(Corrects figure in headline to $82 mln, from $33 mln)
MUMBAI, Aug 14 (Reuters) - Mahindra & Mahindra Ltd , India’s biggest utility vehicle manufacturer, plans to invest 2 billion rupees ($32.74 million) to strengthen its current product line-up of trucks and buses, the company said in a statement on Wednesday.
Mahindra plans to invest another 3 billion rupees to explore new products, it said.
On Tuesday, the company posted a forecast-beating 29 percent rise in first-quarter profit, as strong demand for its tractors compensated for falling sales of its sport utility vehicles. ($1 = 61.0850 Indian rupees) (Reporting by Aradhana Aravindan; Editing by Sunil Nair)