• More than 46 Years

    Of Real Estate Experience

  • More than 80

    Projects Completed

  • More than 5000

    Happy Families

  • 18 Million Sq. Ft

    Of Land Under Development

  • 2 Million Sq. Ft

    Of Business Spaces Under Development


Our origins date back to 1922 when our patriarch played a key role in creating the master plan for 550 acres of the suburb of Mulund. The company was formally established by Ramniklal Shah in 1969, and has come a long way developing residential, commercial, retail, mixed and township projects in the greater Mumbai area.

Ramniklal Z Shah

Ramniklal Z Shah, laid the foundation of Marathon in 1969. He started the company as a social enterprise and most of his initial undertakings were on a not-for-profit basis. He has been deeply involved with the community and has held the presidentship of the Rotary Club (Mulund), Jain Sangh and SMPR High School. His deep sense of social obligation has inspired him to lead many community service endeavors such as rehabilitation of the victims of Latur and Bhujpur earthquakes, providing homes at cost for the underprivileged, offering construction services at cost to educational and religious institutions, etc. He has also been a committee member of the MCHI (Maharashtra Chamber of Housing Industry).

Chetan R Shah
Vice Chairman

Chetan R Shah is a B. Tech in Civil Engineering from IIT Bombay and M.S in Structural Engineering from the University of Houston, USA. He has 30 years of experience in the industry and his keen interest in social affairs saw him become the President of the Lion’s Club and a leading member of other social organizations.

Mayur R Shah
Managing Director

Mayur R Shah has earned his Masters Degree in civil and structural engineering from USA and has 25 years of experience in development and construction. His social activities include being past President of Rotaract Charitable Trust, the Vice President of Jain Jagruti Centre, Vice-President of MCHI and Chairman of MCHI Property exhibitions.

Past Projects

Marathon from 1969 onwards

We are proud to have provided homes for more than 5,000 families, retail space for 400 retailers and offices for 350 businesses having delivered more than 80 projects. Here are some of our past projects:


  1. 1969We built Dr. Radhakrishna Nagar Teachers Housing Society in Mulund on a no-profit basis.
    Click to view
  2. 1970We volunteered to construct V. P. M. Kannada School in Mulund East.
    Click to view
  3. 1971We partnered with Shri Mahila Grah Udyog (Lijjat Papad) to provide flats to economically weaker section of our community.
  4. 1993Developed free of cost  housing for the earthquake affected families in Latur.
  5. 2004We carried out beautification & renovation of Eastern Express Highway & Mulund Railway Station in Mumbai.
    Click to view
  6. 2005We volunteered and rebuilt 100 homes free of cost to rehabilitate villagers affected by earthquakes in Latur, Bhujpur and Kutch.
    Click to view
  7. 2013Free career counselling for pass out of SSC from slum region - Gyan Abhigyan program
  8. 2013Blood donation camp in association Arpan blood bank and health check up with workers at site of Marathon Monte Vista.
  9. 2014Swacch Bharat clean Mulund drive in association with JITO
  10. 2014Birthday celebration at Construction site with labors
  11. 2014Diwali celebration at construction site with labors
  12. 2015Organised blood donation camp, health check up drive and eye check up camp for residents of Bhandup slum in assoiciation with Lions Club of Mulund
  13. 2015Blood donation camp in association Arpan blood bank
  14. 2016Training of labors at Marathon Nexzone site under the Skill India Initiative
  15. 2016Blood donation camp in association Arpan blood bank


Marathon is driven by Innovation.

The MD & Vice-Chairman are both technocrats, with Masters' degrees from leading institutes in the US, and have always been early adopters of revolutionary technologies that allow us to create products with exceptional quality. Some of our technological benchmarks are:

1st Building with a lift in Mulund

In 1972, the Group, under the leadership of Ramniklal .Z. Shah, built the 1st 7 storied building in Mulund with an elevator – Poonam.

1st High-rise in Mulund

Antriksh tower, completed in 1996, became Mulund's first high rise standing tall at 190ft. To this day it is considered a landmark project, with resale rates far above the prevailing market rate.

1st developer in India to employ cutting edge Construction Technology

Marathon Group has been pioneer in construction technology. We were one of the first developers in India to adopt MIVAN Aluminum Shuttering System from Ireland, PERI table formwork from Germany and STEN technology. These technologies have helped us to develop innovative design and improve our quality of construction

And we've been awarded for our innovation.

Marathon Futurex, Lower Parel - awarded as
Best Upcoming Green Project of the Year - 2015
by Construction Times Builders Awards

Marathon Group is the 1st Company in India to implement Property E-Registration for customers of Marathon Nexzone, Panvel Navi Mumbai

MARATHON GROUP has been chosen as
the “2nd Most Trusted Developer in MMR
NDTV Profit & Prop Equity Survey, 2014.

Marathon Nagari, Badlapur -  awarded
"Best Residential Apartment: Low Cost Metro- 2012" by CREDAI

NextGen Era, Lower Parel - awarded
"Excellent Interior Design Premium Segment-2010" by Economic Times ACETECH

Marathon NextGen Campus, Lower Parel - awarded "Best Urban Design & Master Planning-2009"
by Construction Source India

Marathon NextGen Innova, Lower Parel has been awarded as “Best Commercial Project of the Year 2006-07” by Accomodation Times

Slum Rehabilitation- Marathon Group was awarded certificate by Hon. Smt. Sonia Gandhi for successful completion of Slum Rehabilitation Project in 2005

Marathon Heights, Worli1st residential tower in India with helipad was awarded “Best Residential Project of the Year-1999” by Accomodation Times



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.

  1. To grow 6.5 times in Revenue and 5 times in Area Constructed.
  2. To be in the " Top 5 in Customer Satisfaction in Mumbai Metropolitan Region"
  3. To be the "Most Trusted Developer in Mumbai Metropolitan Region "
  4. To provide "Best in Class Design"
  5. To be in the "Top 5 in Employee Engagement in Mumbai Metropolitan Region "


Marathon's Dharma is the set of core principles that each Marathonite will uncompromisingly follow. These are values that are the reason for our success derived from strong beliefs of the promoters. All our rewards and recognition programs, competency measurements of employees, and promotion decisions are shaped around our Dharma..

  1. Stand tall in terms of integrity & transparency
  2. Continuosly improve & scale heights
  3. Always focus on customer delight
  4. Respect resources and create exponential value
  5. Constantly endeavour to create happiness for all
  6. Be committed and respectful to all and at the same time be firm and fair

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