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Mahindra Finance Newsroom

Press Releases

Mahindra Finance enters new age Vehicle Leasing & Subscription business under ‘Quiklyz’ brand

19/11/2021

Mahindra & Mahindra Financial Services Limited (Mahindra Finance/ MMFSL), part of the diversified Mahindra Group, today announced the official launch of its leasing and subscription business ‘Quiklyz’. This venture is a new-age digital platform for vehicle leasing and subscription, that aims to provide great convenience, flexibility and choice to customers across cities. Mahindra Finance sees this as a great opportunity to create value for its stakeholders with a profitable business model and build a strong balance sheet out of emerging opportunities in this adjacent business vertical.

Financial Results – FY22 Q2, Standalone & Consolidated Results

28/10/2021

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets, at its meeting held today, announced the unaudited financial results for the quarter ended September 30, 2021.

Mahindra Finance unveils logo for its Leasing & Subscription business, ‘Quiklyz’

21/10/2021

Mahindra & Mahindra Financial Services Limited (MMFSL/Mahindra Finance), part of the Mahindra Group, today unveiled the brand logo for ‘Quiklyz’ - its Leasing and Subscription business. The company had announced the brand name ‘Quiklyz’ last month, denoting the changing mindset on mobility, especially with millennial-minded consumers and new-age corporates.

Mahindra Finance launches ‘Shubh Utsav’, 2 months of special festive offers on vehicle loans

21/10/2021

Mahindra & Mahindra Financial Services (Mahindra Finance), India’s leading NBFC (Non-Banking Finance Company), announced the launch ‘Shubh Utsav’, 2 months of special festive offers on vehicle loans. The scheme aims to provide customers with offers and discounts on vehicle loans at extremely competitive rates during this season.

Mahindra Finance announces entry into Vehicle Leasing and Subscription business under ‘Quiklyz’ brand

16/09/2021

Mahindra & Mahindra Financial Services Limited (MMFSL/Mahindra Finance), part of the Mahindra Group, today announced its entry into the Leasing and Subscription business. The new vertical would operate under the brand name ‘Quiklyz’, denoting the changing mindset on mobility.

Mahindra Finance appoints Raul Rebello as new Chief Operating Officer

02/09/2021

Mahindra & Mahindra Financial Services Limited (MMFSL/Mahindra Finance), part of the Mahindra Group, today announced Raul Rebello as its new Chief Operating Officer (COO) with immediate effect. This is post the movement of Rajnish Agarwal to Mahindra Rural Housing Finance Ltd (MRHFL).

Financial Results – FY22 Q1, Standalone & Consolidated Results

27/07/2021

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets, at its meeting held today, announced the unaudited financial results for the quarter ended June 30, 2021.

Financial Results – FY21 Q4 & YTD, Standalone & Consolidated Results

23/04/2021

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the audited financial results for the fourth quarter and financial year ended March 31, 2021.

Financial Results – FY21 Q3 & YTD, Standalone & Consolidated Results

28/01/2021

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets, announced today the unaudited financial results for the quarter and nine-month period ended December 31, 2020.

Mahindra Finance - Financial Results – FY21 Q2 & H1, Standalone & Consolidated

26/10/2020

FY21 Q2 & H1, Standalone & Consolidated Results Standalone: Mahindra Finance FY21 H1 PAT up 43% at Rs. 459 Crores F21-H1 Income stood at Rs. 5,304 Crores, up 7% F21-H1 PBT up 10% at Rs. 620 Crores AUM crosses Rs. 81,500 Crores, up 12%

Overwhelming Response to Mahindra Finance Rights Issue

13/08/2020

Mahindra & Mahindra Financial Services Limited (“Mahindra Finance” or “Company”), one of the leading deposit taking non-banking finance companies in India, announced the successful closure of its fast track Rights Issue to raise Rs. 3088.82 crores (“Rights Issue”). The Rights Issue was subscribed approximately 1.3 times, resulting in a demand generation of over Rs. 4000 crores*.

Mahindra Finance Rights Issue to Open on July 28

28/07/2020

Mahindra & Mahindra Financial Services Limited (“Mahindra Finance” or “Company”), a subsidiary of Mahindra & Mahindra Limited and one of the leading deposit taking non-banking finance companies in India,is scheduled to open its Rights Issue on July 28, 2020.

Financial Results – FY21 Q1, Standalone & Consolidated Results

18/07/2020

Mahindra Finance Customer Base crosses 6.9 Million, AUM crosses Rs. 81,000 Crores, up 14%, F21-Q1 Standalone Income stood at Rs. 2,655 Crores, up 10%, PBT stood at Rs. 208 Crores, up 98% and PAT stood at Rs. 156 Crores, up 129%

Three Mahindra Financial Services Sector Companies Recognised as India’s Best Workplaces 2020 by Great Place to Work® Institute

22/06/2020

Three companies from the Mahindra & Mahindra Financial Services sector, a leading provider of diversified financial solutions in rural and semi-urban India, have been recognized among India’s Best Companies to Work 2020 by Great Place to Work®️ Institute (GPTW).

Financial Results – FY20 Q4 & YTD, Standalone & Consolidated Results

15/05/2020

2020: The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the audited financial results for the fourth quarter and financial year ended March 31, 2020.

Financial Results – FY20 Q3 & YTD, Standalone & Consolidated Results

28/01/2020

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the unaudited financial results for the quarter and nine-month period ended December 31, 2019.

Mahindra Finance to organise 2-Wheeler to 20-Wheeler Maha Loan Mela in Nashik

18/12/2019

Nashik, December 18, 2019: Mahindra & Mahindra Financial Services (Mahindra Finance), a leading Non-Banking Finance Company (NBFC) focused on rural and semi-urban markets, is organising a 2-Wheeler to 20-Wheeler Maha Loan Mela in Nashik. The two day event will be held on December 19 and 20, 2019, at Krushi Utpanna Bazar Samiti, Sharadchandra Pawar Mukhya Bazar Awar, Jopul Road, Pimpalgaon Baswant, Taluka Niphad, Nashik – 422209 from 9:00 am to 9:00 pm.

Mahindra Finance and Ideal Finance form joint venture in Sri Lanka

20/08/2019

Mahindra & Mahindra Financial Services Ltd. (Mahindra Finance), India’s leading NBFC (Non-Banking Finance Company), focused on the rural and semi-urban markets, has entered into a joint venture with Ideal Finance Ltd., a fully owned subsidiary of the leading Sri Lankan conglomerate, Ideal Group. Mahindra Finance will invest LKR 2 billion until March 2021 for up to 58.2% stake in Ideal Finance.

F-2019 Q1 Standalone Results; PAT declines 66%, stood at Rs.108 Crores, Income up by 23%, stood at Rs.2,838 Crores, AUM up 22%, crosses Rs.71,000 Crores

23/07/2019

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the unaudited financial results for the quarter ended June 30, 2019

Mahindra Finance and Manulife form Asset Management Joint Venture in India

21/06/2019

Mahindra & Mahindra Financial Services Limited through its subsidiary, Mahindra Asset Management Company Private Limited has entered into a joint venture with the leading global financial services group, Manulife*. The 51:49 joint venture aims to expand the depth and breadth of fund offerings and retail fund penetration in India.

