Mumbai, Aug 15 (PTI) Mahindra & Mahindra has submitted a letter of interest to the Maharashtra government to acquire 350 acres of land in Igatpuri, Maharashtra, according to a top company official.

The Mumbai-based automaker already has manufacturing plants in Nashik and Igatpuri.

"We have submitted a letter of interest for 350 acres of land in Igatpuri, which is part of our ecosystem," Mahindra & Mahindra (M&M) Executive Director and CEO for auto and farm sectors Rajesh Jejurikar told reporters here.

He stated that Nashik and Igatpuri plants could benefit from a feeder facility in the vicinity.

"The land parcel could be used for multiple things, including setting up a supplier park and anything that we may need more for either Nashik or the Igatpuri plant," Jejurikar added.

The company is at a preliminary stage and would have to go through the whole process of due diligence, and then land purchase needs a different level of approval, he noted.

"We still have to go through the process of meeting all approvals, internal and regulatory, before we actually make a decision...So, the whole process is not complete, but the expression of interest is accurate," Jejurikar said.

Mahindra & Mahindra CEO, Automotive Division, Nalinikanth Gollagunta said the company is looking to expand production capacity of its Chakan-based manufacturing by around 2.4 lakh units in the first phase this year.

The overall production capacity of the plant would go up to 7.5 to 7.6 lakh units per year after the expansion.

"We are also exploring setting up greenfield locations to put out the production capacity beyond 2027," Gollagunta stated.

Mahindra has plans to invest over Rs 27,000 crore in its automotive business between FY25 and FY27. PTI MSS BAL BAL BAL

Land acquisition interest: submission of a formal expression of intent for industrial land, subject to due diligence and approvals. The company submitted a formal expression of interest to acquire a significant land parcel in Igatpuri for multiuse purposes, including a supplier park and feeder facilities to support nearby plants, but the proposal remains preliminary pending due diligence and separate internal and regulatory approvals before any purchase or development proceeds.