Park+ posts Rs 175 Cr revenue in FY25; cuts losses by 39%

Park+, the digital services platform for car owners, maintained a consistent growth trajectory during the last fiscal year ended March 2025. Moreover, the Gurugram-based company reduced its lossese 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. It’s worth noting that the company had ESOP cost worth Rs 42 crore, excluding this, the company cut its losses by 39% to Rs 63 crore in FY25.

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 current assets worth 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.

Update at 2:25 PM, January 15:The headline and story have been updated to reflect that Park+ controlled its losses when ESOP costs are excluded.