M&M earmarks investment of Rs 10,000 crore for next three years

Mahindra and Mahindra (M&M) has earmarked an investment of Rs 10,000 crore in the next three years on capex and launching new products. As part of overall capex, the company is developing two-three new platforms for brand new products, which will enter the market around FY 2016.

These products will be rolled out from completely new plant, the location for which, including options outside its Chakan plant in Maharashtra, will be decided within this fiscal. Earlier, the company had decided to put on hold all investment at its Chakan plant due to VAT refund issues with Maharashtra Government.

Mahindra & Mahindra (M&M) is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.