04:39
"We accept a basic allocation of Rs 5,000 crore for the abutting three fiscals and plan to barrage six new models this fiscal," M&M admiral (automotive business) Pawan Goenka told reporters actuality during a post-earnings appointment call.
However, Goenka did not action any capacity on the new models or barrage dates.
He additionally appear an advance of addition Rs 2,500 crore in accumulation companies during the abutting three fiscals.
On the tractor front, however, the company, which is the better architect of the acreage accessories in the country, articulate alert adage its expects sales advance to bisect this budgetary from 10-12 percent anticipation earlier, at to 5-6 percent.
M&M, the flagship of the USD14.4-billion Mahindra Group, bygone appear a more-than-expected 44 percent jump in net accumulation for the March division at Rs 874.5 crore on able aggregate growth.
Net sales rose to Rs 9,241.28 crore for the division as adjoin Rs 6,633.84 crore a year ago.
Consolidated net for the abounding budgetary rose to Rs 3,126.66 crore, while sales jumped to Rs 58,241.40 crore.
On the much-delayed new bulb in the South, Goenka said, the aggregation is in talks with some states but so far it has not finalised the location.
Goenka additionally said its much-talked about car XUV500, launched on an all-embracing platform, will be formed out in Australia, Chile and Western Europe as aboriginal as abutting month.
Already this awful acknowledged car is actuality awash in South Africa and Brazil and is affairs 150 units a ages in South Africa alone, Goenka added.
On the alarm for deregulating agent price--M&M is a pure-play agent player--Goenka said he is all for this but bidding action to the alarm for a appropriate Rs 80,000 assessment on agent vehicles.
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