Mahindra and Mahindra Official News – Page 7

Mahindra Launches the Stylish & Thrilling New XUV300

Fully Loaded With Segment-First Safety & Technology Features

Mumbai, February 14, 2019: Mahindra & Mahindra Ltd. (M&M), a part of the US $20.7 billion Mahindra Group, today launched its highly-anticipated new SUV, the XUV300 (pronounced as XUV 3 double ‘Oh’) at an ex-showroom starting price of Rs. 7.90 lac for the Petrol W4 variant and Rs. 8.49 lac for the Diesel W4 variant (one price applicable across India).

The XUV300’s head-turning, cheetah-inspired design, ‘fun-to-drive’ performance, best-in-segment safety features, first-in-segment hi-tech features and class-defining interiors, make it an exciting & comprehensive package. It will be available in both petrol and diesel engine options.

The XUV300 comes in 3 variants W4, W6 and W8, and one optional pack on the W8 variant. It is available in 6 monotone colours & 2 dual tone colours: Red Rage, Aqua Marine, Sunburst Orange, Pearl White, Napoli Black, D-Sat Silver, Dual Tone White roof on Red Rage and Aqua Marine (only on W8 optional pack).

According to Anand Mahindra, Chairman, Mahindra Group “The XUV brand when launched in 2011 was an inflection moment in our automotive journey. Today, as we launch the XUV300, we take the aspirational levels higher. Based on the X100 platform of SsangYong, the XUV300 is a true blue global product which combines Korean technology with Indian innovation and finesse. The XUV300 would appeal to all, specially today’s millennial, who would cherish the vehicle's funto- drive nature.”

Speaking at the launch, Dr. Pawan Goenka, Managing Director, M&M Ltd. said “The XUV300 is our latest offering in the next generation of aspirational Mahindra vehicles, after the Marazzo and the Alturas G4. XUV300 represents a bold new direction for our automotive products, one that offers our customers unmatched quality and a truly refined user experience. The XUV300 is an all-new product that is built on a global platform that will delight customers.”

Rajan Wadhera, President, Automotive Sector, Mahindra & Mahindra Ltd., mentioned, “The XUV300 is poised to emerge as a winner in the compact SUV segment with its unmatched safety features, impressive drivability & ride comfort, many segment-first hi-tech features, luxurious space to seat 5 people and best-in-segment fit and finish.”

ABOUT THE XUV300

The XUV300 is a potent combination of cheetah-inspired design and breath-taking performance. Armed with free-flowing torque and nimble-footed manoeuvrability, the sheer joy of driving this SUV kicks in the moment you step on the accelerator pedal. All this, and an arsenal of best-insegment safety and technology features, make it one of the most exciting SUVs you’ll find on Indian roads.

The XUV300 shares its platform with the SsangYong Tivoli which is a globally successful product that has sold over 2.6 lakh units in 50+ countries since its launch in 2015. The Tivoli has also received multiple safety and ergonomic awards including a Grade 1 safety award from the 2015 KNCAP (Korean New Car Assessment Program), automotive safety test.

EXHILARATING PERFORMANCE

Heart-stopping exhilaration comes in Petrol & Diesel turbo-charged powertrains that deliver bestin- segment torque. Whatever you choose, the XUV300 promises searing acceleration in an instant. Also, the 6-speed transmission efficiently utilises engine power and torque over a wide operating range, ensuring thrills throughout. That’s not all, the XUV300 offers the perfect balance of comfortable ride and confident handling for unbridled driving pleasure.

1.5L Turbo Diesel engine with electronic variable geometry charger: 85.8KW (115 BHP)power & 300 NM torque
1.2L Turbo Petrol engine: 81KW (110 BHP) power & 200 NM torque
6-speed transmission
First-in-segment Smart Steering System: 3 steering modes allow you to customise the steering effort to suit your driving requirements. With the Comfort mode, glide through city traffic with ease. Or, satiate your need for thrill and adrenaline rush with the Sport mode.

FORTRESS-LIKE SAFETY

The XUV300 offers Best-in-Segment safety features.

First-in-segment 7 airbags including a knee airbag, dual-front, side and curtain airbags
First-in-segment* disc brakes on all 4 wheels (*Among Sub 4 meter Compact SUVs).
First-in-segment front parking sensors
First-in-segment heated ORVMs
Electronic stability program with Dynamic Steering Torque, Hydraulic Brake Assist, Roll-over Mitigation and Traction Control. Together with Hill Start Assist.
ABS & EBD standard across all variants
Front & rear fog lamps
ISOFIX child seat mounts
Tyre-tronics (tyre pressure & temperature monitoring system)
Seat belt reminder for all seats
3-point seat belt on all seats

CUTTING EDGE TECHNOLOGY

The XUV300 is home to an array of hi-tech features that take the driving experience to a whole new level. The XUV300 allows you to adjust the air temperature to create separate, customised environments for the driver and front passenger. With 3 memory slots for your preferred setting, you won't waste time prepping up for your joyride.

First-in-segment Dual-Zone Fully Automatic Temperature Control
17.78 cm (7”) Touchscreen Infotainment system with GPS navigation, Apple Car Play & Android Auto, ECOSENSE Technology with social media connectivity, Micro Hybrid system
Push Button Start/Stop
Rear Parking Camera with dynamic assist & 3 park assist modes
Steering-Mounted Phone & Audio Controls
Blue Sense APP with smart watch connectivity
Cruise control
Auto-dimming IRVM
Multi-colour configurable instrument cluster
Tyre position display

HEAD-TURNING, CHEETAH-INSPIRED DESIGN

With its aggressive front grille, chiselled body and imposing stance, the XUV300 always looks ready to charge. Its projector headlamps and striking LED Daytime Running Lamps leave a lasting impression. While its unique LED tail lamps create an indelible visual signature. Add to this the sporty, 43.18 cm Diamond Cut Alloys, and you have an SUV that meets every demand of the urban jungle, in style.

Stylish dual-tone colours (only on W8 optional pack)
Floating roof design
Striking led DRLs
Aggressive front grille
Unique LED taillamps
Sporty 43.18 cm diamond cut alloys
Classy dual-tone roof rails
Sturdy side cladding

INDULGENT CABIN

Ample space welcomes you inside the XUV300. Its spacious cabin, with Best-in-Segment width of 1,821mm, Longest-in-Segment wheelbase of 2,600mm and a flat floor can comfortably seat 3 passengers in the 2nd row. While the finely crafted, dual-tone dashboard and a sophisticated, electric sunroof with anti-pinch function, elevate the standard of luxury to new heights. Premium leatherette seats with well-designed bolsters, a leather-wrapped steering wheel and a racing ready gear knob await you.

