MAHINDRA GROUP COMPANIES

As of 31st March 2012, the Group flagship company Mahindra & Mahindra Ltd. had 110 Subsidiary Companies

Nature of
Sr. No. Industry Group Company Sector Products / Services
Relationship

1 Aerospace Mahindra & Mahindra Limited

Mahindra Aerospace Private Limited Subsidiary Systech
Mahindra Aerostructures Private Limited Subsidiary
Mahindra Aerospace Australia Pty Limited Subsidiary
Gipp Aero Investments Pty Limited Subsidiary
Nomad TC Pty Limited Subsidiary IP holder for Type Design Data
GA 200 Pty Limited Subsidiary IP holder for Type Design Data
GA8 Airvan Pty Limited Subsidiary IP holder for Type Design Data
Aerostaff Australia Pty Limited Subsidiary Aero Components
Airvan Flight Services Pty Limited Subsidiary Aircraft Operating Company
Gipps Aero Pty Limited Subsidiary Aircraft

2 Aftermarket Mahindra & Mahindra Limited

Mahindra Spares Business Division Aftermarket Spares
Mahindra First Choice Wheels Limited Subsidiary Buying & Selling Used Cars
Mahindra First Choice Services Limited Subsidiary Multi-brand Service of Cars

3 Agri-business Mahindra & Mahindra Limited

Mahindra Shubhlabh Services Limited Subsidiary Automotive & Farm Fresh Produce, Agri-Inputs

4 Automotive Mahindra & Mahindra Limited

Mahindra & Mahindra Limited - Automotive Division Division Automotive & Farm 3 Wheelers, UV's, Pick-ups
Mahindra & Mahindra South Africa (Pty) Limited Subsidiary UV's
Mahindra Automobile Distributor Private Limited Subsidiary Cars
Mahindra Navistar Automotives Limited Subsidiary HCV Manufacturing
Mahindra Vehicle Manufacturers Limited Subsidiary LCV and HCV Manufacturing
Mahindra Navistar Engines Private Limited Subsidiary Engines Manufacturing
Mahindra Automotive Australia Pty. Ltd. Subsidiary UV imports, sales and service
Mahindra Reva Electric Vehicles Private Limited Subsidiary Electric cars
Mahindra Overseas Investment Company (Mauritius) Limited Subsidiary
Mahindra Europe s.r.l Subsidiary Vehicle import and distribution
Mahindra Graphic Research Design s.r.l Subsidiary Design services
NBS International Limited Subsidiary
Ssangyong Motor Company Limited Subsidiary SUV's, Cars
Ssangyong European Parts Center B.V. Subsidiary
Ssangyong Motor (Shanghai) Co. Ltd. Subsidiary
Ssangyong (Yizheng) Auto Parts Manufacturing Co., Ltd. Subsidiary Auto components

5 Components Mahindra & Mahindra Limited

Mahindra Forgings Limited Subsidiary Systech Forging Products
Stokes Group Limited Subsidiary
Stokes Forgings Dudley Limited Subsidiary
Jensand Limited Subsidiary
Stokes Forgings Limited Subsidiary
Mahindra Forgings Global Limited Subsidiary Forging Products
Schöneweiss & Co. GmbH Subsidiary
Mahindra Forgings International Limited Subsidiary Forging Products
Mahindra Forgings Europe AG Subsidiary
Gesenkschmiede Schneider GmbH Subsidiary
JECO-Jellinghaus GmbH Subsidiary
Falkenroth Umformtechnik GmbH Subsidiary
Mahindra Castings Limited Subsidiary Castings
Mahindra Gears & Transmissions Private Limited Subsidiary Gears & Transmission Products
Mahindra Gears International Limited Subsidiary
Mahindra Gears Global Limited Subsidiary
Mahindra Gears Cyprus Limited Subsidiary
Metalcastello S.p.A. Subsidiary
Crest Geartech Private Limited Subsidiary
Mahindra Ugine Steel Company Limited Subsidiary Alloy steels & Stampings
Mahindra Engineering Services Limited Subsidiary Engineering Services
Mahindra Engineering Services (Europe) Limited Subsidiary
Mahindra Engineering GmbH Subsidiary
Mahindra Technologies Services Inc Subsidiary
Mahindra Composites Limited Associate Composites
 Nature of
Sr. No. Industry Group Company Sector Products / Services
Relationship

6 Consulting Services Mahindra & Mahindra Limited

Mahindra Special Services Group Division Mahindra Defense Corporate Security Consulting
Multi-disciplinary Engineering Project
Mahindra Consulting Engineers Limited Subsidiary Mahindra Partners
Consulting
Subsidiary of M&M
Mahindra Business & Consulting Services Private Limited Financial Services Captive Staffing and Allied Services
Financial Services
JV of Mahindra
Real Estate &
Mahindra Water Utilities Private Limited Infrastructure Water treatment and supply
Infrastructure
Developers

7 Defense Mahindra & Mahindra Limited

Mahindra & Mahindra Limited - Defense Systems Division Defense Systems Naval Systems
Mahindra Emirates Vehicle Armouring FZ-LLC Subsidiary Vehicle up-armouring
Defence Land Systems India Private Limited Subsidiary Land Defence Systems

