What Hinduja Group does

Hinduja Group is a privately held, India-domiciled global conglomerate founded in 1914 by Parmanand Deepchand Hinduja, currently controlled by the Hinduja family (led by brothers Sanjay and Dheeraj Hinduja following Gopichand Hinduja's death in November 2025) and operating across 38 countries with a stated workforce of 250,000+ employees. The group runs eleven investment verticals spanning mobility (Ashok Leyland, Switch Mobility, OHM Global Mobility, Hinduja Tech), lubricants and specialty chemicals (Gulf Oil International, Gulf Oil Lubricants India, minority stake in NYSE-listed Quaker Houghton), banking and finance (IndusInd Bank, Hinduja Leyland Finance, Hinduja Bank Switzerland), digital technology and BPM (Hinduja Global Solutions, NXTDIGITAL, ONEOTT iNTERTAINMENT), energy (Hinduja Renewables Energy at 3 GWp, Hinduja National Power Corporation's 1,040 MW Vizag coal plant), real estate, healthcare (P. D. Hinduja Hospital, Mumbai), media, trading, and project development.

Core technology includes proprietary SWITCH iON connected vehicle platform with telematics and fleet management, LFP battery chemistry for Switch Mobility electric buses, and CCS-2 DC fast-charging capability. The conglomerate serves diversified customer segments: commercial fleet operators and government transport corporations for Ashok Leyland and Switch Mobility, 41 million+ retail and corporate banking customers via IndusInd Bank, 350+ distributors and 50,000+ retail counters through Gulf Oil Lubricants India, Fortune 500 enterprises via HGS-managed BPM contracts, and state electricity boards under long-term renewable PPAs through Hinduja Renewables.

The business model is hybrid across verticals - hardware sales for commercial vehicles and lubricants, managed services and recurring contracts for BPM, interest and fee income for banking and NBFC operations, transaction-fee renewable energy sales under 25-year PPAs, and channel-partner-led distribution through franchisee networks for digital services. Go-to-market combines direct enterprise sales (Ashok Leyland fleet deals, government-to-government Mauritius bus order), relationship banking, and extensive multi-tier distribution. Pricing is largely project-based in mobility and government tenders, while consumer-facing pricing for tourism buses and small electric vehicles runs on unit pricing (₹15 lakh for compact e-buses; ₹500 + GST for double-decker tourist tickets).

Name

Hinduja Group

Legal name

Hinduja Group Ltd.

Website

http://www.hindujagroup.com/

Company type

Private

Founded year

1914

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Hinduja Group is a privately held, family-controlled global conglomerate founded in 1914, operating across 38 countries with 250,000+ employees through eleven verticals including commercial vehicles (Ashok Leyland, Switch Mobility), banking (IndusInd Bank), lubricants (Gulf Oil, Quaker Houghton), digital/BPM (HGS), renewable energy, real estate, and healthcare serving government, enterprise, and retail customers.

Ownership category

akta.pro rank

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Commercial Vehicle Manufacturing: Ashok Leyland generates revenue through manufacture and sale of commercial vehicles including trucks, buses, and light commercial vehicles. Revenue is primarily one-time sale of vehicles to fleet operators, dealers, and government entities. FY26 revenue reported at ₹44,007 crore with Q4 net profit of ₹1,405 crore.
2. Banking and Financial Services: IndusInd Bank generates revenue through interest income on loans, fee-based income from services, and trading/investment activities. IndusInd Bank serves 41 million+ customers across India with diversified banking products.
3. Renewable Energy Generation: Hinduja Renewables operates 3 GWp across 47 solar and wind power plants, generating electricity for sale to state electricity boards, industrial consumers, and through open access mechanisms.
4. Business Process Management: Hinduja Global Solutions provides BPM and contact center services to enterprise clients globally, generating recurring revenue through managed services contracts with Fortune 500 companies.
5. Lubricants and Specialty Chemicals: Gulf Oil Lubricants India sells automotive and industrial lubricants through extensive distribution network of 50,000+ retail counters and 350 distributors across India.
6. NBFC Lending: Hinduja Leyland Finance provides vehicle financing and SME loans with Assets Under Management of ₹62,000 crore, generating interest income and processing fees.

