Popular Vehicles' arm bags LoI to set up 8 BharatBenz 3S facilities in Punjab
Popular Vehicles and Services has announced that its wholly owned step-down subsidiary, Prabal Motors, has received a Letter of Intent (LOI) to establish eight state-of-the-art 3S (Sales, Service, and Spare Parts) facilities for BharatBenz in Punjab.
With this development, the company will enter the Punjab market as the exclusive dealer for BharatBenz across the entire state. The move marks a strategic expansion of Popular Vehicles' footprint in North India, building its strong foothold in Maharashtra and Tamil Nadu, and further strengthening its relationship with the BharatBenz brand.
The eight integrated facilities will be strategically located across the state and will include showrooms, bodyshops, spare parts distribution centers, and pre-owned vehicle operations all under one roof. The project will feature a total of 32 service bays and involves a cumulative investment of around Rs 13 crore, the company said in a regulatory filing.
Naveen Philip, promoter and MD of Popular Vehicles and Services, 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 Punjabwith its vibrant economy and growing demand for commercial transportationoffers strong potential, and we remain committed to delivering best-in-class mobility solutions while deepening our relationship with Daimler India Commercial Vehicles.
Popular Vehicles and Services is the one of the largest authorised dealerships for Maruti Suzuki India (MSIL) vehicles in India. Its subsidiaries and step down subsidiaries are in the dealership business of Honda Cars India, Jaguar Land Rover India, Tata Motors (Commercial Vehicles) and Daimler India Commercial Vehicles (Bharat Benz) among others.
The company reported a consolidated net loss of Rs 13.72 crore in Q4 FY25, compared to a net loss of Rs 20.11 crore in Q4 FY24. Revenue from operations rose marginally to Rs 1,372.36 crore in Q4 FY25, up from Rs 1,363.71 crore in the corresponding quarter of the previous fiscal year.
The counter shed 0.77% to Rs 122 on the BSE.
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