Mahindra Group to invest ₹40,000 crore in Karnataka in next few years Business News & Hub

Mahindra Group chairman Anand Mahindra speaking at the Global Investors’ Meet in Bengaluru on Tuesday
| Photo Credit: PTI

Mahindra Group will invest ₹40,000 crore in Karnataka in the next few years, said Anand Mahindra, chairman of the group, here on Tuesday.

At the Global Investors’ Meet, ‘Invest Karnataka 2025’, he said Mahindra Susten intends to invest ₹35,000 crore to develop over 5GW of solar and hybrid projects over the next five years. This would generate 6,000 to 8,000 news jobs in Karnataka, he said.

Mahindra Lifespaces, the realty arm, Mr. Mahindra said is developing over ₹5,000 crore worth of projects in Bengaluru and has plans to develop another ₹6,000 crore worth of projects in the near future.

According to him, the group’s hospitality arm, Mahindra Holidays, already operates several resorts and is evaluating further expansion into areas such as Gokarna and Hampi. “We intend to invest further ₹1,000 crore and are in talks with government officials and look forward support in land aggregation.”

He said, Mahindra Defence Services and Mahindra Aerospace were looking at strategic expansion opportunities in the State worth several hundred crores. On his plans for last-mile logistics, Mr. Mahindra said, Karnataka was a hub for the group’s ambitions to stay the market leader in the E3W space. “With 60 patent applications, 54 trademarks, and 10 design registrations, our last-mile mobility is deeply entrenched here,” he added.

Recalling his growing days on a coffee estate owned by his parents at Kutta in Kodagu district in the late 1960s, he said, “In many ways, the Mahindra Group’s relationship with Karnatka mirrors the lessons I learned on that Kodagu coffee plantations.”