MUMBAI: Mahindra & Mahindra has expressed interest in acquiring 350 acres of land in Igatpuri, Maharashtra, as disclosed by a senior company official.
The Mumbai-based automaker currently operates manufacturing facilities in Nashik and Igatpuri.
“We have submitted our interest for 350 acres in Igatpuri, which is a crucial part of our ecosystem,” stated Rajesh Jejurikar, Executive Director and CEO of Mahindra & Mahindra (M&M) for the auto and farm sectors.
He mentioned that the Nashik and Igatpuri plants would benefit from a supporting facility nearby. “This land can be utilized for various purposes, such as establishing a supplier park or adding resources for either the Nashik or Igatpuri plant,” Jejurikar added.
The company is in the early stages of this process, which involves thorough due diligence, and the land acquisition will require further approvals, according to Jejurikar.
“We still need to navigate through all necessary internal and regulatory approvals before making a final decision. Hence, while the expression of interest is valid, the process is far from complete,” he noted.
Nalinikanth Gollagunta, CEO of the Automotive Division, highlighted the plans to increase production capacity at its Chakan facility by approximately 240,000 units in the first phase this year. The overall production capacity will rise to between 750,000 and 760,000 units annually following the expansion.
“We’re also considering establishing greenfield locations to further enhance production capacity beyond 2027,” Gollagunta affirmed.
Mahindra has earmarked over Rs 27,000 crore for investment in its automotive sector between FY25 and FY27.