Electric sunroof with anti-pinch function
Premium grey leatherette upholstery
Leather-wrapped steering & gear knob
Dual-tone black & beige dashboard
Height-adjustable driver seat
60:40 2nd row split seat
Flat floor in 2nd row
Adjustable boot floor
Height-adjustable front seat belts
Thoughtful storage spaces: multi-purpose central console storage, illuminated glove box, bottle holders on all doors, cupholders in rear centre armrest

XUV300: SYNOPSIS OF KEY FEATURES

BEST-IN-SEGMENT SAFETY FEATURES:

First-in-segment 7 Airbags, All 4 disc brakes, Front Parking Sensors, Heated ORVMs
Electronic Stability Program with Roll Over Mitigation & Hill Start Assist
ABS & EBD Standard Across All Variants
Front & Rear Fog Lamps
ISOFIX Child Seat Mounts
Tyre-tronics (Tyre Pressure & Temperature Monitoring System)
Seat Belt Reminder For All Seats

BEST IN SEGMENT TORQUE:

Available in Petrol and Diesel engine options
Highest Torque in segment of 300 Nm for Diesel & 200 Nm for Petrol
Segment highest power of 115 BHP from Turbo-charged 1.5L Diesel engine
Comparative power of 110 BHP from Turbo-charged 1.2L Petrol engine
6-speed Transmission

FIRST IN SEGMENT HI-TECH FEATURES:

First-in-segment Dual-zone FATC, Heated ORVMs, Smart Steering System with Normal, Comfort & Sport Modes, ECOSENSE Technology, Micro Hybrid Technology
Electric Sunroof with Anti-Pinch function
17.78 cm Touchscreen Infotainment with GPS Navigation, Apple CarPlay & Android AutoTM
Push Button Start/Stop
Rear Parking Camera With Dynamic Assist
Power Foldable ORVMs with LED Turn Indicators
Steering Mounted Phone/ Audio Controls & Cruise Control
Blue Sense APP with Smart Watch Connectivity
Smart Rain & Light Sensors

CHEETAH-INSPIRED DESIGN:

Aggressive, Chrome Front Grille
Projector Headlamps with Striking LED DRLs & Stylish LED Tail lamps
Sporty 43.18 cm Diamond Cut Alloys
Floating roof design, Classy Dual-Tone Roof Rails & Sturdy Side Cladding

CLASS-DEFINING INTERIORS:

Widest in segment (1,821mm) with longest wheelbase of 2,600mm. Luxurious space for 3 passengers in the rear
Premium Leatherette Upholstery plus Leather-wrapped Steering/ Gear Knob
Chrome Inside Door Handles
Dual-Tone Black & Beige Dashboard
Height-Adjustable Driver Seat
60:40 2nd Row Split seat, Flat Floor In 2nd Row

Social Media Handles:

Please visit: https://mahindraxuv300.com/ for more details and images.

Facebook – @mahindraXUV300
Twitter – @MahindraXUV300
Instagram – @mahindraXUV300
Hashtags – #MahindraXUV300, #XUV300

About Mahindra

The Mahindra Group is a USD 19 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defence, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.

Learn more about Mah..

Tech Mahindra Q3’19 PAT up 28% YoY

Tech Mahindra Q3'19 PAT up 28% YoY

Revenue up 15% YoY and EBITDA up 36% YoY

Mumbai, February 05, 2019: Tech Mahindra Ltd., a leading provider of digital transformation, consulting and business re-engineering services and solutions, today announced the audited consolidated financial results for its third quarter ended Dec 31, 2018.

Financial highlights for the quarter (₹)

Revenue at ₹ 8,944 crore; up 15.0% YoY and up 3.6% QoQ
EBITDA at ₹ 1,723 crore; up 36.2% YoY and 6.4% QoQ

EBITDA margins at 19.3%; up 300 bps YoY and 50 bps QoQ

Consolidated PAT at ₹ 1,203 crore; up 27.5% YoY; and 13.0% QoQ
Earnings per Share (EPS) was ₹ 13.55 for the quarter ended Dec 31, 2018

Financial highlights for the quarter (USD)

Revenue at USD 1,260.8 mn; up 4.3% YoY and up 3.5% QoQ

Revenue growth up 4.3% QoQ, in Constant Currency terms

EBITDA at USD 244.7 mn; up 24.2% YoY and up 7.8% QoQ
Consolidated PAT at USD 171.1 mn, up 16.4% YoY and up 14.5% QoQ

Other Highlights

Total headcount at 121,842; up 3,451 QoQ

Software headcount stood at 71,785; BPO at 43,439

Free cash flow of $ 160.3 mn; cash conversion to PAT at 94%
Cash and Cash equivalent of $ 1,251.8 mn as of Dec 31, 2018
The Active Client count stood at 935 in Q3, up by 5 QoQ

C P Gurnani, Managing Director & Chief Executive Officer, Tech Mahindra said, “This is a milestone quarter for Tech Mahindra with 5 billion dollars annual revenue run rate in sight. The current quarter has been impressive on all fronts, delivering steady growth in Enterprise and Communications business along with margin expansion. Our Run, Change and Grow strategy has helped us deliver a strong 10% sequential growth in digital revenues. We are confident of continuing the growth momentum.”

Manoj Bhat, Chief Financial Officer, Tech Mahindra said, “We continue to improve on our operating metrics across most of our business lines. We have clocked yet another strong quarter, in terms of revenue growth, continued EBITDA margin improvement, cash flow and robust deal wins. This continued thrust on optimization and yield management has helped us achieve margin improvement of 300 bps on a YoY basis.”

