Latest news with #NaveenPhilip
Business Standard
11-07-2025
- Automotive
- Business Standard
Popular Vehicles and Services arm get LoI to set up Ather facilities in Tamil Nadu
Popular Vehicles and Services announced that its step-down subsidiary, Kuttukaran Cars, has received a Letter of Intent (LoI) to set up Ather Energy facilities in Chennai, Tamil Nadu, marking its official entry into the electric two-wheeler segment. The facilities will be spread across two locations in Chennai. One will feature an Experience Centre, while the other will host a Service Centre and warehouse. The service center will initially operate with five bays, capable of servicing approximately 450 vehicles per month. Operations are expected to commence in the first week of September 2025. The total investment for the project is estimated at Rs 75 lakh. Naveen Philip, promoter and managing director of Popular Vehicles and Services, stated, Through this strategic collaboration, we aim to reinforce Athers growing presence by establishing a robust service network and delivering an exceptional ownership experience to EV customers. Tamil Nadu is an important market in our efforts to gradually broaden our revenue beyond Kerala, and this initiative supports that direction. Popular Vehicles and Services is one of the largest authorized 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. Shares of Popular Vehicles and Services shed 0.44% to Rs 135.10 on the BSE.
Business Standard
18-06-2025
- Automotive
- Business Standard
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.
Business Standard
11-06-2025
- Automotive
- Business Standard
Popular Vehicles gains on Maruti Suzuki's approval for new true value outlet in Bangalore
Popular Vehicles and Services rose 2.23% to Rs 130.55 after the firm has received a letter of intent from Maruti Suzuki India to established a new independent true value outlet for preowned vehicles in Bangalore, Karnataka. Shares of Maruti Suzuki India shed 0.31% to Rs 12,481 on the BSE. The upcoming outlet will be located at Property No. 20/4, Bilekahalli Village, Begur Hobli, Bannerghatta Road, a prominent and well-connected area in Bangalore. This development represents a strategic move to expand our presence in Karnataka and also meet the growing demand for reliable, value-for-money mobility solutions in urban markets. Spanning approximately 6,000 sq. ft., the new facility will have the capacity of covered display of up to 15 vehicles on-site. The facility is expected to be ready and start operations by the end of August 2025. Naveen Philip, Promoter and MD, Popular Vehicles and Services said, We are excited to expand our relationship with Maruti Suzuki through the upcoming launch of a True Value outlet in Bangalore. This development complements our existing 3S Arena facility in the city and reflects our strong belief in the growth potential of Bangalores pre-owned car market. As one of Indias most vibrant automotive hubs, Bangalore presents a significant opportunity in the certified used car space. This outlet will serve as a key destination for quality-assured preowned vehicles and further reinforces our broader strategy of expanding across both new and used vehicle segments. We remain committed to delivering a superior ownership experience built on trust, transparency, and service excellence. Popular Vehicles and Services is in the business of sale and service of automobiles, spare parts, finance and insurance commission. Maruti Suzuki India is engaged in the manufacture, purchase, and sale of motor vehicles, components, and spare parts (automobiles).
