Mahindra & Mahindra Seeks to Acquire 350 Acres in Igatpuri for Manufacturing Expansion

Mahindra & Mahindra has submitted a letter of interest to acquire 350 acres of land in Igatpuri, Maharashtra, to set up a supplier park and other facilities to support its Nashik and Igatpuri plants. The land acquisition is at a preliminary stage and would require due diligence and regulatory approvals before a decision is made. The company plans to invest over Rs 27,000 crore in its automotive business between FY25 and FY27.

Mahindra & Mahindra has submitted a letter of interest to acquire 350 acres of land in Igatpuri, Maharashtra, with the intention of establishing a supplier park and other facilities to support its Nashik and Igatpuri plants. The land acquisition is currently at a preliminary stage and will require due diligence and regulatory approvals before a final decision is made. The company has plans to invest over Rs 27,000 crore in its automotive business between FY25 and FY27.

Mahindra & Mahindra's Executive Director and CEO for the auto and farm sectors, Rajesh Jejurikar, stated that the land parcel could be used for multiple purposes, including setting up a supplier park and other facilities needed for either Nashik or the Igatpuri plant. The company is exploring greenfield locations to expand production capacity beyond 2027, with the Chakan plant expected to increase its production capacity by around 2.4 lakh units in the first phase this year. The overall production capacity of the Chakan plant would go up to 7.5 to 7.6 lakh units per year after the expansion.

The acquisition of the 350-acre land parcel in Igatpuri is part of Mahindra & Mahindra's broader expansion strategy, which includes increasing production capacity at its Chakan plant and exploring new locations for future growth. The company is committed to meeting all internal and regulatory approvals before finalizing the land acquisition.

References:

[1] https://m.economictimes.com/industry/services/property-/-cstruction/mahindra-looks-to-acquire-350-acre-land-parcel-in-igatpuri/articleshow/123320959.cms