Key Wins

Engaged by a leading Telco in UK, as a partner in their transformation journey. Tech Mahindra will be responsible for driving improved customer experience through Next-Gen transformation, Automation and System rationalization.
Bagged a contract from one of the largest banks in the ANZ region for digital channel integration across core banking processes and asset finance.
Selected by a leading provider of jet engines and components for commercial and military aircraft as its partner for digital transformation solutions and cloud migration services, leveraging Tech Mahindra’s delivery excellence.
Awarded a multi-year, multi-million dollar, customer experience transformation deal, by one of the largest Railroad companies in North America for technical infrastructure management and enterprise security, using best-in-class artificial intelligence and automation-based solution.
Selected by a leading healthcare solution and device manager as long-term, strategic partner for engineering services leveraging Tech Mahindra's expertise in Next-Gen technologies.
Engaged by a leading global car manufacturer for complete development, localization and testing of vehicles.
Chosen by a Tier 1 telecom operator in Western Europe for multi pillar-services, including Robotics, Automation, Security, Cloud, and Release management services.
Chosen as a technology partner by one of the largest Global Communication Services Provider in the US for Turnkey services across the life cycle of Site Design, Engineering and Construction.
Engaged by a Tier 1 CSP in North America as a strategic partner for program management, architecture, design and implementation, leveraging latest digital and data analytics technologies.

Business Highlights

Tech Mahindra has launched GAiA – the first enterprise edition of open source Artificial Intelligence (AI) platform Acumos, which will enable enterprises across industry verticals to build, share and rapidly deploy AI-driven services and applications to solve business critical problems.
Tech Mahindra has partnered with H2O.ai, the open source leader in Artificial Intelligence for establishing Center of Excellence to focus on critical industries such as Communications, Media & Entertainment, Healthcare & Life Sciences, and Banking, Financial Services & Insurance.
Tech Mahindra has set up a 'Video Integration and Engineering' (VIE) business unit to leverage cutting-edge technology and solutions to cater to the heavy demand of video services in the 5G ecosystem.
Tech Mahindra and Rakuten Mobile Network Inc. have collaborated for building world-class, next generation (4G & 5G) Software Defined Network laboratories. This lab will be one of its kind in the industry, which will help create next generation of mobile broadband, enabled by 5G, and transformation of industries across the globe.

Awards & Recognition

Tech Mahindra recognized as a leader in group PEAK Matrix™ Report for Automotive & Software Product Engineering Services for their ability to offer large-scale product engineering engagements leveraging their strong project management capabilities and widespread delivery footprint.
Tech Mahindra received IDC Insights Award 2018 for the Chatbot UVO.
Tech Mahindra wins the Best Business Transformation Solution in Energy from the GEC Media Group.
Tech Mahindra’s CEO recognized for his significant contribution to the company's strategy and philosophy, by the jury of the 14th Indo-American Corporate Excellence (I-ACE) Awards.
Tech Mahindra has emerged as one of the Top 10 Best Companies for Women in India in the 2018 Working Mother & AVTAR 100 Best Companies List.
Tech Mahindra gets the “Best International Organization in Skill Development” in the ASSOCHAM Skilling India Awards -2018.

About Tech Mahindra

Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise™. We are a USD 4.9 billion company with 121,840+ professionals across 90 countries, helping over 935 global customers including Fortune 500 companies. Our convergent, digital, design experiences, innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value and experiences to our stakeholders. Tech Mahindra is the highest ranked Non-U.S. company in the Forbes Global Digital 100 list (2018) and in the Forbes Fab 50 companies in Asia (2018).

We are part of the USD 21 billion Mahindra Group that employs more than 200,000 people in over 100 countries. The Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, after-market, information technology and vacation ownership.

Connect with us on www.techmahindra.com || Our Social Media Channels
Facebook
Twitter
Linkedin
Youtube

For Further Queries:

Jaidev N. Iyengar
Head – Investor Relations
Phone: +91 99234 53008
Landline – + 91 22 28468510
Email: aidev@techmahindra.com

Kavya Bagga
Investor Relations
Phone: +91 70660 07951
Email: kavya.bagga@techmahindra.com investor.relations@techmahindra.com

Tuhina Pandey
Head – Corporate Communications
Phone: +91 98204 97890
Email:tuhina.pandey@TechMahindra.com

Abhilasha Gupta
Corporate Communications
Phone: +91 97179 46080
Email: abhilasha.gupta@techmahindra.com Media.relations@techmahindra.com

Disclaimer

Certain statements in this release concerning the future prospects of Tech Mahindra Limited (“the Company” or “TechM”) are forward-looking statements. These statements by their nature involve risks and uncertainties that could cause Company’s actual results differ materially from such forward-looking statements. The Company, from time to time, makes written and oral forward-looking statements based on information available with the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.

ORIGINS by Mahindra World City, North Chennai signs Japanese conglomerate Yanmar Group as its first customer

~ Yanmar Group to establish its first manufacturing facility at ORIGINS, North Chennai

Chennai, 25th January, 2019: Mahindra Industrial Park Chennai Limited (MIPCL), a joint venture between Mahindra World City Developers Limited and Sumitomo Corporation of Japan, today announced the signing of Yanmar Group as its anchor customer at ORIGINS by Mahindra World City, North Chennai. Yanmar Group, an over 100-year-old business group from Japan, will establish a diesel engine manufacturing facility in ORIGINS, North Chennai, to cater to original equipment manufacturers (OEM) in the Indian construction and agriculture sectors. The facility is expected to be operational by 2020.

ORIGINS by Mahindra World City comprises industrial clusters of international standards, spanning 250 – 600 acres and located in high growth corridors across India. Located on NH16, Phase 1 of ORIGINS by Mahindra World City, North Chennai spans 264 acres and is currently at advanced stages of development, with all approvals in place. The project is expected to generate direct employment for 7000 persons when fully completed. Companies based out of ORIGINS, North Chennai can go to market faster and avail all the benefits of clear land titles; plug-and-play infrastructure; in-house expertise in operations and security; and a range of business support services. ORIGINS, North Chennai incorporates environment-friendly and smart monitoring systems for operations & maintenance

Ms. Sangeeta Prasad, Managing Director and CEO, Mahindra Lifespace Developers Ltd., said, “We are delighted to welcome Yanmar Co., Ltd, one of Japan’s most respected companies and a global leader in diesel engine manufacturing, to ORIGINS by Mahindra World City, North Chennai. We remain committed in our endeavour to create efficient industrial ecosystems which enable employment and investment.”

Mr. Hajime Hirai, Director and General Manager, Yanmar Engine Manufacturing India Pvt. Ltd., said, “India is a high-potential growth market for the Yanmar Group. and for our first manufacturing facility in the country, we were seeking an ideal blend of modern infrastructure, strategic connectivity and supporting social amenities. The self-sufficient ecosystem at ORIGINS, North Chennai will help us rapidly scale our operations and attract the right talent. Yanmar is proud to be the first partner for the ORIGINS growth story in India.”

