Gurugram-based digital car services platform Park+ continued its steady scale-up in FY25, reporting strong revenue growth while keeping losses largely unchanged during the year ended March 2025.
According to its financial statements filed with the Registrar of Companies (RoC), Park+’s operating revenue increased 34% year-on-year to ₹175 crore in FY25, compared to ₹131 crore in FY24.
Service-Led Business Drives Revenue Growth
Founded by Amit Lakhotia, Park+ offers a wide range of services for car owners, including parking solutions for residential societies, malls and offices, car cleaning, challan payments, insurance management and vehicle servicing. Over the years, the company has expanded into ancillary offerings such as FASTag issuance, access control systems and EV charging networks.
Revenue from the sale of services which includes FASTag commissions, access control rentals, advertising, valet services and parking accounted for nearly 80% of operating income. This segment grew 35% to ₹140 crore in FY25.
The remaining revenue came from the sale of products such as access control hardware, FASTags and RFID tags.
Employee Costs Remain the Largest Expense
On the cost side, employee benefit expenses continued to be the biggest contributor, forming close to 40% of total expenditure. This cost rose 12% to ₹113 crore in FY25, up from ₹101 crore in the previous year.
The cost of materials consumed increased 21% to ₹70 crore, while depreciation expenses doubled to ₹12 crore, reflecting continued investment in infrastructure and technology.
Advertisement and promotional expenses declined 15% to ₹23 crore, signalling improved cost discipline, while other overheads added another ₹37 crore. Overall, total expenses rose 17% to ₹286 crore in FY25, compared to ₹245 crore in FY24.
Losses Stay Flat Despite Scale-Up
Despite the revenue expansion, Park+ reported a flat net loss of ₹105 crore in FY25, marginally higher than the ₹103 crore loss recorded in FY24. The company’s ROCE stood at -124.14%, while EBITDA margin came in at -54.86%, reflecting the capital-intensive nature of its expansion.
On a unit economics basis, Park+ spent ₹1.63 to earn every rupee of operating revenue, broadly in line with the previous year.
Cash Position and Funding Background
As of March 2025, Park+ reported cash and bank balances of ₹62 crore, with current assets valued at ₹160 crore.
According to disclosures, the company has raised $53 million in funding to date, backed by investors such as Peak XV Partners, Matrix Partners and Epiq Capital.
Outlook
While losses remain elevated, Park+’s ability to deliver consistent revenue growth, rein in advertising spends and maintain loss levels suggests improving operational leverage. As the platform deepens its presence across parking, FASTag, EV charging and car ownership services, investors will closely track its path to sustainable unit economics.
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