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Raw Data Sip Marathon
Raw Data Sip Marathon
Raw Data Sip Marathon
Executive Summary
2. Industry Analysis
Real estate refers to real, or physical, property, and can include land, buildings, air rights
above the land, and underground rights below the land. As a business term, real estate also
refers to producing, buying, and selling property.
Real estate is property consisting of land and the buildings on it, along with its natural
resources such as crops, minerals or water; immovable property of this nature.
Residential real estate includes both new construction and resale homes. The most common
category is single-family homes, but there are also condominiums, co-ops,
townhouses, duplexes, triple-deckers, quadplexes, high-value homes, multi-generational
homes, and vacation homes.
Vacant Land
Land includes vacant lots, working farms, and ranches. The subcategories within vacant land
include undeveloped, early development or reuse, subdivision and site assembly.
India’s real estate sector saw over 1,700 acres of land deals in the top 7 cities in 1 year.
Foreign investments in the commercial real estate sector were at US$ 10.3 billion from
2017-21. As of February 2022, Developers expect demand for office spaces in SEZs to shoot
up after the replacement of the existing SEZs act.
As per ICRA estimates, Indian firms are expected to raise >Rs. 3.5 trillion (US$ 48 billion)
through infrastructure and real estate investment trusts in 2022, as compared with raised
funds worth US$ 29 billion to date.
The office market in the top eight cities recorded transactions of 22.2 msf from July 2020 to
December 2020, whereas new completions were recorded at 17.2 msf in the same period.
In terms of share of sectoral occupiers, Information Technology (IT/ITeS) sector dominated
with a 41% share in the second half of 2020, followed by BSFI and Manufacturing sectors
with 16% each, while Other Services and Co-working sectors recorded 17% and 10%,
respectively.
Around 40 million square feet were delivered in India in 2021. It is expected that the country
will have a 40% market share in the next 2-3 years. India is expected to deliver 46 million
square feet in 2022.
According to Savills India, real estate demand for data centres is expected to increase by 15-
18 million sq. ft. by 2025.
In 2020, the manufacturing sector accounted for 24% of office space leasing at 5.7 million
square feet. SMEs and electronic component manufacturers leased the most between Pune,
Chennai and Delhi NCR, followed by auto sector leasing in Chennai, Ahmedabad and Pune.
The 3PL, e-commerce and retail segments accounted for 34%, 26% and 9% of office space
leases, respectively. Of the total PE investments in real estate in Q4 FY21, the office segment
attracted 71% share, followed by retail at 15% and residential and warehousing with 7%
each.
India’s gross leasing volume in the top 8 cities stood at 16.2 this was 12.4% quarter to
quarter growth in 2021. India’s net absorption of the office market stood at 11.56 million
square feet in quarter four of 2021. This was an 86% rise QoQ.
Between July 2021 and September 2021, a total of 55,907 new housing units were sold in
the eight micro markets in India (59% YoY growth).
In the third quarter of 2021 (between July 2021 and September 2021), new housing supply
stood at ~65,211 units, increased by 228% YoY across the top eight cities compared with
~19,865 units launched in the third quarter of 2020.
According to the Economic Times Housing Finance Summit, about 3 houses are built per
1,000 people per year compared with the required construction rate of five houses per
1,000 population. The current shortage of housing in urban areas is estimated to be ~10
million units. An additional 25 million units of affordable housing are required by 2030 to
meet the growth in the country’s urban population.
1. DLF Ltd
Revenue: Rs 7,766 Cr
Profit: 1,632 Cr
Market Cap: 56,672 Cr.
ROE: 3.70 %
Sales Growth (3Yrs): -5.54 %
Promoter holding: 74.95 %
Debt to equity: 0.23
Price to book value: 1.5
The Company’s diverse verticals reflect a dedication to developing ecosystems for India’s
changing needs. DLF Ltd is the Largest real estate company in India in terms of total sales.
Revenue: Rs 6,518 Cr
Profit: 423 Cr
Market Cap: 12,156 Cr.
ROE: 7.63 %
Sales Growth (3Yrs): -2.21 %
Promoter holding: 70.00 %
Debt to equity: 1.91
Price to book value: 2.77
In October 2010, the Prestige Group also successfully entered the Capital Market with an
Initial Public Offering of Rs 1200 cr. Now with 205 landmark developments across the
city, the company has extended its expertise to
major cities across South India including Chennai,
Hyderabad, Kochi, Mysore, Mangalore, and Goa.
Revenue: Rs 6,384 Cr
Profit: 227 Cr
Market Cap: 6,345 Cr.
ROE: 20.98 %
Sales Growth (3Yrs): 19.50 %
Promoter holding: 65.93 %
Debt to equity: 0.00
Price to book value: 4.82
NBCC’s areas of operation encompass three (03) Primary Segments namely:
Revenue: Rs 5,015 Cr
Profit: 493 Cr
Market Cap: 2,776 Cr.
