Page 3 - Mahindra Group

M&M rejigs leadership team as Mahindra Logistics CEO Ram Swaminathan quits

Hemant Sikka to head Mahindra Logistics, Veejay Nakra to head farm biz, R Veluswamy to head auto division

Mahindra Aerostructures to make fuselage for Airbus H130 choppers in India

Mahindra Aerostructures, part of the diversified Mahindra & Mahindra group, will manufacture the fuselage for Airbus H130 helicopters in India. The company and Airbus have entered into a contract for making the fuselage for H130 helicopters, and the first fuselage is expected to be delivered in the first quarter of 2027. At a function to mark the signing of the contract in the national capital on Wednesday, Rmi Maillard as President of Airbus India and Managing Director of the South Asia region, said Airbus will continue to invest in India. Civil Aviation Minister K Rammohan Naidu said there is a huge demand in the sector and emphasised the need for boosting the country's manufacturing ecosystem in order to start making aircraft in India. "India is destined to become global aviation hub," he said.

Tech Mahindra bolsters US presence with new headquarters in Texas' Plano

Tech Mahindra has announced the opening of its Americas headquarters in Plano, Texas, a move it said underscores the company's firm commitment to the US market. The Plano office is Tech Mahindra's nineteenth office in the US. The new facility will house a diverse range of operational functions, including consulting, delivery, and customer support services. As part of the company's ongoing expansion plans, Tech Mahindra will also establish an Innovation Lab within the same premises. The lab will serve as a center of excellence, focused on developing new technologies, accelerating innovation, and advancing research to address the evolving needs of clients across industries. Tech Mahindra continues to play a significant role in driving technological innovation and providing advanced solutions to its customers in the market, the IT services company said in a release on Friday. The office was inaugurated in the presence of John B Muns, Mayor of Plano, Melanie Royer, Representative of

Mahindra Lifespace to raise Rs 1,500 cr via rights issue to cut debt, grow

Real estate company Mahindra Lifespace Developers plans to raise up to Rs 1,500 crore through issue of shares to eligible shareholders for reducing its debt as well as funding further growth. The board of Mahindra Lifespaces Developers Ltd has approved the fund raise of up to Rs 1,500 crore through rights issue to the eligible shareholders of the company. The proceeds will be utilised to pare down the company's existing debt and support its future growth plans, according to a regulatory filing on February 13. Mahindra Lifespace is the real estate and infrastructure development business of the Mahindra Group. Recently, Mahindra Lifespace reported a consolidated net loss of Rs 22.47 crore for the quarter ended December 2024. The company had posted a net profit of Rs 50.02 crore in the year-ago period. Total income jumped to Rs 185.77 crore in the third quarter of this fiscal, from Rs 88.77 crore in the corresponding period of the preceding year. Total expenses shot up to Rs 200.88

PM Modi, Trump launch ASIA to strengthen India-US military cooperation

Modi-Trump meeting: The initiative aims to drive next-generation defence and technological advancements, with a particular focus on underwater domain awareness

Jindal, Mahindra groups propose Rs 1.4 trillion investment in Karnataka

The three-day Invest Karnataka summit aims to secure investments worth Rs 10 lakh crore

M&M Q3 results: Profit rises 20% to Rs 3,181 crore on strong auto volumes

The company also posted a strong revenue growth of 17 per cent at Rs 41,470 crore

Anand Mahindra hails Coldplay Ahmedabad concert, shares aerial footage

As Coldplay concluded its world tour in Ahmedabad on Jan 26, Anand Mahindra shared a video of the Narendra Modi Stadium, showcasing India's rise as a significant player in live entertainment

Mahindra BE 6 secures full 5-star crash test rating by Bharat NCAP

Mahindra BE 6 has received the highest points in the 'Adult Occupant Protection' test to date

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

Noida Airport partners Mahindra Logistics Mobility for e-taxi service

The upcoming Noida International Airport (NIA) on Thursday said it has partnered with Mahindra Logistics Mobility to provide a premium, all-electric taxi service for passengers flying to and from the facility. The round-the-clock and seven days-a-week service will feature premium pick-up and drop-off facilities located at the arrival and departure kerbs, minimising walking distance, NIA said. Passengers will be able to book rides through various channels, including a dedicated mobile app, website, call centre, airline alliances, and airport kiosks. This multi-channel approach will guarantee accessibility and ease of booking for travellers, it said. The fleet will be managed with a focus on real-time dynamic adjustments based on passenger demand and flight schedules, reducing wait times, and extending service availability, NIA said. "We have partnered with Mahindra Logistics Mobility to offer a premium, all-electric taxi service, to provide a seamless and environment-friendly ride .

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 .

Mahindra Electric Automobile to not use '6e' till disposal of IndiGo suit

Mahindra stated it will rebrand the model from BE 6E to BE 6 but plans to contest IndiGo's claims in court

Fight for 6E is giving Mahindra vehicle free publicity, say brand experts

Meanwhile, as the fight continues in the Delhi High Court, Mahindra said in a statement on Saturday, "We are hence taking the decision to brand our product the BE 6

IndiGo takes Mahindra to court over '6E' branding for electric SUV

India's largest airline, IndiGo, told the court that Mahindra had reached out to them on Monday evening to discuss the issue

M&M gains 2% after clarifying reports on imposition of penalty untrue

The company cited the article under the header "Hyundai, Mahindra, 6 others likely to face emission penalties of Rs 7,300 crore."

Mahindra to invest Rs 4.5k cr for growth of two new electric brands

Mahindra & Mahindra has committed Rs 4,500 crore on the overall development, including the creation of production capacity, for the two new ground-up electric brands, a top company executive said on Wednesday. The Rs 4,500 crore investment is part of the Rs 16,000 crore capex the company has announced for the electric vehicle business between the FY22-27 cycle. The Mumbai-based auto major is creating production of capacity of 90,000 units per annum at its Chakan-based plant for the two ground-up 'Born Electric' models -- BE 6e and XEV 9e. "We have allocated Rs 4,500 crore investment for the two models. The investment would go into the overall development of the electric vehicles," Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm sectors Rajesh Jejurikar told reporters here. He noted that the production capacity at Chakan could be further scaled up to 1.2 lakh units per annum. The Mumbai-based auto major on Tuesday unveiled two models -- BE 6e and XEV .

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.

Tech Mahindra Q2FY25 results: PAT up 153% to Rs 1,250 cr, revenue up 3.5%

IT services firm Tech Mahindra on Saturday reported a more than two-fold jump in its consolidated net profit to Rs 1,250 crore for the July-September quarter, driven by special income from the sale of assets. The Mahindra Group company posted a net profit of Rs 493.9 crore in the year-ago period, according to an exchange filing. Revenue rose by 3.49 per cent to Rs 13,313.2 crore in the second quarter of 2024-25 compared to Rs 12,863.9 crore in the same quarter of 2023-24. Other income includes gain on sale of property of Rs 4,502 million which comprises of freehold land and its related buildings along with the furniture & fixtures sold for a consideration of Rs 5,350 million, receivable over a period of four years along with interest of 8.2 per cent p.a, the company filing said. Sequentially, net profit rose by 46.81 per cent and revenue by 2.36 per cent. "We continue to progress on our strategic improvement efforts even as the overall IT services industry has remained soft. "We