Pricing tiers

Go-to-market motion4 records

Distribution channels5 records

Marketing channels8 records

Core offering

Hinduja Group is a privately held global diversified conglomerate founded in 1914, operating across 38 countries with investments in commercial vehicles (Ashok Leyland, Switch Mobility), lubricants and specialty chemicals (Gulf Oil, Quaker Houghton), banking and finance (IndusInd Bank, Hinduja Leyland Finance, Hinduja Bank Switzerland), digital technology and BPM (Hinduja Global Solutions, Hinduja Tech), energy (Hinduja Renewables, Hinduja National Power Corporation), media and entertainment (NXTDIGITAL, ONEOTT), real estate (Hinduja Realty Ventures, GOCL), healthcare (P.D. Hinduja Hospital), trading, and project development.

Product overview

Hinduja Group is one of the largest diversified conglomerates globally with direct presence in 38 countries and activities spanning 100 countries. The Group operates through 11 investment verticals and holds flagship positions through leading companies. The core portfolio includes: Ashok Leyland (commercial vehicles, buses, trucks) and Switch Mobility/OHM Global Mobility (electric mobility solutions) in the Mobility vertical; Gulf Oil International, Gulf Oil Lubricants India, and Quaker Houghton (lubricants and specialty chemicals) in the Lubricants vertical; IndusInd Bank, Hinduja Leyland Finance, and Hinduja Bank Switzerland in Banking and Finance; Hinduja Global Solutions and Hinduja Tech in Digital Technology and Enabled Services; Hinduja Renewables Energy and Hinduja National Power Corporation in Energy; NXTDIGITAL and ONEOTT in Media and Entertainment; Hinduja Realty Ventures and GOCL in Real Estate; P.D. Hinduja Hospital in Healthcare; British Metal Corporation in Trading; and Hinduja Investments and Project Services in Project Development. The Group also operates philanthropy through Hinduja Foundation and education through K.P.B. Hinduja College of Commerce.

Differentiator

Problem solved

Functional benefit

Brands

• Gulf Oil: Lubricants and specialty fluids brand operating in over 60 countries globally
• NXTDIGITAL
• Switch Mobility
• OHM Global Mobility
• Hinduja Foundation
• P. D. Hinduja Hospital
• Hinduja Leyland Finance

