Landmark Cars reported consolidated total revenue from operations of ₹1,943 crore for the quarter ended September 30, 2026, marking a 17.26% year-on-year increase. This figure represents the company's highest-ever quarterly topline on a proforma basis.

The growth was supported by outlet ramp-up and stabilization, alongside strong customer interest during the ongoing festive season. While the first half is seasonally weaker than the second, business activity typically gains momentum during the festive period, which started in October this year compared to September last year.

Revenue performance details

The following table summarises the key revenue metrics for Q2FY27 and H1FY27:

Note: Proforma revenue includes sales through the Mercedes-Benz agency model, where Landmark earns commission on each sale.

Strategic partnerships and product launches

Landmark Cars entered a strategic partnership with OLX India, part of CarTrade Tech, to develop an integrated phygital pre-owned car platform. This alliance combines OLX India's digital reach with Landmark's physical retail network to offer customers a seamless car buying and selling experience.

Partner OEMs continue to drive new launches across premium, luxury, and EV segments. Recent launches, including the Kia Sorento, MG Hector Tomahawk, and BYD Sealion 7 Dynamic, are expected to commence full-scale deliveries from October. The next quarter will feature key launches such as the India-made Mercedes-Benz GLC EV and BYD’s luxury brand, Denza. The company also expects improved availability of the Mercedes-Benz CLA EV following strong customer demand.

Operational challenges and outlook

Significant flooding in Gujarat during Q2FY27 affected business operations, impacting new vehicle sales and after-sales activities in the affected regions. Despite this disruption, management remains optimistic about the festive season and expects to enter H2 on a strong footing, supported by a healthy pipeline of customer enquiries and bookings.

What the numbers show

The data reveals a divergence in growth rates between vehicle sales and after-sales services. Vehicle sales grew 18.46% YoY in Q2FY27, outpacing the 10.63% growth in after-sales service and spares. This suggests that the current revenue surge is primarily driven by new vehicle volumes rather than service retention or ancillary income. Furthermore, the half-yearly vehicle sales growth of 21.01% significantly exceeds the quarterly rate, indicating that Q1FY27 contributed disproportionately to the half-yearly momentum compared to Q2FY27.

Landmark Cars Limited announced the addition of a BYD facility in Noida and a Mahindra & Mahindra showroom at EM Bypass, Kolkata, on September 28, 2026. These expansions strengthen the company's presence with key OEM partners in critical geographic markets.

The company serves as BYD's largest retail and service partner in India. The new Noida facility further deepens this partnership, while the Kolkata location enhances the network for Mahindra & Mahindra. Both additions align with the firm's strategy to scale relationships with existing partners across key regions.

Network expansion details

The latest openings increase the total outlet count to 143 across India. The specific breakdown of the expanded network is as follows:

Strategic focus on electric vehicles

Electric vehicles remain a significant driver of the company's revenue mix. In Q1FY27, the EV portfolio contributed approximately 30% of new car sales revenue. BYD and Mahindra & Mahindra are cited as leading EV brands within the company's portfolio. This concentration highlights the strategic importance of these two partners in driving the company's electrification agenda.

What the numbers show

The data reveals a dual-pronged growth strategy: expanding physical reach while capitalizing on high-margin or high-volume segments like EVs. With EVs accounting for nearly one-third of new car sales revenue in Q1FY27, the addition of dedicated facilities for BYD and Mahindra & Mahindra directly supports this revenue stream. The company holds 11 BYD outlets and 12 Mahindra & Mahindra outlets, indicating a balanced approach between a newer entrant (BYD) and an established market leader (Mahindra) in the EV space.