs 8.7%, picking up
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.32% → 24%
Compare Marathon Nextgen Realty Limited with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Real Estate - Development · 569 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score27 · Bottom 25%
Fair Value upside−45.3% · Bottom 25%
Profitability
Return on equity (TTM)11.7% · Top 25%
Return on assets3.1% · Above median
Net margin (TTM)40.9% · Top 25%
Operating margin (TTM)21.6% · Above median
Growth and dividend
Revenue growth−23.6% · Below median
Dividend yield (TTM)0.3% · Bottom 25%
Balance sheet
Debt / equity0.04× · Lowest 25%
Valuation Multiplesvs Real Estate - Development median · lower = cheaper
P/E (TTM)12.7× · Pricier than median
P/B1.24× · Priciest 25%
P/S (TTM)5.69× · Priciest 25%
EV/EBITDA22.9× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 72
FUTURE (revenue growth)0· sector 0
PAST (return on equity)47· sector 11
HEALTH (low debt)98· sector 84
DIVIDEND (yield)5· sector 58
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Marathon Nextgen Realty Limited (MARATHON) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹212.34 versus a price of ₹388.10, about −45% upside (overvalued).
What is the fair value of MARATHON?
Our model-based fair value for Marathon Nextgen Realty Limited is ₹212.34 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹388.10.
What is the quality score of MARATHON?
Marathon Nextgen Realty Limited has a Quality Score of 28/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Marathon Nextgen Realty Limited (MARATHON)?
Our model-based price target is the fair value of ₹212.34 (as of Sep 27, 2026) from 9 valuation models. Cautious scenario ₹208.87, optimistic scenario ₹233.13. It is a calculation from audited fundamentals, not an analyst target.
What is the Marathon Nextgen Realty Limited stock forecast for 2026?
Our models put fair value at ₹212.34, about −45% upside versus a price of ₹388.10 (overvalued). Cautious scenario ₹208.87, optimistic scenario ₹233.13. The calculation is refreshed regularly with new filings.
What is the revenue of Marathon Nextgen Realty Limited (MARATHON)?
Marathon Nextgen Realty Limited reported trailing-twelve-month revenue of about ₹5.0B (latest available figure, as of Sep 27, 2026).
Does Marathon Nextgen Realty Limited pay a dividend?
Marathon Nextgen Realty Limited currently shows a dividend yield of about 0.26% relative to its recent price (as of Sep 27, 2026).
What is the intrinsic value of Marathon Nextgen Realty Limited (MARATHON)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Marathon Nextgen Realty Limited it is ₹212.34 per share (as of Sep 27, 2026), against a price of ₹388.10. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is Marathon Nextgen Realty Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, MARATHON trades above its calculated fair value: price ₹388.10, fair value ₹212.34, a gap of about −45% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MARATHON?
No. The price is what the market pays today (₹388.10); the fair value is what the company's own numbers justify (₹212.34). For Marathon Nextgen Realty Limited the two are ₹175.76 per share apart. That gap is exactly why we show both numbers side by side.
How much is Marathon Nextgen Realty Limited worth?
The market values Marathon Nextgen Realty Limited at about ₹28.2B (market capitalisation, as of Sep 27, 2026). Per share that is ₹388.10; our models calculate a fair value of ₹212.34 per share.
What do the bullish and bearish scenarios say about MARATHON?
Our models span a range for Marathon Nextgen Realty Limited: cautious scenario ₹208.87, base ₹212.34, optimistic ₹233.13 per share (as of Sep 27, 2026, price ₹388.10). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MARATHON?
Marathon Nextgen Realty Limited trades at a price-to-earnings ratio of 12.7 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹212.34 is built from several models across several years. Other multiples: P/B 1.2, P/S 5.7, EV/EBITDA 22.9.
How solid is the balance sheet of Marathon Nextgen Realty Limited (MARATHON)?
Balance-sheet figures for Marathon Nextgen Realty Limited (as of Sep 27, 2026): return on equity 11.7%, debt of 0.04 per unit of equity. They feed the Quality Score of 28/100, which measures business quality independently of the share price.
How far is MARATHON from its 52-week high?
Marathon Nextgen Realty Limited trades at ₹388.10, about 41% below its 52-week high of ₹662.95 and 12% above the low of ₹346.85 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹212.34 is for.
Which stocks are comparable to Marathon Nextgen Realty Limited?
From the same area (Real Estate) we also value Sun Hung Kai Properties Limited, China Resources Land Limited, CK Asset Holdings, Hongkong Land Holdings, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Marathon Nextgen Realty Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹388.10, calculated fair value ₹212.34 (−45%), Quality Score 28/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MARATHON calculated?
We run Marathon Nextgen Realty Limited through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹212.34, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Marathon Nextgen Realty Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Marathon Nextgen Realty Limited (MARATHON)?
The closing price on Oct 1, 2026 was ₹388.10. Our model-based fair value is ₹212.34, about −45% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Marathon Nextgen Realty Limited right now?
The price sits above even our optimistic bull case (₹233.13). The favourable scenario is already priced in. Weak quality (28/100) and above fair value at the same time, the margin of safety is missing on both counts. The models converge in a tight band (₹208.87 to ₹233.13), unusually little disagreement for a valuation. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Where does the earnings growth of Marathon Nextgen Realty Limited (MARATHON) come from?
Earnings per share at Marathon Nextgen Realty Limited grew +12.4 % a year from 2015 to 2026. Broken into its drivers: revenue per share +26.9 %, EBIT margin −10.0 %, tax rate +0.7 %, residual (interest, one-offs) −2.3 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Marathon Nextgen Realty Limited
How large is the market capitalisation of Marathon Nextgen Realty Limited (MARATHON)?
The market capitalisation of Marathon Nextgen Realty Limited is ₹28.2B (≈ $293M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Marathon Nextgen Realty Limited (MARATHON)?
The price-to-sales ratio of Marathon Nextgen Realty Limited is 5.19 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Marathon Nextgen Realty Limited (MARATHON)?
Earnings per share at Marathon Nextgen Realty Limited are ₹30.60 (price ÷ EPS = P/E 12.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Marathon Nextgen Realty Limited (MARATHON)?
The dividend yield of Marathon Nextgen Realty Limited is 0.3% (payout 3.3%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Marathon Nextgen Realty Limited (MARATHON)?
The net margin of Marathon Nextgen Realty Limited is 40.9% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Marathon Nextgen Realty Limited (MARATHON)?
The return on equity (ROE) of Marathon Nextgen Realty Limited is 11.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Marathon Nextgen Realty Limited (MARATHON)?
On an EBIT basis the return on assets of Marathon Nextgen Realty Limited is 8.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Marathon Nextgen Realty Limited (MARATHON)?
The operating margin of Marathon Nextgen Realty Limited is 21.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Marathon Nextgen Realty Limited (MARATHON)?
Revenue at Marathon Nextgen Realty Limited is growing −23.6% versus a year earlier (3y avg −11.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Marathon Nextgen Realty Limited (MARATHON)?
Earnings per share at Marathon Nextgen Realty Limited are growing −36.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Marathon Nextgen Realty Limited (MARATHON) generate?
The free cash flow of Marathon Nextgen Realty Limited is −₹635M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Marathon Nextgen Realty Limited (MARATHON) hold?
Marathon Nextgen Realty Limited holds more cash than debt, ₹353M net (fiscal year 2026). The company holds more cash than debt, a safety cushion.
Free · no account needed
Watch Marathon Nextgen Realty Limited in the live analysis
One click puts Marathon Nextgen Realty Limited on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
