The $6.3 billion Mahindra group has decided to firm up its presence in the

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international market in 2010. Anand Mahindra, group’s vice-chairman and managing director, has directed the top brass of group companies to work with caution, but be more aggressive in making their presence felt in the global arena.

“While the global economic turmoil is almost over, there are clear signs of recovery. The group company officials have been told to firm up their foot in the global arena,” said a senior official, among the 400-450 senior executives who attended the Bluechip conference in Hyderabad.

Every year, senior personnel of the level of general managers and above, from all group companies from all geographies, join for deliberations. This year’s conference was held in Hyderabad early this week, between February 22 and 23.

“The broad theme outlined was how to achieve discontinuous growth during times of discontinuity and unpredictability,” Mahindra told Financial Chronicle in an emailed response.

The emphasis on discontinuous growth stems from the sudden fall in demand the group faced in the auto, auto components industry and a subsequent sharp rebound in recent quarters. As a result, the group needed to be prepared so as to quickly ramp up to capitalize on a boom and ramp down to ensure it survives the bust years. Mahindra also appreciated efforts put in by the group companies, parent Mahindra and Mahindra (M&M) including the automotive and farm equipment divisions, Tech Mahindra, Mahindra Holidays and Resorts India (MHRIL), Mahindra Forgings and M&M Financial Services among others, which exceeded the targets set for 2009-10.

“In spite of global economic slowdown, the group has performed well since the fourth quarter of 2008-09. In fact, all the companies exceeded their targets set by the finance department for this financial year,” the senior M&M official added. Based on first nine months’ performance of the group during the present financial year, the profit target for 2010-11 has been revised upwards, the official added.

The M&M automotive sector has been asked to chalk out an aggressive plan for the forthcoming launch of utility vehicles in the US. The farm equipment sector, which is much ahead of the target set for the whole of 2009-10, has been asked to push sales of Mahindra compact 15-horse power Yuvraj tractors across the country.

The gross revenues and other income for M&M group on consolidated basis grew by 28.4 per cent to Rs 8,156.8 crore ($1.7 billion) in the three months ending December 2009. The consolidated net profit was Rs 473.7 crore ($97.9 million) as against Rs 39.1 crore ($8.1 million) earned in Q3 2008 – a growth of 1112 per cent. During the quarter ended December 31, 2009, the revenue contribution of automotive sector and farm equipment sector, which are major money-spinner for the group, grew to 62.1 per cent of total from 52.9 per cent in same period previous year.