Hyderabad, Feb 11 (.) Cars24, India’s leading auto-tech platform, which announced preparing for an Initial Public offering (IPO), is focusing to expand its retail and financing presence in Telangana, deepen local partnerships and increase adoption of its ownership services across Hyderabad and other key cities in the state.
Without disclosing the sixe of the issue, the company CFO India Shivanshu Makkar in a press conference here on Wednesday said it does noy required capital to sustain core operations and will determine the IPO size close to the lising, depending on acquisition opportunities and expansion plans
The company continues to strengthen its physical infrastructure across India, operating around 60–65 hubs nationwide, including nearly 50 non-AD hubs and about 15 AD hubs, he said in Hyderabad, operating four hubs with one additional hub under development.
Highlighting new facilities are being planned with a focus on green operations and zero-emission infrastructure, aligning with its sustainability goals, he said that we are planning to set up four hubs in the next 2-3 months, including one green hub Hyderabad and two hubs in Andhra Pradesh.
On the financial front, CARS24 reported a cash burn of ₹162 crore in the first half (H1) and expressed confidence of achieving profitability within the next quarter, reflecting improving unit economics and operating leverage as volumes scale,he informed.
During H1 FY26, nearly 10 percent of vehicles transacted on Cars24 originated from Telangana, with Hyderabad accounting for the bulk of overall state volumes, he said the market continues to see strong demand for trusted retail purchases, faster price discovery, and financing-led convenience trends that are reshaping the used-car ecosystem in the region.
At a group level, Cars24 reported Adjusted Net Revenue of ₹651 crore in H1 FY26, up 18 per cent year-on-year, he said in the first six months of the year, nearly 85,000 cars were transacted across India, the UAE, and Australia, generating ₹3,731 crore in vehicle transaction GMV.
Retail GMV crossed ₹2,000 crore, growing 21 per cent YoY, and now contributes more than 50 percent of total vehicle transaction GMV, supported by expanded margins of 19.3 pe rcent, he said..
Hyderabad’s pre-owned car market remains largely petrol-led, with petrol vehicles accounting for 87.6 per cent of total transactions, while diesel models contribute 11.6 per cent, reflecting customer preference for lower ownership and maintenance costs, he said.
Among individual models, the Nexon emerged as the most preferred pre-owned car in Hyderabad, accounting for 4.1 per cent of total sales, followed closely by the Baleno (3.97%) and the Swift (2.43%). Collectively, the top three models contribute over 10% of all pre-owned car transactions in the city, he said.
The data highlights a clear inclination towards compact SUVs and hatchbacks, underlining Hyderabad consumers’ growing demand for versatile, fuel-efficient, and city-friendly vehicles, he said.
Cars24’s financing platform, LOANS24, disbursed loans worth ₹1,637 crore in H1 FY26, registering a growth of 38 percent YoY, as more buyers opted for structured, tech-enabled financing, Shivanshu said Telangana saw strong traction during the period, with Hyderabad witnessing rising adoption among salaried professionals and small business owners.
Cars24 invested ₹95 crore in technology in H1 FY26, with a focus on AI-led pricing, inspections, and customer communication, he said.
With H2 FY26 Adjusted Net Revenue expected to cross ₹750 crore, up nearly 35 per cent YoY, Cars24 plans to further expand its retail and financing presence in Telangana,he added.
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