PVSL Ventures into the Western Region with Ather: Launches Four 3S facilities in Maharashtra

Popular Vehicles & Services Limited (NSE: PVSL, BSE: 544144), one of India's leading fully integrated automotive dealership player is pleased to announce that its 100% step-down subsidiary Kuttukaran Cars Pvt. Ltd., has received a total of four Letters of Intent (LOIs) for setting up Ather 3S facilities in Maharashtra. This expansion signifies our entry into a new state with Ather. Maharashtra will be the third state in this growing network.

Two of the four planned facilities will be located in Nagpur, with the remaining two will be set up in Chandrapur and Chhatrapati Sambhaji Nagar (formerly Aurangabad), one in each city. Each facility will feature an Experience centre, a Service centre and a Warehouse. Operations are expected to commence in the second quarter.

Commenting on this development, Mr. Naveen Philip, Promoter and MD, Popular Vehicles and Services Limited said, "Building on the success of its operations in Kerala and Tamil Nadu with PVSL, Ather has further deepened our partnership through this expansion into Maharashtra with 4 LOIs. While we already have a presence in the state through Bharat Benz and, more recently, with JLR, this new chapter in our collaboration with Ather further strengthens our footprint and product offering in Maharashtra and reinforces our commitment to the 2-Wheeler EV segment.

This strategic expansion not only extends Ather's reach but also supports our wider goal of broadening our revenue base and strengthening our presence in emerging markets. By focusing on superior service and an enhanced customer experience, we are dedicated to fostering long-term, sustainable growth and creating meaningful value in this fast-growing market."

Shares of Popular Vehicles and Services Limited was last trading in BSE at Rs. 103.19 as compared to the previous close of Rs. 100.06. The total number of shares traded during the day was 11397 in over 386 trades.

The stock hit an intraday high of Rs. 103.70 and intraday low of 99.10. The net turnover during the day was Rs. 1163511.00.

Source : Equity Bulls

Keywords

PopularVehiclesandServices INE772T01024 AutoDealer LOI Ather 3SFacilities Maharashtra