Page 2 - Mahindra Group

Anand Mahindra objects to Bengaluru being called 'Silicon Valley of India'

Mahindra was reacting to the launch of a non-stop flight between Bengaluru and San Francisco, the latter home to the Silicon Valley.

Mahindra CEO expects car sales to take 2 years to rebound after Covid shock

Anish Shah said sales would rebound by fiscal year 2023 if a majority of the country's population is inoculated and new Covid cases ease

Mahindra lines up Rs 17,000 cr to steer growth over next three years

Mahindra & Mahindra is planning to deploy Rs 17,000 crore over the next three years, including capex on new models and investments in group companies besides its auto and farm sector businesses, a top company official said on Friday. The company plans to launch total 23 models in passenger vehicles segment and light commercial vehicles (LCV) category by 2026 and 37 models in the farm equipment vertical under its Project K2 by 2024-25. Addressing reporters in a virtual earnings call conference, Mahindra Group Managing Director and CEO Anish Shah said out of the Rs 17,000 crore planned to be deployed in the next three years, capital expenditure is at Rs 12,000 crore. It includes Rs 6,000 crore for conventional automotive, Rs 3,000 crore for electric vehicles (EVs) totalling Rs 9,000 crore for the automotive sector. While for the farm equipment sector, capex is at Rs 3,000 crore, he added. "So a total capex of Rs 12,000 crore (in three years). The remaining Rs 5,000 crore is ...

Mahindra Group to open MADE, a design centre for mobility products in UK

The firm will be the second from India to enter UK for designing cars and SUVs, after Tata Motors set up the European Technical Centre in Coventry in 2005

Governance: Putting the 'G' in ESG

A study found that over the 12 months, governance consistently ranked second, behind only a company's products, as a driver of corporate reputation

Anish Shah to take over as MD and CEO of M&M next month, company says

Finance veteran will be the first in Mahindra's history to have complete oversight of group when Anand Mahindra becomes non-executive chairman.

Top headlines: Tatas win in court against Mistry; Air India sale in June

From financial bids for Air India to Mahindra's new chief-here are top headlines this evening

Govt to set up empowered committee for manufacturing in high tech areas

Tata Sons chairman N Chandrasekaran, Bharat Forge Chairman Baba Kalyani, Mahindra Group managing director and CEO Pawan Goenka, among others, will be part of the committee

VS Parthasarathy resigns from Mahindra Group, to pursue personal interests

Mahindra & Mahindra on Monday said VS Parthasarathy, the President of its Mobility Services Sector and Member of the Group Executive Board, has decided to leave the group effective close of April 1, 2021 to pursue personal interests. Parthasarathy, who joined the Mahindra group in 2000 and began with an HR stint, has expressed desire to leverage his rich professional experience to consult, mentor, build and scale businesses and initiatives across business, education and society in the next phase of his career, M&M said in a regulatory filing. He was spearheading the newly formed Mobility Services Sector (MSS), a growth driver and incubation platform for future investments by the Mahindra group in technology-driven mobility companies, with the vision of co-creating the 'Future of Mobility'. It includes all mobility businesses within the group, including Mahindra Logistics and the erstwhile aftermarket sector, Mahindra First Choice Wheels and Mahindra First Choice Services, and .

Anand Mahindra & his 'social' connect: Witty, inspiring & heart-warming

Vishwanathan Anand to mentor at Tech Mahindra's phygital Chess League

Global Chess League is an extension of the various partnerships its has with different sports- from FIFA to Indian Premier League's Kings XI Punjab

Mahindra, Reliance commit to WEF's Stakeholder Capitalism Metrics

The metrics offer a set of universal, comparable disclosures focused on people, planet, prosperity and governance that companies can report on, regardless of industry or region

Mahindra Group registers interest to seek Covid-19 vaccines for employees

Diversified Mahindra Group on Friday said it has registered interest to seek COVID-19 vaccines for its employees, as per priorities and sequence to be specified by the government.

Mahindra lays off two-thirds of staff at its North American subsidiary

Firm attributes move to pandemic and legal spat with Fiat Chrysler, says it is in line with group's strategy to re-think capital allocation and drive efficiency

2021 will be year of reinvention and regeneration: Anand Mahindra

Mahindra group has emerged stronger from the COVID-19 crisis and the 'strange & sinister year' 2020 will be transformed into a year of 'reinvention & regeneration' in 2021, according to the chairman of the conglomerate, Anand Mahindra. In his New Year address to the 2.56 lakh employees of the group across 100 countries, Mahindra said in spite of all the problems brought about by the pandemic last year, "someunexpectedly great things had emerged from what seemed like an impossibly bad situation". Drawing parallels to the development of COVID-19 vaccines, in which researchers and regulators have fast-tracked the vaccine development process to 10 months which otherwise takes 10 years, he said there are lessons for the group to learn from it in terms of following purpose-driven business, rebooting and re-evaluating. "I thinkthe first important learning from that story is that the day of the purpose-driven business has arrived," he said adding manufacturing the vaccine is a true ...

Mahindra Mobility Services eyes four-fold increase in m-cap in 5 years

This will be largely driven by Mahindra Logistics and unlisted entities in the mobility services space

Top headlines: Small savings cross Rs 1 tn, Volkswagen Beetle goes electric

From Indians pumping nearly Rs 1 trillion into small savings schemes to Beetle becoming India's first vintage car to go electric, Business Standard brings you the top headlines of the day

Mahindra group rides Jawa back to its Czech homeland after a 90-year hiatus

The motorcycle was created by Frantisek Janecek in Prague, with the first model rolling out on October 23, 1929

We're not keen on diversifying at this point, says M&M's Anish Shah

Group has ten businesses 'which have lot of potential and can grow', says managing director and CEO-designate.

Mahindra shutters plane manufacturing facility in Australia; seeks buyers

Mahindra Group on Tuesday said it has closed down its aircraft manufacturing business in Australia and is scouting for a buyer, more than a decade after venturing into high-cost plane-making business. The decision also comes little over a year after one of the planes, manufactured at the Australian facility, crashed in Sweden killing nine persons. In 2009, Mahindra Group acquired 75.1 per cent stake each in two Australian aerospace firms, Gippsland Aeronautics (Gipps Aero) and Aerostaff Australia, for Rs 175 crore as part of its plans to manufacture aircraft and allied components to service global market. While Gippsland Aeronautics is into aircraft manufacturing, Aerostaff is into manufacturing aircraft components. "We have shut down our Gipps Aero business, which was into the manufacturing of 8- and 10-seater planes in Australia," Mahindra & Mahindra Deputy Managing Director and Group CFO Anish Shah told reporters in the post-earnings media call. "It is up for sale for someone .