Monarch Networth Capital on Landmark Cars:
Landmark Cars drives forward its position in Hyderabad with M&M dealership
Landmark Cars has signed a Letter of Intent with Mahindra & Mahindra for opening three showrooms and four workshops in Hyderabad
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.
In the past 6-12 months, the company has partnered with six MG dealerships, opened a workshop with Mercedes-Benz in Hyderabad, and established its presence in the electric vehicle market with a fourth BYD showroom in South Mumbai. These developments seem to position the company well for growth and success in the future.
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With a robust pipeline for both organic and inorganic expansion, the company is poised for further growth. In FY25, operations are slated to commence in key locations including Hyderabad for KIA, Mumbai for MG, South Mumbai for BYD, and both Hyderabad and Mumbai’s Ghatkopar for Mercedes-Benz service centres.
Furthermore, the homologation certificate from ARAI for the BYD Atto-3 and the initiation of BYD new Seal deliveries in April underscore the company’s commitment to innovation and market penetration, setting a promising foundation for future success.
We believe Landmark Cars is an excellent proxy play for the growing premiumization trend in the Indian passenger vehicle (PV) market. This recent inclusion aligns seamlessly with the company’s strategy to expand its footprint.
We currently hold a BUY call on the stock with a TP of Rs.900. and we will reassess this post-Q4FY24 results.
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