Mahindra & Mahindra, India's biggest utility vehicle maker, will spend Rs 5,000 crore on capital expenditure over the next three years starting 2012-13, a company executive said on Thursday.
Mahindra plans to spend an additional Rs 2,500 crore on investments including acquisitions over the next three years, said Pawan Goenka, head of the company's automotive and farm equipment divisions.
The company is in talks with subsidiary Ssangyong's Russian distributor to sell Mahindra vehicles in Russia, Goenka said.
Mahindra, the flagship company of the $14.4 billion Mahindra Group conglomerate, reported a forecast-beating 44% jump in quarterly profit this week, on strong volume growth in the face of rising input costs.
