Page 5 - Mahindra Group

Anand Mahindra invests $1 million in social network start-up Hapramp

The firm is working on the biggest social media challenges: user privacy, data security, and fair content monetization.

Defence reforms: Indian manufacturers looking to ride the opportunity

FM Nirmala Sitharaman had announced a series of measures to boost investments in India's defence and aerospace sector last week as part of the tranche 4 of the Rs 20 trillion economic stimulus

Lockdown extensions economically disastrous, says Anand Mahindra

While acknowledging that choices are not easy for policy makers, he said a lockdown extension will not help.

Big names in Indian philanthropy team up to respond to climate change

Some of the biggest names in Indian philanthropy have teamed up with researchers and more to craft an India-specific response to the climate crisis. Nikita Puri reports on the development

Mahindra Renewables plans $171 mn investment for solar project in Rajasthan

The project will be backed by International Finance Corporation (IFC)

Mahindra group going slow on niche-segment hiring as auto slowdown bites

'Fresh hiring will be limited. If a huge growth comes then we have to do a lot of hiring', the company said

Mahindra Group to check into upscale hotel segment to tap burgeoning demand

Sources said that the proposed diversification from 'vacation ownership' through its Club Mahindra brand will put the firm on a similar turf as that of the Tata Group's Indian Hotels

M&M group net income plunges 78% to Rs 368 crore as demand slide continues

Mahindra & Mahindra on Friday said its consolidated net income plummeted 78.44 percent to Rs 368.43 crore in the quarter to September as the volumes fell sharply even though the automaker could maintain strong margins. On a standalone basis, the company did better with a net income of Rs 1,355 crore, down 23.8 percent, thanks to a relatively better show by the tractor arm. Consolidated revenue stood at Rs 23,935.93 crore, down almost 6 percent from a year ago, of which automotive revenue stood at Rs 12,058.79 crore, down from Rs 14,330.54 crore and farm equipment revenue stood at Rs 5,369.89 crore marginally down from Rs 5,451.20 crore, pulling down it pretax profit by over 13.7 percent to Rs 702 crore. During the quarter, its automotive volume dipped 21 percent to 1,10,824 from 1,41,163 units, while tractor sales stood at 68,359 units, down 6 percent from 73,012 units, while the industry volume plunged 10 percent. Despite this, the company marginally improved its ..

Mahindra Lifespaces eyes half a dozen stressed projects in three cities

MD Sangeeta Prasad said the company would scale up business, take debt selectively and float more platforms

Maharashtra approves Mahindra's Rs 19 bn tourism project in Mumbai suburb

As per the state tourism policy of 2016, an ultra mega project would require a capital investment of Rs 5 billion and to employ 750 people and complete it in 84 months

Mahindra Powerol enters marine engine biz, eyes 10% revenue from segment

Mahindra Powerol, a business unit of $20.7 billion Mahindra Group, has officially forayed into the marine engines business by launching products commercially in Chennai.The company is targeting to capture 30 per cent of the high power engines of 100-300 horsepower in the next 12-24 months. The company is also expecting around 10 per cent of its revenues to come from the marine engine business in next three years, said Sachin Nijhawan, Business Head, Mahindra Powerol.The smaller engines ranging from 50 to 100hp consists of around 20,000 units market, while the above 100 hp is around 2,500-3,000 units market. The higher power engines are priced at around Rs 1,50,000-7,00,000 per engine. The company has engines, ranging from 24hp to 300hp, including 11 variants of Marine Engines and Marine Generators."At present most of the market is unorganised and dominated by the Chinese low price products. However, there are concerns about the lifetime of the vehicle and fuel efficiency and the ...

Mahindra group subsidiaries have put up a stellar show in FY18

Having exited the bleeding businesses like mass two wheelers and retail, the group is now turning to artificial intelligence, virtual reality to enhance efficiency

Mahindra Group to double US investment by 2022, says Pawan Goenka

The Indian conglomerate has invested $1 bn in US market till date, employs about 3,000 Americans

Mahindra to invest $1 bn in US in 5 yrs, seeks to double American revenues

Diversified Mahindra group plans to invest USD 1 billion across business verticals in the US over the next five years as it aims to double revenues from the American market to USD 5 billion. The Mumbai-headquartered group, which currently employs around 3,000 people in the country, also plans to double the headcount over the next five years as it looks to expand operations. "We have so far invested around USD 1 billion in the US among all the businesses and we should invest another billion over the next five years," Mahindra & Mahindra Managing Director Pawan Goenka told PTI here in an interview. The quantum of investment, however, would depend on various factors like market conditions and success of various projects that are currently underway in the US, he added. Elaborating on various strategic projects, Goenka said the company has bid for a US postal service contract and if it comes through it would help the company grow exponentially in the country. When asked about the

Tough conditions for Mahindra, especially tractor biz, could end soon

Mahindra is among the few business houses spread across diverse industries such as automobile, software, real estate, financial services

Not quitting 2-wheeler space, will focus on niche market: M&M

The move is part of its strategy to refocus on the two-wheeler business and target premium niche segment