Mr. Yasushi Fukuda, Executive Officer and General Manager, Logistics Infrastructure Business Division, Sumitomo Corporation , said, “Tamil Nadu is one of the most preferred destinations for Japanese investment in India and the presence of ORIGINS by Mahindra World City, North Chennai will strengthen the state’s attractiveness as an innovation and manufacturing hub. Yanmar Group’s presence here will accelerate job creation opportunities and local community development.”

About Mahindra Lifespace Developers Ltd.

Established in 1994, Mahindra Lifespace Developers Ltd. is the real estate and infrastructure development business of the USD 20.7 billion Mahindra Group, and a pioneer of sustainable urbanisation in India. The Company is committed to transforming India's urban landscape through its residential developments under the ‘Mahindra Lifespaces’ and 'Happinest' brands; and through its integrated cities and industrial clusters under the 'Mahindra World City’ and 'ORIGINS by Mahindra World City' brands.

Mahindra Lifespaces delivers innovative customer-focused solutions that are rooted in a legacy of trust and transparency. The Company's development footprint spans 23.8 million sq. ft. (2.2 million sq. m.) of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5000 acres of ongoing and forthcoming projects under development/management at its integrated developments/ industrial clusters in four cities.

A pioneer of the green homes movement in India, Mahindra Lifespaces has been ranked 4th in Asia in its category, in the '2017 GRESB Real Estate ESG (Environmental, Social and Governance) Assessment'. The Company has also been ranked 22nd amongst India's great mid-size workplaces – 2018, by the Great Places To Work Institute

About Mahindra

The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, aerospace, commercial vehicles, components, defense, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise

For further enquiries please contact:

Pramuch Goel
General Manager, Group Communications, Mahindra Group
Tel: +91 22 2490 5943
Email: goel.pramuch@mahindra.com

Mahindra Finance F-2019 Q3 Standalone Results

Mahindra Finance

Standalone Results December 2018

Income up by 30% YoY, at Rs.6,334 Crores

PAT up by 36% YoY, at Rs.969 Crores

Disbursement up 33% YoY, at Rs.34,485 Crores

AUM up by 30% YoY, crosses Rs.63,000 Crores

Mumbai, January 25, 2019: The Board of Directors of Mahindra & Mahindra Financial Services Limited(Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the standalone unaudited financial results for the third quarter and nine-month period ended December 31, 2018.

In line with direction from Ministry of Corporate Affairs, the Company has adopted Indian Accounting Standards (Ind AS) with effect from April 1, 2018. Results for the quarter and nine-month period ended are prepared and reported in compliance with Ind AS requirements. The figures for the same quarter and period previous year have also been restated as per Ind AS.

F-2019 YTD Dec 18 Results

The Total Income increased by 30% at Rs.6,334 Crores during the nine-month period ended December 31,2018, as against Rs.4,879 Crores in the corresponding period last year. The Profit After Tax (PAT) stood at Rs.969 Crores during the nine-month period ended December 31, 2018, as against Rs.762 Crores during the corresponding period last year. The PAT for the period nine-month ended December 31, 2017 included an exceptional item on account of sale of shares in the subsidiary company, Mahindra Insurance Brokers Ltd. of Rs.50 Crores (Post Tax). The PAT without considering the exceptional item registered a growth of 36% over the same period previous year.

F-2019 Q3 Results

The Total Income increased by 23% at Rs.2,246 Crores during the quarter ended December 31, 2018, as against Rs.1,831 Crores in the corresponding period last year. The Profit After Tax (PAT) stood at Rs.319 Crores during the quarter ended December 31, 2018, as against Rs.396 Crores during the corresponding period last year. The PAT for the quarter ended December 31, 2017 included an exceptional item on account of sale of shares in the subsidiary company, Mahindra Insurance Brokers Ltd. of Rs.50 Crores (Post Tax). The PAT without considering the exceptional item was down by 8% over the same period previous year.

Operations

During the period ended December 31, 2018, the Company’s customer base has crossed 5.9 Million.

The Total value of assets financed for the nine-month period ended December 31, 2018, was Rs.34,485 Crores as against Rs.25,912 Crores during the same period previous year, registering a growth of 33%.

The Total Assets Under Management (AUM) stood at Rs.63,073 Crores as on December 31, 2018, as against Rs.48,332 Crores in the corresponding period last year, registering a growth of 30%.

Impairment provisioning is done as per Expected Credit Loss (ECL) method prescribed in lnd AS, which requires provisioning in three stages. The company has considered all loan accounts with an ageing of above 90 days under Stage 3 (Impaired assets).

The Gross Stage 3 levels have gone down to 7.7% for the quarter ended December 31, 2018, from 12.3% during the corresponding quarter last year. The Net Stage 3 levels have gone down to 5.8% for the quarter ended December 31, 2018, from 8.2% during the corresponding quarter last year. The Stage 3 provisioning coverage ratio stood at 26.9%.

The Company's capital and debt position is strong and the ALM position is well balanced. The Company is confident of meeting its obligations towards discharging its liabilities.

SUBSIDIARIES

Mahindra Insurance Brokers Limited (MIBL)

During the quarter ended December 31, 2018, MIBL registered income at Rs.81.8 Crores as against Rs.61.8 Crores, registering a growth of 32% over the same period previous year. The Profit After Tax (PAT) registered was Rs.18.2 Crores as against Rs.8.8 Crores, registering a growth of 106% over the same period previous year.

During the nine-month period ended December 31, 2018, MIBL registered Income at Rs.223.7 Crores, as against Rs.156.8 Crores, registering a growth of 43% over the same period previous year. The Profit After Tax (PAT) was Rs.44.8 Crores as against Rs.31.0 Crores, registering a growth of 45% over the same period previous year.

Mahindra Rural Housing Finance Limited (MRHFL)

During the quarter ended December 31, 2018, MRHFL registered income at Rs.393.4 crores as against Rs.273.8 crores, a growth of 44% over the same period previous year. The Profit After Tax (PAT) registered was Rs.77.6 Crores as against Rs.53.2 Crores, registering a growth of 46% over the previous period.

During the nine-month period ended December 31, 2018, MRHFL registered income at Rs.1,030.2 crores as against Rs.747.0 crores, a growth of 38% over the previous period. The Profit After Tax (PAT) was Rs.168.5 Crores as against Rs.127.6 Crores, registering a growth of 32% over the previous period. MRHFL disbursed Rs.1,776.8 Crores as against Rs.1,759.9 Crores during the previous period, registering a growth of 1% over the previous year same period.