F-2019 Q4 Standalone Results; PAT up by 52%, stood at Rs.1,557 Crores, Income up by 32% YoY, at Rs.8,810 Crores, AUM up by 27% YoY, crosses Rs.67,000 Crores

24/04/2019

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the audited financial results for the fourth quarter and year ended March 31, 2019.

Mahindra & Mahindra Financial Services Limited announces Public Issue of Secured and Unsecured Subordinated Redeemable Non-Convertible Debentures (NCDs)

03/01/2019

Mahindra & Mahindra Financial Services Limited (“Company” or “Mahindra Finance”), one of the leading non-banking finance companies with customers primarily in the rural and semi-urban markets of India, plans to undertake a public issue of NCDs opening on January 04, 2019.

F-2019 Q2 Standalone Results; PAT up by 132% at Rs. 381 Crores, Income up by 39% at Rs.2,148 Crores, AUM up by 26% at Rs.59,473 Crores

24/10/2018

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the unaudited financial results for the second quarter and half year ended September 30, 2018

Mahindra Finance hikes fixed deposit rates Aug 23rd 2018

23/08/2018

Mahindra Finance, India’s leading rural finance company has announced an upward revision of interest rates on its term deposits with effect from August 23, 2018.Interest rate for deposits upto 12-months have been hiked by 30 basis points to 8.00 percent, while those for 18-months have been increased by 35 basis points to 8.10 percent, and for deposits upto 24-months rates have been hiked by 10 basis points to 8.35 percent. Investors are eligible for 0.25% higher rates, if they choose the online mode of investment with a different tenure (refer to the chart below).

F-2019 Q1 Standalone Results; PAT up by 34% at Rs. 269 Crores, Income up by 29% at Rs.1940 Crores, AUM up by 21%, crosses Rs.58000 Crores

27/07/2018

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the unaudited financial results for the quarter ended June 30, 2018

Press Release dated 3rd July, 2018 – IFC invests $100 million in Mahindra Finance

03/07/2018

IFC, a member of the World Bank Group, has invested INR 6.4 billion ($100 million) in Mahindra & Mahindra Financial Services Ltd (Mahindra Finance). This investment will enable Mahindra Finance to further augment its growth, by extending loans to individuals, including farmers, to buy tractors, vehicles and other equipment, along with financing small and medium enterprises.

F-2018 Q4 Consolidated Results; PAT up by 123% at Rs.892 Crores, Income up by 16% at Rs.7206 Crores, AUM up by18%, crosses Rs.55000 Crores

25/04/2018

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the audited financial results for the quarter and twelve months / financial year ended March 31, 2018.

F-2018 Q3 Consolidated Results ; AUM up by 13%, at Rs.51782 Crores; Income up by 26%, at Rs.2195 Crores; PAT in F18Q3 stood at Rs.365 Crores against Rs.12 Crores in F17Q3 - 24th January 2018

24/01/2018

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the unaudited financial results for quarter and nine months ended 31st December, 2017.

Mahindra Finance brings ‘Lifeline Express’ to Ballarpur, Chandrapur

27/11/2017

The Honorable Cabinet Minister of Finance & Planning and Forest Departments, Government of Maharashtra, Mr. Sudhir Mungantiwar today inaugurated the Lifeline Express at Ballharshah Railway station in Chandrapur, in the presence of Mr. Vinay Deshpande, Chief People Officer, Mahindra Finance.

Mahindra Finance Announces Winners of Rural Talent Hunt - 'Bharat Ki Khoj'

16/10/2017

Mahindra and Mahindra Financial Services (Mahindra Finance), a leading provider of financial services in rural and semi-urban India, has announced the winners of its rural talent hunt programme, ‘Bharat Ki Khoj’. The programme, a unique initiative designed specifically for rural India, is in line with Mahindra Group’s 'Rise’ philosophy. It provides participants from the deepest pockets of rural India with a platform to showcase their talent at the District and State level before qualifying for the Finals. Top ten finalists showcased their talent across various performing arts including dance, music, art and live theatrics at the grand finale in Mumbai.

Press Release dated 1st November, 2017 – Mahindra & Mahindra Financial Services Limited

01/11/2017

The Board of Directors of Mahindra & Mahindra Financial Services Limited („Mahindra Finance‟), a leading provider of financial services in the rural and semi-urban markets, has subject to approval from the shareholders, approved the issue of equity shares through the Qualified Institutions Placement („QIP‟) route for upto 2.4 crores equity shares/ securities convertible into equity shares and a preferential issue to Mahindra & Mahindra Limited („M&M‟) for upto 2.5 crores equity shares.

F-2018 Q2 Consolidated Results; AUM up by 14%, at 49918 Crores; Income Up by 14%; PAT declined by 11% - 25th October, 2017

25/10/2017

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the audited financial results for quarter and half year ended 30th September, 2017.

Press Release dated 16th October, 2017 – Mahindra Insurance Brokers Limited

16/10/2017

Mahindra Insurance Brokers Ltd. (MIBL), a leading insurance broker primarily serving rural and semi-urban India, today announced that XL Group – through its subsidiaries a leading global insurer and reinsurer operating under the XL Catlin brand – is to acquire a 20% minority stake in the company, subject to satisfaction of customary closing conditions by all stakeholders. MIBL, a subsidiary of Mahindra & Mahindra Financial Services Ltd. (Mahindra Finance) and a licensed Composite Broker, has demonstrated noteworthy growth and profitability over the past 13 years. MIBL’s current valuation is at Rs.1,300 crores (approx. US$ 200 million).

Press Release - Mahindra Electric partners with the Mahindra Finance to introduce SmartLease

02/08/2017

Mahindra Electric and Mahindra Finance, part of the diversified USD 19 billion Mahindra Group, today announced the introduction of SmartLease, a first of its kind leasing scheme for individual customers of the Mahindra e2oPlus, the all-electric CitySmart car.

Press Release - Public Issue of Unsecured Subordinated Redeemable Non-Convertible Debentures

10/07/2017

Mahendra & Mahendra Financial Services Limited("Company" or "Mahendra Finance"),one of the leading non-banking finance companies with customers primarily in the rural and semi-urban markets of India,plans to raise NCDs via public issue which is opening on july 10 ,2017.

Press Release - Mahindra Financial Services Sector rolls out Digital Financial Literacy Campaign across rural India

08/03/2017

The Mahindra & Mahindra Financial Services Sector (Mahindra FSS) has launched a digital financial literacy campaign across rural India.

F-2017 H1 Consolidated Results; AUM up by 14% crosses 45000 Crores; Income Up by 8% ; PAT declined by 35% - 24th January, 2017

24/01/2017

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the unaudited financial results for quarter and nine months period ended 31 st December, 2016.

F-2017 H1 Consolidated Results; AUM up by 14% crosses 43855 Crores; Income Up by 7% ; PAT declined by 16%

25/10/2016

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the audited financial results for quarter and half year ended 30 th September, 2016.

F-2017 Q1 Consolidated Results; Income up by 4%; PAT up by 1%; AUM up by 11% crosses 41000 Crores

22/07/2016

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the unaudited financial results for quarter ended 30 th June, 2016

Mahindra & Mahindra Financial Services Limited - Press Release Public Issue of Non-Convertible Debentures

23/05/2016

Mahindra & Mahindra Financial Services Limited (“Company”), one of the leading non-banking finance companies with customers primarily in the rural and semi-urban markets of India, plans to raise debt capital with a public issue of NCDs opening on May 25, 2016.

