Park+ posts Rs 175 Cr revenue in FY25; losses remain flat

Park+, the digital services platform for car owners, maintained its consistent growth trajectory during the last fiscal year ending March, 2025. Moreover, the losses for the Gurgaon based remained flat during the same period.

Operating revenue of Park+ grew 34% to Rs 175 crore in FY25 from Rs 131 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC).

Founded by Amit Lakhotia, Park+ provides car cleaning, parking solutions for homes, malls, and offices, fine (challan) payments, insurance management, and car service. It also expanded into ancillary offerings like FASTag issuance and EV charging networks.

The sale of services, which includes commissions of FASTags, rental of access control, advertisement, valet service, and parking formed 80% of the total operating income which increased by 35% to Rs 140 crore in FY25. The rest of the collections came from the sale of products such as access control, FASTtag, radio frequency tag, and others.

On the cost side, employee benefits remained the largest expense, which accounted for nearly 40% of the total expense. To the tune of scale, this cost rose 12% to Rs 113 crore in FY25 from Rs 101 crore in FY24. The cost of materials increased 21% to Rs 70 crore, while depreciation doubled to Rs 12 crore.

Advertisement expenses declined by 15% to Rs 23 crore, while other expenses added the rest of Rs 37 crore. Overall, total expenses grew 17% to Rs 286 crore in FY25 from Rs 245 crore in FY24.

Park+ reported flat loss at Rs 105 crore in FY25 as compared to Rs 103 crore in FY24. Its ROCE and EBITDA margin stood at -124.14% and -54.86% respectively.

On a unit basis, the company spent Rs 1.63 to earn a rupee of operating revenue during the year. As of March 2025, Park+ reported cash and bank balances of Rs 62 crore, while its current assets stood at Rs 160 crore in the same period.

According to TheKredible, Park+ has raised a total of $53 million of funding till date, having Peak XV Partners, Matrix Partners and Epiq Capital as its lead investors.