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Mahindra Finance Grows by Leaps and Bounds

On the back of a strong performance in rural India, Mahindra Finance registered a 37% growth in Q4 FY19 with Total Income of Rs. 2, 480 crore. With strong loans growth and improved recovery of past bad loans, the Profit After Tax (PAT) surged to Rs. 588 crore as against Rs. 314 crore, registering a strong growth of 87% over the same period previous year.

Ramesh Iyer, Managing Director and Vice Chairman, Mahindra Finance, said, “Despite the slowdown we increased our market-share through geographical diversification and deeper penetration. We have

reduced our NPA (Non-Performing Assets) accounts to 92,000 in this quarter against 1.37 lakh a year ago. The recoveries from these accounts have been substantial and has helped us improve our margins.”

With the merging of the aspirations between rural and urban India and an increase in willingness to spend, India’s rural economy is set to lead the next phase of growth in the country. From providing personal loans, vehicle and Small and Medium Enterprise (SME) financing to consumer broking, Mahindra Finance has crossed a customer base of 6 million in Q4 FY19.


Transforming Last-Mile Connectivity

To introduce next-generation sustainable solutions in the shared mobility space, Mahindra has deployed 50 of its Electric Vehicles (EVs), in partnership with global on-demand ride-sharing company, Uber, in Hyderabad. Mahindra’s electric vehicles on the Uber platform will include the e2oPlus hatchback and eVerito sedan.

Mahesh Babu, CEO – Mahindra Electric, said, “When we announced our collaboration with Uber, we wanted to accelerate the large-scale adoption of electric vehicles on shared mobility platforms and drive a positive change in people’s daily commute. Today, while thanking the state government for its support, we are excited to embark on this journey to make last-mile commuting eco-friendly, and transform the way people in Hyderabad commute. Going forward we plan to further deploy our vehicles across multiple cities on the Uber platform.”

As the pioneers of electric vehicles and related technologies in the country, Mahindra and Mahindra has always been at the forefront of leading the change toward smart and sustainable mobility. To facilitate increased penetration of EVs and eventual 100% transition, these cars will be deployed through partners such as A to Z universal solutions in Hyderabad.

Mahindra has also worked closely with public and private players who have initially set-up over 15 common use charging points across multiple locations, and will further support this initiative with driver education and training related to various aspects of electric vehicles.

Deepankar Tiwari, Head, Vehicle Solutions, Uber, Asia Pacific, said, “Uber is committed to building a more sustainable future of mobility by assisting passengers with on-demand services, with fewer and more efficient vehicle trips. We are excited about the tremendous potential of electric vehicles in India and are committed to supporting the government’s vision of building a viable infrastructure to accelerate the speedy induction of even more EVs.’’

It is believed that by 2030, there will be 7 mega cities in India with a population of over 10 million, and almost 50 cities with a population of over one million. EVs will play a key role in decarbonizing these cities by providing clean mobility solutions. This collaboration with Uber is therefore an important next step to help accelerate the large scale adoption of electric vehicles on shared mobility platforms, and meet the nation’s vision for a smooth, connected and emission-free future.


'Future Focused' Industrial Cluster

Mahindra Lifespace Developers Limited recently inaugurated the first phase of ‘ORIGINS’, by Mahindra World City (MWC), Chennai, located on the NH-16, near Ponneri. The industrial cluster has been developed in a 60:40 joint venture between Mahindra World City Developers Limited, a subsidiary of Mahindra Lifespace Developers Limited and Sumitomo Corporation, Japan.

Mahindra World City Developers Limited and Sumitomo Corporation have together committed to invest Rs. 1,000 crore in developing ORIGINS, which is expected to create direct employment for about 7,000 persons, when fully operational. Phase 1 of ORIGINS, Chennai, spans 300 acres and is ready for business with all approvals in place. The industrial cluster focuses on attracting large and medium global corporates across engineering, food processing, automotive, logistics and aerospace among others.

Sangeeta Prasad, MD and CEO, Mahindra Lifespace Developers Ltd., said, “It is gratifying to see our vision of a future-focused and sustainable industrial cluster come to life. ORIGINS, Chennai provides a holistic business ecosystem designed to create employment opportunities and drive long-term socioeconomic growth supporting the Make in India vision.”

