Popular Vehicles and Services Limited has informed the Exchange regarding a press release dated Jun 10, 2025, titled "Letter of Intent".
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Popular Vehicles and Services Limited has received a Letter of Intent from Maruti Suzuki India Limited to set up a new independent True Value outlet for pre-owned (used) vehicles in Bangalore, Karnataka. The outlet will be located on Bannerghatta Road in Bilekahalli Village, spanning about 6,000 sq. ft. with capacity to display up to 15 vehicles on-site. Operations are expected to begin by end of August 2025. This adds to the company's existing 3S Arena facility in Bangalore and supports its strategy of expanding in both new and used vehicle segments.
This is a modest, incremental expansion of the company's pre-owned vehicle business in a key urban market, reinforcing its relationship with Maruti Suzuki. For shareholders, it signals steady network growth but is unlikely to move the stock materially on its own, as a single outlet represents only a small addition to the company's existing 32 pre-owned vehicle outlets across four states.