ROE: 12.44 %
Sales Growth (3Yrs): 18.65 %
Promoter holding: 23.36 %
Debt to equity: 0.50
Price to book value: 0.78
It has delivered iconic commercial developments of over 3.3 million sq. ft. in
Mumbai namely – One Indiabulls Centre & Indiabulls Finance Centre and in the residential
segment – Indiabulls Sky, Mumbai, and Greens Panvel, apart from delivering projects in
Gurugram, Chennai, Madurai, Ahmedabad, and Thane.
Revenue: Rs 2,973 Cr
Profit: 427 Cr
Market Cap: 4,210 Cr.
ROE: 10.70 %
Sales Growth (3Yrs): 13.41 %
Promoter holding: 46.83 %
Debt to equity: 1.64
Price to book value: 1.85
Brigade’s residential portfolio includes villas, villaments, penthouses, premium residences,
luxury apartments, value homes, urban studios, independent living for seniors and mixed-
use lifestyle enclaves and townships.
Brigade’s retail projects include Orion Mall, Orion East, and Orion OMR. Brigade’s hospitality
offerings include star hotels, recreational clubs and convention centres, Celebrations
Catering & Events and The Baking Company.
Since its inception in 1986, Brigade has completed over 250 buildings amounting to 66
million sq. ft of developed space in residential, offices, retail and hospitality sectors across 7
cities.
Revenue: Rs 2,582 Cr
Profit: 817 Cr
Market Cap: 19,044 Cr.
ROE: 11.27 %
Sales Growth (3Yrs): 22.18 %
Promoter holding: 67.70 %
Debt to equity: 0.20
Price to book value: 2.37
The Company has developed over 42 projects at strategic locations across the Mumbai
skyline aggregating about 11.89 million sq. ft. of spaces (group entity including promoter
group). With another 27.43 million sq. ft in the making, The company has aggressive plans
for upcoming projects in various parts of Mumbai and other regions.
Revenue: Rs 2,194 Cr
Profit: 504 Cr
Market Cap: 11,732 Cr.
ROE: 11.72 %
Sales Growth (3Yrs): 3.78 %
Promoter holding: 59.16 %
Debt to equity: 1.13
Price to book value: 3.26
The group has real estate assets in Mumbai, Bengaluru, Chennai, Pune, Agra, Indore,
Lucknow, Bareilly & Ahmedabad. The company is among the top real estate companies in
Mumbai
Godrej Properties development
combines a 122–year legacy of
excellence and trust. In 2010,
Godrej Properties became
a publicly listed
company through a successful
IPO in which it raised USD 100
million. It is among top 10 real
estate companies in Hyderabad.
The CII-Godrej Green Building Centre in Hyderabad, when it was completed in 2004, was the
first LEED Platinum building outside of the United States and was the single highest-rated
LEED building in the world.
Revenue: Rs 2,322 Cr
Profit: 319 Cr
Market Cap: 23,161 Cr.
ROE: 11.64 %
Sales Growth (3Yrs): 9.90 %
Promoter holding: 64.45 %
Debt to equity: 0.78
Price to book value: 4.98
Godrej Garden City, in Ahmedabad, was selected as one of only 2 projects in India and 16
worldwide by The Clinton Foundation to partner with them in the goal of achieving a climate
positive development. In 2016, The company stood 2nd in Asia and 5th in the world in the
GRESB (Global Real Estate Sustainability Benchmarking) study, which is an industry-led
sustainability and governance benchmarking platform.
9. Omaxe Ltd
The brand ‘Omaxe’ was founded in 1987 by visionary first-generation entrepreneur & civil
engineer Mr. Rohtas Goel to undertake construction and contracting business.
Subsequently, the company diversified into the real estate sector in 2001 and got listed on
both stock exchanges (BSE and NSE) in 2007.
Revenue: Rs 1,146 Cr
Profit: 50 Cr
Market Cap: 2,809 Cr.
ROE: 2.67 %
Sales Growth (3Yrs): -5.58 %
Promoter holding: 74.38 %
Debt to equity: 0.70
Price to book value: 1.60
Today, the company is present in 27 cities across 8 states namely Uttar Pradesh, Madhya
Pradesh, Punjab, Haryana, Uttarakhand, Rajasthan, Delhi, Himachal Pradesh and possesses a
diversified product portfolio that includes Hi-Tech Townships, Integrated Townships, Group
Housing, Shopping Malls, Office Spaces, SCOs, and Hotel.
