Low-cost housing is the 'next big thing' for the Group Mahindra because it is 'in sync' with the conglomerate's business philosophy , group MD Anand Mahindra told TOI.
"I am very excited about the potential of low-cost housing because it is in sync with our core business purpose and the DNA that we want to build for the group. So we will continue to look at pan India large townships with special emphasis on lowcost housing through our infrastructure company Mahindra Lifespaces," he said.
The group, he said, has researched the low cost housing segment for two years to see just how 'viable' and 'innovative' it can be as a business model. M&M will focus on largely urban low cost housing and will expand its financing business to offer affordable housing finance as well. Apart from infrastructure , civil aviation is the other growth focus area for the group which will looking at regional aviation to bolster demand for its compact aircraft. "As the demand for regional connectivity grows, we're hoping it will help our aviation products," Mahindra said.
"I am very excited about the potential of low-cost housing because it is in sync with our core business purpose and the DNA that we want to build for the group. So we will continue to look at pan India large townships with special emphasis on lowcost housing through our infrastructure company Mahindra Lifespaces," he said.
The group, he said, has researched the low cost housing segment for two years to see just how 'viable' and 'innovative' it can be as a business model. M&M will focus on largely urban low cost housing and will expand its financing business to offer affordable housing finance as well. Apart from infrastructure , civil aviation is the other growth focus area for the group which will looking at regional aviation to bolster demand for its compact aircraft. "As the demand for regional connectivity grows, we're hoping it will help our aviation products," Mahindra said.
The group will also be 'open' to inorganic growth in retail where it's Mom & Me brand has opened its 60th store and gone into an extention with the Beanstalk brand. "Our retail business is still in start-up mode but we want to carve out a very solid brand so that the customer experience is repeat-worthy ," he said.
He added that although the retail business is currently growing organically, 'if an opportunity comes in the future which will enhance the future of the business we will not be averse to it
However, Mahindra remained tightlipped on the current buzz about M&M pitching for ailing European car brand Saab which is on the block after a deal involving Chinese investors fell through. 'No comments' is all he was willing to say on the matter.