8 Energy Mahindra & Mahindra Limited

Mahindra & Mahindra Limited - Energy (Powerol) Division Division Automotive & Farm DG Sets, Inverters
Mahindra Holdings Limited Subsidiary
Mahindra EPC Services Private Limited Subsidiary of MHL EPC Services for Solar Power
Mahindra Solar One Private Limited Associate Mahindra Partners Solar Power Producer

9 Farm Equipment Mahindra & Mahindra Limited

Mahindra & Mahindra Limited - Farm Equipment Division Division Automotive & Farm Tractors, Farm Equipment
Mahindra Construction Equipment Division Construction Equipment
Mahindra USA Inc. Subsidiary Tractors, Farm Equipment
Mahindra Gujarat Tractor Limited Subsidiary Tractors, Farm Equipment
Mahindra Overseas Investment Company (Mauritius) Limited Subsidiary
Mahindra (China) Tractor Company Limited Subsidiary Tractors, Farm Equipment
Mahindra Yueda (Yancheng) Tractor Company Limited Subsidiary Tractors, Farm Equipment
Mahindra EcoNova Private Limited Subsidiary
Mahindra Holdings Limited Subsidiary
Mahindra Punjab Tractors Private Limited Subsidiary Tractors, Farm Equipment
Vayugrid Marketplace Services Private Limited Associate

10 Financial Services Mahindra & Mahindra Limited

Mahindra & Mahindra Financial Services Limited Subsidiary Financial Services Financing Vehicles & Other Assets
Mahindra Insurance Brokers Limited Subsidiary Insurance Broking
Mahindra Rural Housing Finance Limited Subsidiary Housing Finance

11 Industrial Equipment Mahindra & Mahindra Limited

Mahindra Engineering & Chemical Products Limited Subsidiary Mahindra Partners
Mahindra Conveyor Systems Private Limited Subsidiary Bulk Handling Systems

12 Information Technology Mahindra & Mahindra Limited

Bristlecone Limited Subsidiary IT ERP Implementation Solutions
Bristlecone Inc. Subsidiary
Bristlecone UK Limited Subsidiary
Bristlecone (Malaysia) SDN.BHD Subsidiary
Bristlecone Consulting Limited Subsidiary
Bristlecone India Limited Subsidiary
Bristlecone Singapore Pte. Limited Subsidiary
Bristlecone GmbH Subsidiary
Mahindra BPO Services Private Limited Subsidiary BPO and Back-office Services
Mahindra-BT Investment Company (Mauritius) Limited. Subsidiary
Tech Mahindra Limited Joint Venture Telecom Software and Services
CanvasM Technologies Limited JV of TechM Mobile VAS
Satyam Computer Services Limited Subsidiary of TechM Software Solutions and Services
 Nature of
Sr. No. Industry Group Company Sector Products / Services
Relationship

13 Leisure & Hospitality Mahindra & Mahindra Limited

Mahindra Holidays and Resorts India Limited Subsidiary Hospitality Timeshare Resorts
MHR Hotel Management GmbH Subsidiary
Mahindra Holidays and Resorts USA Inc. Subsidiary
Mahindra Hotels and Residences India Limited Subsidiary
Heritage Bird (M) Sdn Bhd Subsidiary
BAH Hotelanlagen AG Subsidiary
Bell Tower Resorts Private Limited Subsidiary

14 Logistics Mahindra & Mahindra Limited

Mahindra Logistics Limited Subsidiary Mahindra Partners People & Freight Movement Services

15 Real Estate & Mahindra & Mahindra Limited

Infrastructure Real Estate &
Mahindra Lifespace Developers Limited Subsidiary Residential Properties & SEZ's
Infrastructure
Mahindra Bebanco Developers Limited Subsidiary Residential Properties
Mahindra Integrated Township Limited Subsidiary
Mahindra Residential Developers Limited Subsidiary
Watsonia Developers Limited Subsidiary
Mahindra Infrastructure Developers Limited Subsidiary Development of SEZ's, Industrial Parks
Mahindra World City Developers Limited Subsidiary
Mahindra World City (Jaipur) Limited Subsidiary
Mahindra World City (Maharashtra) Limited Subsidiary
Knowledge Township Limited Subsidiary
Raigad Industrial & Business Park Limited Subsidiary
Mahindra Industrial Township (Maharashtra) Limited Subsidiary
Anthurium Developers Limited Subsidiary

16 Retail Mahindra & Mahindra Limited

Mahindra Engineering & Chemical Products Limited Subsidiary Mahindra Partners
Retail Initiative Holdings Limited Subsidiary
Mahindra Retail Private Limited Subsidiary Retailing Maternity and Baby-Care products

17 Steel Processing Mahindra & Mahindra Limited

Mahindra Intertrade Limited Subsidiary Mahindra Partners Steel processing
Mahindra Middle East Electrical Steel Service Centre Subsidiary
Mahindra Steel Service Centre Limited Subsidiary
Mahindra Electrical Steel Limited Subsidiary

18 Two Wheelers Mahindra & Mahindra Limited

Mahindra Two Wheelers Limited Subsidiary Two Wheelers Scooters and Bikes