Marathon Nextgen Realty Acquires Adani Group's 60% Stake in Monte South

Marathon Nextgen Realty Limited (MNRL) has approved the acquisition of Adani Group's 60% stake in Monte South for approximately ₹335 crore. This transaction will increase Marathon's ownership in the Byculla, Mumbai development from 40% to 100%. Monte South is a large mixed-use project with residential towers and a commercial tower, representing approximately 25 lakh sq. ft. The acquisition aligns with Marathon's growth strategy to expand its development portfolio and enhance shareholder value. The Adani Group is exiting the project to focus on larger developments in the Mumbai Metropolitan Region.