Mahindra First Choice Services Ltd (MFCSL), a multi-brand car workshop firm, plans to open 350 outlets across the country with an investment of Rs 250 crore, a top company executive said on Monday.
Addressing media persons after inaugurating MFCSL's second workshop in Hyderabad, Rajeev Dubey, President (Group HR & Corporate Services), MFCSL, said there is a need to provide services like maintenance, sales and insurance from one place to help car customers in saving time and money.
He said the car service market is worth Rs 20,000 crore and expected to grow at a healthy pace.
Dubey said the company, which currently has over 150 outlets, plans to come out with an IPO by 2015 to fund its expansion.
MFCSL, a wholly-owned subsidiary of Mahindra & Mahindra, is a chain of multi brand car workshops across major cities like Mumbai, Chennai, Delhi, Hyderabad and Jaipur.