Latest news with #Chakan-based
Hindustan Times
19 hours ago
- Automotive
- Hindustan Times
Mahindra looks to acquire 350-acre land parcel in Igatpuri in Maharashtra
Mumbai, Aug 15 (PTI) Mahindra & Mahindra has submitted a letter of interest to the Maharashtra government to acquire 350 acres of land in Igatpuri, Maharashtra, according to a top company official. Mahindra & Mahindra has submitted a letter of interest to the Maharashtra government to acquire 350 acres of land in Igatpuri, Maharashtra (Picture for representational purposes only) Photographer: Waldo Swiegers/Bloomberg(Bloomberg) The Mumbai-based automaker already has manufacturing plants in Nashik and Igatpuri. "We have submitted a letter of interest for 350 acres of land in Igatpuri, which is part of our ecosystem," Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm sectors Rajesh Jejurikar told reporters here. He stated that Nashik and Igatpuri plants could benefit from a feeder facility in the vicinity. "The land parcel could be used for multiple things, including setting up a supplier park and anything that we may need more for either Nashik or the Igatpuri plant," Jejurikar added. The company is at a preliminary stage and would have to go through the whole process of due diligence, and then land purchase needs a different level of approval, he noted. "We still have to go through the process of meeting all approvals, internal and regulatory, before we actually make a the whole process is not complete, but the expression of interest is accurate," Jejurikar said. Mahindra & Mahindra CEO, Automotive Division, Nalinikanth Gollagunta said the company is looking to expand production capacity of its Chakan-based manufacturing by around 2.4 lakh units in the first phase this year. The overall production capacity of the plant would go up to 7.5 to 7.6 lakh units per year after the expansion. "We are also exploring setting up greenfield locations to put out the production capacity beyond 2027," Gollagunta stated. Mahindra has plans to invest over ₹27,000 crore in its automotive business between FY25 and FY27.
Mint
20 hours ago
- Automotive
- Mint
Mahindra looks to acquire 350-acre land parcel in Igatpuri
Mumbai, Aug 15 (PTI) Mahindra & Mahindra has submitted a letter of interest to the Maharashtra government to acquire 350 acres of land in Igatpuri, Maharashtra, according to a top company official. The Mumbai-based automaker already has manufacturing plants in Nashik and Igatpuri. "We have submitted a letter of interest for 350 acres of land in Igatpuri, which is part of our ecosystem," Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm sectors Rajesh Jejurikar told reporters here. He stated that Nashik and Igatpuri plants could benefit from a feeder facility in the vicinity. "The land parcel could be used for multiple things, including setting up a supplier park and anything that we may need more for either Nashik or the Igatpuri plant," Jejurikar added. The company is at a preliminary stage and would have to go through the whole process of due diligence, and then land purchase needs a different level of approval, he noted. "We still have to go through the process of meeting all approvals, internal and regulatory, before we actually make a the whole process is not complete, but the expression of interest is accurate," Jejurikar said. Mahindra & Mahindra CEO, Automotive Division, Nalinikanth Gollagunta said the company is looking to expand production capacity of its Chakan-based manufacturing by around 2.4 lakh units in the first phase this year. The overall production capacity of the plant would go up to 7.5 to 7.6 lakh units per year after the expansion. "We are also exploring setting up greenfield locations to put out the production capacity beyond 2027," Gollagunta stated. Mahindra has plans to invest over ₹ 27,000 crore in its automotive business between FY25 and FY27.
News18
20 hours ago
- Automotive
- News18
Mahindra looks to acquire 350-acre land parcel in Igatpuri
Mumbai, Aug 15 (PTI) Mahindra & Mahindra has submitted a letter of interest to the Maharashtra government to acquire 350 acres of land in Igatpuri, Maharashtra, according to a top company official. The Mumbai-based automaker already has manufacturing plants in Nashik and Igatpuri. 'We have submitted a letter of interest for 350 acres of land in Igatpuri, which is part of our ecosystem," Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm sectors Rajesh Jejurikar told reporters here. He stated that Nashik and Igatpuri plants could benefit from a feeder facility in the vicinity. 'The land parcel could be used for multiple things, including setting up a supplier park and anything that we may need more for either Nashik or the Igatpuri plant," Jejurikar added. The company is at a preliminary stage and would have to go through the whole process of due diligence, and then land purchase needs a different level of approval, he noted. 'We still have to go through the process of meeting all approvals, internal and regulatory, before we actually make a decision…So, the whole process is not complete, but the expression of interest is accurate," Jejurikar said. Mahindra & Mahindra CEO, Automotive Division, Nalinikanth Gollagunta said the company is looking to expand production capacity of its Chakan-based manufacturing by around 2.4 lakh units in the first phase this year. The overall production capacity of the plant would go up to 7.5 to 7.6 lakh units per year after the expansion. 'We are also exploring setting up greenfield locations to put out the production capacity beyond 2027," Gollagunta stated. Mahindra has plans to invest over Rs 27,000 crore in its automotive business between FY25 and FY27. PTI MSS BAL BAL BAL view comments First Published: August 15, 2025, 15:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
a day ago
- Business
- Time of India
Cops save firm's money lost in email spoofing fraud
Pune: Swift action of the Pimpri Chinchwad cyber police helped a Chakan-based bioscience company recover Rs31 crore it lost in an email spoofing fraud between April and May. Cybercrooks hacked an email of the company's US-based officer, obtained details of the firm's vendors and initiated a payment process. The company's official from the US shared the details with the head office in Chakan, following which Rs33 crore was sent to a bank account number provided to the company. After realising that they were duped, the company approached the Pimpri Chinchwad cyber police, who managed to save Rs31 crore with the help of the bank. The company lost Rs1.4 crore in the fraud. The company's official from Chakan lodged a complaint with the police on Wednesday. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune | Gold Rates Today in Pune | Silver Rates Today in Pune Assistant inspector Pravin Swami of the Pimpri Chinchwad cyber police said the bioscience company's plant was in New Jersey in the US. In April, cybercrooks hacked the email of the company's US-based officer and obtained details about the company's vendors. "The crooks also hacked the vendor's email. They created a fake domain in the vendor's name and managed to change the vendor's bank account number," Swami said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Switch to UnionBank Rewards Card UnionBank Credit Card Apply Now Undo The officer said the crooks then shared those bank details with the company's official in the US and requested to initiate the payment process. "The official in the US shared those details with officials in Chakan. After making a payment of Rs33.5 crore, the company found that it was a fraud," Swami said. He said the company approached the cyber police and filed a complaint application. "With the help of the company's bank, we managed to freeze the suspects' account. We even told the company to file a complaint in the US about the fraud. These efforts yielded results, and we managed to recover Rs31 crore before the crooks could withdraw it. Our investigations are on," Swami said. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area. Get the latest lifestyle updates on Times of India, along with Happy Independence Day wishes , messages , and quotes !
