Landmark Cars Closes Rs 215 Cr Auto Hangar Buy, Adds Mumbai BMW & MG Dealerships
Landmark Cars has completed its acquisition of Mumbai-based dealer Auto Hangar at an enterprise value of ~Rs 215 crore, absorbing its BMW and MG businesses and deepening its luxury and mass-market footprint in India's largest auto retail market.
What happened
Landmark Cars completed acquisition of Mumbai dealer Auto Hangar (BMW and MG businesses) for ~Rs 215 crore EV. Separately, P&G Health Q3 revenue rose 8% YoY to
Key facts
- Rs 215 crore EV
- P&G Health revenue Rs 327 crore
- P&G Health net profit Rs 78 crore
- interim dividend Rs 45/share
Why this matters
This deal validates the playbook of buying scaled multi-brand dealers in tier-1 cities at sub-1x revenue multiples; expect Landmark and rivals to keep hunting similar luxury+mass-market combos in Delhi-NCR and Bengaluru next.
Also reported by
- Moneycontrol — 1h after first sighting
- Moneycontrol — 1h after first sighting