Through land regulations, land readjustment and land pooling policies, the Government
should spare large shares of underutilized and vacant land parcels. By this, it will give some
relief to the financially aggrieved developers and help the situation of the real estate sector
improve. This calls for an urgent change or revision in the Land Acquisition Resettlement
and Rehabilitation Act of 2013.
There are a lot of impending projects in the Indian real estate market starting from public
sector projects to private sector housing colonies. There is a delay happening in the
completion of these projects and the reason for this is that the project does not get enough
funding or there is a lack of technology to complete these projects on time. Another big
challenge in the Indian real estate sector is the protracted approval process because project
approvals in India take about days to years because there is no option of a single-window
clearance and it often results in time and cost escalations.
Overpopulation:
India is touted to be the most populous country by the year 2050. More than 50 per cent of
people are urban centres and Tier 1 cities. To accommodate the population, India would
require more new cities and urban centres on a mass scale in order to provide the required
resources to the inhabitants.
The Indian real estate sector is still dependent on old building techniques and hence they
are over-dependent on extensive human labour for construction activities. Whereas, high-
quality building materials such as concrete and iron slabs are used in new construction
techniques. Therefore, today it is very important for developers to rely on modern building
techniques which will help reduce construction time and labour cost and in that way the
projects can be delivered fast.
3. About the Company
Marathon is a Mumbai based real estate development firm. they have completed
more than 100 projects, and are currently building several townships, luxury projects,
affordable homes, office spaces and retail spaces across the city.
Marathon Group was formally launched in 1969 by Shri Ramniklal Shah, an
educationalist with the ideal of serving society in every way. But the seeds were
sown by his father, Zaveribhai Ramji Shah, the Patriarch, in 1992, when he
envisioned and planned Mulund, a 550-acre suburb in Mumbai. Marathon continued
to contribute to Mulund through the 70's and the 80's, with over 30 landmark projects
in this suburb alone, carrying forward the Patriarch's vision, conviction and
dedication, making Mulund the 'Prince of the Suburbs'.
In the 90's, Marathon expanded to over the rest of Mumbai and beyond under the
stewardship of the next generation, Ramnikbhai's sons, Chetan Shah and Mayur
Shah. Qualified civil and structural engineers from USA, the two brothers have
consistently set new benchmarks for the group, re-inventing the Group's goal and
adopting new age methodologies. Marathon Nextgen is a result of their efforts.
Today, with the ideals instilled in us by earlier generations and the vision of
redefining the real estate industry, the Group is venturing in to newer areas: Special
Economic Zones, townships, infrastructure development, entertainment and leisure,
education, hospitality and the capital markets. Marathon Nextgen is driving the group
initiatives into these areas.
At Marathon, the vision is the all-important set of statements that outlines our goals. Our
performance management system is built around this to ensure that all our people are
aligned to these larger goals. We work hard to achieve these goals and rigorously track our
progress.
Marathon Realty
Products and Services
NEOHOMES
NeoHills
NeoVally
NeoSkies
NeoSquare
NeoPark
1. Township projects
Township projects consists of Nexworld, Nextown, Nexzone
Nexworld is located at Dombivli (E)
Nexworld
Nexworld offers 1BHK studios (379-390 sq. ft.) and king-sized homes 1BHK (475 – 501 sq. ft.)
and 2BHK Apartments (672 – 699 sq. ft.).
Nextown is located at off Kalyan-shil Road Thane.
Nextown
It offers 1BHK (672 – 699 sq. ft.) and 2BHK (449-500 sq. ft.) Apartments.
Amenities are Clubhouse, Swimming pool, Badminton court, Gym, Wi-fi Lounge, Indoor
games, Kids play area, Landscaped Park, Podium Amenities.
Nexzone is located at Panvel.
Nexzone
The project includes club house and Podium Amenities (Gym, Swimming pool, Entrance
lobby, Kids play area, multi-purpose hall, Landscaped Garden, Indoor games room,
Sports court, Spa and Jacuzzi gym, Steam room, Pool table, Lounge.
Monte South is located at Byculla (W)
Monte South
offers 2 BHK (746-958 sq. ft), 2.5 BHK (1158-1214 sq. ft.), 3 BHK (1090-1354 sq. ft.) ,3.5 BHK
(1485-1699 sq. ft.) The Project includes Podium Amenities (Swimming pool, Artificial Beach,
Club House, Cricket pitch, Tennis court, Multipurpose Court)
3. Premium Projects
Premium projects includes Eminence which is located at Mulund (W)
Eminence
Offers 1 BHK (445 sq. ft) and 2 BHK (569 sq. ft.) Apartments. and Amenities are Kids play
area, Indoor games room, Landscaped podium garden, Gym and Retail promenade.
Commercial Projects
Commercial projects include Futurex and Millennium.
Futurex is located at Lower Parel. Offers ready Offices for Sale and lease.
Futurex
Cash flow