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If the support network of available parts is about equal, then this is a fair enough comparison. You did not state whether the tractors were similar enough in size and abilities to also be a fair comparison.
"reconditioned" is a VERY nebulous term. Basically, it is simply a used tractor that has been made pretty, to varying degrees and checked out mechanically, again, to very much varying degrees. Who did the re-conditioning? Was it done professionally? Is the re-conditioner outfit reputable? How thorough was the work? What price is now put upon this used, re-conditioned tractor?
With a new Mahindra, you would better know exactly what you paying for.