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The premium automotive retailer has executed a bespoke dealership agreement with PCA Automobiles India for the distribution and servicing of Citroen passenger vehicles. This business will be operated from Landmark Cars’ existing Jeep outlets in Mumbai, requiring no additional investment, the company informed the stock exchanges.
The Citroen dealership will be part of Landmark Cars’ wholly owned subsidiary, Landmark Lifestyle Cars Private Ltd. With this addition, the company now represents 11 automotive brands, including Mercedes-Benz, Honda, Jeep, Volkswagen, Renault, Mahindra & Mahindra, Kia, MG Motors, and BYD.
“As a company, we are committed to profitable growth by deepening our presence in a brand or geography, leveraging our existing infrastructure. The addition of Citroen will help us optimise our resources more effectively,” said Sanjay Thakker, Promoter and Chairman of Landmark Cars Ltd, in a press release on February 14, 2025.Meanwhile, the company reported a sharp decline in net profit for the quarter ended December 31, 2024. Net profit dropped 37.9% year-on-year to ₹11.3 crore, down from ₹18.2 crore a year ago.
Revenue from operations, however, grew 24.6% YoY to ₹1,195 crore in Q3 FY25, compared to ₹959 crore in the corresponding period last year.
At 1:12 pm, shares of Landmark Cars were trading 0.56% higher at ₹481 per piece on the BSE.
(Edited by : Shersh Kapoor)
