Marathon Nextgen Realty to Take Full Control of Monte South in ₹335 Crore Deal
Marathon Nextgen Realty Ltd has approved the acquisition of Adani Group’s 60% stake in the Monte South project in Byculla, Mumbai, in a total transaction valued at up to ₹335 crore. The deal will give Marathon full ownership and control of the mixed-use development, increasing its existing stake from 40% to 100%.
The acquisition involves an additional 60% interest in Swayam Realtors and Traders LLP (SRTL), the joint venture responsible for the project. Marathon's board approved the transaction on October 31, 2026.
The transaction structure includes cash consideration of up to ₹135 crore and a bank guarantee of ₹200 crore, taking the total stated commitment to ₹335 crore.
Monte South: A Major Byculla Development
Monte South is a large-scale mixed-use development spread across approximately 25 lakh sq ft. The project comprises four residential towers, each rising 64 storeys, alongside a commercial tower.
Its development includes completed residences, ongoing construction and future development across both residential and commercial components. The project offers further residential sales opportunities as well as the potential to monetise its commercial component.
Monte South was Adani Group's first premium real estate development in Mumbai. The group has since expanded its presence across the Mumbai Metropolitan Region (MMR), taking up several larger development opportunities.
Adani Group has decided to exit its investment in the project as it increasingly directs its resources and attention towards these larger opportunities.
Marathon's Growing Mumbai Portfolio
The acquisition will increase Marathon's economic interest in the project and its participation in the venture's future business activities and returns.
The Marathon Group was founded in 1969 by Ramniklal Zaverbhai Shah. It has completed more than 100 projects in Mumbai, covering townships, group housing and commercial developments.
Its ongoing projects are located in Lower Parel, Byculla and Mulund. The group also holds land banks in Bhandup, Thane, Dombivli and Panvel.
With the proposed acquisition, Marathon will gain complete control of a substantial residential and commercial development in one of Mumbai's established locations.
