Former Maruti Suzuki CEO Jagdish Khattar has launched his multi-brand car servicing business Carnation Auto, with nine centres across the country. The firm plans to venture into the used car business soon. Mr Khattar had earlier raised Rs 108 crore from investors PremjiInvest and IFCI Ventures for the new venture. Carnation Auto plans to invest a total of Rs 300 crore by 2011 to roll out 100 car service outlets. The firm expects to open 30 centres and earn revenues of Rs 75 crore in its first year.
“The pilot project is part of the many businesses that Carnation will roll out subsequently but the initial focus will be on car servicing . Our auto solution hubs would meet all the needs of car owners under one roof,” Mr Khattar, CMD of the firm, said.
Its nine existing centres have come up in Amritsar, Chennai, Noida, Mumbai, Hyderabad and Kochi. Carnation Auto is currently doing a pilot for used car business in Mumbai .