Mahindra advertises extra weight quite a bit. Simply being heavy is not necessarily a sign of quality. It could be that the molten mystery metal used is so cheap that filling larger castings adds little extra cost. Little finish work is done to these castings, again, adding weight, and saving money. This method provides the tractor manufacturer a great pitch of "more weight". For us, we assume more weight must mean more metal, and more metal must mean higher quality.
At the same time, being lighter isn't a sign of cheapness. If a tractor is well engineered and utilizes stronger metals, its weight can be reduced, while retaining its durability. I would say that Kubota is a perfect example of this. Arguably one of the most durable and well engineered tractors in the market, yet their weight is down. Ballast can be easily added, only so much can be taken away, and being too heavy may be an issue for certain tasks. Having the ability to lighten up some, is an advantage.
In my opinion, looking at these two tractors all by themselves, the Kioti is the better machine, by a considerable margin. But your dealer location/price/resources could flip this to make the Mahindra the better choice for you.
By no means do I feel Mahindra makes a bad tractor. But from my experience with both machines, the Kioti is a bit more thought out and refined.