Business EconomyPosted at: Oct 26 2026 5:17PM


Mahindra & Mahindra gets possession of 800 acres for Butibori project

Nagpur, Oct 26 (UNI) The Maharashtra Industrial Development Corporation (MIDC) today handed over possession of 800 acres of land to Mahindra & Mahindra Ltd for its proposed project in the Additional Butibori Industrial Area, within six months of the signing of a Memorandum of Understanding (MoU) at Advantage Vidarbha 2026.
The Association for Industrial Development (AID) played a significant role in facilitating the process, according to a press release.
The land was handed over by MIDC Regional Officer Manohar Pote and Chief Engineer Rajesh Zanjal. The company was represented by Dr Vinay Khanolkar, Chief Operating Officer of its Auto Division, Nitin Vaidya, Plant Head of the Nagpur Greenfield Project, and Ashish Soadte. AID CEO Dr Kapil Chandrayaan was also present.
The company is expected to invest over Rs 15,000 crore in the project and generate more than 20,000 direct jobs.
Of the total 1,500 acres proposed to be allotted to the company, possession of 800 acres has been handed over, while the remaining 700 acres will be transferred shortly.
The project is expected to have an annual production capacity of over seven lakh commercial vehicles.
The company has deposited more than Rs 706 crore with MIDC for the first phase involving 800 acres.
Dr Chandrayaan said the completion of the land transfer within six months of the MoU signing at Advantage Vidarbha 2026 was a significant achievement in AID's efforts to create a favourable industrial environment in the Vidarbha region.
UNI PK SS
Tags: #Mahindra & Mahindra gets possession of 800 acres for Butibori project
More News

26 Oct 2026 | 6:32 PM

New Delhi, Oct 26 (UNI) India’s high-net-worth individuals (HNIs) are opting for larger life insurance covers, with bookings for HNI term insurance policies doubling since April 2023 and the average sum assured increasing by 30 per cent, according to data released by Policybazaar.

see more..

Digilogic Systems H1 net profit surges 151 pc to Rs 4 76-Cr

26 Oct 2026 | 6:29 PM

Hyderabad, Oct 26 (UNI) Digilogic Systems Limited, a provider of test, measurement and simulation solutions for the defence and aerospace sectors, has reported a 150.53 per cent year-on-year increase in net profit to Rs 4.76 crore for the first half of FY27, against Rs 1.90 crore in the corresponding period last fiscal.

see more..

Stock markets snap four-day losing streak, Nifty reclaims 22,700

26 Oct 2026 | 5:42 PM

New Delhi, Oct 26 (UNI) Indian stock markets on Monday ended higher, snapping a four-day losing streak. Nifty closed above 22,700 led by Pharma, Metal, Oil & Gas stocks. The market began the week on a negative note but staged a sharp recovery in early trade.

see more..

Tata Communications to invest up to $450 million in 10,000-km AI fibre network

26 Oct 2026 | 5:37 PM

New Delhi, Oct 26 (UNI) Tata Communications plans to invest $400 million to $450 million over the next three to five years to develop a 10,000-km fibre-optic network across India, aimed at connecting major data centres and artificial intelligence (AI) hubs as demand for high-speed digital infrastructure grows.

see more..

Singareni employees urged to report irregularities, uphold integrity

26 Oct 2026 | 5:32 PM

Hyderabad, Oct 26 (UNI) Singareni Collieries Company Limited (SCCL) Director (Projects and Planning) K. Venkateswarlu on Monday urged employees to report irregularities and work with the Vigilance Department to curb corruption and promote transparency in the organisation.

see more..