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Backed by an aggressive expansion plan, Mahindra First Choice Services (MFCS) is targeting a 50-percent jump in turnover to Rs 75 crore this fiscal.


The company is looking to add 120 workshops, mostly franchisees, by fiscal end. This will take the total tally to 200 workshops. Further, by FY17, the company targets to open around 400 more workshops, all through the franchisee-model.


“We have been growing fast and our turnover last fiscal stood at Rs 50 crore. This year we are targeting Rs 75 crore. Once the 200-odd workshops are operational, we will look at an aggressive growth on turnover to around Rs 150 crore,” said YVS Vijay Kumar, CEO of MFCS.


MFCS has so far invested Rs 200 crore in the business that includes setting up a mode for procurement of spare-parts.


Another Rs 50-crore investment will be made over the next year towards setting up of 43-odd spare part hubs and warehouses. The spare-parts hub and warehouses are expected to help reduce lead time in availability of parts.


The company is in talks with original equipment makers (OEM) that include the likes of Maruti, Hyundai, Honda, Toyota, etc. It has initiated discussions with automobile component makers for spare part procurement. “We will look to service all cars priced below Rs 15 lakh,” said Vijay Kumar.


At present, the car spare-part and servicing market in India is pegged at Rs 20,652 crore, with a 50-50 division between OEM garages and independent workshops. The segment is expected to reach Rs 33,000 crore in another three to four years.


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