Popular Vehicles expand into a new state in partnership with BharatBenz

Popular Vehicles & Services Limited (NSE: PVSL, BSE: 544144), one of India's leading fully integrated automotive dealership players, is pleased to announce that its 100% step down subsidiary, Prabal Motors Pvt. Ltd., has received a Letter of Intent (LOI) to establish eight stateof-the-art 3S facilities (Sales, Service and Spare Parts) for BharatBenz in the state of Punjab.

This development marks our entry into the Punjab market, where we will operate as the exclusive BharatBenz dealer across the entire state. It represents a significant step in expanding our footprint in Northern India, building on our strong foothold in Maharashtra and Tamil Nadu, & further strengthening our partnership with the BharatBenz brand.

Strategically spread across eight locations, these integrated facilities house a showroom, bodyshop, spare parts distribution & pre-owned car operations under one roof. With a total of 32 service bays, the facilities represent a cumulative investment of approximately ₹13 crores.

Commenting on this development, Mr. Naveen Philip, Promoter and MD, Popular Vehicles and Services Limited said, "We are delighted to announce our entry into the northern market in the state of Punjab through our partnership with Bharat Benz, marking another significant milestone in our growth journey. This expansion extends our presence beyond the western and southern regions, establishing footprint for our commercial vehicle segment across India.

To begin with, we will be setting up 8 integrated 3S facilities for Bharat Benz across the state. With this development, Punjab becomes the third key state in our BharatBenz dealership network, following Tamil Nadu and Maharashtra. This move is a part of our broader strategy to diversify beyond Kerala & grow our presence in new geographies.

We are confident that Punjab-with its vibrant economy and growing demand for commercial transportation-offers strong potential, and we remain committed to delivering best-in-class mobility solutions while deepening our relationship with Daimler India Commercial Vehicles."

Shares of Popular Vehicles and Services Limited was last trading in BSE at Rs. 122.95 as compared to the previous close of Rs. 120.70. The total number of shares traded during the day was 5975 in over 213 trades.

The stock hit an intraday high of Rs. 125.00 and intraday low of 120.40. The net turnover during the day was Rs. 729275.00.

Source : Equity Bulls

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PopularVehiclesandServices INE772T01024 AutoDealer PrabalMotors LOI BharatBenx 3SFacilities Punjab