Stock Report

Popular Vehicles & Services Ltd to open new True Value Outlet in Bangalore

Posted On : 2025-06-10 17:18:15( TIMEZONE : IST )

Popular Vehicles & Services Limited (NSE: PVSL, BSE: 544144), one of India's leading fully integrated automotive dealership players, is pleased to announce that it has received a Letter Of Intent from Maruti Suzuki India Limited to establish a new independent True Value outlet for preowned vehicles in Bangalore, Karnataka.

The upcoming outlet will be located at Property No. 20/4, Bilekahalli Village, Begur Hobli, Bannerghatta Road, a prominent and well-connected area in Bangalore. This development represents a strategic move to expand our presence in Karnataka and also meet the growing demand for reliable, value-for-money mobility solutions in urban markets.

Spanning approximately 6,000 sq. ft., the new facility will have the capacity of covered display of up to 15 vehicles on-site. The facility is expected to be ready and start operations by the end of August 2025.

Commenting on this development, Mr. Naveen Philip, Promoter and MD, Popular Vehicles and Services Limited said, "We are excited to expand our relationship with Maruti Suzuki through the upcoming launch of a True Value outlet in Bangalore. This development complements our existing 3S Arena facility in the city and reflects our strong belief in the growth potential of Bangalore's pre-owned car market.

As one of India's most vibrant automotive hubs, Bangalore presents a significant opportunity in the certified used car space. This outlet will serve as a key destination for quality-assured preowned vehicles and further reinforces our broader strategy of expanding across both new and used vehicle segments. We remain committed to delivering a superior ownership experience built on trust, transparency, and service excellence."

Shares of Popular Vehicles and Services Limited was last trading in BSE at Rs. 126.40 as compared to the previous close of Rs. 121.50. The total number of shares traded during the day was 4924 in over 207 trades.

The stock hit an intraday high of Rs. 128.85 and intraday low of 122.00. The net turnover during the day was Rs. 622284.00.