Section 35
Hinduja Group
Started as: Trade and merchant banking
- founded
- 1914
- founder
- Parmanand Deepchand Hinduja
- headquarters
- London, with a registered office in Mumbai
- 44,007
- Ashok Leyland revenue, FY26 (₹ crore) · 2026
- 2,20,437
- Ashok Leyland commercial vehicles sold, FY26 (units) · 2026
The story
Parmanand Deepchand Hinduja moved from Shikarpur in Sindh to Bombay in 1914, aged 14, and began trading. In 1919 he opened an office in Iran, the group's first outside India.
The group stayed headquartered in Iran until 1979 and then moved to Europe. From trade and finance it bought into industry: Gulf Oil's international business and India's Ashok Leyland in the 1980s, and it started IndusInd Bank in 1994.
Today the group lists ten areas of business, from vehicles and lubricants to banking, media and healthcare. Its flagship Indian manufacturer, Ashok Leyland, reported record revenue of ₹44,007 crore in FY26.
Where it works today
Commercial vehiclesLubricants and speciality chemicalsBanking and financeDigital technology servicesEnergyMediaReal estateHealthcareTrading
Main companies
Ashok Leyland · IndusInd Bank · Gulf Oil · Hinduja Global Solutions · NXTDIGITAL · Hinduja Leyland Finance
Timeline
- 1914P.D. Hinduja moves from Shikarpur in Sindh to Bombay and starts a trading business.
- 1919Opens the group's first office outside India, in Iran.
- 1979Moves its headquarters from Iran to Europe.
- 1984Acquires Gulf Oil's international business.
- 1987Takes control of truck and bus maker Ashok Leyland.
- 1994IndusInd Bank begins operations.
- 2026Ashok Leyland reports record commercial vehicle sales of 2,20,437 units for FY26.