The products, branded Mahindra Odyssea, will initially be sold in the domestic market but future plans include exports.

The company says its initial focus will be on high quality, custom-designed 20-40 ft composite powerboats with varying fit-out levels to suit customer requirements. In the next phase, the portfolio would potentially expand to include cabin cruisers and catamarans. Mahindra says all products will meet international quality standards, carry the international CE certification and be competitively priced.

As well as individual and institutional corporate clients, Mahindra believes its vessels will be attractive to the paramilitary and defence forces. In time, it also expects to export products.

The US$6.7 billion Mahindra Group is among the top 10 industrial houses in India and a market leader in multi-utility vehicles.

“Mahindra’s entry into this segment marks the first ever foray of a major Indian industrial group into the leisure boating industry which has, till recently, been characterised by a small number of independent agencies offering imported versions from international manufacturers,” reports Zhooben Bhiwandiwala, Executive Vice President, Mahindra & Mahindra Ltd.