F-2016 Q4 Income up by 10% ; F-2016 Q4 PAT up by 11 %; F-2016 AUM up by 11% crosses 40000 Crores

23/04/2016

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the audited financial results for quarter and year ended 31st March, 2016.

Independent Director, Dhananjay Mungale appointed as Chairman of Mahindra Finance, Ramesh Iyer elevated as Vice-Chairman designated as Vice-Chairman & Managing Director

03/03/2016

Mahindra & Mahindra Financial Services Limited (Mahindra Finance), one of India’s leading non-banking finance companies, today announced the appointment of Mr. Dhananjay Mungale Independent Director, as the  Chairman and Mr.Ramesh Iyer,Managing Directors,as the Vise Chairman of the Board of Directors of the Company, designated as Vise-Chairman& Managing Directors,with immediate effect.

Mr. Bharat Doshi nominated as Director on RBI Central Board-Steps down as Chairman of Mahindra Finance

14/10/2016

Mahindra & Mahindra Financial Services Limited (Mahindra Finance), one of India’s leading non-banking finance companies, today announced that Mr. Bharat Doshi has stepped down from his position as a member of the Board, and consequently as its Chairman, with immediate effect. This move is in view of his recent nomination as a Director on the Central Board of the RBI, to avoid any conflict of interest and to be consistent with the principles of good governance

SEBI grants licence to Mahindra Mutual Fund

05/02/2016

Mahendra Finance today announced that its wholly owned subsidiary,Mahendra Asset Management Company Private Limited,has received a license to manage the Mahendra Mutual Funds

F-2016 Q3 Disbursement up by 19% ; F-2016 YTD Income up by 4 %

21/01/2016

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the unaudited financial results for quarter and nine months period ended 31st December, 2015.

F-2016 Q2 Income up by 8% ; F-2016 Q2 PAT declined by 28 %

21/10/2015

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the audited financial results for quarter and half year ended 30 th September, 2015.

F-2016 Q1 Income up by 9%; F-2016 Q1 PAT down by 37 %

24/07/2015

The Board of Directors of Mahendra & Mahendra Financial Services Limited(Mahendra FInance) a leading provider of financial services in the rural and Semi-urban markets anounced today the unaudited financial results for the quaters ended 30th june,2015

F 2015 Q4 Results declared; Income up by 12%; PAT up by 7%

23/04/2015

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the audited financial results for the quarter and year ended 31st March 2015.

F-2015 YTD Dec.2014 Income up by 15%, F-2015 YTD Dec.2014 PAT down by 12%

17/01/2015

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets, announced today, the unaudited financial results for the third quarter and nine months period ended 31st December, 2014.

F-2015 Q2 Income up by 14%; F-2015 Q2 PAT down by 6%

14/10/2014

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets, announced today, the audited financial results for the quarter and half year ended 30th September, 2014.

F-2015 Q1 Income up by 18%; F-2015 Q1 PAT down by 16 %

24/07/2014

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance / MMFSL), a leading provider of financial services in the rural and semi-urban markets, announced today, the unaudited financial results for the quarter ended 30th June, 2014.

F-2014 AUM up by 22% Crosses Rs.34000 crores

23/04/2014

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets, announced today, the audited financial results for the quarter and year ended 31 st March 2014.

F-2014 YTD December 2013 Consolidated PAT up by 6%

22/01/2014

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets, announced today, the unaudited financial results for the quarter and 9 months period ended 31st December 2013.

Mahindra Finance Standalone Results December 2018

25/01/2019

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the standalone unaudited financial results for the third quarter and nine-month period ended December 31, 2018.

Mahindra Finance to organize 2-Wheeler to 20-Wheeler Maha Loan Mela in Nagpur

21/01/2019

Mahindra & Mahindra Financial Services (Mahindra Finance) organized a 2-Wheeler to 20-Wheeler Maha Loan Mela at Nagpur in Maharashtra.

Mahindra & Mahindra Financial Services Limited announces Public Issue of Secured and Unsecured Subordinated Redeemable Non-Convertible Debentures (NCDs)

03/01/2019

Mahindra & Mahindra Financial Services Limited (“Company” or “Mahindra Finance”), plans to undertake a public issue of NCDs opening on January 04, 2019

Mahindra Finance 2Q, FY-19 Financial Results

24/10/2018

Announced today the unaudited financial results for the second quarter and half year ended September 30, 2018.

Mahindra Mutual Fund Launches NFO ‘Mahindra Rural Bharat and Consumption Yojana

09/10/2018

Mahindra Mutual Fund, a wholly owned subsidiary of Mahindra and Mahindra Financial Services Limited (MMFSL) launched new open ended equity scheme Mahindra Rural Bharat and Consumption Yojana. 

 IFC invests $25 million in Mahindra Rural Housing Finance for housing loans to rural poor

02/08/2018

IFC, a member of the World Bank Group, is investing INR 1.6 billion ($25 million) in Mahindra Rural Housing Finance Ltd. (MRHFL), one of the largest finance companies, focused on rural housing. MRHFL will use the proceeds to give loans to low-income borrowers in villages.

Mahindra Mutual Fund Launches New Debt Fund ‘Mahindra Credit Risk Yojana

26/07/2018

Mahindra Mutual Fund launched new open ended debt scheme ‘Mahindra Credit Risk Yojana,’ for investors who are seeking reasonable income and capital appreciation over medium to long term.

Mahindra Mutual Fund Strengthens its Portfolio Management Team

10/07/2018

Mahindra Mutual Fund, a wholly owned subsidiary of Mahindra and Mahindra Financial Services Limited (MMFSL) announced appointment of key fund managers, while strengthening the portfolio management team.

IFC invests $100 million in Mahindra Finance

03/07/2018

IFC, a member of the World Bank Group, has invested INR 6.4 billion ($100 million) in Mahindra & Mahindra Financial Services Ltd (Mahindra Finance).

Unaudited Financial Results for the third quarter and nine months ended

24/06/2018

The Board of Directors at its Meeting held today i.e. on 24th January, 2018 has inter alia, approved the Unaudited Financial Results of the Company for the third quarter and nine months ended 31st December, 2017. The Meeting of the Board of Directors commenced at 12.15 p.m. and concluded at 2.30 p.m

MMFSL to organize 2-Wheeler to 20-Wheeler Maha Loan Mela in Kharagpur

21/06/2018

Mahindra & Mahindra Financial Services (Mahindra Finance) organized a 2-Wheeler to 20-Wheeler Maha Loan Mela at Kharagpur in West Bengal.

Mahindra Insurance Brokers partners with Nagpur Nagrik Sahakari Bank to offer customized Life Insurance Solutions

20/06/2018

Mahindra Insurance Brokers Ltd (MIBL), a leading insurance broking company primarily serving rural and semi-urban India, SMEs and Corporates, has partnered with Nagpur Nagarik Sahakari Bank (NNSB).

F-2019 Q1 Standalone Results; PAT up by 34% at Rs. 269 Crores, Income up by 29% at Rs.1940 Crores, AUM up by 21%, crosses Rs.58000 Crores

27/07/2018

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the unaudited financial results for the quarter ended June 30, 2018.

