Mahindra Gesco Developers

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Mahindra's May sales down three percent
June 01, 2015 05:51 PM
Automobile manufacturer Mahindra and Mahindra on Monday reported a decline of three percent in its sales for May which stood at 36,706 units down from 37,869 units in the corresponding month of 2014. “The auto industry has been showing signs of recovery and it is important that factors like an interest rate cut if considered, would accelerate growth," said Pravin Shah, chief executive of the automotive division, Mahindra and Mahindra. The Reserve Bank of India (RBI) is scheduled to conduct its bi-monthly monetary policy review on June 2, 2015.  The apex bank will decide whether or not to cut key lending rates at the meeting on Tuesday."At Mahindra, we hope to see improved sentiments with higher level of economic activities and the launch of our new age XUV500 which has received a good initial response. We are also happy with a 41 percent growth in our exports during the last month,” Shah said. Source: IANS
Mahindra & Mahindra Q4 net declines 38.61 percent
May 30, 2015 10:19 AM
Automotive company, Mahindra & Mahindra on Friday said that its net standalone profit during the fourth quarter of 2014-15 declined by 38.61 percent at Rs.550.56 crore against profit of Rs.896.88 crore in the corresponding timeframe in 2013-14. The company said that the slowdown in the automotive and farm equipment segments resulted in the decline of its profitability. It reported a decline of 13.16 percent in its net sales at Rs.9,411.52 crore as against Rs. 10,837.89 crore in the year-ago quarter. In the period under review, the company, alongwith its wholly-owned arm Mahindra Vehicle Manufacturers Ltd (MVML), sold 57,027 utility vehicles, while tractor sales stood at 34,682 units. Source: IANS

Mahindra Gesco Developers was created as a result of the merger of GESCO Corporation Ltd. and MRIDL in the year 2001. The company has helped in the establishment of special economic zones and also led to the creation of 2 structured business cities called Mahindra World City at New Chennai and Jaipur.

Facts about Mahindra Gesco Developers:

The Mahindra Gesco Developers has joined hands with the International Finance Corporation, Washington to work on projects dealing with water supply. Mahindra Gesco Developers has decided to supervise a water-project along with the other major players in the real estate business, and this project will be wholly developed by the private sector. The performance of Mahindra Gesco Developers has been impressive enough to its acknowledgment with the ISO 9001:2000 certification from BVQI.

Projects of Mahindra Gesco Developers:

The company has been able to attain consistent growth in varied sectors such as construction, design, and development. Mahindra Gesco Developers is engaged in the construction and development of a number of projects now, both in the commercial and residential sectors. Some of the commercial and residential projects being developed by the company at the moment include the following:

s The projects under the Commercial Sector are:
  • Mahindra Towers, Delhi
  • HDFC Bank, Chennai
  • GE Galleria, Navi Mumbai
  • GE Plaza, Bangalore
  • GE Plaza, Pune
The projects under the Residential Sector are:
  • Central Bank
  • Fairwinds
  • Mahindra Park
  • Belvedere Court
  • The Great Eastern Retreat
  • The Nest
  • Le Mirage
Joint Ventures of Mahindra Gesco Developers:

Mahindra Gesco Developers is in the process of joining hands with international real estate companies to upgrade the quality of its services and start a series of modern projects in India. The international companies which have entered into a venture with Mahindra Gesco Developers are Semb Corp of Singapore and Knight Frank of U.K. These companies are the major players in the international real estate sector. The persons who are responsible for helping Mahindra Gesco Developers in reaching the apex of its development are Mr. Arun Nanda, the head of the company and Mr. Pranab Dutta, who looks after the management of the company.

Financial position of Mahindra Gesco Developers:

In a meeting held recently by Mahindra Gesco Developers, a dividend of 15% to its share holders had been announced. The company is showing a slight downfall in net sales figures presently, from ` 424.40 million in 2006 to Rs.340.30 million in 2007. The total income has also slipped from ` 429.8 million in 2006 to Rs.371.4 million in 2007. Mahindra Gesco Developers is now heading for the development of its biotechnology sector which will require an investment of Rs.150 crore and 72 acres of land in Mumbai.

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Last Updated on 06th June 2011

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