Please find attached Transcript of Q2 & H1 FY27 earning conference call held on November 4, 2026

Date: November 11, 2026 BSE Limited, NSE Limited, Listing Department, Listing Department, P.J. Towers, Dalal Street, Exchange Plaza, Plot No. C/1, G Block, Mumbai – 400001. BKC, Bandra (East), Mumbai – 400051. Scrip Code: 503101 Symbol: MARATHON Sub: Transcript of Q2 & H1 FY27 - Earnings Conference Call Pursuant to Regulation 30 and Regulation 46(2) (oa) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of Q2 & H1 FY27 Earnings Conference Call held on November 4, 2026 at 1:15 p.m onwards (IST). The Transcript is also available on the Company’s website at https://marathon.in/nextgen/ Kindly take the same on record. Yours Truly, For Marathon Nextgen Realty Limited, Yogesh Patole Company Secretary and Compliance Officer M.No.:- A48777 “Marathon Nextgen Realty Limited Q2 & H1 FY27 Earnings Conference Call” November 04, 2026 “E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchange on November 04, 2026 will prevail.” MANAGEMENT: MR. CHETAN SHAH – CHAIRMAN AND MANAGING DIRECTOR MR. KAIVALYA SHAH – DIRECTOR MR. SAMYAG SHAH – DIRECTOR SGA – INVESTOR RELATIONS ADVISORS Page 1 of 10 Marathon Nextgen Realty Limited November 04, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Q2 and H1 FY27 Earnings Conference Call hosted by Marathon Nextgen Realty Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. I now hand the conference over to Mr. Chetan Shah, Chairman and Managing Director from Marathon Nextgen Realty Limited. Thank you, and over to you, sir. Chetan Shah: Thank you. Good day, everyone, and thank you for joining Marathon Nextgen Realty's Earnings and Business Update Call. I am Chetan Shah, Chairman and Managing Director. I'm joined today by Directors and Promoter Group, Kaivalya Shah and Samyag Shah. We have uploaded our financial results for the quarter and half year ended September 30, 2026 on the Stock Exchanges and on our website. I would like to begin with the biggest and the most exciting news and the most recent event of the proposed Monte South acquisition, a significant step in our plans to grow Marathon Nextgen Realty Limited. As announced on October 31, our Board has approved the acquisition of Adani Group's 60% stake in the project for INR335 crores. An amount of INR200 crores has already been paid. Upon completion, which is likely in this quarter, our ownership will increase from 40% to 100%, giving Marathon sole ownership of the landmark project Monte South in Byculla. Friends, Monte South has approximately INR6,500 crores of estimated future gross development value remaining on a 100% project basis. With this acquisition, Marathon will become entitled to consolidate its revenue which were till date not consolidated at all since we were the minority partners. The future profits moved from 40% to 100% on completion of this transaction. For us, this is an opportunity to expand our participation in a project which we have been executing since the beginning. We know it very well. Monte South already has completed residences in Tower A, construction progress across Tower B and C. There are significant opportunities for future launch of residential Tower D and commercial tower. The scale of the development is significant. Monte South comprises 4, 64-storey residential towers and a commercial tower, together representing approximately 25 lakh square feet of area. It offers a combination of an established residential development and a substantial opportunity still ahead. Tower A has received its full occupation certificate. Tower B has received occupation certificate up to 45th floor. The RCC structure is fully completed. And Tower C is complete up to 35th floor, and Tower D is yet to be launched. This is the residential portfolio. Along with this remaining residential sales and development potential, there is a commercial component, which provides a further opportunity for future monetization. We believe this acquisition can make an important contribution to Marathon Nextgen's next phase of growth. It strengthens our luxury South Mumbai pipeline and reflects our ambition to build a larger business through opportunities where we see long-term value. Page 2 of 10 Marathon Nextgen Realty Limited November 04, 2026 Adani Group has been a valued partner in developing Monte South, and we appreciate its contribution to the project's progress. As Adani increasingly focuses on substantially larger development across the Mumbai Metropolitan Region, it has decided to exit its investment in Monte South. We look forward to opportunities to work together in the future. Friends, on the merger front, we have had NSE/BSE “No Adverse Observation” letter submitted to NCLT. As a next step, all unsecured and secured equity stakeholders meeting, as convened by NCLT, is over with positive reports filed with NCLT. Hearings of NCLT is scheduled this month. Friends, let me now turn to our performance for the quarter and half year ended September 30, 2026. Our consolidated financial performance for this period is set out below. Total revenue for quarter 2 FY27, INR145 crores; and for the half year H1 FY27, INR362 crores. EBITDA for quarter 2 FY27, INR61 crores and INR127 crores for half year FY27. Profit after tax is INR45 crores for quarter 2 and INR98 crores for H1 FY27. Friends, our sales performance strengthened during the quarter. The key operating figures for the existing portfolio are set out as under. Pre-sales for quarter 2 was at INR154 crores. And for half year, it was INR240 crores. Collection was INR127 crores. And for the half year, it was INR244 crores. Area sold during the quarter was 71,000 square feet versus in the first half year of 109,000 square feet. Friends, these operating figures reflect our existing 40% revenue share in Monte South. As I informed you earlier, this share is going to change to 100% from the next quarter. Compared with quarter 1, FY27, booking value on our existing portfolio increased to INR154 crores from INR86 crores. Area sold nearly doubled to 71,000 square feet as compared to 38,000 square feet. And collections rose to INR127 crores from INR118 crores. The quarter-on-quarter performance is encouraging because it shows improved demand across different price segments within our portfolio, supported by our presence in established Mumbai micro markets. Friends, residential booking value rose to INR138 crores from INR81 crores in Q1. Our affordable and mid-income portfolio led this improvement with bookings of INR80 crores compared with INR31 crores in Q1 and area sold of about 51,800 square feet compared to 22,100 square feet in affordable and mid-income portfolio. At Monte South, our 40% share of sales was approximately 15,800 square feet during the quarter with booking value of INR58 crores up from INR50 crores in quarter 1 and collection of INR57 crores. Ready-to-move-in inventory in Tower A and B continue to support sales on execution. Tower B has now completed RCC up to the terrace level with occupation certificate received up to 45th floor. At Marathon Nexzonein Panvel, areas sold were doubled to about 28,200 square feet with booking value of INR39 crores compared to INR17 crores in Q1. Phase 3 contributed over 10,000 square feet of sales during the quarter. Page 3 of 10 Marathon Nextgen Realty Limited November 04, 2026 On execution, we have received the full occupies certificate for the Cedar and Daffodil towers. In Phase 3, excavation and footing work is nearly complete, and the plinth slab for 2 towers is also nearing completion. With the Navi Mumbai International Airport now fully operational and connectivity across th [Showing first 8,000 characters — download PDF for full document]