F-2018 Q3 Consolidated Results ; AUM up by 13%, at Rs.51782 Crores; Income up by 26%, at Rs.2195 Crores; PAT in F18Q3 stood at Rs.365 Crores against Rs.12 Crores in F17Q3 - 24th January 2018

24/01/2018

F-2018 Q3 Consolidated Results ; AUM up by 13%, at Rs.51782 Crores; Income up by 26%, at Rs.2195 Crores; PAT in F18Q3 stood at Rs.365 Crores against Rs.12 Crores in F17Q3 - 24th January 2018

Press Release - Mahindra Electric partners with the Mahindra Finance to introduce SmartLease -2nd August, 2017

02/08/2017

Mahindra Electric and Mahindra Finance, part of the diversified USD 19 billion Mahindra Group, today announced the introduction of SmartLease, a first of its kind leasing scheme for individual customers of the Mahindra e2oPlus, the all-electric CitySmart car.

Mahindra Finances hikes FD rates

18/06/2018

Mahindra Finance has increased the interest rate on fixed deposits.

Mahindra Finance hikes fixed deposit rates to 8.75%

18/06/2018

Mumbai, June 18, 2018: Mahindra Finance, a leading Non-Banking Finance Company (NBFC) focused on rural and semi-urban markets, has announced an upward revision of interest rates on its term deposits. In order to encourage paperless and depositor friendly transactions, Mahindra Finance is offering additional 25 basis points (bps) or 0.25 percent interest on online deposits.

Mahindra Finance to organize 2-Wheeler to 20-Wheeler Maha Loan Mela in Udhampur

23/05/2018

Mahindra & Mahindra Financial Services (Mahindra Finance), organized a 2-Wheeler to 20-Wheeler Maha Loan Mela at Udhampur in, Jammu. 

F-2018 Standalone Results

25/04/2018

Mumbai, April 25, 2018: The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the audited financial results for the quarter and twelve months / financial year ended March 31, 2018.

Mahindra Finance F-2018 Standalone Results

25/04/2018

Announced today the audited financial results for the quarter and twelve months / financial year ended March 31, 2018.

Mahindra Finance, the first NBFC globally to be rated at Maturity Level 5 of the People CMM®

20/03/2018

Mahindra & Mahindra Financial Services Ltd. (MMFSL) has been appraised and rated at Maturity Level 5 of the CMMI Institute's People-Capability Maturity Model (P-CMM).

Mahindra & Mahindra Financial Services Sector rolls out Digital Financial Literacy Campaign across rural India

08/03/2018

The Mahindra & Mahindra Financial Services Sector (Mahindra FSS) has launched a digital financial literacy campaign across rural India.

Mahindra Insurance Brokers Limited - First Company in the BFSI sector globally to be Rated at Maturity Level 5 of the People CMM®

16/02/2018

Today announced that it has been appraised and rated at Maturity Level 5 of the CMMI Institute’s People-Capability Maturity Model(P-CMM®) thus becoming the first insurance broking company

Mahindra Finance F-2018 Q3 Consolidated Results

24/01/2018

Today the unaudited financial results for quarter and nine months ended 31st December, 2017.

Mahindra AMC launches “Mahindra Unnati Emerging Business Yojana”

27/12/2017

Mahindra Asset Management Company Pvt. Ltd. (MAMCPL), the investment manager to Mahindra Mutual Fund and a wholly owned subsidiary of Mahindra Finance will launch Mahindra Unnati Emerging Business Yojana, Mid Cap Fund – An open ended equity scheme predominantly investing in mid cap schemes. The New Fund Offer opens on January 8, 2018 and closes on January 22, 2018. The scheme will reopen for continuous sale and repurchase from February 6, 2018.

Mahindra Finance brings ‘Lifeline Express’ to Ballarpur, Chandrapur

27/11/2017

Nagpur/Chandrapur, November 27, 2017: The Honorable Cabinet Minister of Finance & Planning and Forest Departments, Government of Maharashtra, Mr. Sudhir Mungantiwar today inaugurated the Lifeline Express at Ballharshah Railway station in Chandrapur, in the presence of Mr. Vinay Deshpande, Chief People Officer, Mahindra Finance.

Mahindra AMC declares 10% dividend in Mahindra Mutual Fund Kar Bachat Yojana

08/11/2017

Mahindra Asset Management Company Pvt. Ltd. (MAMCPL), the investment manager to Mahindra Mutual Fund and the wholly owned subsidiary of Mahindra Finance, announced a dividend of 10 % (Re. 1 per unit on face value of Rs.10) in its open ended equity linked saving scheme – Mahindra Mutual Fund Kar Bachat Yojana – Direct and Regular plan(s).

Mahindra Finance Board approves Issue of Equity Shares Capital to be raised through QIP and Preferential Issue to M&M

01/11/2017

Mumbai, November 1, 2017: The Board of Directors of Mahindra & Mahindra Financial Services Limited (‘Mahindra Finance’), a leading provider of financial services in the rural and semi-urban markets, has subject to approval from the shareholders, approved the issue of equity shares through the Qualified Institutions Placement (‘QIP’) route for upto 2.4 crores equity shares/ securities convertible into equity shares and a preferential issue to Mahindra & Mahindra Limited (‘M&M’) for upto 2.5 crores equity shares.

F-2018 Q2 Consolidated Results Income up by 14%, PAT declined by 11%, AUM up by 14%, at 49918 Crores

25/10/2017

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the audited financial results for quarter and half year ended 30th September, 2017.

F-2018 Q2 Consolidated Results

25/10/2017

Mumbai, October 25, 2017: The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the audited financial results for quarter and half year ended 30th September, 2017.

Mahindra Finance Announces Winners of Rural Talent Hunt - ‘Bharat Ki Khoj’

16/10/2017

Mahindra and Mahindra Financial Services (Mahindra Finance), a leading provider of financial services in rural and semi-urban India, has announced the winners of its rural talent hunt programme, ‘Bharat Ki Khoj’. The programme, a unique initiative designed specifically for rural India, is in line with Mahindra Group’s 'Rise’ philosophy. It provides participants from the deepest pockets of rural India with a platform to showcase their talent at the District and State level before qualifying for the Finals. Top ten finalists showcased their talent across various performing arts including dance, music, art and live theatrics at the grand finale in Mumbai.

Mahindra Finance attracts new investment with focus on increasing insurance penetration in Rural India

16/10/2017

Mahindra Insurance Brokers Ltd. (MIBL), a leading insurance broker primarily serving rural and semi-urban India, today announced that XL Group – through its subsidiaries a leading global insurer and reinsurer operating under the XL Catlin brand – is to acquire a 20% minority stake in the company, subject to satisfaction of customary closing conditions by all stakeholders. MIBL, a subsidiary of Mahindra & Mahindra Financial Services Ltd. (Mahindra Finance) and a licensed Composite Broker, has demonstrated noteworthy growth and profitability over the past 13 years. MIBL’s current valuation is at Rs.1,300 crores (approx. US$ 200 million).

Mahindra Finance Announces Winners of Rural Talent Hunt - ‘Bharat Ki Khoj’

16/10/2017

Mumbai, October 16, 2017: Mahindra and Mahindra Financial Services (Mahindra Finance), a leading provider of financial services in rural and semi-urban India, has announced the winners of its rural talent hunt programme, ‘Bharat Ki Khoj’. The programme, a unique initiative designed specifically for rural India, is in line with Mahindra Group’s 'Rise’ philosophy. It provides participants from the deepest pockets of rural India with a platform to showcase their talent at the District and State level before qualifying for the Finals. Top ten finalists showcased their talent across various performing arts including dance, music, art and live theatrics at the grand finale in Mumbai.

