Mahindra

Mahindra XEV 9e top-end Pack Three trim launched at Rs 30.50 lakh

Introductory prices of the entry-level Pack One trim were announced in November 2024, the company is yet to disclose prices of the mid-spec Pack 2 trim

Mahindra BE 6 top-end Pack Three variant launched at Rs 26.90 lakh

The Mahindra BE 6 will be available in three variants: Pack One, Pack Two and Pack Three, though prices for the mid-spec trim have not yet been announced

Mahindra looks to scale up biz globally, eyes more markets with new models

Having consolidated its position in the domestic market, Mahindra & Mahindra is now looking at ways to expand its presence across international markets, as per a top company executive. The Mumbai-based auto major is looking to scale up its automotive business globally in a phased manner with plans to leverage its existing distribution channels in various overseas markets in the first phase. In an interaction with PTI, Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm sectors Rajesh Jejurikar said new products like the under-development lifestyle pickup truck and the new range of electric models would allow it to enter new international markets. He noted that the automaker already has a strong presence in countries like South Africa, Australia, New Zealand, Morocco, and Chile with an established distribution network. "A lot of these geographies started for us as markets where we sold Scorpio pick-up. Now these markets are enabling us to launch models ...

Looking forward with hope to achieve growth at scale: Mahindra CEO

Mahindra Group is looking forward to the new year with hope and confidence, driven by its aspiration to achieve growth at scale, according to its CEO & Managing Director Anish Shah . In his new year message to employees of the group, Shah said over the past year the group has accelerated its growth trajectory and its businesses are on an ambitious growth path and are firing on all cylinders. "We look ahead with hope and confidence, driven by our aspiration to achieve growth at scale. We will continue to lead with purpose, to set audacious goals and work with discipline and determination to achieve them," he said. Reflecting on 2024, Shah said, "It has been an incredible year in all dimensions, our performance far surpassed our audacious goals." Crediting the team Mahindra for turning "challenges into opportunities and aspirations into aspirations", he said, "We span sectors that cover nearly 70 per cent of India's GDP, and we are establishing a meaningful presence in each of these

Mahindra logs 18% jump in Dec car sales to dealers on strong SUV demand

(Reuters) - Indian automaker Mahindra & Mahindra said on Wednesday it clocked an 18% jump in sport utility vehicle sales to dealers in December due to strong demand.

Tech Mahindra aiming for bigger bite of bank tech spends, says CEO

Mohit Joshi, who took the helm of India's No.5 software services exporter in December 2023 wants to increase the share of BFSI in Tech Mahindra's revenue mix by up to 25 per cent by March 2027

Indian REITs Association appoints Alok Aggarwal to drive sector growth

The Indian REITs Association (IRA) has appointed Alok Aggarwal, MD and CEO of Brookfield India Real Estate Trust, as its new Chairman. Established in 2023, the IRA is a non-profit trade organisation that supports the growth and development of India's Real Estate Investment Trust (REIT) sector. Its founding members include Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust. "Aggarwal's extensive experience in the real estate sector, especially REITs, and proven leadership will help IRA immensely. Under his guidance, we aim to work closely with SEBI to support industry growth, protect investor interests, and uphold high regulatory standards," the Association said in a statement. Commenting on his new role, Aggarwal said the role of chairman has come at a time when REITs have established a strong foothold in the Indian capital market and are poised for significant growth. "I look forward to collaborating with industry

Mahindra Susten's clean-tech arm secures Rs 1,448 crore term loan

Mahindra Group firm Mahindra Susten on Wednesday said its wholly-owned subsidiary Martial Solren has secured a term loan of Rs 1,448 crore. The financing will support solar PV power projects being developed under long-term Power Purchase Agreements (PPAs) with key off-takers. Martial Solren, a 100 per cent wholly-owned subsidiary of Mahindra Susten Private Ltd, the clean-tech arm of the Mahindra Group, has successfully secured a rupee term loan of Rs 1,448 crore, a company statement said. The financing documents have been formally executed with HDFC Bank and Axis Bank to support its ambitious 560 MWp solar power projects in Gujarat and Rajasthan, the statement added. Deepak Thakur, Managing Director & CEO of Mahindra Susten, said securing the financial closure for our 560MWp Solar Projects in Gujarat and Rajasthan is an important step for Mahindra Susten. Once completed, the plant is expected to generate approximately 9 lakh MWh of solar energy annually. This output will offset .

