Marathon Nextgen Realty to acquire Adani Group’s 60% stake in Mumbai project ‘Monte South’ for Rs.33

Mumbai-based publicly listed Marathon Nextgen Realty is to acquire Adani Group’s 60% stake in the Mumbai-based project, Monte South, for INR 335 crore. Upon completion of the transaction, Marathon Nextgen will increase its stake in the development from 40% to 100%.Monte South is a mixed-use development located in Byculla, Mumbai, consisting of four 64-storey residential towers and a commercial tower, covering about 2.5 million sq ft of area. The project includes completed residences, ongoing construction, and development opportunities. Marathon Nextgen plans to use the acquisition to expand the scale of its business, leverage the development potential of the site, and eventually monetize the commercial component of the project.Founded in 1969 by Ramniklal Zaverbhai Shah, Marathon Group claims to have completed more than 100 projects, including townships, group housing, and commercial developments.