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Marathon Nextgen Realty Ltd logo

Marathon Nextgen Realty Ltd

NSE: MARATHON BSE: 503101

₹495.30

(2.07%)

Sat, 30 May 2026, 08:17 am

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Company History

1978

  • The company was incorporated on 13th January.
  • The Certificate of Commencement of Business was obtained on 9th February.
  • The company was promoted as an investment company under the name Mahadevi Investment Co., Ltd.
  • 20,000 shares were subscribed for by promoters and 30,000 shares were offered at par for public subscription during August.

1979

  • The amalgamation was sanctioned by the Mumbai High Court.
  • The name of the company was changed to Piramal Spg. & Wvg. Mills Ltd.
  • Authorised capital was reclassified.

1985

  • The company revalued the fixed assets of its mills at Mumbai and at Ambarnath as on 30th June.

1986

  • The company launched its third phase of modernisation programme at a capital outlay of Rs. 4 crores.

1989

  • The company finalised its fourth phase of modernisation programme involving a capital outlay of Rs. 298 lakhs.
  • Improvements were attributed to availability of adequate raw materials at reasonable prices.

1990

  • Most of the machinery required for the 4th phase of modernisation programme was installed.

1991

  • Niranjan Mills Ltd. was amalgamated with the Company.
  • 1,50,000 No. of equity shares were issued pursuant to a scheme of amalgamation.

1992

  • The company offered 9,04,837-17% secured redeemable partly convertible debentures of Rs. 100 each.
  • A portion of Rs. 50 of each debenture was converted into one equity share of Rs. 10 at a premium of Rs. 40 per share.

1993

  • The company considered disposal of the Lower Parel unit by shifting the machinery therein to the Ambernath unit.
  • 8,62,650 No. of equity shares of Rs. 10 each were allotted at a premium of Rs. 40 per share on part conversion of part A of 17% PCD.

1995

  • The company registered a marginal increase in sales volume.
  • The company submitted an application to the IFCI for a loan of Rs. 17 crores for modernisation of its spinning and weaving departments.

1996

  • The company faced problems due to sluggish market conditions and severe competition from the unorganised sector.

2000

  • The Company was declared as a Sick Company under Section 3 Clause (1)(o) of SICA.

2001

  • Crisil revised its rating in respect of the company's non-convertible part of PCDs from 'D' to 'not meaningful'.

2006

  • The equity shares of the Company were delisted from the Ahmedabad Stock Exchange Ltd (ASE).
  • Marathon Nextgen Realty gave a Bonus in the Ratio of 4:1.

2007

  • Marathon Nextgen Reality & Textiles Ltd appointed Mr. V Ranganathan, I.A.S. (Retd.), as an Additional Director of the Company.
  • The Company name was changed from Marathon Nextgen Realty & Textiles Ltd to Marathon Nextgen Realty Ltd.
  • The Company issued Bonus Shares in the Ratio of 2:1.

2008

  • Marathon Nextgen Realty Ltd appointed Dr. Samir K Barua as an Additional Director of the Company.

2009

  • Marathon Nextgen Realty Ltd appointed Mr. Padmanabha Shetty as Additional Director of the Company.

2010

  • Marathon Nextgen Realty Ltd declared an Interim Dividend @15%.
  • Marathon Nextgen Realty gave a Bonus in the Ratio of 1:2.
  • The Registered Office of the Company was shifted to Futurex, N.M. Joshi Marg, Nr. Lower Parel Railway Station (W.Rly), Lower Parel, Mumbai-400 013.

2011

  • Marathon Nextgen Realty Ltd declared an Interim Dividend @35%.

2012

  • Marathon Nextgen Realty Ltd recommended a Dividend of 6% on the Preference Share Capital and a dividend of 40% on the Equity Share Capital.

2013

  • The Board recommended a Dividend of Rs. 4.50 (45%) on equity share of Rs. 10/- each.

2014

  • The board recommended a Dividend of Rs. 5 (50%) on equity share of Rs. 10/- each.

2015

  • Marathon Nextgen informed about an investment in Parmeka Pvt Ltd.
  • The Company allotted Bonus Shares to its shareholders in the Ratio of 1:2.

2016

  • Marathon Nextgen Realty Ltd submitted a certified High Court Order along with a Scheme of Amalgamation of Parmeka Pvt. Ltd. with Marathon Nextgen Realty Ltd.
  • Marathon Nextgen Realty launched the project 'Monte South' Byculla, a JV Initiative.
  • Marathon Group entered into the Education Space.

2021

  • Marathon Bags the Developer of the Year Award at Estrade Real Estate Awards 2021.
  • Marathon Group launched new inventory in the Lower Parel flagship project.

2022

  • Marathon Group launched the final tower at Marathon Nexzone, its flagship township at Panvel.
  • Marathon Group launched phase 2 of the Kalyan-Shil township project.

2023

  • Marathon Group launched a new affordable housing project in Bhandup.

2024

  • The Company acquired Nexzone IT Infrastructure Private Limited, Nexzone Water Management Private Limited and Kanchi Rehab Private Limited.