Products and services

• Ashok Leyland India's 2nd largest commercial vehicle manufacturer, 3rd largest bus manufacturer globally, and 10th largest truck manufacturer globally; manufactures trucks, buses, and light commercial vehicles for fleet operators, logistics companies, and government transport corporations. FY26 revenue of Rs 44,007 crore.
• Switch Mobility Electric Buses Electric bus manufacturer designing, manufacturing and selling advanced single deck and double deck buses for global markets including UK, Continental Europe, North America, and India. Features SWITCH iON connected vehicle platform and LFP battery technology.
• Gulf Oil Lubricants Leading brand in downstream oil industry operating in over 60 countries with world-class blending and manufacturing facilities in India, Brazil, Argentina, UAE, Singapore, and Philippines. Offers automotive and industrial lubricants and specialty fluids.
• IndusInd Bank New-generation private bank in India serving 41 million+ customers through over 7,090 outlets including 3,040 branches; provides retail and corporate banking, loans, digital banking, and relationship banking services.
• Hinduja Leyland Finance Leading vehicle finance NBFC in India focused on urban and semi-urban markets. Provides retail finance for commercial and personal vehicles including MHCVs, LCVs, SCVs, cars, SUVs, three wheelers, and two wheelers. Assets Under Management of Rs 62,000 crore.
• Hinduja Bank Switzerland Swiss banking institution offering wealth management, private banking, trade finance, corporate advisory services, and global investment solutions. Offices in Geneva, Dubai, London, Paris, New York, Chennai, Mumbai, Mauritius, and Cayman Islands.
• Hinduja Global Solutions (HGS) Global leader in optimizing customer experience lifecycle, digital transformation, business process management, and digital media ecosystem. Offers automation, analytics, and AI-powered digital customer experiences for Fortune 500 enterprise clients.
• Hinduja Tech Integrated Product Engineering and Digital Solutions Provider for the mobility industry. Offers full vehicle and powertrain development from concept through SOP for ICE vehicles and EVs, SAP/ERP services, and enterprise mobility services with 60+ clients including 7 of top 10 Global Auto OEMs.
• Hinduja Renewables Energy Independent power producer with over 3 GWp diversified renewable energy portfolio across 47 solar and wind power plants in Tamil Nadu, Maharashtra, Rajasthan, Delhi NCR, Gujarat, Uttarakhand, and Karnataka. Generates electricity for sale to state electricity boards, industrial consumers, and through open access mechanisms.
• Hinduja National Power Corporation (HNPCL) 1,040 MW coal-based merchant power plant at Vizag (Visakhapatnam) in Andhra Pradesh catering to growing power needs of southern India.
• NXTDIGITAL Digital media delivery platforms division of Hinduja Group; India's premier integrated digital delivery platforms group connecting 5 million customers in over 4,500 pin codes. Delivers television services via digital cable and HITS satellite platform, with 10,000+ franchisee network.
• ONEOTT iNTERTAINMENT (OIL) One of India's top private Internet Service Providers with over one million retail customers in 750+ cities and towns. Provides converged services of Video, Data, and Voice delivering high-speed internet up to 1,000 Mbps.
• P. D. Hinduja Hospital & Medical Research Centre 400-bed ultramodern tertiary care hospital in Mumbai with world-class healthcare treatments. Pioneered concept of full-time hospital-based consultants with 53 critical care beds in more than 45 specialties, 19 day care units, 170 consultants, and 800+ nurses.
• Hinduja Realty Ventures (HRVL) Flagship real estate development arm with land bank in excess of 2,500 acres across major cities in India. Development rights for approximately 30 million sq. ft. FDI compliant development including commercial offices, integrated townships, group housing, and residential complexes.
• Quaker Houghton Global leader in metalworking fluids, NYSE-listed entity. Products sold in over 100 countries with manufacturing and R&D facilities at 50+ countries. Range of over 500 products covering automotive, marine, and industrial segments.
• British Metal Corporation (India) Trading company specializing in non-ferrous, ferrous, minor metals, precious metals, ferro alloys, and refractory products.
• OHM Global Mobility Electric mobility services unit focused on providing sustainable eMobility solutions for commercial mobility and zero-carbon future.

Quantifiable outcome

• Ashok Leyland maintains #2 market share in Indian commercial vehicle market with 10th largest global truck manufacturing position
• +2 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles8 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered core, minor and major.

