Mumbai: Multi-brand automotive retail firm AutoMovers Group on Wednesday said it plans to invest Rs 500-crore over the next three years to expand and streamline its network across key markets to meet rising customer demand.

The company said it has already invested Rs 200 crore and is now planning the next phase of expansion, with a focus on strengthening its sales and service network and expanding its manufacturing capacity.

The Rs 500-crore investment, which has already kicked in from the first quarter of this financial year, will be spread across four key areas, the company said.

The company will allocate Rs 150 crore to expand CapEx -- including new workshops and service centres -- and another Rs 150 crore to boost inventory past 2,000 vehicles. The remaining Rs 200 crore will be split equally between expanding its Lucknow trailer plant and maintaining a reserve for working capital and future growth.

"Our focus over the next few years is to build the infrastructure and capabilities needed to meet these expectations. We also see an opportunity to grow beyond our existing markets and strengthen our manufacturing capabilities, while continuing to invest in our people and operations," said Sanjeet Singh Talwar, Managing Director, AutoMovers Group.

The expansion will begin with the Lucknow cluster before penetrating further into other cities such as Kanpur, Varanasi, Gorakhpur and the Noida corridor.

The company said it is also eyeing the insurance business as a key area of growth and has started expanding its insurance operations across Uttar Pradesh, with Rajasthan, Delhi, Punjab and Bihar.

AutoMovers Group said it plans to do Rs 200 crore worth of insurance business in FY 2027-28 and aims to take this to Rs 1,000 crore annually by 2030.

The increase in inventory will help the company keep more vehicles ready for quicker deliveries, while the new infrastructure is expected to take service capacity to more than 300 vehicles a day, it stated.

The trailer manufacturing facility in Lucknow will also be expanded to increase its production capacity by 2.5 times, the company said.

The investment will also support the company's plans to expand its passenger vehicle business through existing and new OEM partnerships and introduce new product lines in trailer manufacturing.

Over the next three to five years, AutoMovers Group aims to build a wider network across Uttar Pradesh and other key markets, while strengthening its retail, service and manufacturing businesses, it said.