These outlets will be established in one of the wholly owned subsidiaries of Landmark Cars, namely, Landmark Mobility Private Ltd.
The company already has three Mahindra & Mahindra outlets in West Bengal.
This strategic initiative underscores Landmark's commitment to solidifying its presence in the vibrant Hyderabad market. Mahindra & Mahindra will be the third dealership for Landmark Cars in Hyderabad, after Mercedes-Benz and Kia.
This is in line with the company?s strategy of horizontal expansion with fast-growing, premium brands and vertical expansion by going deep into an identified geography,? Landmark Cars said in a statement.
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 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.
The scrip had risen 0.56% to end at Rs 768.20 on the BSE on Friday.
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