Steered Mahindra group for half-century, took it to stupendous heights

Sandeep Dikshit

New Delhi, April 12

The country’s oldest billionaire Keshub Mahindra, whose surname is synonymous with SUVs in India, passed away peacefully in his sleep in Mumbai on Wednesday. He was 99.

Keshub stepped down as chairman of Mahindra & Mahindra (M&M) in 2012 after leading the group for nearly half a century that saw its significant expansion —- from a steel trading company to becoming the pioneer of the Indian auto industry with its best-selling SUV range of Scorpio, Bolero, Thar and XUV700.

This hugely successful range that put its foreign peers in the shade began with Keshub focusing on utility-oriented vehicles early in his tenure with the Willys Jeep being the first iconic SUV from the M&M stable.

The former M&M chairman’s counsel was also sought by other industrialists. Interestingly, Keshub regained his billionaire status this year. The latest Forbes list included him among India’s 16 new billionaires with properties worth $1.2 billion (about Rs 10,000 crore). Born in Shimla in 1923, Keshub’s trajectory was similar to that of many industrialists who rose to money and fame in the post-Independence period. After being sent to University of Pennsylvania, he joined M&M in 1947 and became its chairman at the age of 40. His nephew Anand Mahindra, who took over the M&M chairmanship in 2012, said he was known for his “astute business acumen that helped in transforming Mahindra into a diversified federation of companies”.

Keshub Mahindra, India’s oldest billionaire, passes away at 99

• Born in Shimla in 1923, Keshub focused on utility-oriented vehicles early in his tenure with Willys Jeep being the first iconic SUV from M&M stable
• Under him, M&M rose from a steel trading company to being an auto giant with a wide SUV range with best-sellers Scorpio, Bolero, Thar, XUV700