F-2018 Q1 Standalone Results

24/07/2017

Mumbai, July 24, 2017: The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the unaudited financial results for quarter ended 30th June, 2017.

Public Issue of Unsecured Subordinated Redeemable Non-Convertible Debentures

05/07/2017

We enclose herewith the Press Release being issued by the Company today pertaining to the Public Issue of Unsecured Subordinated Redeemable NonConvertible Debentures (“NCDs”) of the face value of Rs. 1,000 each for an amount of Rs.25,000 lakhs with an option to retain Qversubscription upto Rs. 1,75,000 Lakhs aggregating upto Rs. 2,00,000 lakhs (“Tranche 1 Issue").

Mahindra Mutual Fund Dhan Sanchay Yojana declares dividend

12/06/2017

Mahindra Asset Management Company Pvt. Ltd. (MAMCPL), the investment manager to Mahindra Mutual Fund and the wholly owned subsidiary of Mahindra Finance, announced a dividend of 1.50% (Rs.0.15 per unit on face value of Rs.10) in its open ended equity fund – Mahindra Mutual Fund Dhan Sanchay Yojana – Direct and Regular plan(s).

Mahindra AMC launches two new schemes - Mahindra Mutual Fund Bal Vikas Yojana and Mahindra Mutual Fund Badhat Yojana

03/05/2017

Mahindra Asset Management Company Pvt. Ltd. (MAMCPL), the investment manager to Mahindra Mutual Fund and the wholly owned subsidiary of Mahindra Finance, announced the launch of its two open-ended schemes ‘Mahindra Mutual Fund Bal Vikas Yojana’ an open ended balanced scheme and ‘Mahindra Mutual Fund Badhat Yojana’ an open ended equity scheme. The new fund offer
will open from April 20, 2017 and will close on May 4, 2017. Thereafter, the scheme(s) will reopen for continuous sale and repurchase from May 18, 2017.

F-2017 Q4 Standalone Results - Income up by 9% Disbursement up 23% PAT declined by 37% AUM up by 14%, crosses 46000 Crores

25/04/2017

The Board of Directors of Mahindra & Mahindra Financial Services Limited (Mahindra Finance), a leading provider of financial services in the rural and semi-urban markets announced today the audited financial results for quarter and year ended 31st March, 2017.

F-2017 Q4 Standalone Results - Income up by 9% Disbursement up 23% PAT declined by 37% AUM up by 14%, crosses 46000 Crores

25/04/2017

Mahindra Asset Management Company Pvt. Ltd. (MAMCPL), the investment manager to Mahindra Mutual Fund and the wholly owned subsidiary of Mahindra Finance, announced the launch of its two open-ended schemes ‘Mahindra Mutual Fund Bal Vikas Yojana’ an open ended balanced scheme and ‘Mahindra Mutual Fund Badhat Yojana’ an open ended equity scheme. The new fund offer
will open from April 20, 2017 and will close on May 4, 2017. Thereafter, the scheme(s) will reopen for continuous sale and repurchase from May 18, 2017.

Mahindra AMC to launch Mahindra Mutual Fund Dhan Sanchay Yojana

26/12/2016

Mahindra Asset Management Company Pvt. Ltd. (MAMCPL), the investment manager to Mahindra Mutual Fund and the wholly owned subsidiary of Mahindra Finance, today announced the launch of its open-ended equity scheme "Mahindra Mutual Fund Dhan Sanchay Yojana". The scheme seeks to generate long term capital appreciation and income through investments in equity and equity related instruments, arbitrage opportunities and debt & money market instruments. The new fund offer will open from January 10, 2017 and will close on January 24, 2017. Thereafter, the scheme will reopen for continuous sale and repurchase from February 8, 2017.

Mahindra Finance wins “Conscious Capitalist for the Year” Award at Forbes India Leadership Awards 2016

11/11/2016

Mahindra Finance, a leading provider of financial services in rural and semi-urban India, won the ‘Conscious Capitalist for the Year’ award at the Forbes India Leadership Awards 2016, for its stellar role in promoting sustainable and transformational business practices resulting in deep-rooted benefits to the community.

Save Tax and Build a Tax-free Investment Corpus through Long Term Investment

22/08/2016

Mahindra Asset Management Company Pvt. Ltd. (MAMCPL), the investment manager to Mahindra Mutual Fund and a wholly owned subsidiary of Mahindra Finance, today, launched Mahindra Mutual Fund Kar Bachat Yojana – an Open Ended ELSS Scheme with a 3 year lock-in period. The New Fund Offer closes on October 7, 2016, and will reopen for continuous sale and repurchase from October 19, 2016.

Mahindra Insurance Brokers introduces innovative ‘Pay-As-You-Can’ model to increase insurance penetration

07/07/2016

Mahindra Insurance Brokers Ltd. (MIBL), has introduced an innovative “Pay-As-You-Can” digitally-enabled model, that is set to redefine the distribution of insurance solutions and drive insurance penetration in India. This socially progressive initiative will provide customers access to insurance products, with the flexibility of paying premium based on their affordability. This model will enable any service provider with a large customer base, to offer affordable and tailor-made insurance covers to their customers in a seamless manner.

In the News

13/01/2022
Economic Times

Quiklyz to offer range of EVs for leasing, subscription to customers

Quiklyz, the vehicle leasing and subscription arm of Mahindra Finance, has said it will offer the widest range of electric vehicles (EVs) for leasing and subscription to potential customers. Launched in November last year, Quiklyz digital platform provides a subscription programme for both retail and corporate customers.

13/12/2021
Economic Times

Mahindra & Mahindra Financial Services reports Rs2,500cr disbursement in November 2021, up 17% yoy

Mahindra & Mahindra Financial Services Limited informed the exchanges Thursday that in November 2021, the business continued its momentum with the disbursement of Rs2,500cr delivering 17% yoy growth. The Collection Efficiency too improved further to 94%, yoy (November 2020 – Collection Efficiency was 84%) and sequentially (October 2021 - Collection Efficiency was 91%).

07/09/2021
Economic Times

Mahindra Finance disburses over Rs 2,000 crore in August

Mahindra Finance, a leading non-banking financial company, said the business continued its momentum in August 2021 with a disbursement of more than Rs 2,000 crore for the second month in a row.

29/06/2020
Forbes

Banks and NBFCs have to become solution providers: Ramesh Iyer, M&M Financial Services

Mahindra Finance is a semi-urban rural-focussed finance company. All our 1,300-plus branches are in districts beyond metros. Therefore, 90 percent of our business is from semi-urban rural markets. Our urban presence would be limited to customers who are operating taxis for Ola and Uber in metros; beyond that we don’t have a major metro presence.

20/02/2020
Financial Express

Mahindra Finance to grow small-ticket loan book to Rs 25,000 cr

The company has been providing small ticket loans, including personal, consumer durable and two-wheeler loans, to existing customers who have paid their installments regularly for a period of 12 months.

