| The new workshop is aimed at catering to the rising demand being witnessed at the company’s existing two Mahindra & Mahindra workshops in the city. The facility will be set up through Landmark Mobility, a wholly owned subsidiary of Landmark Cars.
With this addition, the total number of Mahindra & Mahindra outlets operated by the company will increase to 8 in Hyderabad and 12 overall.
The company said the expansion is in line with its strategy to strengthen its presence across key brands and geographies. It added that such focused expansion helps build a strong network presence and further strengthens its position as a preferred partner for leading automobile manufacturers.
Landmark Cars is the leading premium automotive retail business in India with dealerships for Mercedes Benz, Honda, Jeep, Volkswagen, BYD, Renault, Mahindra & Mahindra and MG Motors. The company also caters to the commercial vehicle retail business of Ashok Leyland in India. The company has its presence across the automotive retail value chain, including sales of new vehicles, after-sales service and repairs, sales of pre-owned passenger vehicles and facilitation of the sales of third party financial and insurance products.
The company reported 28.85% decline in consolidated net profit to Rs 184.81 crore in Q3 FY24 as compared with Rs 258.31 crore in Q3 FY23. Revenue from operations increased 9.49% to Rs 959.24 crore in Q3 FY24 from Rs 876.13 crore in Q3 FY23. |