Mahindra Group Targets Major Expansion in Non-Automotive Businesses by FY30
The Mahindra Group has announced a major expansion strategy targeting rapid growth across its 12 non-core businesses by the fiscal year 2030 (FY30) in Chennai and nationwide. Outlined in the company's latest annual report, the initiative focuses on the conglomerate's "Growth Gems," which span hospitality, real estate, logistics, renewable energy, electric mobility, and aerospace.
According to Anish Shah, Group CEO and MD of Mahindra Group, these businesses are well-positioned to capitalize on structural trends such as rising consumer spending, infrastructure expansion, and digitalization. The group aims to build multiple long-term growth engines beyond its traditional automotive and farm equipment sectors.
"Our Growth Gems have continued to build momentum across businesses," Shah stated in the annual report, highlighting that the company is actively setting medium-term goals for each of these 12 selected businesses.
Among the primary targets, the group plans to double the room inventory of Mahindra Holidays & Resorts India Ltd to 12,000 keys by FY30. This expansion is designed to address rising leisure travel and the growing number of middle-income households.
In the real estate sector, Mahindra Lifespace Developers has set a vision to achieve ₹10,000 crore in sales by FY30. This target marks a significant increase from the ₹4,118 crore in consolidated revenue recorded in FY26. The group expects this growth to be supported by robust residential demand and a growing preference for premium integrated townships. The annual report highlighted that Mahindra Lifespaces has already recorded a seven-fold increase in profit.
Other "Growth Gems" have also reported significant milestones. The group's aerospace division has built a strong order book exceeding $1 billion. Additionally, the logistics business has broken even after experiencing 11 quarters of losses.
Shah also noted that the Advanced Technologies business remains on a strong growth trajectory, while the Trucks & Buses business is well-positioned for future progress following the SML acquisition.