Mahindra Asset Management Company Private Limited (MAMCPL)

During the quarter ended December 31, 2018, MAMCPL earned revenues of Rs.4.4 Crores as compared to Rs.6.4 Crores in the same period previous year. The company incurred a loss of Rs.14.08 Crores compared to a loss of Rs.6.5 Crores during the same period previous year.

During the nine-month period ended December 31, 2018, MAMCPL earned revenues of Rs.23.5 Crores as compared to Rs.15.5 Crores in the same period previous year. The company incurred a loss of Rs.31.8 Crores compared to a loss of Rs.23.9 Crores during the same period previous year.

The Average Assets under Management (AUM) of MAMCPL for the quarter ended December 31, 2018 was Rs. 3,756 Crores across eight schemes which showed a growth of 34% over the same period previous year. Of these assets, MAMCPL managed Rs.1,310 crores of average equity assets in the quarter ended December 31, 2018 which compared to Rs.735 Crores in the same quarter last year. The number of client accounts as on December 31, 2018, increased to 150,326 of which 43,163 were investing via Systematic Investment Plans.

Mahindra Finance USA, LLC (MFUSA)

During the quarter ended December 31, 2018, MFUSA registered income at USD 16.9 Million as against USD 14.3 Million, registering a growth of 18 % over the same period previous year. The Profit After Tax (PAT) registered was USD 2.5 Million as against USD 1.5 Million, registering a growth of 67% over the same period previous year.

During the nine-month period ended December 31, 2018, MFUSA registered income at USD 50.4 Million as against USD 41.4 Million, registering a growth of 22 % over the same period previous year. The Profit After Tax (PAT) registered was USD 10.4 Million as against USD 6.7 Million, registering a growth of 55 % over the same period previous year.

About Mahindra & Mahindra Financial Services Limited

Mahindra & Mahindra Financial Services Limited (Mahindra Finance), part of the Mahindra Group, is one of India's leading non-banking finance companies. Focused on the rural and semi-urban sector, the Company has over 5.9 Million customers and has an AUM of over USD 9 Billion. The Company is a leading vehicle and tractor financier and also offers fixed deposits and loans to SMEs. The Company has 1,313 MMFSL offices and reaches out to customers spread over 3,50,000 villages and 7,000 towns across the country.

Mahindra Finance is the only Non-Banking Finance Company from India to be listed on the Dow Jones Sustainability Index in the Emerging Market Category. Mahindra Finance has been ranked 14th on the list of India's Best Companies to work for – 2018, by Great Place to Work® Institute. The Company has also been recognized among the Best BFSI Brands 2018 by The Economic Times.

The Company's Insurance Broking subsidiary, Mahindra Insurance Brokers Limited (MIBL), is a licensed Composite Broker providing Direct and Reinsurance broking services.

Mahindra Rural Housing Finance Limited (MRHFL) a subsidiary of Mahindra Finance provides loans for purchase, renovation, construction of houses to individuals in the rural and semi-urban areas of the country.

Mahindra Asset Management Company Private Limited (MAMCPL), a wholly-owned subsidiary of Mahindra Finance, acts as the Investment Manager of Mahindra Mutual Fund.

The Company has a JV in US, Mahindra Finance USA LLC, in partnership with De Lage Landen, a subsidiary of Rabo Bank, for financing Mahindra tractors in US.

About Mahindra

The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, components, commercial vehicles, speedboats, consulting services, energy, industrial equipment, logistics, real estate, steel, aerospace, defence and two wheelers. Headquartered in India, Mahindra employs over 240,000 people across 100 countries.

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise

Media Contact information:

Metabelle Lobo
GM, Group Communications
Mahindra & Mahindra Limited
Tel: +91 22 24975178
Mobile: +91 9769212078
Email: lobo.metabelle@mahindra.com

Tech Mahindra to Fuel Digital Growth in Bangladesh

Company plans to scale up operations in the country to deliver next generation technology solutions and service offerings across sectors

Dhaka, New Delhi – January 21, 2019: Tech Mahindra, a leading provider of digital transformation, consulting and business re-engineering services, which already has a considerable presence in the Bangladesh IT industry, will fuel digital growth in Bangladesh across government and private sectors. Tech Mahindra plans to address the growing business opportunities that have come up with the booming IT market in the country through its innovative next generation technology solutions and service offerings.

Tech Mahindra currently offers a diverse range of professional services to clients in the Telecom and BFSI (Banking, Financial Services and Insurance) space in Bangladesh and is also running large scale operations in the financial inclusion space. As part of its expansion strategy, Tech Mahindra aims to focus on generating new revenue streams through digital transformation projects in both Government as well as private sector across various industries with focus on ICT (Information and Communications Technology) & government business.

Sujit Baksi, President, Corporate Affairs, Tech Mahindra, said, “Driven by strong domestic demand and macroeconomic stability, Bangladesh has emerged as one of the most buoyant economies of the SAARC region. Adding fuel to that fire, is the rapidly growing communication landscape that has thrived with increased Internet connectivity, smart mobility and rise of digital media. We at Tech Mahindra, are bullish on the strong growth potential of this market and hope to leverage our digital expertise in pushing forward the “Digital Bangladesh mandate.”

“Creating jobs, boosting investments, diversifying exports and building human capital will be the key focus areas for the Bangladesh economy to sustain itself in the coming years. We look forward to collaborate with the country in its pursuit of a 'Developed Bangladesh' agenda and we hope to forge formidable partnerships with local businesses in the region to nurture and utilize local talent pool to make the most of this opportunity,” he further added.

With a sustained GDP (Gross Domestic Product) growth rate of more than 7%, rising per capita income and improved social indicators, Bangladesh has become one of Asia's most remarkable success stories in recent years. With over 9% increase in GDP growth rate forecasted in the next five years, Bangladesh's dynamic and growing economy, booming IT market and strategic location next to India, China and the ASEAN markets, provides the perfect opportunity for Tech Mahindra to expand its operations in the country, as well as generate revenues from the SAARC region.

As part of the TechMNxt charter, Tech Mahindra aims to leverage its global expertise in the use of cutting-edge digital technologies such as Blockchain, 5G – Telecom of the Future, Artificial Intelligence, Automation, Robotics, and Internet of Things to develop solutions that cater to the rapid evolving needs of the consumers in Bangladesh.

