CarTrade Tech In Focus: CarTrade Tech is broadening its growth playbook beyond its traditional classifieds business, with used-car retail, OLX monetisation and proprietary data products emerging as key levers. Citi and Nomura remain positive on the stock, with both brokerages retaining their ‘Buy' ratings and pointing to multiple avenues that could drive growth.
Citi has retained a ‘Buy' rating with a target price of Rs 3,300, while Nomura has maintained its ‘Buy' call with a target of Rs 3,340. Nomura said the combination of offline used-car dealer partnerships, OLX monetisation and the ramp-up of VAYA AI could widen CarTrade Tech's growth avenues, with the potential for revenue to at least double from FY26 levels.
Used-Car Retail Gets A Fresh Push
Citi highlighted CarTrade's strategic partnership with Landmark Cars as a key development in its used-car retail ambitions.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
ALSO READ: Track All Stock Market Live Action Here
Under the arrangement, OLX India will power the digital buying and selling journey, including discovery, lead generation and the transaction layer, while Landmark Cars will handle vehicle sourcing, inspection, refurbishment and delivery.
Landmark's inventory is expected to be integrated onto the platform, improving inventory depth and customer choice. The partnership is expected to operate through a revenue-sharing model.
Citi said CarTrade is increasingly evolving from a classifieds platform into a full-stack used-vehicle and commerce ecosystem, with AI-led workflows being developed around vehicle matching, pricing and condition assessment.
OLX Monetisation Could Be A Bigger Growth Lever
Nomura highlighted the strong reach of OLX and the limited monetisation achieved so far as an opportunity.
Citi, meanwhile, pointed to Elite Buyer as one of the most promising initiatives within OLX India. The offering targets businesses and consumers seeking a more trusted and transaction-oriented buying experience and has already seen encouraging traction.
Elite Buyer has also been extended to VAYA, broadening its application across automotive and non-automotive categories. Citi noted that management had previously disclosed more than 100,000 sign-ups.
VAYA LIVE Puts Proprietary Data At The Centre
Another key initiative is VAYA LIVE, a proprietary data-driven intelligence platform that Citi expects to launch in the next four to six weeks.
The platform will provide real-time indicators on vehicle demand, enquiries, cross-shopping behaviour, lead generation and customer targeting for OEMs, dealers, banks and insurers.
Citi said the key factor to watch will be adoption trends as the platform rolls out.
Beyond automotive, OLX is also expanding into non-auto commerce through escrow, payments and logistics solutions, including opportunities in categories such as consumer electronics.
With used-car retail, OLX monetisation, Elite Buyer and VAYA AI/LIVE all being developed simultaneously, Nomura said CarTrade Tech has multiple growth levers and sees potential for revenue to at least double from FY26 levels.
ALSO READ: Oberoi, Lodha, DLF, GPL: Strong H2 Ahead For Property Stocks; Jefferies Flags Sales, Launch Momentum
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
