M&M to invest Rs 10,000 cr in next 3-yrs, plans to set up new auto plant

M&M to invest Rs 10,000 cr in next 3-yrs
Mahindra & Mahindra Ltd (M&M) said it will invest Rs 10,000 crore in the next three years and part of the amount will go into setting up a new auto plant, reported PTI

"We are bullish about our future and will continue on our path of investing in that future. We are planning Rs 10,000 crore investment in the next three years, including a new auto plant," M&M Chairman and Managing Director Anand Mahindra told shareholders at the company's 67th annual general meeting (AGM) here.

He gave no details about the proposed facility. "Our past experience suggests this will pay dividends. In 2008, when the economy was slowing down, M&M was one of the few companies that continued to invest; and that investment is one of the major reasons why we significantly outperformed the industry over the last two financial years.

"And today as well, despite the difficult situation, we will continue along our investment path, not only in capacity building but also in R&D," Mahindra said.

"We will invest with an even greater focus on the frugality and efficiency of that investment. Mahindra Group is well prepared to take on a challenging environment."

Dion Global Solutions Ltd.

Read more about: mahindra mahindra
Story first published: Wednesday, August 14, 2013, 9:10 [IST]
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