Everest Fleet’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)
Legal Name: Egt Rent A Car Private Limited | CIN: U63032MH2021PTC373210
Everest Fleet, founded by Siddharth Ladsariya, is one of India's largest and most organized fleet management companies providing high-quality vehicles to ride-hailing platforms like Uber and Ola. Established in 2016, the company addresses the growing need for reliable and standardized fleet services in major Indian cities. Everest Fleet focuses on operational efficiency, driver welfare, and sustainable expansion, positioning itself as a trusted partner in urban mobility. The company’s innovative approach to fleet maintenance, technology integration, and strategic partnerships has fueled its rapid rise and nationwide reach.
| Metric | Detail |
|---|---|
| Founding Year | 2016 |
| Revenue FY22 | ₹150 Cr |
| Revenue FY23 | ₹300 Cr |
| Revenue FY24 | ₹500 Cr (proj.) |
| Total Employees FY23 | ~3,500 |
| Round | Date | Amount Raised | Valuation | Investors |
|---|---|---|---|---|
| Series B | 2023 | $20M | ~$200M | Uber, Paragon Partners |
| Series A | 2021 | $10M | — | Artha Venture Fund |
Everest Fleet's revenue grew significantly from ₹150 Cr in FY22 to a projected ₹500 Cr in FY24, driven by fleet expansion and new city launches. Profits also improved to ₹50 Cr projected in FY24 as operational efficiencies increased.
Expenses rose from ₹145 Cr to ₹450 Cr due to large-scale fleet investments; however, revenue outpaced these costs, improving margins and profitability outlook.
Employee base expanded from ~2,000 in FY22 to ~5,000 projected in FY24, reflecting the scale required to support fleet maintenance and operational logistics across India.
- Expand fleet across tier-1 and tier-2 cities to maximize market share.
- Invest in EVs and green technologies for sustainability leadership.
- Strengthen partnerships with major ride-hailing platforms.
- Potential IPO consideration after 2026 as profitability strengthens.
Everest Fleet secured $20M funding in 2023, announced EV fleet expansion, and expanded to more cities, reinforcing its leadership in India’s fleet management industry.
| Metric | Detail |
|---|---|
| Revenue Growth | ₹150 Cr → ₹300 Cr → ₹500 Cr |
| Profitability | ₹5 Cr → ₹20 Cr → ₹50 Cr |
| Employee Growth | +3,000 employees since FY22 |
| Fleet Expansion | Aggressive expansion with EV integration |
Everest Fleet’s robust growth, operational efficiency, and commitment to sustainability position it as a leader in India's fleet services sector. With strong profitability and continued fleet and geographic expansion, Everest is set for an exciting future and potential public listing. Make smarter business decisions with verified insights on companies and directors. Visit Affluense.ai to learn more.
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