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Stock Report
Popular Vehicles & Services Ltd receives LOI to establish NEXA workshop
Posted On : 2025-10-28 17:00:29( TIMEZONE : IST )
Popular Vehicles & Services Limited (NSE: PVSL, BSE: 544144), one of India's leading fully integrated automotive dealership player, is pleased to announce that it has received a Letter of Intent (LOI) to establish a NEXA workshop at an upcountry location in Perumbavoor, Ernakulam District, Kerala.
The NEXA workshop will be equipped with 2 dedicated service bays and 3 bodyshop bays, with an expected monthly load of approximately 500 vehicles (including ~400 service vehicles & ~100 bodyshop vehicles). The facility is designed to deliver a seamless, high-quality service experience and will operate in close synergy with the existing NEXA Studio in Perumbavoor. The total investment for setting up the workshop is estimated at approximately Rs 2 Crore.
Commenting on this development, Mr. Naveen Philip, Promoter and MD, Popular Vehicles and Services Limited said, "We are delighted to further expand our NEXA network with this upcoming workshop, underscoring our enduring partnership with Maruti Suzuki. This initiative aligns with our focus on continuously elevating our service standards and reinforcing our leadership in the Maruti service ecosystem.
The new NEXA workshop will bring world-class service facilities to our customers in Kerala, reflecting our deep focus on customer satisfaction. Expanding our service and bodyshop reach will also enhance our margins over time, as these are high-value business segments. This development is part of our broader strategy to increase the share of service revenues, improve profitability, and uphold our position as a leading Maruti service partner across the country."
Shares of Popular Vehicles and Services Limited was last trading in BSE at Rs. 144.90 as compared to the previous close of Rs. 144.35. The total number of shares traded during the day was 3964 in over 104 trades.
The stock hit an intraday high of Rs. 146.95 and intraday low of 142.50. The net turnover during the day was Rs. 570898.00.
