December 23, 2025: Samyag M. Shah, Director of Marathon Nextgen Realty Ltd, represents the third generation steering the family-led real estate enterprise, formerly known as Marathon Group. With over a decade of experience within the organisation, Shah is now leading the company’s next phase of growth, building on a legacy that spans more than 56 years. As he noted, “The foundations set by our predecessors and the benefits of their connections and legacy in the sector have helped us to take the organization forward from there.”
Highlighting the company’s financial restructuring, Shah said, “We are now a listed company as Marathon Nextgen Realty Ltd, and with the latest major fundraising, we have repaid around 350 Cr debt and are net debt-free as a listed entity.” He added that most projects are now consolidated under the listed entity, with only a few legacy developments nearing completion.
On market trends, Shah expressed confidence in Mumbai’s real estate outlook, driven by large-scale infrastructure upgrades. “Panvel has become a hub of real estate development, due to Atal Setu connectivity and the coming-up of Navi Mumbai airport,” he said, adding that Marathon’s township projects in Panvel and Bhandup are witnessing strong demand. Byculla, he noted, is also emerging as a luxury residential hotspot.
Discussing commercial real estate, Shah observed, “Both leasing and buying models of commercial property are showing a strong upward trajectory.” He pointed out that Grade A offices in areas like Lower Parel and Mulund are attracting steady interest as occupiers prefer workplaces closer to home.
Shah also spoke about evolving homebuyer expectations. “Customers today are not satisfied with just a good quality home,” he said, citing examples such as maintained clubhouses and a sky-level pool at Monte South in Byculla.
On innovation, he added, “We have successfully used AI in sales calling, which has shown great results leading to cost and time efficiencies.” Emphasising Mumbai’s dynamism, Shah concluded that infrastructure growth and regulatory reforms have made the sector more transparent and mature, adding, “The young generation of entrepreneurs has strong confidence in long-term demand and price stability of real estate across the country.”