19/02/2020
Live Mint

Mahindra Finance sees revival in auto demand by October

Arebound in consumer demand is expected to start from the festive season later this year as the domestic automobile industry steadies from its ongoing transition towards stricter Bharat Stage-VI (BS-VI) emission norms, said Ramesh Iyer, vice-chairman and managing director of Mahindra and Mahindra Financial Services Ltd (MMFSL).

28/01/2020
Economic Times

Mahindra Finance Q3 profit rises 16% to Rs 475 crore

Mahindra & Mahindra Financial Services Ltd on Tuesday reported 16 per cent rise in its consolidated net profit to Rs 475 crore in the third quarter ended December 31.

08/12/2019
Times

From farm to home, M&M Financial is doubling down on digital sales

A diversity can often open up new avenues. For Mahindra & Mahindra Financial Services, it might have just opened up new revenue streams.

16/10/2019
Economics Times

Mahindra Finance chief Ramesh Iyer to head FIDC

Ramesh Iyer ,Vice-Chairman and Managing Director of Mahindra and Mahindra Financial Service Ltd, has taken over as the Chairman of Finance Industry Development Council(FIDC)

03/10/2019
Economics Times

We expect demand to pick up and second half should be good: Ramesh Iyer, M&M Financial

We have been focussing on the semi-urban rural market and we do see that the festival demand, at least the footfall at the dealerships are much much higher than what it was in the last six months.

10/12/2019
Business Standard

Real growth story to start next festive season: M&M Finance MD Ramesh Iyer

Auto financiers such as Mahindra & Mahindra Financial Services (M&M Fin) have been facing the brunt of weak vehicle sales for the past year. The non-banking financial company (NBFC), too, has witnessed around 10 per cent year-on-year decline in its loan disbursement in the September quarter.

24/04/2019
Economic Times

Mahindra Finance posts 87% profit growth in Q4

Mumbai: Mahindra Finance’s March quarter profit surged 87% to Rs.588 crores on the back of strong loans growth and improved recovery of past bad loans.

24/04/2019
Business Standard

Mahindra Finance net profit jumps 87% to Rs 588 cr in March quarter

Mahindra Finance Wednesday reported an 87 per cent rise in net profit to Rs 588 crore for the fourth quarter ended March 2019.

Media Coverage

Print

M&M Finance eyes Rs 20,000-crore small-ticket loans via e-platform

Mahindra Finance net profit jumps 34%

M&M Fin Profit Up 34% on Strong Rural Show

Mahindra Fin Q2 consolidated net profit rises 34% to ₹353 cr

Mahindra Finance rights issue subscribed 1.3 times

Rights issue will take care of our capital needs for 2-3 years

M&M Financial Expects Growth of 30-35% in Three Years: MD

Banks and NBFCs have to become solution providers: Ramesh Iyer, M&M Financial Services.

From Farm to Home, Mahindra Financial Services is doubling down on digital sales - The Economic Times

Mahindra Finance chief Ramesh Iyer to head FIDC - ETBFSI

We see demand picking up in second half – Ramesh Iyer, M&M Financial Services - ET Now

Real growth story to kick off next festive season - Business Standard

We’ll be comfortable with 6% Gross NPAs on a 90-day basis - The Economic Times

Mahindra Finance set to enter 2-wheeler financing - The Economic Times

Our forecast is a 50-60 bps increase in interest rates - Financial Express

With Mahindra Finance, it pays to go online - The Economic Times

On a growth trajectory - Business India

M&M may list rural housing finance arm around 2020 - Business Standard

M&M Financial Services Steps On The Pedal - Business Standard

Mahindra Finance Q4 net surges 82% to touch Rs. 425 Crs. - Business Line

Mahindra Financial to raise up to Rs. 15000 Cr this fiscal year from lenders, sale of bonds - Mint

We expect second half of FY19 to be good for Rural market – Mint

Special Report - Dalal Street Investment Journal

Television

Online

Mahindra Finance plans to separate fintech biz, mulls banking licence

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Good NPA recovery is expected in the fourth quarter: Ramesh Iyer, Mahindra Finance

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Mahindra Finance Q2 net profit up 34%

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Mahindra Finance Q2 consolidated net profit rises 34% to ₹353 crore

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Ramesh Iyer on four growth drivers for M&M Finance in FY21

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Mahindra Finance's ₹3,089 cr rights issue subscribed 1.3 times

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M&M Financial Services’ Ramesh Iyer Says Rural Demand Could Turn Around After October

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Rights issue will take care of our capital needs for 2-3 years

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Mahindra Financial Services Q1 profit before tax up 98% to Rs 208 crore

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Money control article: Mahindra Finance posts Rs 156 crore profit in April-June

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Mahindra Finance posts Rs 156 cr profit in Apr-Jun

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Banks and NBFCs have to become solution providers: Ramesh Iyer, M&M Financial Services.

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Mahindra Finance sees revival in auto demand by October

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Mahindra Finance to grow small-ticket loan book to Rs 25,000 cr

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Mahindra Finance Q3 profit rises 16% to Rs 475 crore

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Things are changing for good in rural India, cash flows to sustain in election year- April 26

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M&M Financial Services Expects Bad Loans To Decline Further - April 26

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What do CEOs expect from recruiters? - May 30

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We will eventually pass on the rate hike to consumers - June 08

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Cash in Villages Signals End of Struggle for This Indian Lender - June 14

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IFC invests $100 million in Mahindra Finance - July 04

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Widespread monsoon has been a good start for rural market, says MMFSL - July 09

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To boost farm & MSME sector – IFC (World Bank Arm) invests USD$100 million in Mahindra Finance - July 03

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FLIP SIDE: Ramesh Iyer MD, Mahindra Finance - July 24

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Credit growth driven by pre-owned vehicles, CVs, says Mahindra Finance’s MD - July 31

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Worst In Terms Of Bad Loans Is Over, Says M&M Financial Services - July 30

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Mahindra Finance net profit jumps 87% to Rs 588 cr in Q4FY19

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Mahindra Finance net profit jumps 87% to Rs 588 crore in March quarter

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M&M Financial Services net rises 86%

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Mahindra Finance net profit jumps 87 pc to Rs 588 cr in March quarter

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Mahindra Finance on a Growth Trajectory

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Mahindra Finance

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Dumbed-Down Solutions Won't Work in Rural India

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Toyota ties up with Mahindra Financial Services for auto loans

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Outlook Business - Ramesh Iyer

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M & M Finance eyes S Korea, S Africa, China

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NBFCs set up units to serve lowcost housing Home

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Mahindra & Mahindra Financial Services receives the Amity HR Excellence Award for Retention

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Mahindra Finance Felicitated By CIO Magazine in the 3rd Annual CIO 100 Awards, India

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Mahindra Finance Wins Coveted "Pioneer Award"

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Mahindra Finance in talks with GM, Hyundai to tap rural market

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MMFSL Award

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Flush-out and after

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Maruti in past with rural banks

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Reap a Bumper Harvest

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M&M Fin to raise Rs 50 cr

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M&M Financial placement

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M&M Financial plans Rs 50 pvt placement

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MMFSL to sew up loan plans

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Bank stocks gain ground; FII inflows help sentiment

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Scorpio and SEZs were your big bets that paid off

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We Want to next Land Ro

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Tech Mahindra was developed in 3 phases

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The big fish for us is, of course, the US

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We plan to take Club Mahindra globa

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All division must become leaders

