Landmark Cars Limited, a leading premium automotive retail network in India, has announced significant developments in its partnerships with major automotive brands.

Stellantis Intent Letter

Landmark Cars recently disclosed that its subsidiary has received an intent letter from Stellantis Automobiles India Private Limited. While specific details about the nature or terms of the intent letter were not provided, this development suggests a potential strengthening of ties between Landmark Cars and Stellantis, a global automotive manufacturing corporation.

Citroën Expansion in Delhi

In a separate announcement, Landmark Cars revealed an expansion of its partnership with Stellantis, specifically for the Citroën brand in Delhi. Landmark Lifestyle Cars Private Limited, a wholly-owned subsidiary of Landmark Cars Limited, has received a letter of intent from Stellantis Automobiles India Private Limited for the sale and after-sales business of the Citroën car brand in Delhi.

Strategic Use of Existing Infrastructure

The company plans to leverage its existing Jeep showroom at Mathura Road and workshop in Okhla for this new Citroën arrangement. This move aligns with Landmark's strategy of optimizing infrastructure to enhance efficiency and drive growth while deepening its brand presence in key regions.

Consolidation Efforts

As part of its consolidation strategy, Landmark Cars will discontinue operations at its Jeep showroom in Moti Nagar, Delhi. The company stated that this location has been in operation for several years and is substantially depreciated, resulting in a marginal financial impact from this closure.

Long-term Growth Strategy

Sanjay Thakker, Chairman and Managing Director of Landmark Cars, commented on these developments, saying, "These strategic moves are aligned with our long-term goal to rationalize costs and streamline operations. By optimizing our infrastructure and strengthening partnerships with leading automotive brands, we are reinforcing our profitable growth journey."

About Landmark Cars Limited

Landmark Cars Limited is a prominent player in India's premium automotive retail sector. The company represents a diverse portfolio of automotive brands, including:

• Mercedes-Benz
• Honda
• Jeep
• Volkswagen
• BYD
• Renault
• Mahindra & Mahindra
• KIA
• MG Motors
• Citroën

Additionally, Landmark Cars caters to the commercial vehicle retail business of Ashok Leyland in India.

The company's operations span the entire automotive retail value chain, encompassing:

• New vehicle sales
• After-sales service and repairs
• Pre-owned passenger vehicle sales
• Facilitation of third-party financial and insurance products

As Landmark Cars continues to expand its partnerships and optimize its operations, it remains focused on strengthening its position in the premium automotive retail market in India.

Landmark Group has announced plans to invest Rs 400.00 crore in a new residential project in Gurugram, showcasing the company's commitment to expanding its real estate portfolio in the Delhi-NCR region.

Project Details

The upcoming project, named 'Landmark SKYVUE', will be located in Gurugram's Sector 103 along the Dwarka Expressway. Key features of the development include:

• 240 apartments spread across 4 acres of land
• Project situated on land owned by the company since 2009
• Apartment prices ranging from Rs 5.00 crore to Rs 7.00 crore per unit
• Launch price set at Rs 17,500.00 per square foot

Funding and Market Outlook

Landmark Group plans to finance the construction through a combination of:

• Internal accruals
• Bank loans
• Customer advances

Chairman Sandeep Chillar expressed optimism about the project, citing strong demand in the Gurugram market. This demand is primarily driven by ongoing infrastructure developments, particularly the opening of the Dwarka Expressway.

Company Track Record

Landmark Group has established a significant presence in the Delhi-NCR real estate market. The company's portfolio includes:

• 15 completed housing projects
• 5 delivered commercial projects

This new venture builds upon the company's experience and success in the region, further solidifying its position in the premium residential segment.

Market Impact

The substantial investment in 'Landmark SKYVUE' reflects the company's confidence in the luxury housing market of Gurugram. As infrastructure improvements continue to enhance connectivity and livability in the area, projects like this are likely to attract high-end buyers looking for premium residential options in the rapidly developing Dwarka Expressway corridor.