Marathon Nextgen launches Rs 370 crore residential development in Bhandup

Marathon Nextgen Realty has announced the launch of three new residential towers in Bhandup, thereby expanding its Neohomes portfolio.

The launch includes a new residential project within the 6.5-acre Neo Park layout, spread across 5,100 square metres of land, offering a total saleable carpet area of nearly 1.2 lakh square feet with an estimated gross development value (GDV) of Rs 200 crore.

Alongside this, MNRL is introducing the second tower of Neovalley Narmada and the third tower of Neo Park Ashoka, together adding nearly 1 lakh sq. ft. of saleable carpet area with an additional GDV of Rs 170 crore.

In total, approximately 2.2 lakh square feet of residential space, with a combined GDV of Rs 370 crore, is being launched under the Neohomes category in Bhandup.

Marathon has already delivered over 700 Neohomes in Bhandup, with Neosquare receiving its OC and the next phase nearing completion.

Bhandup has rapidly emerged as a preferred residential hub in the eastern suburbs, supported by robust connectivity and infrastructure upgrades such as the GoregaonMulund Link Road and the upcoming Shangrila Metro Station. Its growing ecosystem of educational institutions, retail, healthcare, and commercial spaces further enhances its appeal for end-users and investors alike.

Kaivalya Shah, director, Marathon Nextgen Realty, said: We are excited to launch another project in Bhandup a location that has been integral to Marathons growth journey.

This new launch further strengthens our portfolio in the micro-market and reaffirms Marathons commitment to delivering modern, high-quality housing at scale.

Marathon Nextgen Realty is promoted by the Marathon group of Mumbai, Maharashtra. The Marathon group is engaged in real estate development across MMR. The Marathon group has completed over 100+ projects and has presence across Mumbai Metropolitan Region (MMR) with total of 8.4 million square feet completed projects and 6.2 million square feet of existing portfolio.

The company has reported 35% increase in consolidated net profit to Rs 67 crore despite 6% fall in total revenue to Rs 155 crore in Q2 FY26 as compared with Q2 FY25.

The scrip shed 0.28% to currently trade at Rs 583.65 on the BSE.

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