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M&M Financial Services

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Special Report

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Money Facts Stocks

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Global clues continue to dominate

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Investor conferences grab brokerages' fancy

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Curbs on NBFC lending

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HPCL lines up Rs 1,140 crore to set up 3,000 retail outlets

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Mahindra Fin sets up rural housing finance unit

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Retail investors lose out on infobahn as IPO-bound cos humour big fish

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Mahindra Finance – the last word in rural finance

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We are a significant player for every OEM operating out of rural market: Ramesh Iyer, M&M Financial

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Things are changing for good in rural India, cash flows to sustain in election year: Ramesh Iyer, M&M Financial

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Mahindra Finance Q4 profit jumps 82% YoY to Rs 425 crore

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M&M Financial Services hits record high on Q4 net profit

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Our forecast is a 50-60 bps increase in interest rates’, says Ramesh Iyer, Vice-Chairman and MD of Mahindra Finance

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Media Kit

Overview

Mahindra & Mahindra Financial Services Limited (Mahindra Finance) is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, the Company has over 7.3 million customers and has an AUM of over USD 11 Billion. The Company is a leading vehicle and tractor financier, provides loans to SMEs and also offers fixed deposits. The Company has over 1,380 MMFSL offices and reaches out to customers spread over 3,80,000 villages and 7,000 towns across the country. It is a part of the Mahindra Group, one of the largest business houses in the country.

AUM of over

USD 11 Billion

Pan India

1380+ offices

Customers

7.3+  Million

Reach

3,80,000 villages & 7000 towns

Download

Factsheet

Executive Profiles

Dr. Anish Shah

Dr. Anish Shah is the Managing Director and CEO of Mahindra & Mahindra Ltd. He joined Mahindra Group in 2014, as Group President (Strategy), and worked closely with all businesses on key strategic initiatives, built capabilities such as digitization & data sciences and enabled synergies across group companies. In 2019, he was appointed Deputy Managing Director and Group CFO, with responsibility for the Group Corporate Office and full oversight of all businesses other than the Auto and Farm sectors, as a part of the transition plan to the CEO role.

Anish was President and CEO of GE Capital India from 2009-14, where he led the transformation of the business, including a turnaround of its SBI Card joint venture. His career at GE spanned 14 years, during which he held several leadership positions at GE Capital’s US and global units. As Director, Global Mortgage, he worked across 33 countries to drive growth and manage risk. As Senior Vice President (Marketing and Product Development) at GE Mortgage Insurance, he led various growth initiatives and played a key role in preparing the business for an IPO, as a spinoff from GE. In his initial years with GE, Anish also led Strategy, eCommerce and Sales Force Effectiveness and had the unique experience of running a dotcom business within GE. Anish also received GE’s prestigious Lewis Latimer Award for outstanding utilisation of Six Sigma in developing a “Digital Cockpit.”

He has diverse experience with global businesses beyond GE. He led Bank of America's US Debit Products business, where he launched an innovative rewards program, led numerous initiatives in payment technology and worked closely with various teams across the Bank to enhance value for the customer.

As a strategy consultant at Bain & Company in Boston, he worked across multiple industries, including banking, oil rigs, paper, paint, steam boilers and medical equipment. His first role was with Citibank in Mumbai, where he issued bank guarantees and letters of credit as Assistant Manager, Trade Services.

Anish holds a Ph.D from Carnegie Mellon’s Tepper School of Business where his doctoral thesis was in the field of Corporate Governance. He also received a Masters degree from Carnegie Mellon and has a post-graduate diploma in Management from the Indian Institute of Management, Ahmedabad. He has received various scholarships, including the William Latimer Mellon Scholarship, Industry Scholarship at IIMA, National Talent Search and Sir Dorabji Tata Trust.

Dr. Anish Shah

Non-Executive Chairman
Mr. Ramesh Iyer

Mr. Ramesh Iyer’s key mandate at Mahindra Group is to drive inclusive growth, aligned to our guiding belief of driving rural prosperity. He has been instrumental in building Mahindra Finance since 1994 into one of India’s leading rural finance companies.

Mr. Iyer manages the Financial Services Sector of the Mahindra Group which includes Mahindra & Mahindra Financial Services Limited, Mahindra Insurance Brokers Limited, Mahindra Rural Housing Finance Limited, Mahindra Manulife Investment Management Private Limited and Mahindra Manulife Trustee Private Limited. He also oversees the operations of Mahindra Finance USA, LLC., a U.S. joint venture with De Lage Landen Financial Services Inc., (DLLFS) a wholly-owned subsidiary of the Rabobank Group. The total Assets Under Management (AUM) of the Sector is more than Rs. 80,000 Crores (around 11 billion US$).

Mr. Iyer has been closely involved in the development of the Country’s dynamic Financial Services Sector. Mr. Iyer is the Chairman of Finance Industry Development Council (FIDC) and the Confederation of Indian Industry (CII) WR Task Force Committee on Human Resources and also co-chairs the NBFC Committee of IMC Chamber of Commerce & Industry. He is an active member on various committees like CII National Committee on Financial Inclusion and Digitisation, CII National Committee on Leadership & HR, Banking & Finance Committee of the Bombay Chamber of Commerce and Industry (BCCI) and the Taskforce of NBFCs of the Federation of Indian Chambers of Commerce and Industry (FICCI). He also serves on the boards of several Mahindra Group Companies.

Apart from being on the various bodies of the Financial Services Sector, Mr. Iyer is also on the Advisory Boards of various Educational Institutions like IITB-Washington University, Vidyalankar Institute Of Technology – School Of Management, WeSchools’ PGDM-Rural Management Committee and on the College Development Committee of Vivek College of Commerce.

Mr. Ramesh Iyer

Vice-Chairman & Managing Director
Mr. Dhananjay Mungale

Mr. Dhananjay Mungale is a member of the Institute of Chartered Accountants of India and has a Bachelor's Degree in Commerce and Law from Mumbai University. He has spent a major part of his career in corporate and investment banking in India and Europe. He was Vice President – Private Banking, Bank of America and was a Member – Executive Committee, DSP Merrill Lynch Limited. Presently, he is an advisor to various corporations in both, India and Europe. He has been elected on boards of various public and private limited companies. He is a Member of Development Council - Oxford Centre for Hindu Studies, Oxford, U.K. and is a Member of the National Committee of Mahindra United World College.

Mr. Dhananjay Mungale

Independent Director
Mr. C. B. Bhave

Mr. Chandrashekhar Bhave started his career in the Indian Administrative Service (IAS) in 1975 after completing his bachelor's degree in Electrical Engineering. He worked in different positions in the Central and State Governments and also won awards from the Government of Maharashtra for his outstanding work in the area of family welfare and excellence in administration. He then worked in Securities and Exchange Board of India (SEBI) as a Senior Executive Director from 1992–1996, helping create the regulatory infrastructure for Indian capital markets.

Mr. Bhave then took voluntary retirement from the IAS to set up the National Securities Depository Limited (NSDL) in 1996 and was its Chairman and Managing Director from 1996 to 2008. Mr. Bhave was the Chairman of SEBI, India's capital markets regulator, from 2008 to 2011. He was also the Chairman of the Asia-Pacific Regional Committee and a member of the Technical and the Executive Committees of the International Organisation of Securities Commissions (IOSCO), over this period.

