Deepening Their Tie: Landmark Cars and Stellantis extend their bespoke Citroën arrangement to Delhi

Landmark Lifestyle Cars Private Limited, a wholly owned subsidiary of Landmark Cars Limited (BSE: 543714 | NSE: LANDMARK), a leading premium automotive retail network in India, has received a letter of intent from Stellantis Automobiles India Private Limited for the sale and after sale business of the Citroën car brand in Delhi, leveraging their existing Jeep showroom at Mathura Road and workshop in Okhla. The arrangement, consistent with the previously executed bespoke agreement with the OEM for Mumbai territory, reflects Landmark's disciplined strategy of optimizing infrastructure to deliver higher efficiency and growth and deepening brand / regional presence.

Further, as part of their consolidation strategy, Landmark will discontinue operations at their Jeep showroom in Moti Nagar, Delhi. Given that the location has been in operation for several years and is substantially depreciated, this move will have marginal financial impact. The step is aligned with Landmark's long-term goal to rationalise costs and streamline operations to reinforce its profitable growth journey.

Shares of Landmark Cars Limited was last trading in BSE at Rs. 610.70 as compared to the previous close of Rs. 612.15. The total number of shares traded during the day was 4758 in over 367 trades.

The stock hit an intraday high of Rs. 618.80 and intraday low of 604.95. The net turnover during the day was Rs. 2902843.00.

Source : Equity Bulls

Keywords

LandmarkCars INE559R01029 AutoDealer LandmarkLifestyleCars LoI StellantisAutomobiles Citroen Delhi