Popular Vehicles expand into a new state in partnership with Maruti Suzuki

Popular Vehicles & Services Limited (NSE: PVSL, BSE: 544144), one of India's leading fully integrated automotive dealership players, is delighted to announce the opening of a state-of-theart 3S facility (Showroom, Service, and Spare Parts) for Maruti Suzuki in Bangalore, Karnataka. This marks our entry into the Karnataka market.

Bangalore is a key market for both new and pre-owned cars, driven by its strong economy and increasing demand for passenger vehicles. Our collaboration with Maruti Suzuki further expands our footprint in Southern India beyond Kerala and Tamil Nadu, reinforcing our long-term partnership.

Strategically located in Avalahalli, Bangalore, this integrated facility brings together a showroom, workshop, and pre-owned car business under one roof. Spanning 5,000 sq. ft. for the showroom area and 10,000 sq. ft. for the service area with 20 bays, the facility represents a total investment of approximately ₹9 crores.

Commenting on this development, Mr. Naveen Philip, Promoter and MD, Popular Vehicles and Services Limited said, "We are excited to announce our expansion into Karnataka with Maruti Suzuki, marking a significant milestone in our growth journey. While we have had a presence in Karnataka for over 15 years through our luxury brand JLR, this venture marks a new chapter in our association with Maruti Suzuki.

To begin with, we are launching a state-of-the-art 3S facility for Maruti Suzuki's Arena dealership, anticipating strong demand for first-time car ownership, starting this fiscal year. Our expansion with Maruti Suzuki into the Karnataka market marks our second state beyond Kerala, following Tamil Nadu, as part of our broader growth strategy, with many more to come.

Expanding beyond Kerala is a strategic move aligned with our long-term vision of diversifying revenue streams while strengthening our OEM partnerships. This expansion underscores our confidence in Bangalore's growth potential and our commitment to delivering high-quality automotive solutions".

Shares of Popular Vehicles and Services Limited was last trading in BSE at Rs. 99.68 as compared to the previous close of Rs. 100.29. The total number of shares traded during the day was 5520 in over 182 trades.

The stock hit an intraday high of Rs. 104.49 and intraday low of 97.00. The net turnover during the day was Rs. 549141.00.

Source : Equity Bulls

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