Mahindra Group plans to invest nearly Rs 40,000 cr in Karnataka: Anand Mahindra
Bengaluru, Feb 11 (PTI): Mahindra Group Chairman Anand Mahindra on Tuesday announced that the group plans to invest nearly Rs 40,000 crore in Karnataka over the next few years.
Speaking at the inaugural session of the Invest Karnataka-2025 summit, he said the Mahindra Group has no hesitation in investing in long-term businesses such as renewable energy, aerospace, hospitality, and real estate in Karnataka.
"It gives me great pleasure to state here today that the Mahindra Group is planning close to Rs 40,000 crore of investment in Karnataka in the coming years," Anand Mahindra said.
He noted that Karnataka plays a vital role in the group's renewable energy portfolio. Mahindra Susten intends to invest Rs 35,000 crore to develop over five gigawatts of solar and hybrid projects over the next five years, generating 6,000-8,000 new jobs.
Mahindra Holidays already operates several resorts in Karnataka and is evaluating further expansion into areas like Gokarna and Hampi.
Anand Mahindra said, "We intend to invest an additional Rs 1,000 crore and are in discussions with government officials. I look forward to their support, particularly regarding land aggregation."
He also stated that Mahindra Defence Services and Mahindra Aerospace are exploring strategic expansion opportunities in the state, with investments of several hundred crores planned.
As a key step in the group's mission to electrify India's last-mile industry, Karnataka serves as the hub for Mahindra's ambition to remain the market leader in the electric three-wheeler space, he said. The company has filed 60 patent applications, 54 trademarks, and 16 design registrations from the state.
"Our last-mile mobility business is deeply rooted in Karnataka, with its R&D, product development, and manufacturing units based here," he added.
Mahindra Lifespaces, the group's real estate arm, is currently developing projects worth over Rs 5,000 crore in Bengaluru and plans to invest an additional Rs 6,000 crore in the near future.
Highlighting the Mahindra Group's deep-rooted relationship with Karnataka, Anand Mahindra drew parallels to the lessons he learned at the Kodagu coffee plantation.
"Our involvement with Karnataka is deeply rooted and firmly intertwined. Most of our businesses, including the jewels in our corporate crown—automotive, IT, farm equipment, financial services, and hospitality—have operations here. Our group directly employs over 25,000 people," he said.
He further stated that the Mahindra Group's relationship with Karnataka has flourished over the years, thanks to the nurturing, encouragement, and support provided by the Government of Karnataka. Policies such as the New Industrial Policy and the Global Capability Centres (GCCs) Policy reflect this supportive outlook. "This approach to business gives us confidence in our future here," he added.
Pointing out that Karnataka is deeply intertwined with his childhood memories due to his family's close connection with Kodagu, Anand Mahindra recalled spending a lot of time in the village of Kutta in the late 1960s, when his parents took on the challenge of developing a working coffee plantation from scratch.
"Eventually, although they came from Punjab and later moved to Mumbai, I believe that, at the end of their lives, my parents were happiest in Kutta. So, while I come here today as an investor, first and foremost, I'm just a Kodagu boy coming home," he said.
Noting that he learned the basics of coffee cultivation simply by observing, Anand Mahindra reflected that, in hindsight, those years on the coffee plantation were transformative.
"Watching that coffee grow taught me life lessons that have shaped me both as an adult and as a business leader. I have a lot to thank Karnataka for," he said.
Explaining that he has carried three major lessons from coffee growing into his life, Anand Mahindra stated that successful coffee cultivation requires bushes to be carefully planted and deeply rooted—a principle that also applies to business and personal relationships.
Another key aspect of coffee growing, he said, is that plants need support to grow, as coffee bushes thrive under the shelter of shade-giving trees. Similarly, people and businesses flourish when nurtured and supported by those who can provide guidance and protection.
He further emphasised that growing up on the plantation taught him patience, noting that coffee does not yield returns overnight.
"It teaches you to have faith—faith in the future and belief that hard work will pay off. The returns are worth the long gestation period, whether in life or business," he said.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
RCB beat MI by 18 runs after batters fire
Mumbai (PTI): Royal Challengers Bengaluru skipper Rajat Patidar, Phil Salt and Virat Kohli blasted half-centuries as the defending champions beat Mumbai Indians by 18 runs in an Indian Premier League match here on Sunday.
Salt (78 off 36 balls) and Kohli (50 off 38 balls) stitched together a 120-run stand for the opening wicket before Patidar scored a rapid 53 off just 20 balls as RCB posted 240 for 4.
In response, Mumbai Indians were restricted to 222 for 5, with RCB spinner Suyash Sharma (2/47) putting the skids on the home side with a double strike in the eighth over, from which they could not recover.
Sherfane Rutherford top-scored for MI with an unbeaten 71 off 31 balls.
While opener Rohit Sharma appeared to be struggling with a hamstring issue and had to retire hurt on 19, his partner Ryan Rickelton made 37, while Suryakumar Yadav (33) and Hardik Pandya (40) were the other contributors for MI.
Brief scores:
Royal Challengers Bengaluru 240 for 4 in 20 overs (Phil Salt 78, Virat Kohli 50, Rajat Patidar 53, Tim David 35 not out).
Mumbai Indians: 222 for 5 in 20 overs (Sherfane Rutherford 71 not out, Ryan Rickelton 37, Hardik Pandya 40; Suyash Sharma 2/47).
