Shares of Marathon Nextgen Realty Ltd soared 4% on 3 August after the company announced a new cluster redevelopment project in Sewri, Mumbai, with an estimated Gross Development Value (GDV) of Rs 450 crore.

The project marks the company’s entry into South Mumbai’s cluster redevelopment segment and strengthens its presence in one of the city’s fast-developing real estate markets. The project will be developed through the company’s wholly owned subsidiary, Sunset Spaces Private Limited, which has signed a joint development agreement for a 7,500 square metre land parcel.

The development will include premium residential apartments along with high-street retail spaces, subject to the necessary regulatory approvals.

Sewri has emerged as an attractive real estate destination following major infrastructure developments such as the Mumbai Trans Harbour Link (Atal Setu). Improved connectivity to Navi Mumbai and other parts of the city is expected to drive residential demand and support property values in the area.

The latest announcement follows Marathon Nextgen Realty’s strategy of expanding through redevelopment projects across Mumbai. The company has been steadily increasing its development pipeline by targeting locations with strong demand and infrastructure-led growth potential.

As the project progresses through approvals and construction, it could contribute to the company’s long-term growth while reinforcing its position in the city’s premium residential segment.

At 2:25 pm, the shares of Marathon Nextgen Realty were trading 3.79% higher at Rs 404.50 on the NSE.

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