Moving beyond a portfolio approach, Mahindra aims to operate as an integrated platform aligned with India’s growth trajectory.
30 Jun 2025 | 1026 Views | By Ketan Thakkar and Darshan Nakhwa
As the Mahindra Group completes 80 years, it is rethinking its business operations and growth. Under Managing Director and CEO Anish Shah, the Group is moving from a conventional holding structure to a “platform for possibilities” — a more connected model aimed at driving collaboration, improving execution, and creating sustained ...
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As the Mahindra Group completes 80 years, it is rethinking its business operations and growth. Under Managing Director and CEO Anish Shah, the Group is moving from a conventional holding structure to a “platform for possibilities” — a more connected model aimed at driving collaboration, improving execution, and creating sustained value across sectors.
In the FY25 Integrated Annual Report, Shah likened Mahindra’s evolution to a banyan tree — not rushed, but rooted, expansive, and deliberately grown. “A banyan tree does not rise in haste. It anchors. It listens. It grows… deliberately, boldly… until it becomes a world that creates value for everyone around it,” Shah said. The analogy reflects the Group’s intent to scale with intention, leverage internal adjacencies, and align itself with high-growth macro themes — from electrification and green real estate to inclusive finance and digital services.
The Mahindra Group’s business realignment over the past few years has culminated in what it now calls its “Growth Gems” strategy — a focused set of businesses outside the core (Auto, Farm, Finance, IT) scaling rapidly with differentiated potential. These include Mahindra Lifespaces, Susten (renewables), Last Mile Mobility (electric three-wheelers), Accelo (steel processing), Classic Legends (lifestyle motorcycles), and the Car & Bike digital retail platform.
These businesses are not being incubated in isolation. They are tightly linked to Mahindra’s broader ecosystem, often drawing from shared design teams, manufacturing infrastructure, mobility insights, or sustainability frameworks.
“We are building businesses that benefit from Group-level synergies while having the agility to lead in their respective markets,” said Shah. “Our Growth Gems are scaling rapidly, establishing a strong presence in their respective markets, and well on track to deliver the promise of 5x growth.”
With the rollout of its Born Electric SUV range under the BE and XEV brands, Mahindra is attempting to break new ground not just in powertrain shift but also in how Indian vehicles are perceived globally in terms of design, performance, and digital integration.
The launch of the electric SUVs is also symbolic of Mahindra’s pivot toward future-aligned verticals: clean mobility, sustainable housing, and renewable infrastructure, rather than legacy asset-heavy diversification.
“We aspire to be a globally recognised brand,” Shah said, adding that India’s favourable policy climate, young workforce, and growing infrastructure provide the right tailwinds to scale.
Anish Shah sees India at a pivotal moment in its economic evolution, with a unique opportunity to emerge as a global manufacturing leader. He cites the country’s growing infrastructure, favourable policy environment, and young workforce as key enablers of this shift. He says Mahindra is well-positioned to capitalise on this momentum, with over 70% of its businesses directly aligned with India’s GDP drivers.
The group is embedded in sectors critical to India's long-term growth, from automotive and farm equipment to renewables, logistics, and digital platforms. “India’s opportunity to lead the world in manufacturing has never been greater, and we are aligned with it,” Shah noted, underscoring Mahindra’s strategic readiness to scale with the nation’s ambitions.
Even as it sharpens its growth strategy, Mahindra anchors itself in purpose. The Group’s social impact initiatives like Kaabil, which upskills women for meaningful employment, and Project Nanhi Kali, which supports education for underprivileged girls, are positioned not as CSR, but as core to Mahindra’s identity. These efforts are credited with enhancing employee engagement and earning global ESG recognition.
Shah underlined this integrated approach: “The Mahindra Group is much more than just a collection of companies. It is a platform for possibilities… a space where people, businesses, and partners come together to Rise.”
The narrative emerging from Mahindra’s leadership is clear: the next phase will be less about diversification and more about depth — scaling in areas where the Group has an edge, focusing on design as a differentiator, and investing in businesses that align with market trends and societal needs.