Tech Mahindra already has a sizable presence in Bangladesh along with its subsidiary, Mahindra Comviva, which has an extensive portfolio spanning mobile finance, content, infotainment, messaging and mobile data solutions. As part of the USD 21 billion Mahindra Group – a major player in the Bangladesh market across various sectors since the past 20 years – Tech Mahindra aims to leverage the footprints of its parent organization to scale up its operations in the country.

About Tech Mahindra

Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise™. We are a USD 4.9 billion company with 118,390+ professionals across 90 countries, helping over 930 global customers including Fortune 500 companies. Our convergent, digital, design experiences, innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value and experiences to our stakeholders. Tech Mahindra is the highest ranked Non-U.S. company in the Forbes Global Digital 100 list (2018) and in the Forbes Fab 50 companies in Asia (2018).

Connect with us on www.techmahindra.com || Our Social Media Channels
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Twitter
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For more information on Tech Mahindra, please contact:

Tuhina Pandey,
Global Corporate Communications
Agency contact if any
Email: media.relations@techmahindra.com;
Tuhina.Pandey@TechMahindra.com

Mahindra Electric launches NEMO Life

Celebrates over 100 million e-Kilometres on Indian Roads

Bengaluru, January 16, 2019: Mahindra Electric, a leader in the development and manufacturing of electric vehicles (EV) & technologies and a part of the USD 20.7 billion Mahindra Group, today launched the all new 'Next-Generation Mobility app' – NEMO Life. This announcement coincides with the completion of over 100 million electric kilometres by Mahindra EVs on Indian roads.

Mahindra Electric has studied the usage pattern of EVs in India for 100 million ekm and has conceptualised the perfect Connected Mobility solution that will allow personal users to take control of their mobility, including the EV ecosystem, with the touch of a finger.

Incorporating valuable feedback from its customers, Mahindra Electric, undertook the study of EV usage patterns and various parameters including, but not limited to, the charging cycle, real-time driving data, vehicle controls, etc. The company has used its learnings to develop many unique first-in-segment features on the NEMO Life Mobile App, with the aim of making mobility – Clean, Connected and Convenient.

The 100 million plus eKilometers done by Mahindra's electric vehicles has helped save over 11,000 metric tons of CO2 emissions in India. This translates into the need to plant over 5 lakh trees to absorb the equivalent levels of emission. This milestone marks a shift toward a greener future, as India readies itself to embrace electric mobility.

Speaking on this milestone, Mahesh Babu, CEO, Mahindra Electric said “I would like to thank all our customers, dealers and all stakeholders for their continuous support that has helped us to become India's first automaker to complete over 100 million electric Kilometres. To put this number into perspective, one can imagine going around the earth 2,500 times. The learnings from this milestone have gone into the creation of the NEMO Life app for our personal car users, for them to experience the very best of connected electric mobility.”

Mr. Babu further added, “It took 4 years for our electric cars to complete the first 50 million eKms and now the second 50 million eKms milestone is achieved in less than two years. This indicates that the pace of adoption of EVs is increasing in India and once again affirms Mahindra’s role in moving the world towards electric mobility.”

With over 40* new features NEMO Life is set to usher in a modern era of Clean, Connected and Convenient mobility. NEMO Life 'Next-Generation Mobility' is aimed at delivering an advanced gamut of connected mobility experiences. It is based on NEMO, a cloud based platform that enables a new generation of shared and connected services to enhance urban electric mobility.

Under the NEMO brand, Mahindra Electric already has NEMO Driver and NEMO Commuter mobile apps along with NEMO Integrated Mobility Centre for our fleet customers. NEMO Life will now help personal electric car users to overcome some of the major barriers to adoption of EVs such as range anxiety, battery performance, and multiple user management, among others.

It provides deep insights into the vehicle performance and delivers essential vehicle control to the users'. The new mobile app sets a benchmark in the connected mobility space and is available to download on both the iOS and Android platforms.

Download the NEMO Life Mobile App now:

Android Play Store

Apple App Store

Customer Benefits of NEMO Life :

Convenience:

Manage multiple users, cars through one app, get reminders to charge your car, and insights into your driving and charging performance.

Safety and Security:

Manage multiple verified users for your car through user authentication. Get alerts for unlocked doors & handbrake not engaged.

Control:

Remotely access your car – lock/unlock doors, start or stop charging or even check your cabin temperature and remotely control the A/C unit.

Good Bye Range Anxiety:

Check if your car can complete your planned trip or how much more charge you need to reach your destination. Forget range anxiety with all the information right on your fingertips, just tap and drive.

Assistance:

Get 24×7 road side assistance and extra emergency range with REVive.

Social:

Doing your bit for the environment? Let your friends and family know about it! Easy login into NEMO Life with your social profiles and share eco-savings and contributions.

About Mahindra Electric

Mahindra Electric, a part of the USD 20.7 billion Mahindra Group is a global pioneer in the development and production of electric vehicles. Mahindra Electric is India's only EV manufacturer with indigenously developed EV technologies that have won global accolades. The Mahindra Group has one of the most diversified portfolios of electric vehicles with the e2oPlus hatch, the eVerito sedan and the eSupro mini-van and Mahindra Treo range of three-wheelers.

Pushing the limits of technology and innovation, Mahindra has acknowledged the need to redefine mobility at every step. This has led to a vision with a desire to transform; a vision which provides an imagination which is more sustainable and more dependable. Venturing into the paradigm of alternative technology has helped Mahindra enable a clean, green and a smarter tomorrow.

About Mahindra Group

The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company, by volume. It also enjoys a strong presence in agribusiness, components, commercial vehicles, speedboats, consulting services, energy, industrial equipment, logistics, real estate, steel, aerospace, defence and two wheelers. Headquartered in India, Mahindra employs over 240,000 people across 100 countries.

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise

Media contact information:

Mohan Nair
Vice President (Communications)
Mahindra & Mahindra Ltd.
Landline – + 91 22 28468510
Email: nair.mohan@mahindra.com

Mahindra Opens XUV300 Bookings

Launch in February 2019

Key Highlights:

Available with both Petrol & Diesel options with best-in-class torque of 300 Nm for Diesel & 200 Nm for Petrol engines
Offers Best-in-Class safety with 7 Airbags & first-in-class hi-tech features such as Dual-Zone Fully Automatic Climate Control and Front Parking Sensors
To be available in 3 variants and 1 optional pack

Mumbai, January 9, 2019: Mahindra & Mahindra Ltd. (M&M), a part of the US $20.7 billion Mahindra Group, announced that bookings for the XUV300, its stylish new Compact SUV model, would begin at Mahindra dealerships across India from today. The eagerly awaited XUV300 will be launched in February 2019.