• CALB GroupcoreStrategic or Co-development Partner · 1 January 2024Memorandum of Understanding signed for battery development and manufacturing collaboration for electric vehicles. CALB Group is a leading Chinese battery manufacturer specializing in lithium-ion batteries for automotive applications. The partnership aims to develop advanced battery solutions for Switch Mobility electric buses.
• Tata RealtyminorOthers · 1 January 2024Land sale agreement for 38-acre property in Bengaluru. Hinduja Group divested land asset to Tata Realty as part of portfolio optimization strategy. Transaction value not publicly disclosed.
• One OTT Entertainment LtdminorStrategic or Co-development Partner · 1 January 2024Project GANGA partnership for content and entertainment services. Collaboration with One OTT Entertainment Ltd for digital entertainment offerings in line with Hinduja's digital services expansion strategy.
• Government of MauritiusmajorChannel Partner/ Reseller/ Distributor · 1 January 2023Supply of 100 electric buses to Government of Mauritius under the Operation and Maintenance of a National Transport Network Service (OMTNS) project. Partnership represents major export order for Switch Mobility electric buses and includes long-term service and maintenance commitments.
• State Electricity Boards (Tamil Nadu, Maharashtra, Rajasthan)coreChannel Partner/ Reseller/ Distributor · 1 January 2023Power purchase agreements with state electricity boards for renewable energy supply from Hinduja Renewables solar and wind projects. Long-term PPAs typically spanning 25 years provide stable revenue visibility.
• Apollo Defence IndustriesminorOthers · 1 January 2022Sale of IDL Explosives Ltd to Apollo Defence Industries. IDL Explosives was a subsidiary engaged in manufacturing of commercial explosives. Divestment reflects Hinduja Group's focus on core business verticals.
• Continental AGcoreStrategic or Co-development Partner · 1 January 2015Joint venture for automotive infotronics establishing a manufacturing facility in India. The JV focuses on instrument clusters, infotainment systems, and connected vehicle solutions for automotive OEMs in India and export markets.
• Alteams GroupcoreStrategic or Co-development Partner · 1 January 2007Joint venture for manufacturing high-pressure die-casting components for automotive and industrial applications. The partnership leverages Alteams' die-casting expertise with Hinduja Group's manufacturing capabilities and market access.

Scale indicators13 records

Recent moves12 records

Expansion highlights6 records

Direct peers

• Tata Group: India's largest diversified conglomerate spanning mobility (Tata Motors), steel, IT (TCS), consumer goods, and financial services. Closest comparable to Hinduja Group given its multi-vertical Indian conglomerate structure with family-controlled holding and a flagship automotive subsidiary.
• Mahindra Group: Indian conglomerate with major operations in commercial vehicles and farm equipment (Mahindra & Mahindra), financial services (Mahindra Finance), IT (Tech Mahindra), and hospitality. Highly comparable to Hinduja's mobility-finance-services axis.
• Adani Group: Indian conglomerate with significant renewables (Adani Green), power generation, ports, and infrastructure footprint. Comparable to Hinduja's energy/renewables and infrastructure-investment verticals and similarly family-controlled.
• Aditya Birla Group: Indian multinational with diversified interests in metals, cement, fashion, financial services (Aditya Birla Capital), and renewables. Comparable conglomerate breadth and family-controlled capital allocation model.
• Godrej Group: Indian conglomerate spanning consumer goods, real estate, agri-inputs, and financial services. Comparable family-controlled multi-vertical model with Indian and global presence.
• Tata Motors: India's largest commercial vehicle manufacturer and owner of Jaguar Land Rover. Direct competitor to Ashok Leyland in trucks and buses; Switch Mobility competes with Tata Motors' EV commercial vehicle business.
• Ashok Leyland (direct subsidiary view): Hinduja Group's own commercial vehicle flagship, listed for context as the closest direct comp for any external investor evaluating Hinduja's mobility exposure against peer CV manufacturers.
• RPG Group: Indian conglomerate with operations in tires (CEAT), power, retail, and infrastructure. Comparable in scale, vertical diversification, and family-controlled Indian conglomerate structure.

Broad incumbents

• Reliance Industries: India's largest listed company with businesses spanning energy (oil & gas, refining), digital services (Jio), and retail. Overlaps with Hinduja in energy and digital services but is dominated by petrochemicals rather than the mobility-banking balance.
• ICICI Bank: One of India's largest private banks. Comparable to IndusInd Bank within Hinduja's portfolio as a benchmark for valuation and growth trajectory of the financial services vertical.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/hindujagroup
• YouTubeyoutube.com/channel/UCXRTtkOuVzHUopF_JRP0mBw
• Facebookfacebook.com/hindujagroup
• LinkedInlinkedin.com/company/hinduja-group
• Instagraminstagram.com/hindujagroup?utm_medium=copy_link

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries20 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments8 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Hinduja Group