Maruti to invest Rs. 1,000 crore in real estate in FY2017-18

Maruti Suzuki will be investing Rs. 1,000 crore in real estate in this fiscal as a part of its network expansion strategy. The car maker plans to build new dealerships on the purchased land and lease them out to select dealers.

According to Ajay Seth, CFO, Maruti Suzuki, the company plans to set up 1,500 new dealerships over the next 3 years. 120 land deals have already been finalized during the first half of the current fiscal.

Maruti first announced their network expansion strategy back in December 2015. With 2,069 dealerships spread across 1,700 cities, Maruti currently has the largest retail network in India. In addition to these, the company has 280 Nexa dealerships and 3,293 service centres.

Source: LiveMint