Veejay Ram Nakra, Chief of Sales & Marketing, M&M Ltd. said “The XUV300 is a very exciting & comprehensive package that will compete with SUVs in the Rs.8-12 Lakh (ex-showroom) price range. The XUV300 promises not just the most fun-to-drive performance in the segment, but also first-in-class hi-tech features & best-in-class safety. Its 7 airbags are the highest number offered on any 5-seater, not just in the Compact SUV segment, but also in the mid-size sedan segment. Segment-first features such as Dual-zone Fully Automatic Climate Control and Front Parking Sensors are thoughtful new features keeping consumer expectations in mind. We are certain that the XUV300 will help us redefine the growing Compact SUV segment in India.”

The XUV300 will offer an exciting and unbeatable combination of head-turning & cheetah-inspired design, 'fun-to-drive' performance, first-in-class hi-tech features, best-in-class safety and class-defining interiors.

Head-turning, Cheetah-inspired Design

The XUV300's headlamps integrate with the fog lamps forming a Cheetah-like tear-duct, while the pronounced wheel arches are inspired from the muscular haunches of the Cheetah. Its modern grille, sculpted bonnet, pronounced shoulder & body lines, along with its elevated stance, give the XUV300 a bold and charismatic road presence. The dual LED DRLs and bold LED tail lamps, create an indelible visual signature.

Fun-to-drive performance

The XUV300 will come with both Petrol and Diesel engine options and will deliver a thrilling, fun-to-drive performance. The new model will offer segment-leading torque of 300 Nm for the 1.5L Diesel engine & 200 Nm for the 1.2L Petrol engine.

Best-in-class Safety

The XUV300 will be the first compact SUV to offer 7 airbags, including a knee airbag for the driver, ensuring complete safety for all the occupants. The XUV300 will also offer disc brakes on all 4 wheels as standard on all variants.

First-in-class Hi-Tech features

It will offer segment-first features like Dual-zone Fully Automatic Climate Control & Front Parking Sensors.

Class-defining interiors

The XUV300 will offer best-in-class width & the longest wheelbase creating ample space inside its cabin to comfortably seat 5 adults. The XUV300's premium leatherette seats, stylish dual-tone dashboard and an electric sunroof, make the in-cabin experience exciting and comfortable.

The XUV300 will be available in 3 variants – W4, W6 & W8. Features like Airbags, ABS, Disc Brakes on all four wheels, 6 Speed Transmission, LED tail lamps, all 4 Power windows, etc., will be standard across all variants. In addition, the XUV300 will also come with an option pack variant – W8 (O) – which would have additional technology and safety features.

The XUV300 will be built at the company's manufacturing facility at Nashik in Maharashtra and will be launched in February 2019. Bookings for the XUV300 would be open at Mahindra Dealerships across India and the official brand website, starting today.

Social Media Addresses for Mahindra XUV300:

Brand website – www.mahindraXUV300.com
Facebook – @mahindraxuv300.official
Twitter – @Mahindra_XUV300
Instagram – @mahindraxuv300
Hashtags – #MahindraXUV300

About Mahindra

The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world's largest tractor company, by volume. It also enjoys a strong presence in agribusiness, components, commercial vehicles, consulting services, energy, industrial equipment, logistics, real estate, steel, aerospace, defence and two wheelers. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise

Media contact information:

Mohan Nair
Vice President (Communications)Mahindra & Mahindra Ltd.
Office Direct Line – + 91 22 28468510
Office Email Address – nair.mohan@mahindra.com

Mahindra Marazzo introduces 8-seater on top-end M8 variant

Mumbai, January 14, 2019: Mahindra & Mahindra Ltd. (M&M), part of the USD 20.7 billion Mahindra Group, today announced the introduction of the 8-seater option on the top-end M8 variant of its recently-launched Marazzo.

According to Veejay Nakra, Chief of Sales and Marketing – Automotive Division, Mahindra & Mahindra Ltd., “The globally engineered Marazzo has generated a lot of interest among buyers. This is due to its unique architecture that offers the best of both worlds in the form of car-like ride and handling coupled with the toughness and stability of a body-on-frame construction. The inclusion of the 8-seater option on the top-end M8 variant will further widen the Marazzo’s appeal.”

The M8 variant offers many top-of-the-line features including a 7-inch touch screen infotainment system with Capsense & Haptics technology, Android Auto and Apple CarPlay, a reverse parking camera with dynamic guidelines, 17-inch alloy wheels, Daytime Running Lamps (DRLs), faux leather seats and window-mounted sunshades for second-row passengers. The M8 8-seater will be priced at Rs. 8,000 more than the M8 7-seater.

The Marazzo is engineered in collaboration with the Mahindra North American Technical Centre and Mahindra Research Valley (Chennai) and is co-designed by the Mahindra Design Studio and the legendary Italian design house Pininfarina, making it a globally engineered product. Its superior value proposition includes a bold, aerodynamic design, smooth ride, agile handling, luxurious space, the quietest cabin in its class and the industry-first Surround Cool Technology.

About Mahindra

The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world's largest tractor company, by volume. It also enjoys a strong presence in agribusiness, components, commercial vehicles, consulting services, energy, industrial equipment, logistics, real estate, steel, aerospace, defence and two wheelers. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise

Media contact information:

Mohan Nair
Vice President (Communications)Mahindra & Mahindra Ltd.
Office Direct Line – + 91 22 28468510
Office Email Address – nair.mohan@mahindra.com

MAHINDRA MAKES DEBUT AT NORTH AMERICAN INTERNATIONAL AUTO SHOW 2019

AUBURN HILLS, Mich., January 7, 2019 — Mahindra Automotive North America (MANA), which recently opened the first manufacturing facility in Metro Detroit in 25 years, announced today it will participate with a main floor display in the 30th Anniversary of the North American International Auto Show (NAIAS), held January 14-27, 2019, at Cobo Center in Detroit.

NAIAS features the world's automotive and mobility leaders, showcasing the latest vehicles, products and technology. Mahindra's 2019 debut at the show includes a main floor display that will highlight the company’s new Michigan manufacturing facility and its automotive products, including the ROXOR off-road vehicle.