ORIGINS, Chennai will enable faster go-to-market for

businesses via world-class plug-and-play infrastructure, strategic location advantages, and a range of value-added services. The industrial cluster, which is the first in the state to receive IGBC Green Cities’ ‘Platinum’ rating for master plan and design, has already signed signed-up Yanmar Group, an over 100-year-old Japanese business conglomerate, and Nissei Electric, a leading Japanese manufacturer and trader of optical fiber products to establish their first manufacturing facilities.

Located on the Chennai - Kolkata Highway (part of the Golden Quadrilateral), it is well connected by air, rail, road and sea. It offers state-of-the-art infrastructure, with smart elements to manage efficient in-house operations and maintenance with supporting infrastructure.

Tsutomu Akimoto, managing executive officer and GM, Infrastructure Business Unit, Sumitomo Corporation, said, “Tamil Nadu is one of the most promising destinations for Japanese investments in India and I strongly believe that ORIGINS, Chennai can enhance the state’s attractiveness as an innovation and manufacturing hub. Sumitomo Corporation is committed to contributing to ‘Make in India’ and realize prosperity and dreams for all people of Tamil Nadu, through our industrial park business.”


Mahindra Unveils New Pik-Up Range in Saudi Arabia

Mahindra launched its new and improved next generation pick-up line in the Kingdom of Saudi Arabia in partnership with its new distributor, General Contracting Company (GCC) of Olayan Group. With spacious interiors and a long list of hi-tech features, the next generation Pik-Up models - S6 and S10 are poised to rule the segment  in the largest market for Mahindra among all the Gulf countries.

Head of International Operations (Automotive), Mahindra & Mahindra Ltd., said, “We are committed to focus on the needs and aspirations of the customers in the pick-up category. Our Next Generation Mahindra Pik-Up has been launched one year ago across the world and has been very well received by customers. We are confident that with GCC Olayan’s extensive reach in the Kingdom of Saudi Arabia and their commitment to after-sales service, we will be able to further tap the huge potential in this segment.”

Packed with power and style, the entry-level S6 variant

sports an amplified turbo diesel power and has exceptional towing capacity of 2,500 kg. This impressive performance combined with spacious interiors and technologically advanced features makes it a lucrative buying option in the Saudi Arabian market.

Along with S6 variant, the premium S10 Double Cab from Mahindra’s pick-up line, is also swaying consumers in Saudi with remote central locking, multi-function steering wheel, satellite navigation, and 3D instrument cluster.

Riding high on consumer safety and comfort, both the S10 and S6 pick-up sport features like hill descent control, ABS, ESC, brake override system, EBD, tyre pressure monitoring system, and much more. With a seamless customer experience and specially curated features, the next generation variants offers a unique amalgamation of power, performance, style and comfort.


Club Mahindra Pioneers Sustainability

Mahindra Holidays & Resorts India Limited (MHRIL) achieved a historic landmark in the sustainability space with its Virajpet property in Coorg, Karnataka, becoming India’s first ‘Zero Waste to Landfill’ resort. This recognition was handed over to Club Mahindra by Intertek, a global leader in assurance, inspection and certification.

The initiative of incorporating sustainable practices into the day-to-day functioning of Mahindra Holiday resorts began in April 2017, and has led to 100% diversion of hazardous waste toward recycling. Virajpet resort plans to continue along the same trajectory and segregate waste at the source to streamline the waste disposal process.

Kavinder Singh, MD & CEO, Mahindra Holidays & Resorts India Ltd (MHRIL) said, “We at Club Mahindra relentlessly strive to be a good corporate citizen, with sustainability being at the core of our business practices. We not only pursue zero waste practices to have a

healthy environment but also engage with local communities, creating employment opportunities and increasing prosperity.”

Zero Waste implies designing and managing products and processes to systematically avoid and eliminate the volume and toxicity of waste and materials, conserve and recover all resources and not burn or bury them.

The sustainability measures taken at the resort include rain-water harvesting, organic plantation in and around the resort premises, and use of aerators in guest. Further, the administration of the resort completely eliminated the use of cartons and wood, in turn, replacing them with returnable packaging. The waste generated from the canteen is also used for the production of biogas which serves as fuel in the preparation of the food. In addition, the installation of an incinerator, a natural composting machine, and a bottle crusher in the resort premises will further enable the resort to extend its sustainability initiative.

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