Page 7 - Mahindra Group

Mahindra & Mahindra, Hinduja join race to buy MG Motor India stake

The Sajjan Jindal-led JSW group has already evinced interest to take up to 48% stake in MG Motor India. The company's valuation is pegged at over Rs. 8,000 crore, the sources said

Aiming to maintain leadership position in SUV segment: Mahindra Group CFO

Mahindra & Mahindra is looking at maintaining leadership position in the fast growing sports utility vehicle segment in the current fiscal with demand remaining robust for its model range, according to the group CFO Manoj Bhat. The company, which is sitting on an order backlog of 2.92 lakh units for sports utility vehicles (SUV), also plans to ramp-up production capacity by the end of this year, as it looks to cut waiting periods on various models. In an interaction with PTI, Bhat said there is a huge demand for company products which is evident with the number of open bookings generated by the auto major. "If you look at the last quarter booking numbers there is huge demand across the board... demand for XUV300/400, Thar and demand for the Scorpio and XUV700 range continues to be strong... so from that perspective it is good that the customer is getting more choice with more products," he noted. When asked if the company is looking at a leadership position in the SUV segment this

Automakers to invest $10 billion for enhancing EV manufacturing capacity

The capital expenditure will be allocated towards building green-field plants for EVs, better research and investment in battery plants, and support for grid charging infrastructure

Mahindra Holidays Q4 profit rises on higher occupancy, membership

Shares of the company jumped 5.3% after the results, and closed 3.4% higher

Four months in waiting, Mahindra Thar to cost up to Rs 1.05 lakh more

The price for the base variant of the Mahindra Thar, which stands at Rs 13.49 lakh (all prices are ex-showroom), remains unchanged

Keshub Mahindra: A leading industrialist very different from the ultra-rich

He was close to his workers, the doors were always open for them, and he treated them as part of one big family

Oldest Indian billionaire, champion of education: Who was Keshub Mahindra?

Keshub Mahindra passed away on April 12 at the age of 99

Mahindra expands cultural outreach with yet another festival: Percussion

Day-long event in Bengaluru on Saturday is the newest in the conglomerate's Nov-March calendar patronising the arts

Cero plans to set up at least 100 vehicle scrapping centers by 2025

"By 2025, the target is clear that we need to be in more than 100 cities," said Cero's director

Mahindra Lifespaces Q3 net up 33% to Rs 33.21 cr, income rises to Rs 198 cr

Realty firm Mahindra Lifespace Developers Ltd on Thursday reported a 33 per cent increase in its consolidated net profit at Rs 33.21 crore for the quarter ended December. Its net profit stood at Rs 25.02 crore in the year-ago period. Total income rose sharply to Rs 198.14 crore in the third quarter of the current financial year from Rs 33.32 crore a year ago, according to a regulatory filing. Net profit during the April-December period of this fiscal jumped to Rs 100.88 crore from Rs 17.67 crore in the corresponding period of the previous year. Total income also rose to Rs 389.30 crore in the first nine months of FY23 from Rs 253.22 crore in the same period last year. Mahindra Lifespace, which is part of Mahindra Group, is one of the leading real estate firms in the country.

Had toyed merging with Satyam a year before it went bust: Anand Mahindra

The Mahindra Group had toyed with the idea of merging with Satyam Computer Services a year before the Hyderabad-based IT company went bust, its Chairman Anand Mahindra said

Mahindra carries messages from the 'citizens of future'

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India's Mahindra named fastest-growing brand in South Africa for 2022

The Indian auto manufacturer Mahindra has been named the fastest-growing brand in South Africa for the year 2022 as the company's local subsidiary set several records in the last year, according to a report by the National Association of Automobile Manufacturers of South Africa (NAAMSA). The report said that 'Mahindra SA' increased its sales volume by a massive 78 per cent compared to 2021, the highest of all the vehicle brands that report their sales to NAAMSA and more than five times the market average. The sales report further shows that Mahindra grew its total sales in the passenger vehicle market by 80 per cent to 4 027 vehicles in 2022 and its light commercial sales (that of its popular Pik Up and Bolero ranges) by 77 per cent to 8,885 vehicles. The company hit an average monthly sales figure in excess of 1,000 units per month, breaking through the magical 10,000 unit per annum mark for the first time and reaching close to 14,000 total sales for the year, it said. This is al

German PE firm acquires 80% stake in Mahindra-owned Peugeot Motorcycles

The Munich-based private equity holding company has a portfolio of 32 companies and has a presence across Europe

'Not possible to do away with repossession agents': Mahindra Finance MD

'Specialised people' needed to ensure loan defaulters don't cheat company, says Ramesh Iyer in interview

Mahindra Lifespaces Developers logs net loss of Rs 8 crore in Q2

The company has also set a target of achieving annual residential sales of Rs 2500 crore and annual leasing of Rs 500 cr

NBFCs' recovery to be hit after RBI action against M&M Financial Services

Moreover, as lenders will not deploy their own staff for such activity, their operation costs may go up, said experts

'Can't outsource recovery agents': RBI cracks the whip on M&M Financial

This is probably the first time the regulator has cracked down on lenders on recovery by coercive methods, which is typically a hallmark of outsourced recovery agents

Indian cos leading global fight against climate change: Mahindra Group MD

India can take the lead in the global fight against climate change as a number of homegrown companies are already leading the march, Mahindra Group MD & CEO, Anish Shah said on Tuesday. Global warming has resulted in a number of natural disasters and if it continues unabated it would lead to catastrophic consequences, he said while speaking at the FICCI LEADS 2022 event here. "We've seen our Prime Minister (Narendra Modi) make some very bold statements, including getting to 50 per cent renewable energy by 2030, and that is really an acknowledgement of the fact that India can lead the world on this," Shah said. He further said, "a number of Indian companies have been leading at the world stage in this, as well by looking at new technologies, by looking at green materials coming in by decarbonising industries." Therefore, Shah said, "It's something that we cannot ignore and say we are a developed country or a developing country and it's for others to solve. We have to be able to ...

Electric vehicle launch success key to further gains for M&M stock

SUV launches getting traction, weak rural demand a headwind for tractors