Mahindra mulls media & entertainment foray


MUMBAI: After the entry of corporate companies like Anil Ambani’s Reliance ADAG Group, Anupam Mittal’s People Group and Ratul Puri’s Moser Baer into the filmed entertainment space, now another corporate giant Mahindra and Mahindra is eyeing a pie of the same.


 


Sources inform Businessofcinema.com that Mahindra and Mahindra is venturing into the film production and distribution business and is currently aggressively looking at roping into professionals for the same.



When contacted Mahindra and Mahindra executive vice president corporate strategy Andrey Purushottam says, “As the company’s head for corporate strategy I do look into newer areas for expansion and we are looking at the entire media and entertainment space.”


 


When probed further, Purushottam adds, “Currently we are looking at the entire space; whether we will enter is one issue and the area that we will enter into is another. But yes, we are definitely eyeing the media and entertainment space actively.”


 


Another source informs that for a few months now Mahindra and Mahindra has been inquiring about the commercial viability of venturing into this space.


 


However, it is not clear as to when an official announcement on this development is likely to be made.


 

The $4.5 billion Mahindra Group, headed by Anand Mahindra, is among the top 10 industrial houses in India with a presence in trade and financial services through companies such as Mahindra Intertrade, Mahindra & Mahindra Financial Services Ltd.; in automotive components, information technology and telecom through Tech Mahindra, Bristlecone and in infrastructure development through Mahindra GESCO, Mahindra Holidays & Resorts India Ltd., Mahindra World City. The company has its presence in five continents across the world.

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