Park+ Reports Consistent Growth in FY25
Park+, the digital services platform designed for car owners, showcased a steady growth pattern throughout the fiscal year concluding in March 2025. During this period, the losses for the Gurgaon-based company remained stable. Operating revenue for Park+ experienced a 34% increase, reaching Rs 175 crore for FY25, up from Rs 131 crore in FY24, based on financial records obtained from the Registrar of Companies (RoC).
Established by Amit Lakhotia, Park+ offers a variety of services including car cleaning, parking solutions for residential areas, shopping malls, and corporate offices. Additionally, the platform facilitates payment of fines (challans), insurance management, and various car servicing options. Park+ has also broadened its scope to include auxiliary services like FASTag issuance and electric vehicle (EV) charging networks.
Revenue from service sales, including FASTag commissions, access control rentals, advertisement income, valet services, and parking, constituted 80% of the total operating income, which saw a significant rise of 35%, amounting to Rs 140 crore in FY25. The remaining income derived from the sale of products such as access control devices, FASTags, radio frequency tags, and more.
On the expenditures side, employee benefits represented the largest portion of costs, accounting for nearly 40% of total expenses. This figure rose by 12%, reaching Rs 113 crore in FY25, compared to Rs 101 crore in FY24. Material costs surged by 21% to Rs 70 crore, while depreciation costs soared to Rs 12 crore, doubling from prior figures.
Advertising expenses saw a reduction of 15%, amounting to Rs 23 crore, while other expenses contributed to the remaining Rs 37 crore. Overall, total expenses increased by 17%, reaching Rs 286 crore in FY25 compared to Rs 245 crore in FY24.
Park+ reported a flat loss of Rs 105 crore in FY25, compared to Rs 103 crore in FY24. The company’s Return on Capital Employed (ROCE) and EBITDA margin were recorded at -124.14% and -54.86% respectively. On a unit basis, Park+ expended Rs 1.63 to generate one rupee in operating revenue during the year. By March 2025, Park+ held cash and bank balances of Rs 62 crore, with current assets totalling Rs 160 crore for the same period.
Various reports indicate that Park+ has secured a total of $53 million in funding to date, with Peak XV Partners, Matrix Partners, and Epiq Capital serving as primary investors.