Integrated Annual Report 2025-26 362 S. No. Name of the entity 74 Mahindra Holidays & Resorts India Limited 75 Mahindra Holidays & Resorts India Limited Employee Stock Option Trust 76 Mahindra Homes Private Limited (w.e.f. 28th November 2025) 77 Mahindra Hotels & Residences India Limited 78 Mahindra HZPC Private Limited 79 Mahindra Ideal Finance Limited 80 Mahindra Infrastructure Developers Limited 81 Mahindra Insurance Brokers Limited 82 Mahindra Integrated Business Solutions Private Limited 83 Mahindra Last Mile Mobility Limited 84 Mahindra Lifespace Developers Limited 85 Mahindra Logistics Limited 86 Mahindra MiddleEast Electrical Steel Service Centre (FZC) 87 Mahindra MSTC Recycling Private Limited 88 Mahindra Blossom Developers Limited (w.e.f. 2nd January 2026 upto 23rd March 2026) 89 Mahindra Overseas Investment Company (Mauritius) Limited 90 Mahindra Racing UK Limited (Subsidiary upto 9th June, 2025) & (became subsidiary w.e.f. 17th November 2025) 91 Mahindra Rural Housing Finance Limited 92 Mahindra Rural Housing Finance Limited Employee Welfare Trust 93 Mahindra Solarize Private Limited 94 Mahindra South East Asia Limited 95 Mahindra Steel Service Centre Limited 96 Mahindra Sustainable Energy Private Limited 97 Mahindra Telephonics Integrated Systems Limited 98 Mahindra Two Wheelers Europe Holdings S.a.r.l. 99 Mahindra USA Inc. 100 Mahindra Vehicle Sales and Service Inc. 101 Mahindra Water Utilities Limited 102 Mahindra World City (Maharashtra) Limited 103 Mahindra Investment Company (Mauritius) Limited (Formerly known as Mahindra-BT Investment Company (Mauritius) Limited) (w.e.f. 19th December 2025) 104 Marvel Solren Private Limited 105 MH Boutique Hospitality Limited 106 MHR Holdings (Mauritius) Limited 107 Mitsubishi Agricultural Machinery Sales Co., Ltd. 108 Mitsubishi Mahindra Agricultural Machinery Co., Ltd. 109 MLL Express Services Private Limited 110 MLL Mobility Private Limited 111 Moonshine Construction Private Limited S. No. Name of the entity 34 Infinity Hospitality Group Company Limited 35 Keskinäinen Kiinteistö Oy Salla Star (w.e.f. 3rd July 2025) 36 Kiinteistö Oy Rauhan Liikekiinteistöt 1 37 Knowledge Township Limited 38 Kota Farm Services Limited 39 Lords Freight (India) Private Limited 40 M.I.T.R.A Agro Equipments Private Limited 41 Mahindra & Mahindra Benefit Trust 42 Mahindra & Mahindra Contech Limited 43 Mahindra & Mahindra Employee Stock Option Trust 44 Mahindra & Mahindra Financial Services Limited 45 Mahindra & Mahindra Financial Services Limited - Employees' Stock Option Trust 46 Mahindra Accelo Limited 47 Mahindra Advanced Technologies Limited (w.e.f. 7th April 2025) 48 Mahindra Aerospace Private Limited 49 Mahindra Aerostructures Private Limited 50 Mahindra Agri Solutions Limited 51 Mahindra Airways Limited 52 Mahindra and Mahindra South Africa (Proprietary) Limited 53 Mahindra Armored Vehicles Jordan, LLC 54 Mahindra Auto Steel Private Limited 55 Mahindra Automotive Australia Pty. Limited 56 Mahindra Automotive Mauritius Limited 57 Mahindra Automotive North America Inc. 58 Mahindra Bloomdale Developers Limited 59 Mahindra Construction Company Limited 60 Mahindra Defence Systems Limited 61 Mahindra do Brasil Industrial Ltda. 62 Mahindra Electric Automobile Limited 63 Mahindra Electrical Steel Private Limited 64 Mahindra eMarket Limited 65 Mahindra Emirates Vehicle Armouring FZ-LLC 66 Mahindra EPC Irrigation Limited 67 Mahindra Europe s.r.l. 68 Mahindra Finance CSR Foundation 69 Mahindra First Choice Wheels Limited 70 Mahindra First Choice Wheels Limited ESOP Trust 71 Mahindra Fruits Private Limited 72 Mahindra Holdings Limited 73 Mahindra Holidays & Resorts Harihareshwar Limited 41. Related Party Disclosures: (contd.) (a) Related parties where control exists: (contd.) Subsidiaries: (contd.)
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