Mr. Bhave has several professional affiliations that include:

  • Member of the Board of the Public Interest Oversight Board (PIOB), Madrid which supervises the work of the standard-setting bodies of the International Federation of Accountants from the perspective of public interest.

  • Member of the City of London Advisory Council for India.

  • Trustee of the IFRS Foundation, London that oversees the International Accounting Standards Board.

Mr. Bhave is the Non-Executive Chairman of Indian Institute for Human Settlements (IIHS) a non-profit organisation established for the purpose of creating and disseminating knowledge related to human settlements in the context of urban areas.

Mr. C. B. Bhave

Independent Director
Mrs. Rama Bijapurkar

Mrs. Rama Bijapurkar is a respected thought leader on business-market strategy and on India’s consumer economy. She has an independent market strategy consulting practice and almost four decades of experience in market research and market strategy consulting.

She is a very experienced independent director having served on the boards of several blue chip corporates and social organisations and is a professor of management practice at Indian Institute of Management Ahmedabad, and author of acclaimed books on India’s consumer market and consumer based business strategy.

Mrs. Bijapurkar holds a B.Sc. (Hons) degree in physics from the University of Delhi and a Post Graduate Diploma in Management from Indian Institute of Management, Ahmedabad. Past employment includes McKinsey & Company, MARG Marketing and Research Group (now AC Nielsen India) and full time consulting with Hindustan Lever Limited (now Hindustan Unilever Limited).

Mrs. Rama Bijapurkar

Independent Director
Mr. Milind Sarwate

Mr. Milind Sarwate is an Independent Director, Cost Accountant, Company Secretary, Commerce Graduate and CII-Fulbright Fellow (Carnegie Mellon University, Pittsburgh, USA). He brings over 35 years of experience in Finance, HR, Strategy and Corporate Communication in groups such as Marico and Godrej.

Mr. Milind Sarwate is the Founder & CEO of Increate Value Advisors LLP. His mission is to facilitate organizations and individuals create business and social value. He works towards his mission through various roles, such as Advisor, Board Member and Investor.

His advisory roles cover the Consumer sector and the Social Responsibility sector.His Directorships include Glenmark, Mindtree, Metropolis Healthcare, Matrimony.com and House of Anita Dongre.His investment focus areas include Consumer sector and funds/entities built around expertise Verticals of Finance and Human Resources.

Mr. Milind Sarwate received the ICAI Award-CFO-FMCG in 2011 and the CNBC TV-18 CFO Award-FMCG & Retail in 2012. He was included in CFO India’s Hall of Fame in 2013.

Mr. Milind Sarwate

Independent Director
Mr. Amit Raje

Amit Raje is currently Whole-time Director of Mahindra & Mahindra Financial Services Limited designated as “Chief Operating Officer Digital Finance – Digital Business Unit”. Amit joined the Mahindra Group in July 2020 as Executive Vice President – Partnerships & Alliances and was responsible for leading M&A and Investor Relations. Prior to joining Mahindra Group, Amit was the Managing Director in the Principal Investing Area of Goldman Sachs. He was a Nominee Director of Goldman Sachs on the Boards of Noveltech Feeds Private Limited, Good Host Spaces Private Limited and Global Consumer Products Private Limited. Amit has cumulative experience of over 20 years in Corporate Finance, Mergers & Acquisitions and Private Equity. Prior to Goldman Sachs, he worked with Kotak Investment Advisors Ltd, the alternate asset arm of Kotak Mahindra Bank, and Deloitte & Co in the Transaction Advisory Services.

Amit is a postgraduate from Mumbai University and an MBA with a specialization in Finance & Private Equity, from the London Business School.

Mr. Amit Raje

Whole-time Director – designated as “Chief Operating Officer Digital Finance – Digital Business Unit
Dr. Rebecca Nugent

Dr. Rebecca Nugent is the Stephen E. and Joyce Fienberg Professor of Statistics & Data Science and Department Head for the Carnegie Mellon Statistics & Data Science Department, and an affiliated faculty member of the Block Center for Technology and Society. She has over 15 years of experience in university-level academia in statistics & data science consulting, research, applications, education, and administration. Dr. Nugent is the co-chair of the National Academy of Sciences, Engineering, and Medicine study on Improving Defense Acquisition Workforce Capability in Data Use and recently served on the NASEM study Envisioning the Data Science Discipline: The Undergraduate Perspective.

She is the Founding Director of the Statistics & Data Science Corporate Capstone program, an experiential learning initiative that partners with industry and government organizations on developing and deploying data science solutions to current business challenges and regularly consults with global enterprises in finance, marketing, health care, and educational technology. Dr. Nugent has worked extensively in clustering and classification methodology with an emphasis on high-dimensional, big data problems and record linkage applications and has served in related leadership positions including President of the International Federation of Classification Societies (slated for 2022). Her current research focus is the development and deployment of interactive data analytics platforms that promote data-informed decision making and allow for adaptive instruction and the study of data science as a science.

She has won several national and university teaching awards including the American Statistical Association Waller Award for Innovation in Statistics Education and serves as one of the coeditors of the Springer Texts in Statistics.

She received her PhD in Statistics from the University of Washington, her M.S. in Statistics from Stanford University, and her B.A. in Mathematics, Statistics, and Spanish from Rice University.

Dr. Rebecca Nugent

Independent Director
 Mr. Amit Kumar Sinha

Mr. Amit Kumar Sinha has been appointed by Mahindra & Mahindra Limited (“M&M”) the parent company, as President, Group Strategy, effective 1st November, 2020. Mr. Amit Kumar Sinha is leading the Group Strategy Office and works with Group’s overall portfolio of businesses for growth over the short, medium and long-term. He also champions the international council and helps coordinate international synergies across Americas, Asia Pacific and Africa. His portfolio also includes the Risk and Economist functions. He is part of the Group Corporate Office Leadership Team.

Prior to joining M&M, Mr. Amit Kumar Sinha was a Senior Partner and Director with Bain & Company. Over 18 years at Bain, he managed large-scale, multi-country strategy, organization, digital and performance improvement projects. He also led numerous commercial due diligences and full potential portfolio strategy projects (post buyout) for leading Private equity funds across U.S., and India. Mr. Amit Kumar Sinha started his career with Tata Motors and worked with IGate Patni (now Capgemini) in technology leadership roles in India, Singapore and US.

Mr. Amit Kumar Sinha holds dual MBA from The Wharton School, University of Pennsylvania, specializing in Finance and Strategy, where he was a Palmer scholar and received Siebel Scholarship. He holds a Bachelor of Engineering (Electrical and Electronics) from the Birla Institute of Technology, Ranchi. Mr. Amit Kumar Sinha is also an Ananta Aspen Fellow as part of their India leadership fellowship, program.

Mr. Amit Kumar Sinha

Additional Non-Executive Non-Independent Director

Media Contact

Mr. Mohan Nair

Get in Touch

Mahindra & Mahindra Financial Services Limited
4th Floor, Mahindra Towers,
Dr. G.M. Bhosale Marg,
P.K. Kurne Chowk, Worli,
Mumbai 400 018.

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Calculate Your EMI

  • Diverse loan offerings
  • Less documenation
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Loan Amount
Tenure In Months
Rate of Interest %
Principal: 75 %
Interest Payable: 25 %

For illustration purpose only

Total Amount Payable

50000

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