“We are very excited to be a part of the North American International Auto Show,” Rick Haas, President & CEO, Mahindra Automotive North America, said. “This event showcases the influence that Detroit and Michigan have on the global transportation industry today — particularly relevant as the world transitions to a new mobility model, and as the Detroit area automotive 'machine' gears up to drive these changes. With Mahindra now a part of the Detroit area automotive landscape, the NAIAS gives us an opportunity to highlight our Michigan-based team and our new manufacturing operation. Today, just over 5 years since the opening of our first Detroit office, this team is fully engaged in the business of envisioning, engineering and producing innovative transportation products for U.S. as well as global markets – helping Mahindra become 'the' brand of choice for mobility in the future.”

Mahindra will exhibit in the center of the main floor at NAIAS with a display of its newest vehicles with a special focus on those that are engineered and built in Michigan by their team of 425 employees. While providing visitors an excellent opportunity to get up-close with Mahindra's ROXOR off-road vehicle, the NAIAS also serves as a platform on which to detail how Mahindra's talented Michigan-based team is making a global impact.

A FOCUS ON MICHIGAN

Mahindra will debut two new ROXOR demo vehicles at the show. One will be an interactive vehicle featuring an augmented reality station that will allow customers to visualize some of the hundreds of custom colors and wraps the vehicle can be ordered with. The company will also display a work-oriented demo with unique features and capabilities targeted to users who need a rugged and durable vehicle for tough jobs. The ROXOR offers a heavy-duty Mahindra turbo-diesel 4-cylinder engine, four-wheel drive, a boxed steel frame, and an automobile style 5-speed manual transmission in a straightforward and rugged design, creating a whole new category in the fast-growing side X side segment.

SHOWCASING ENGINEERING CAPABILITIES

The display will also feature the brand-new Mahindra Marazzo, an innovative euro-style people mover, engineered from the ground up on a patented architecture by the Mahindra team at their Auburn Hills Headquarters. The vehicle, which was designed for global markets, was recently launched in India to glowing reviews.

Mahindra will also be displaying its zero emission GenZe e-scooter and e-bike engineered and assembled in Ann Arbor, Michigan.

MEDIA AVAILABILITIES

Mahindra Automotive invites journalists to individual meetings with company leadership, including Rick Haas, President & CEO Mahindra North America. Interviews are being scheduled for the afternoon of Tuesday, Jan. 15 and for the morning of Wednesday, Jan. 16, 2019 and by appointment.

To make an appointment at NAIAS journalists are asked to contact Melissa Bunker at 586.219.0094 or mbunker@campbellmarketing.com.

ABOUT MAHINDRA AUTOMOTIVE NORTH AMERICA

Mahindra Automotive North America (MANA) is the North American headquarters of the $20.7 billion MahindraGroup's automotive division. Established in 2013, MANA now employs over 400 people, and became the first automotive OEM to launch a manufacturing operation in SE Michigan in over 25 years when it began producing the ROXOR off-road vehicle earlier this year in Auburn Hills, MI. Working with affiliate Mahindra teams in India, Italy and Korea, MANA also continues to fulfill its mission as a center of automotive engineering excellence, which includes automotive design, engineering and vehicle development, and is led by a team of veteran industry executives, engineers and designers.

For more information, visit www.mahindraautomotivena.com and www.roxoroffroad.com

About Mahindra

The Mahindra Group is a USD 20.7 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It has a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world's largest tractor company, by volume. It also enjoys a strong presence in agribusiness, components, commercial vehicles, consulting services, energy, industrial equipment, logistics, real estate, steel, aerospace, defence and two wheelers. Headquartered in India, Mahindra employs over 2,40,000 people across 100 countries.

Learn more about Mahindra on www.mahindra.com

Tech Mahindra Launches GAiA – First Enterprise Edition Open Source AI Platform, Powered by Acumos

GAiA to enable enterprises across industry verticals to build, share and rapidly deploy AI-driven services and applications to solve business critical problems

Dallas, New Delhi – December 26 2018: Tech Mahindra Ltd. a leading provider of digital transformation, consulting and business re-engineering services and solutions, today announced the launch of visit GAiA – the first enterprise edition of open source Artificial Intelligence (AI) platform Acumos. GAiA will enable enterprises across industry verticals to build, share and rapidly deploy AI-driven services and applications to solve business critical problems.

GAiA will also provide support to enterprises in adopting open source AI platform offerings to implement custom use cases, models and integration services. It will be available for commercial purpose and will support open source distribution as well. The various industry solutions and the existing marketplace in GAiA will further be enriched through collaboration with academia, third-party Machine Learning developers and companies.

Manish Vyas , President , Communications , Media & Entertainment Business , and the CEO , Network Services , said, “As part of our TechMNxt charter, Tech Mahindra is committed to leveraging next generation technologies like Artificial Intelligence (AI) to solve real business problems of our customers. The need of the hour is to democratize our knowledge and expertise in AI and make it universally accessible. GAiA is a step in that direction and we believe that it will be the change agent to drive digital transformation journey of our customers.”

The platform is available in Beta and hosts a marketplace of Machine Learning (ML) models that can be applied to popular use cases in many industry verticals.

Andre Fuetsch, president , AT&T Labs , and chief technology officer at AT&T , said, “Our goal in launching the Acumos AI project was always to see it become an open platform to accelerate innovation in the AI ecosystem, and we are pleased to see that vision taking shape. GAiA, powered by Acumos, looks set to help broaden AI's reach even further and make it accessible to everyone.”

Ibrahim Haddad , Director of Research at The Linux Foundation , said, “Tech Mahindra has been a leader in the development of the Acumos AI platform, as well as the LF Deep Learning Foundation and open source generally. We are excited to see Tech Mahindra use Acumos in a real world solution, and look forward to seeing adoption of Acumos continue to grow.”

The launch of the GAiA platform is in line with Tech Mahindra’s TechMNxt charter which focuses on leveraging next generation technologies like Artificial Intelligence to address real world problems and meet the customer’s evolving and dynamic needs.

About Tech Mahindra

Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise™. We are a USD 4.9 billion company with 118,390+ professionals across 90 countries, helping over 930 global customers including Fortune 500 companies. Our convergent, digital, design experiences, innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value and experiences to our stakeholders. Tech Mahindra is the highest ranked Non-U.S. company in the Forbes Global Digital 100 list (2018) and in the Forbes Fab 50 companies in Asia (2018).

Connect with us on www.techmahindra.com || Our Social Media Channels
Facebook
Twitter
Linkedin
Youtube

For more information on Tech Mahindra, please contact:

Tuhina Pandey,
Global Corporate Communications
Email: media.relations@techmahindra.com;
Tuhina.Pandey@TechMahindra.com