MAHINDRA GROUP COMPANIES

As of 31st March 2011, the Group flagship company Mahindra & Mahindra Ltd. had 110 Subsidiary Companies Nature of Relationship

Sr. No.
1

Industry
Aerospace

Group Company
Mahindra & Mahindra Limited Mahindra Aerospace Private Limited Mahindra Aerospace Australia Pty Limited Gipp Aero Investments Pty Limited Nomad TC Pty Limited GA 200 Pty Limited GA8 Airvan Pty Limited Aerostaff Australia Pty Limited Airvan Flight Services Pty Limited Gipps Aero Pty Limited

Sector

Products / Services

Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary

Systech

IP holder for Type Design Data IP holder for Type Design Data IP holder for Type Design Data Aero Components Aircraft Operating Company Aircraft

Aftermarket

Mahindra & Mahindra Limited Mahindra First Choice Spares Mahindra First Choice Wheels Limited Mahindra First Choice Services Limited

Division Subsidiary Subsidiary

Aftermarket

Spares Buying & Selling Used Cars Multi-brand Service of Cars

Agri-business

Mahindra & Mahindra Limited Mahindra Shubhlabh Services Limited

Subsidiary

Automotive & Farm Fresh Produce, Agri-Inputs

Automotive

Mahindra & Mahindra Limited Mahindra & Mahindra Limited - Automotive Division Mahindra & Mahindra South Africa (Pty) Limited Mahindra Automobile Distributor Private Limited Mahindra Navistar Automotives Limited Mahindra Vehicle Manufacturers Limited Mahindra Navistar Engines Private Limited Mahindra Automotive Australia Pty. Ltd. Mahindra Reva Electric Vehicles Private Limited Mahindra Overseas Investment Company (Mauritius) Limited Mahindra Europe s.r.l Mahindra Graphic Research Design s.r.l NBS International Limited Ssangyong Motor Company Limited Ssangyong European Parts Center B.V. Ssangyong Motor (Shanghai) Co. Ltd. Ssangyong (Yizheng) Auto Parts Manufacturing Co., Ltd. Division Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Automotive & Farm 3 Wheelers, UV's, Pick-ups UV's Cars HCV Manufacturing LCV and HCV Manufacturing Engines Manufacturing UV imports, sales and service Electric cars Vehicle import and distribution Design services

Components

Mahindra & Mahindra Limited Mahindra Forgings Limited Stokes Group Limited Stokes Forgings Dudley Limited Jensand Limited Stokes Forgings Limited Mahindra Forgings Global Limited Schneweiss & Co. GmbH Mahindra Forgings International Limited Mahindra Forgings Europe AG Gesenkschmiede Schneider GmbH JECO-Jellinghaus GmbH Falkenroth Umformtechnik GmbH Mahindra Castings Limited Mahindra Gears & Transmissions Private Limited Mahindra Gears International Limited Mahindra Gears Global Limited Mahindra Gears Cyprus Limited Metalcastello S.p.A. Crest Geartech Private Limited Mahindra Ugine Steel Company Limited Mahindra Engineering Services Limited Mahindra Engineering Services (Europe) Limited Mahindra Engineering GmbH Mahindra Technologies Services Inc Engines Engineering s.r.l Eff Engineering s.r.l. Mahindra Composites Limited Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Associate Systech Forging Products

Forging Products Forging Products

Castings Gears & Transmission Products

Alloy steels & Stampings Engineering Services

Engineering Services Composites

Sr. No.

Industry

Group Company

Nature of Relationship

Sector

Products / Services

Consulting Services

Mahindra & Mahindra Limited Mahindra Special Services Group Mahindra Consulting Engineers Limited Mahindra Business & Consulting Services Private Limited Mahindra Water Utilities Private Limited

Division Subsidiary Subsidiary of M&M Financial Services JV of Mahindra Infrastructure Developers

Mahindra Defense Corporate Security Consulting Mahindra Partners Multi-disciplinary Engineering Project Consulting Financial Services Captive Staffing and Allied Services Real Estate & Infrastructure

Water treatment and supply

Defense

Mahindra & Mahindra Limited Mahindra & Mahindra Limited - Defense Systems Mahindra Emirates Vehicle Armouring FZ-LLC Defence Land Systems India Private Limited

