Mahindra & Mahindra Ltd.

BSE: 500520 | NSE: M&M
Large Cap | Automobiles - Passenger Cars
3122.35
-37.00 (-1.17%)
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M&M's arm eyes 50% growth in the coming years

Date: 26-03-2015

Mahindra & Mahindra’s (M&M) arm - Mahindra First Choice Wheels (MFCWL), which recently raised $15 million (Rs 94 crore) from US-based Valiant Capital, is eyeing 50 percent growth in the coming years.

The multi-brand used-car company would give more thrust on rural sales and following the successful pilot of light commercial vehicle (LCV) sales, it would step up focus on them. The company expects to close FY15 with revenue of Rs 50 crore, which is almost double compared to the 2013-14 revenue.

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.