MAHINDRA & MAHINDRA LTD. | Integrated Annual Report 2022-23

254 MAHINDRA & MAHINDRA LTD. Integrated Annual Report 2022-23 7. Intangible assets under development Rupees crores Particulars 2023 2022 Opening Balance ................................................................................................................................................................................................................................... 3,638.47 3,234.23 Additions during the year Addition during the period................................................................................................................................................................................................................ 1,944.14 1,289.89 Addition during the period - due to Interest Capitalisation...................................................................................................................................... 143.00 176.58 Acquisitions through business combinations [Refer note 44 (B)]......................................................................................................................... — 164.23 Total Additions ........................................................................................................................................................................................................................................ 2,087.15 1,630.70 Deletions during the year Transfer to Intangible Asset............................................................................................................................................................................................................. 2,950.60 1,221.89 Deletion during the year.................................................................................................................................................................................................................... 750.79 1.51 Reclassified as held for sale............................................................................................................................................................................................................ 38.65 — Impairment during the year #........................................................................................................................................................................................................ 151.23 3.06 Total Deletions ........................................................................................................................................................................................................................................ 3,891.27 1,226.46 Closing Balance ...................................................................................................................................................................................................................................... 1,834.35 3,638.47 Ageing of intangible assets under development Rupees crores Particulars Amount in Intangible assets under development for a period of Less than 1 year 1-2 years 2-3 years More than 3 years Total As at 31 st March, 2023: Projects in progress ................................................................................................................................... 599.91 550.53 220.85 463.05 1,834.35 Total ..................................................................................................................................................................... 599.91 550.53 220.85 463.05 1,834.35 As at 31 st March, 2022: Projects in progress ................................................................................................................................... 1,357.75 665.69 856.91 758.12 3,638.47 Total ..................................................................................................................................................................... 1,357.75 665.69 856.91 758.12 3,638.47 # Out of impairment losses recognised in the statement of profit and loss, Rs. 123.13 crores (2022: Rs. Nil) and Rs. 28.10 crores (2022: Rs. 3.06 crores) has been recognised in exceptional items and depreciation, amortisation and impairment expenses, respectively . 8. Investments A. Non-current investments Particulars Face Value Per Unit (Rupees) 2023 2022 Number Rupees crores Number Rupees crores Investments in Equity Instruments (fully paid-up) Quoted (A) At Cost (i) In Subsidiary Companies Equity shares Mahindra & Mahindra Financial Services Limited................... 2 64,43,99,987 2,846.87 64,43,99,987 2,846.87 Mahindra EPC Irrigation Limited........................................................... 10 1,51,44,433 77.75 1,51,44,433 77.75 Mahindra Holidays & Resorts India Limited.......................... 10 13,48,35,922 24.72 13,48,35,922 24.72 Mahindra Lifespace Developers Limited.................................. 10 7,93,19,550 440.28 7,93,19,550 440.28 Mahindra Logistics Limited................................................................... 10 4,18,12,257 41.81 4,18,12,257 41.81 Swaraj Engines Limited **........................................................................ 10 63,31,141 322.29 — — 3,753.72 3,431.43 (ii) In Associate Companies Equity shares Swaraj Engines Limited **.............................................................. 10 — — 42,16,792 26.28 Tech Mahindra Limited..................................................................... 5 24,80,22,598 971.75 24,80,22,598 971.75 Mahindra CIE Automotive Limited @...................................... 10 1,21,22,068 306.28 4,33,44,512 1,095.16 1,278.03 2,093.19