Yes, Swaraj Tractor is a division of Mahindra & Mahindra Ltd. Swaraj tractors were previously known as Punjab Tractors Limited. Later, the company was acquired by the Mahindra Group in 2007, and then in 2009, the name was changed to the Swaraj division. Punjab Tractors was the only Indian company at that time that manufactured agricultural tractors in India. The company's main objective was to serve the farming community by manufacturing reliable and efficient tractors.

Firstly, the project was originally designed at in Central Mechanical Engineering Research Institute (CMERI), Durgapur (West Bengal) in the 1960s, which then took the form of an organisation in Mohali (Punjab). After following disinvestment by the state government, Mahindra & Mahindra acquired Punjab Tractors and made them Swaraj Tractors. The product portfolio includes various tractors ranging from below 15 HP to over 66-70 HP.