Popular Vehicles expands luxury portfolio with AUDI, strengthens presence in Telangana and enters into Andhra Pradesh

Popular Vehicles & Services Limited (NSE: PVSL, BSE: 544144), one of India's leading fully integrated automotive dealership player, is pleased to announce that Imperion Cars Private Limited (a 100% subsidiary of our wholly-owned subsidiary - Popular Mega Motors (India) Private Limited) has received three Letter of Intent (LOIs) from AUDI India for retail operations across Telangana and Andhra Pradesh.

The LOIs enables the company to take over the business of existing AUDI dealer in these states. This marks the commencement of a new dealer relationship with AUDI, the premium luxury automobile brand. Under this association, PVSL will represent AUDI through its facilities in Hyderabad (Telangana), Visakhapatnam and Vijayawada (Andhra Pradesh), providing access to AUDI's range of luxury vehicles along with comprehensive sales and after-sales services in line with the brand's global standards.

This development represents an important milestone in the company's growth strategy and a strategic expansion of its luxury portfolio, building on its existing presence through Jaguar Land Rover.

The Company will establish a total of 5 AUDI touchpoints, comprising a showroom and service centre in Hyderabad, a showroom and service centre in Visakhapatnam, and a service centre in Vijayawada.

The Hyderabad facility further reinforces the company's recent expansion in the state of Telangana, while the establishments in Visakhapatnam and Vijayawada mark the company's entry into the state of Andhra Pradesh. The company will have an exclusive AUDI presence in both Visakhapatnam and Vijayawada, strengthening its position in these key, high-growth markets.

Commenting on this development, Mr. Naveen Philip, Promoter and MD, Popular Vehicles and Services Limited said, "We are pleased to announce the commencement of our relationship with AUDI India, further expanding our luxury segment portfolio. This partnership represents an important milestone in our journey as we continue to strengthen our presence in high-growth markets.

The addition of AUDI aligns well with our strategy of diversifying beyond our traditional geographies, while also strengthening our position in existing markets. While Hyderabad builds on our recent expansion in Telangana, our entry into Andhra Pradesh through Visakhapatnam and Vijayawada enables us to establish a strong footprint in a new state.

We believe the luxury car market in these regions offers significant long-term potential, and we remain committed to delivering a high-end ownership experience backed by robust service infrastructure and strong execution capabilities."

Shares of Popular Vehicles and Services Limited was last trading in BSE at Rs. 119.80 as compared to the previous close of Rs. 117.45. The total number of shares traded during the day was 3655 in over 168 trades.

The stock hit an intraday high of Rs. 120.00 and intraday low of 109.50. The net turnover during the day was Rs. 435404.00.

Source : Equity Bulls

Keywords

PopularVehiclesandServices INE772T01024 AutoDealer ImperionCars PopularMegaMotrosIndia LOIs AUDI