Division Subsidiary Subsidiary

Defense Systems Naval Systems Vehicle up-armouring Land Defence Systems

Energy

Mahindra & Mahindra Limited Mahindra & Mahindra Limited - Energy (Powerol) Division Mahindra Holdings Limited Mahindra EPC Services Private Limited Mahindra Solar One Private Limited

Division Subsidiary Associate

Automotive & Farm DG Sets, Inverters

Mahindra Partners Solar Power Producer

Farm Equipment

Mahindra & Mahindra Limited Mahindra & Mahindra Limited - Farm Equipment Division Mahindra USA Inc. Mahindra Gujarat Tractor Limited Mahindra Overseas Investment Company (Mauritius) Limited Mahindra (China) Tractor Company Limited Mahindra Yueda (Yancheng) Tractor Company Limited Mahindra EcoNova Private Limited Mahindra Holdings Limited Mahindra Punjab Tractors Private Limited Vayugrid Marketplace Services Private Limited

Division Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Associate

Automotive & Farm Tractors, Farm Equipment Tractors, Farm Equipment Tractors, Farm Equipment

Tractors, Farm Equipment Tractors, Farm Equipment

Tractors, Farm Equipment

10

Financial Services

Mahindra & Mahindra Limited Mahindra & Mahindra Financial Services Limited Mahindra Insurance Brokers Limited Mahindra Rural Housing Finance Limited

Subsidiary Subsidiary Subsidiary

Financial Services Financing Vehicles & Other Assets Insurance Broking Housing Finance

11

Industrial Equipment

Mahindra & Mahindra Limited Mahindra Engineering & Chemical Products Limited Mahindra Conveyor Systems Private Limited

Subsidiary Subsidiary

Mahindra Partners Bulk Handling Systems

12

Information Technology Mahindra & Mahindra Limited Bristlecone Limited Bristlecone Inc. Bristlecone UK Limited Bristlecone (Malaysia) SDN.BHD Bristlecone India Limited Bristlecone Singapore Pte. Limited Bristlecone GmbH Mahindra-BT Investment Company (Mauritius) Limited. Tech Mahindra Limited CanvasM Technologies Limited Satyam Computer Services Limited

Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Joint Venture Subsidiary of TechM

IT

ERP Implementation Solutions

Telecom Software and Services Mobile VAS Software Solutions and Services

13

Leisure & Hospitality

Mahindra & Mahindra Limited Mahindra Holidays and Resorts India Limited MHR Hotel Management GmbH Mahindra Holidays and Resorts USA Inc. Mahindra Hotels and Residences India Limited Heritage Bird (M) Sdn Bhd BAH Hotelanlagen AG

Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary

Hospitality

Timeshare Resorts

Sr. No.
14

Industry
Logistics

Group Company
Mahindra & Mahindra Limited Mahindra Logistics Limited

Nature of Relationship

Sector

Products / Services

Subsidiary

Mahindra Partners People & Freight Movement Services

15

Real Estate & Infrastructure

Mahindra & Mahindra Limited Mahindra Lifespace Developers Limited Mahindra Bebanco Developers Limited Mahindra Integrated Township Limited Mahindra Residential Developers Limited Watsonia Developers Limited Mahindra Infrastructure Developers Limited Mahindra World City Developers Limited Mahindra World City (Jaipur) Limited Mahindra World City (Maharashtra) Limited Knowledge Township Limited Raigad Industrial & Business Park Limited Mahindra Industrial Township (Maharashtra) Limited Anthurium Developers Limited Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Real Estate & Infrastructure Residential Properties & SEZ's Residential Properties

Development of SEZ's, Industrial Parks

16

Retail

Mahindra & Mahindra Limited Mahindra Engineering & Chemical Products Limited Retail Initiative Holdings Limited Mahindra Retail Private Limited Subsidiary Subsidiary Subsidiary Mahindra Partners Retailing Maternity and Baby-Care products

17

Steel Processing

Mahindra & Mahindra Limited Mahindra Intertrade Limited Mahindra Middle East Electrical Steel Service Centre Mahindra Steel Service Centre Limited Mahindra Electrical Steel Limited

Subsidiary Subsidiary Subsidiary Subsidiary

Mahindra Partners Steel processing

18

Two Wheelers

Mahindra & Mahindra Limited Mahindra Two Wheelers Limited

Subsidiary

Two Wheelers

Scooters and Bikes