Wedding season sparks 2-wheeler boom but passenger vehicles hit the brakes

As passenger vehicle retail sales slowed in November, companies are anticipated to maintain high discount levels to attract buyers

Hyundai, Mahindra, Kia among firms fined Rs 7,300 cr for emission breach

The Centre has imposed Rs 7,300 crore penalty on eight automakers, including Hyundai, Mahindra, and Kia, for violating fleet emission norms in FY22-23

Mahindra & Mahindra unveils latest XUV 9e and BE 6e electric SUVs

The company claims a real-world range of over 500 km on a single charge for the 79 kWh battery pack, which supports fast DC charging of up to 175 kW

Mahindra hopes express biz to turn profitable amid focus on cost efficiency

Mahindra Group on Thursday said it is expecting its express business to turn profitable amid its focus on getting back volumes to achieve cost efficiency. It also said the turnaround in the express business will bring the overall profitability in the logistics business. The group's arm Mahindra Logistics Ltd (MLL) acquired the B2B express business of Rivigo in September 2022 and brought it under the MLL Express Services. MLL saw its consolidated profit after tax declining 33 per cent to Rs 10.7 crore in the September quarter from Rs 15.9 crore in the same quarter of the last year. The losses for the Express business were reduced by 32 per cent on a year-on-year basis, driven by continuous cost optimisation, while EBITDA losses came down by 10 per cent on a sequential basis, the company said. The growth in volumes continues to be a key priority for the business as it progresses towards an EBITDA breakeven, it had stated in the statement at the time of the Q2 earnings announcement.

M&M Q2 Preview: Operating profit may climb up to 31% YoY; revenue eyed

Brokerages anticipate robust revenue growth driven by improved volumes and realisations, with mixed expectations on margin performance across segments

Auto majors Maruti Suzuki, Mahindra report best-ever October sales

The shift towards larger vehicles also impacted MSI's mini-segment cars and compact car sales

Mahindra Lifespace incurs Rs 14 crore loss in Q2; pre-sales up 77%

The company, however, achieved pre-sales of Rs 397 crore for the quarter with a saleable area of 0.53 million square feet (msf) in the residential segment

Mahindra Thar ROXX sets record with 1.76 lakh bookings in just 60 minutes

Mahindra has assured buyers that the company will communicate tentative delivery schedules over the next three weeks in a phased manner

Mahindra & Mahindra and Skoda Volkswagen to sign joint venture soon

The JV will include sharing of costs, technologies, and vehicle platforms but will not include sedans, SUVs, and premium brands like Audi, Porsche, and Lamborghini sold by Volkswagen and Skoda

Mahindra expands LCV range with product based on multi-energy platform

Mahindra & Mahindra on Monday expanded its light commercial vehicle (LCV) range with a new product range based on an all new platform developed at an initial investment of Rs 900 crore. The company has introduced "Veero" light commercial vehicle in the less than 3.5 tonne range with both diesel and CNG trims, with price starting at Rs 7.99 lakh (ex-showroom). An electric version of the LCV would be introduced at a later stage. In an interaction with PTI, Mahindra & Mahindra (M&M) President Automotive Division Veejay Nakra said the model will help the company further strengthen its leadership in the LCV (less than 3.5 tonne) segment. The product, with multiple fuel options and payloads, will be useful for various applications, he added. "We have a market share of around 51 per cent in the less than 3.5 tonne LCV segment... now this range comes in 2-3.5 tonne segment where we have a market share of 63 per cent. So it will help us further strengthen market share beyond 63 per

Mahindra Group, Sentrycs ink pact for development of anti-drone solutions

Mahindra Group and Israel's Sentrycs Ltd on Friday said they have signed a non-binding Memorandum of Understanding (MoU) to explore opportunities for developing and providing 'differentiated anti-drone solutions' in India. The solutions will cover civilian and military applications, the two companies said in a joint statement. The MoU relates to the 'anti-drone systems' technology space and will focus on the Transfer of Technology (TOT) and manufacturing of radio frequency-based counter-drone solutions under the government of India's 'Make in India' initiative, it added. The 'differentiated anti-drone solution' is an autonomous and integrated system with a command and control (C2) module, and enables detection, tracking, identification and mitigation of incoming drones. "We believe that this MoU with Sentrycs would enable the group to explore opportunities in the anti-drone space and set the stage for cutting-edge technological offerings with global partners for a full suite of ...

Thar ROXX launch boosts M&M stock price by 3%; up 16% in 3 months

The surge in the stock price followed the company's announcement of the launch of Thar ROXX, its latest sports utility vehicle (SUV).