MUMBAI: Mahindra is putting its holidays and lifespaces businesses under one strategic roof.
Mahindra Group has announced a dedicated strategic focus on its Holidays and Lifespaces sectors, with an aim to accelerate growth and unlock operational synergies between the two businesses.
The move brings together two of the group’s businesses that it identifies as key “Growth Gems”. The group said several of these businesses have exceeded its fivefold growth expectation over the past five years and are positioned for further expansion.
Mahindra Lifespaces has been among the standout performers. Its residential pre-sales have grown fivefold since FY20, from around Rs 700 crore to approximately Rs 3,500 crore.
The business has also significantly expanded its development pipeline. Its gross development value has increased from around Rs 8,000 crore to Rs 50,000 crore in the past three years, putting it on course for what the group describes as 14-fold pre-sales growth this decade.
Its industrial segment has also delivered strong growth, while the overall business has moved from losses to a profit of around Rs 300 crore in the previous financial year.
Meanwhile, Mahindra Holidays & Resorts India has built a sizeable base in vacation ownership, with more than three lakh members. The business has added over 1,700 rooms as it expands beyond vacation ownership into the broader leisure hospitality market.
The company recently launched Mahindra Signature Resorts, marking its entry into the luxury hospitality segment as it works towards its ambition of becoming a leading hospitality player in India.
“Both Holidays and Lifespaces businesses have tremendous potential. As we move into the next phase of growth, we have been evaluating how to harness the synergies between them to further strengthen the growth trajectory,” said Mahindra Group group chief executive officer and managing director Anish Shah.
The new structure is intended to accelerate growth across the two businesses while creating greater operational synergies between them.
As part of the restructuring, Amit Sinha, currently managing director and chief executive officer of MLDL, will be appointed CEO, Holidays and Lifespaces sector. The appointment will take effect from a future date to be determined.
Sinha will move into the new role once a successor is appointed as CEO of Mahindra Lifespaces. The leadership and reporting structures for the businesses will subsequently be aligned as the new sector model is implemented.
The announcement comes as Mahindra continues to focus its portfolio around businesses with the potential to scale rapidly. Founded in 1945, the group has more than 324,000 employees across over 100 countries and has businesses spanning farm equipment, utility vehicles, technology, financial services, renewable energy, agriculture, logistics, hospitality and real estate.
With real estate and hospitality both moving deeper into their respective growth phases, Mahindra’s latest structure is designed to turn their individual momentum into a more coordinated growth story.