In intraday trading on Wednesday, Marathon Nextgen shares dropped as much as 6.97 percent, to Rs 580 a share on the BSE. Following the company’s Tuesday announcement of its business update for quarter one of fiscal year 2024–25 (Q1FY25), the stock price crashed.
In the June quarter, the developer sales value of residential and commercial projects decreased by 10% to Rs 214 crores from Rs 236 crores in the previous quarter. When compared to Q1FY24 sales of Rs 398 crore, the sales decreased by 46% year over year.
Similarly, the company’s pre-sales area, which was 1,43,429 square feet sold in the June quarter of FY24 and 1,00,091 square feet sold in Q4FY24, decreased by 45% Y-o-Y and 22% Q-o-Q in Q1FY25 to 79,239 square feet.
As of 2:23 pm, Marathon Nextgen Realty shares were trading 5.26% lower at ₹591.25 on the NSE.
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