Tech Mahindra has announced the incorporation of its wholly-owned subsidiary, Tech Mahindra Regional Headquarters, in Saudi Arabia. The new entity will provide strategic direction and oversight for the company’s operations in Bahrain and Egypt, strengthening its footprint in the Middle East.
The move follows Tech Mahindra’s recent disclosure that Pininfarina S.p.A., its Italian step-down subsidiary, raised its stake in stationery firm Signature S.r.l. from 24% to 84%, making Signature a subsidiary of Pininfarina and, in turn, of Tech Mahindra. The acquisition, conducted on an arm’s length basis, did not require regulatory approvals and will help boost Pininfarina’s consumer presence and brand value.
Pininfarina, headquartered in Italy, is globally recognized for its design and engineering expertise across automotive, industrial, architectural, and luxury sectors.
On the financial front, Tech Mahindra reported a strong Q1 performance with net profit rising 34% year-on-year to ₹1,141 crore. Revenue grew 2.7% YoY to ₹13,351.2 crore, while deal wins surged 51% to $809 million. The company ended the quarter with a headcount of 1,48,517 employees, up by 897, and an attrition rate of 12.6%. Cash and equivalents stood at ₹8,072 crore.
Despite these gains, Tech Mahindra’s stock has fallen 10% in 2025, compared to a 5% rise in the benchmark Nifty 50 index.
